Global Equine Healthcare Market Size, Share, Growth Analysis, By Product Type(Vaccines, Pharmaceuticals), By Indication(Musculoskeletal Disorders, Internal Medicine) - Industry Forecast 2024-2031

The Global Equine Healthcare Market size was valued at USD 2.87 billion in 2022 and is poised to grow from USD 3.36 billion in 2023 to USD 11.70 billion by 2031, growing at a CAGR of 16.9% in the forecast period (2024-2031).

A number of causes are contributing to the significant growth of the equine healthcare sector. These include investments in the equine racing and sports sector, an increase in the prevalence of equine diseases, and the growing demand for equine healthcare services from industry stakeholders. Effective prevention and treatment options are in high demand due to the global expansion of horse diseases such Venezuelan equine encephalomyelitis, rabies, West Nile fever, and equine influenza, as stated by the OIE in 2021.

The equine sector was significantly impacted by the COVID-19 pandemic. Government regulations caused several facilities to close temporarily, which put operators in a difficult financial situation.

Equine veterinarians were accustomed to telehealth-based procedures, and when unemployment rates rose, worries about the wellbeing of the horses surfaced. These effects, meanwhile, were only temporary, as the market steadily recovered.

Increased public awareness of animal healthcare throughout the forecast period will be fueled by knowledge of its significance for both people and animals. To stop diseases from spreading from animals to people, governments and private organizations are making large investments in the infrastructure of animal healthcare. The U.S. Department of Agriculture, for instance, has spent $3 billion on the nutrition and health of animals.

Horses are essential to leisure pursuits such as trail rides and riding classes, which increases the cost of horse maintenance, supplies, and activity fees. These endeavors significantly enhance the generation of jobs and economic value. The availability of veterinary institutions with state-of-the-art equipment and medical and diagnostic supplies for horses drives market expansion even more. Modern diagnostic tools are provided by renowned establishments like the Philip Leverhulme Equine Hospital at the University of Liverpool, improving equine care and therapy alternatives.

Top-down and bottom-up approaches were used to estimate and validate the size of the Global Equine Healthcare Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Global Equine Healthcare Market Segmental Analysis

There are four main segments in the global equine healthcare market: Product Type, Indication, Distribution Channel, and Region. The market is divided into the following segments based on product type: software & services, pharmaceuticals, medicinal feed additives, vaccines, and others. The market is divided into segments based on indication, including tetanus, internal medicine, equine herpes virus, equine encephalomyelitis, equine influenza, west nile virus, and musculoskeletal disorders. The market is divided into three segments based on distribution: e-commerce, veterinary hospitals & clinics, and others. The market is divided into four regions: North America, Europe, Asia-Pacific, and Latin America.

Drivers of the Global Equine Healthcare Market

The need for cutting-edge healthcare solutions is being driven by the growing knowledge of and concern for the health and welfare of horses, particularly in high-performance industries like racing, sports, and leisure.

Restraints in the Global Equine Healthcare Market

The timely and effective delivery of healthcare may be impacted in some places by a lack of specialized horse veterinarians and medical facilities.

Market Trends of the Global Equine Healthcare Market

Personalized Healthcare Solutions: A trend toward more individualized treatment regimens and approaches is now observed in the horse healthcare industry. More and more, specialized treatment plans, genetic testing, and advanced diagnostics are being used to address the unique health needs of individual horses.