Enjoy complimentary customisation on priority with our Enterprise License!
The equine healthcare market size is forecast to increase by USD 582.4 million at a CAGR of 6.78% between 2023 and 2028.
The equine healthcare industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
The market encompasses various sectors, with pharmaceuticals holding the largest share due to the demand for medications and therapies to prevent and treat equine diseases. Pharmaceutical offerings for horses cater to their unique physiological requirements and include anti-inflammatory drugs, antibiotics, dewormers, antiparasitic drugs, antifungal medications, pain relievers, hormonal therapies, and other formulations. Preventive medications are essential for maintaining equine health and preventing diseases, such as tetanus, rabies, equine influenza, equine herpes, equine infectious anemia, equine encephalomyelitis, and West Nile fever.
Furthermore, animal healthcare spending on equine pharmaceuticals also covers vaccines and medicinal feed additives for parasite control. Animal insurance, equine veterinary practitioners, equine care equipment, diagnostics, and e-commerce platforms further contribute to the market. Animal healthcare products and services are essential for horse farms, racing events, and recreational activities, ensuring the well-being of the equine population. Regenerative therapies, such as stem cell therapy, are emerging trends in the industry.
Get a glance at the Equine Healthcare Industry report of share of various segments Request Free Sample
The pharmaceuticals segment was valued at USD 637.20 million in 2018 and showed a gradual increase during the forecast period.
Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
For more insights on the market share of various regions, Request Free Sample
The market in North America, primarily driven by the US, is shaped by the presence of leading companies like Zoetis, committed to advancing equine health through innovative products. Government initiatives prioritizing animal health and regulations ensuring product safety contribute significantly to market growth. The US government oversees the safety and efficacy of biologics, feed additives, and pharmaceuticals for horses through two federal agencies. These measures safeguard the health and well-being of horses in the region.
Furthermore, key sectors include equine veterinary practitioners, horse farms, racing events, and recreational activities. Products encompass equine vaccines, analgesics, anti-inflammatory, parasiticides, and medicinal feed additives. Diseases such as equine influenza, tetanus, rabies, equine encephalomyelitis, Venezuelan equine encephalomyelitis, West Nile fever, and equine infectious anemia pose ongoing challenges. Innovations in diagnostics, CT systems, and regenerative therapies, including stem cell therapy, are addressing these challenges. E-commerce platforms facilitate the sale of products, enhancing accessibility.
Our market researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The rise in incidences of zoonotic diseases is the key driver of the market.
Adoption of new technologies is the upcoming market trend.
High costs associated with equine healthcare are key challenges affecting the industry growth.
The equine healthcare market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the equine healthcare market report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, equine healthcare market forecast, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the industry. The industry research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key industry players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market encompasses a range of products and services designed to promote the health and well-being of horses. This market is driven by several factors, including the increasing popularity of horses as companions, the growth of the equine industry, and the need to address various health challenges that horses face. One significant trend in the market is the rising demand for preventative care. Horse owners are increasingly recognizing the importance of regular veterinary check-ups, vaccinations, and parasite control measures to maintain the health of their animals. This has led to an increase in demand for vaccines, anti-inflammatory drugs, and other preventative healthcare products. Another trend in the market is the use of advanced diagnostic tools and technologies. Diagnostic tools such as CT systems and imaging technologies are becoming increasingly common in equine healthcare, allowing veterinarians to diagnose conditions more accurately and effectively. Additionally, e-commerce platforms and telemedicine services are making it easier for horse owners to access veterinary care and order healthcare products from the comfort of their own homes. The market is also witnessing the emergence of new technologies and treatments.
For instance, regenerative therapies such as stem cell therapy are gaining popularity for their ability to promote healing and improve the overall health of horses. Medication delivery systems, such as bio-thermo microchips, are also being developed to make medication administration more convenient and effective. Despite these trends, the market faces several challenges. One major challenge is the prevalence of various diseases that affect horses, such as equine encephalomyelitis, equine influenza, and equine herpes. These diseases can have significant economic and health consequences for horse owners and the equine industry as a whole.
Additionally, the high cost of equine healthcare and the need for skilled veterinarians are also major challenges for the market. In summary, the market is a dynamic and evolving industry that is driven by the need to promote the health and well-being of horses. Preventative care, advanced diagnostic tools, and new technologies are key trends in the market, while diseases and the high cost of healthcare remain significant challenges. Skilled veterinarians and equine industry participants play a crucial role in addressing these challenges and ensuring the health and well-being of horses.
|
Equine Healthcare Market Scope |
|
|
Report Coverage |
Details |
|
Page number |
167 |
|
Base year |
2023 |
|
Historic period |
2018-2022 |
|
Forecast period |
2024-2028 |
|
Growth momentum & CAGR |
Accelerate at a CAGR of 6.78% |
|
Market growth 2024-2028 |
USD 582.4 million |
|
Market structure |
Fragmented |
|
YoY growth 2023-2024(%) |
6.24 |
|
Key countries |
US, China, Mexico, UK, and Germany |
|
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
We can help! Our analysts can customize this equine healthcare market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Distribution Channel
8 Market Segmentation by Indication
9 Market Segmentation by Activity
10 Customer Landscape
11 Geographic Landscape
12 Drivers, Challenges, and Opportunity/Restraints
13 Competitive Landscape
14 Competitive Analysis
15 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
Get the report (PDF) sent to your email within minutes.
Complimentary full Excel data with your report purchase.
Get lifetime access to our
Technavio Insights
Quick Report Overview:
Quick Report Overview:
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.
