According to Report, the Equine Healthcare Market was valued at USD 1.20 Billion in 2021 and it is projected to hit around USD 2.30 Billion by 2030 with a CAGR of 6.82% during the prediction period 2022 to 2030.
According to Report, the Equine Healthcare Market was valued at USD 1.20 Billion in 2021 and it is projected to hit around USD 2.30 Billion by 2030 with a CAGR of 6.82% during the prediction period 2022 to 2030.
Growth Factors:
Horse breeding is a core activity in the equine industry. Hence, choice of breeding stock and better healthcare management of breeds are crucial to improve breeding operations. Occurrence of equine infections is another major concern for the breeders. For instance, South America and the Caribbean have high incidence of Potomac horse fever.
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The West Nile Virus infection among horses has been controlled; however, sudden emergence of the virus can cause concerns among the horse owners. Moreover, tetanus and equine influenza cases are evident among the global horse community. Hence, high incidence of equine infections is projected to drive the global equine healthcare market.
Report Scope of the Equine Healthcare Market
| Report Coverage | Details |
| Market Size | US$ 2.30 Billion by 2030 |
| Growth Rate | CAGR of 6.82% from 2022 to 2030 |
| Largest Market | North America |
| Fastest Growing Market | Asia Pacific |
| Base Year | 2021 |
| Forecast Period | 2022 to 2030 |
| Segments Covered | Product Type, Disease Type, Distribution Channel and Region, |
| Companies Mentioned | Bayer AG (Bayer Animal healthcare), Boehringer Ingelheim, Ceva Santé Animale, Eli Lilly and Company (Elanco), Equine Products UK Ltd., Merck & Co. (Merck Animal healthcare), Sanofi (Merial), Purina Animal Nutrition LLC., Vetoquinol S.A., and Zoetis. |
Drugs Segment to Dominate Market
Equine drugs was the largest segment in terms of revenue in 2020. The segment is anticipated to expand at a high CAGR during the forecast period. Equine drugs comprise a range of products, including anti-inflammatory, anti-infectives, and parasiticides that are used to manage reproductive, metabolic or cardiovascular conditions. Increase in pet ownership and overall expenditure on equine healthcare care have augmented the market for both prescription as well as over-the-counter (OTC) drugs.
Veterinary Hospitals/Clinics to be Major Distribution Channel
In terms of distribution channel, the veterinary hospitals & clinics segment accounted for major share of the global equine healthcare market in 2020. The veterinary hospitals & clinics segment is anticipated to capture the largest market share by 2028. The segment is projected to register high market attractiveness during the forecast period. The availability of a range of equine healthcare products such as drugs, vaccines, and nutritional supplements in veterinary hospitals and clinics and authenticity of products are attributed to the segment’s major market share. The recent trend of surveillance activities from the international and regional animal healthcare agencies is another factor that drives the segment.
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North America to Lead Global Market
North America accounted for a significant share of the global equine healthcare market in 2020, followed by Europe. These two regions are projected to be highly lucrative markets during the forecast period. High adoption rate of horses per household, impressive animal healthcare expenditure, influence of animal welfare program, strong animal research infrastructure, and presence of key vendors can be attributed to high market share of the two regions.
COVID-19 Impact Assessment on Market Landscape
The report comprises the scrutiny of COVID-19 lock-down impact on the income of market leaders, disrupters and followers. Since lock down was instigated differently in diverse regions and nations, influence of same is also dissimilar across various industry verticals. The research report offers present short-term and long-term influence on the market to assist market participants across value chain makers to formulate the framework for short term and long-lasting tactics for recovery and by region.
Some of the prominent players in the Equine Healthcare Market include:
- Bayer AG (Bayer Animal healthcare)
- Boehringer Ingelheim
- Ceva Santé Animale
- Eli Lilly and Company (Elanco)
- Equine Products UK Ltd.
- Merck & Co. (Merck Animal healthcare)
- Sanofi (Merial)
- Purina Animal Nutrition LLC.
- Vetoquinol S.A.
- Zoetis
Segments Covered in the Report
Equine Healthcare Market, by Product Type
- Drugs
- Anti-infectives
- Anti-inflammatory
- Parasititidis
- Others
- Vaccines
- Inactivated
- Live Attenuated
- Recombinant
- Others
- Medical Supplemental Feed
- Minerals
- Vitamins
- Protein
- Enzyme
- Others
Equine Healthcare Market, by Disease Type
- West Nile Virus
- Equine Rabies
- Potomac Horse Fever
- Tetanus
- Equine Influenza
- Equine Herpes Virus
- Equine Encephalomyelitis
- Others (Equine Infectious Anemia)
Equine Healthcare Market, by Distribution Channel
- Veterinary Hospitals & Clinics
- Retail Pharmacies & Drug Stores
- Others
By Geography
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
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