Global Equine Healthcare Market 2024-2031

Description

List of Tables

Equine Healthcare Market Size, Share & Trends Analysis Report by Indication (Musculoskeletal Disorders, Parasite Control, Equine Herpes Virus, Equine Encephalomyelitis, Equine Influenza, West Nile Virus, Tetanus and Others), by Product (Vaccines, Pharmaceuticals (Parasiticides, Anti-infectives, Anti-inflammatory & Analgesics), Medicinal Feed Additives, Diagnostics, and Others), and by Distribution Channel (Veterinary hospital pharmacies and E-commerce) Forecast Period (2024-2031)

Equine healthcare market is anticipated to grow at a CAGR of 6.1% during the forecast period (2024-2031). The market growth is driven by the increasing animal health spending, accelerating prevalence of equine diseases, and increasing uptake of animal insurance. Additionally, the rise in demand for the use of horses for various purposes such as sports events is also contributing significantly to market growth. The market will also grow owing to the rise in the equine population.

Market Dynamics

Increasing Equine Diseases

The global prevalence of diseases such as equine influenza, equine infectious anemia, rabies, west Nile fever, and Venezuelan equine encephalomyelitis drives the equine healthcare market. They pose serious health risks to horses and may require expensive treatments. Equine influenza is a highly communicable respiratory infection, whereas equine viral infectious anemia has no immunization and therefore requires strict prevention measures. Similarly, rabies can be potentially fatal and be treated through vaccination. Therefore, thorough R&D in the equine healthcare sector becomes necessary, to address the emerging need for vaccines, medicine, and effective disease control mechanisms that are vital in fighting against these diseases.

Adapting to Lifestyle Changes

Horses are used for horseback riding, trail riding, equestrian competitions, and more. This increases the expenditure on preventive medicine, veterinary care, and specialized treatments, leading to significant enhancement of equine healthcare market growth. The rising consciousness of horse health leads to increased needs for different medical products such as vaccinations, anthelmintics, osteoarthritis meds as well as veterinary care. Expansion in the number of horse-related hobbies has also increased opportunities for goods and services connected with horses, which has had a positive effect on the field of equine pharmacy. The rising recognition of activities associated with horses adds to their increased adoption and a consequent rise in treatment measures.

Market Segmentation

Our in-depth analysis of the global equine healthcare market includes the following segments indication, product, and distribution channel.

Based on indication, the market is segmented into musculoskeletal disorders, parasite control, equine herpes virus, equine encephalomyelitis, equine influenza, west Nile virus, tetanus, and others.
Based on product, the market is segmented into vaccines, pharmaceuticals (parasiticides, anti-infectives, anti-inflammatory & analgesics), medicinal feed additives, diagnostics, and others.
Based on the distribution channel, the market is bifurcated into veterinary hospital pharmacies and e-commerce.

Veterinary Hospitals Pharmacies Lead Distribution

Veterinary hospitals and pharmacies lead the distribution channel. There has been a notable rise in the total count of veterinarians and related medical facilities. Such growth rates in veterinary infrastructures enhance the accessibility of horse care services and create conditions for market expansion.

Pharmaceuticals Segment to Hold a Considerable Market Share

The pharmaceuticals segment is anticipated to hold a considerable share of the global equine healthcare market. Reproductive, metabolic, infectious, and dermatological disorders, analgesics, anti-infectives, anti-inflammatory, and parasiticides are among the many equine pharmaceuticals. Rising horse lovers and general horse wellness budgets have caused the demand for over-the-counter and prescription drugs to increase. This is made possible through initiatives that have been taken by market players. For instance, Zoetis offers various medications, such as QUEST gel, Equest Pramox, Deosect 5% Spray Solution, and more.

Regional Outlook

The global equine healthcare market is further segmented based on geography including North America (the US, and Canada), Europe (the UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia-Pacific), and the Rest of the World (the Middle East & Africa, and Latin America).

Rapid Growth Expected in Asia-Pacific

The Asia-Pacific region is anticipated to witness a significant rise in the equine healthcare market which is estimated to be over 6.0% during the anticipated timeframe indicating raised demand for horse medical feeds as well as increased cases of equine diseases besides public policies aimed at enhancing equine health. In the equine products market, the region's growth trajectory will mainly be influenced by a considerable number of market players. The demand for distinctive equine feeds and pharmaceutical interventions will increase as horse owners make nutrition and veterinary care a priority. Government policies that aim at improving veterinary infrastructure and surveillance of diseases have also been contributing to the growth of the market. In general, the APAC region affords significant investment and growth potential in the field of equine healthcare supported by rising demand and government measures.

North America Holds Major Market Share

North America dominates the market owing to the high population of equines in the US. The region is also home to a vibrant equine industry, with horse farms and horse-related sports. In addition, the import of horses in the region highlights the growing sector and brings about the resultant demand for medical remedies.

Market Players Outlook

The major companies serving the global equine healthcare market include Bayer AG, Boehringer Ingelheim International GmbH, Merck & Co., Inc., Virbac S.A., and Zoetis Services LLC, among others. The market players are increasingly focusing on business expansion and product development by applying strategies such as collaborations, mergers and acquisitions to stay competitive in the market.

Product Code: OMR2028676

1. Report Summary

Current Industry Analysis and Growth Potential Outlook
1.1. Research Methods and Tools
1.2. Market Breakdown
- 1.2.1. By Segments
- 1.2.2. By Region

2. Market Overview and Insights

2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
- 2.2.1. Key Market Trends
- 2.2.2. Recommendations
- 2.2.3. Conclusion

3. Competitive Landscape

3.1. Key Company Analysis
3.2. Bayer AG
- 3.2.1. Overview
- 3.2.2. Financial Analysis
- 3.2.3. SWOT Analysis
- 3.2.4. Recent Developments
3.3. Boehringer Ingelheim International GmbH
- 3.3.1. Overview
- 3.3.2. Financial Analysis
- 3.3.3. SWOT Analysis
- 3.3.4. Recent Developments
3.4. Merck & Co., Inc.
- 3.4.1. Overview
- 3.4.2. Financial Analysis
- 3.4.3. SWOT Analysis
- 3.4.4. Recent Developments
3.5. Virbac S.A.
- 3.5.1. Overview
- 3.5.2. Financial Analysis
- 3.5.3. SWOT Analysis
- 3.5.4. Recent Developments
3.6. Zoetis Services LLC
- 3.6.1. Overview
- 3.6.2. Financial Analysis
- 3.6.3. SWOT Analysis
- 3.6.4. Recent Developments
3.7. Key Strategy Analysis

4. Market Segmentation

4.1. Global Equine Healthcare Market by Indication
- 4.1.1. Musculoskeletal Disorders
- 4.1.2. Parasite Control
- 4.1.3. Equine Herpes Virus
- 4.1.4. Equine Encephalomyelitis
- 4.1.5. Equine Influenza
- 4.1.6. West Nile Virus
- 4.1.7. Tetanus
- 4.1.8. Others (Rabies)
4.2. Global Equine Healthcare Market by Product
- 4.2.1. Vaccines
- 4.2.2. Pharmaceuticals
- 1.1.1. Parasiticides
- 1.1.2. Anti-infectives
- 1.1.3. Anti-inflammatory & Analgesics
- 4.2.3. Medicinal Feed Additives
- 4.2.4. Diagnostics
- 4.2.5. Others (Software & Services)
4.3. Global Equine Healthcare Market by Distribution Channel
- 4.3.1. Veterinary hospital pharmacies
- 4.3.2. E-commerce

5. Regional Analysis

5.1. North America
- 5.1.1. United States
- 5.1.2. Canada
5.2. Europe
- 5.2.1. UK
- 5.2.2. Germany
- 5.2.3. Italy
- 5.2.4. Spain
- 5.2.5. France
- 5.2.6. Rest of Europe
5.3. Asia-Pacific
- 5.3.1. China
- 5.3.2. India
- 5.3.3. Japan
- 5.3.4. South Korea
- 5.3.5. Rest of Asia-Pacific
5.4. Rest of the World
- 5.4.1. Latin America
- 5.4.2. Middle East & Africa

6. Company Profiles

6.1. Ceva Animal Health, LLC
6.2. Dechra Veterinary Products Limited
6.3. Elanco Animal Health Inc.
6.4. Equine Products UK Ltd
6.5. ESAOTE SPA
6.6. Hallmarq Veterinary Imaging Ltd.
6.7. Heska Corp.
6.8. IDEXX Laboratories, Inc.
6.9. Krka, tovarna zdravil, d.d., Novo mesto
6.10. Luitpold Pharmaceuticals, Inc.
6.11. Neogen
6.12. Norbrook Group
6.13. Vetoquinol Group