Equine Healthcare Global Market Report 2024

Equine healthcare encompasses services and products aimed at treating horses to improve their quality of life, enhance animal food quality, and extend their lifespan. This includes veterinary services for horses used in racing, competitive riding, and leisure, covering routine care such as vaccinations, parasite control, dental care, grooming, hoof care, and protection from natural elements.

Equine healthcare primarily comprises drugs, vaccines, and medical feed additives as its main product types. Drugs, which are pharmacologically active substances, are administered to horses in the event of various diseases such as equine influenza, equine herpes virus, equine encephalomyelitis, West Nile virus, equine rabies, Potomac horse fever, and tetanus. These products are distributed through veterinary hospitals and clinics, retail pharmacies, and online pharmacies.

The equine healthcare market research report is one of a series of new reports from The Business Research Company that provides equine healthcare market statistics, including equine healthcare industry global market size, regional shares, competitors with an equine healthcare market share, detailed equine healthcare market segments, market trends and opportunities, and any further data you may need to thrive in the equine healthcare industry. This equine healthcare market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The equine healthcare market size has grown strongly in recent years. It will grow from $1.34 billion in 2023 to $1.42 billion in 2024 at a compound annual growth rate (CAGR) of 6.3%. The growth observed in the historical period can be attributed to factors such as the aging population of equines, the adoption of preventive healthcare practices, the popularity of equestrian sports and activities, increased awareness among owners, and efforts related to disease outbreaks and control.

The equine healthcare market size is expected to see strong growth in the next few years. It will grow to $1.81 billion in 2028 at a compound annual growth rate (CAGR) of 6.2%. The anticipated growth in the forecast period can be attributed to factors such as the adoption of genetic testing and personalized medicine in equines, the implementation of equine wellness programs, the globalization of equine events, preparedness for zoonotic diseases, and compliance with anti-doping regulations. Major trends expected in the forecast period include the utilization of telemedicine and remote monitoring solutions, the integration of wearable technologies for horses, advancements in equine rehabilitation and physical therapy, an increased focus on equine dental care and dentistry services, and the incorporation of herbal and alternative therapies.

The equine healthcare market is expected to experience growth during the forecast period, driven by the increasing awareness of animal healthcare. There is a growing recognition of the significance of animals in the ecosystem, emphasizing that animal health is crucial not only for the safety and well-being of the animals themselves but also for humans. The transfer of diseases from animals to humans underscores the importance of investing in animal healthcare infrastructure. Consequently, both government and private institutions are allocating resources to develop such infrastructure in various countries. For example, in September 2021, the US Department of Agriculture announced a substantial investment of $3 billion in animal health and nutrition. As a result, the rising awareness among the human population regarding the importance of animal healthcare, coupled with increased investments, is expected to bolster market growth during the forecast period.

The equine healthcare market is expected to see an upswing in growth due to the increasing occurrences of zoonotic diseases. These infectious diseases, caused by pathogens such as viruses, bacteria, parasites, or fungi, have the potential to be transmitted between animals and humans. The expansion of the equine healthcare market is attributed to the heightened incidences of zoonotic diseases, prompting horse owners to prioritize preventive measures and healthcare for their animals. This trend is fueled by a heightened awareness of the risks associated with zoonotic transmission and the growing adoption of veterinary products and services. For instance, a report by the European Centre for Disease Prevention and Control, a government agency based in Sweden, revealed in December 2022 that Campylobacteriosis remains the most prevalent zoonosis, with reported cases rising to 127,840 in 2022. Chicken and turkey meat were identified as the primary sources of reported campylobacteriosis cases. Salmonella, the second-most common zoonosis, affected 60,050 individuals. Subsequent to Campylobacteriosis and Salmonellosis, Yersiniosis (6,789 cases), Shigatoxin-producing E. coli infections (6,084 cases), and Listeriosis (2,183 cases) were the most frequently reported zoonotic diseases. Consequently, the growth of the equine healthcare market is driven by the increasing incidences of zoonotic diseases.

A significant trend in the equine healthcare market is the introduction of new and effective products by key manufacturers aimed at facilitating the rapid detection of diseases in the equine population and ensuring improved therapeutic outcomes. An illustrative example of this trend is evident in the actions of Epona Biotec, a veterinary startup committed to advancing equine healthcare. In June 2021, the company launched the VetTrue System, a remote temperature-monitoring system designed specifically for horses. Developed by a collaborative team of veterinary experts, equestrian professionals, and technology specialists, the VetTrue System serves as a more accurate and less invasive health-monitoring solution for veterinarians, horse owners, and individuals in the equestrian industries. The system utilizes a single-use TailTab temperature sensor securely attached beneath the horse's tail. This sensor continuously monitors the horse's temperature and transmits the data to the VetTrue App via Bluetooth.

Prominent companies in the equine healthcare market are actively engaged in the development of innovative products, including protein-based vaccines, to expand their customer bases, boost sales, and increase revenue. Protein-based vaccines typically involve utilizing specific proteins or antigens from the target pathogen to stimulate an immune response, avoiding the use of the live or killed form of the pathogen itself. An exemplary instance of this trend is seen in the actions of Dechra Pharmaceuticals PLC, a pharmaceutical company based in the UK. In August 2022, the company introduced the Strangvac vaccine tailored for horses and ponies. Strangvac is the only intramuscular vaccine designed to provide protection against strangles, a disease caused by the bacterium Streptococcus equi. Noteworthy for its composition, Strangvac incorporates recombinant proteins CCE, Eq85, and IdeE derived from Streptococcus equi. It features a Differentiating Infected from Vaccinated Animals (DIVA) capability. A distinct aspect of this vaccine is its formulation without live bacteria or bacterial DNA, ensuring that it does not yield positive results in culture or PCR tests. This unique feature enhances the vaccine's efficacy and safety in preventing strangles in horses.

In October 2021, IVC Evidensia, a veterinary care provider based in the UK, completed the acquisition of VetOne Group for an undisclosed sum. This strategic move enabled IVC Evidensia to extend its veterinary care services throughout France, encompassing a total of 155 veterinary clinics and hospitals. VetOne Group, based in France, is recognized as a provider of high-quality veterinary resources within the animal health industry.

Major companies operating in the equine healthcare market report are Merck & Co. Inc., Bayer AG, Sanofi S.A., Boehringer Ingelheim, Zoetis Inc., Patterson Companies Inc., Elanco, Idexx Laboratories Inc., Covetrus, Ceva Sante Animale, Virbac, Hilltop BioSciences Inc., Dechra Pharmaceuticals PLC, CVS Group PLC, Vetoquinol, Greencross Limited, ESAOTE SPA, Purina Animal Nutrition LLC, National Veterinary Care Ltd, Applied Biologics, SOUND, Hallmarq Veterinary Imaging, Ethos Veterinary Health LLC, Jaguar Animal Health, Addison Biological Laboratory Inc., Animart LLC, Prisma Imaging, Bimini LLC, BioPredic International, Epona Biotec, Equine Therapy Solutions

North America was the largest region in the equine healthcare market in 2023. The regions covered in the equine healthcare market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the equine healthcare market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The equine healthcare market includes revenues earned by entities by taking care of a horse for vaccinations, parasite control, and dental care. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Equine Healthcare Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on equine healthcare market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Where is the largest and fastest growing market for equine healthcare ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The equine healthcare market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

• The market characteristics section of the report defines and explains the market.
• The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
• The forecasts are made after considering the major factors currently impacting the market. These include:

The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.

The impact of higher inflation in many countries and the resulting spike in interest rates.

The continued but declining impact of covid 19 on supply chains and consumption patterns.

• Market segmentations break down the market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
• The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Scope

Markets Covered:

• 1) By Product Type: Drugs; Vaccines; Medical Feed Additives
• 2) By Disease: Equine Influenza; Equine Herpes virus; Equine Encephalomyelitis; West Nile Virus; Equine Rabies; Potomac Horse Fever; Tetanus
• 3) By Distribution: Veterinary Hospitals and Clinics; Retail Pharmacy; Online Pharmacies
• Companies Mentioned: Merck & Co. Inc.; Bayer AG; Sanofi S.A.; Boehringer Ingelheim; Zoetis Inc.
• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
• Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
• Time series: Five years historic and ten years forecast.
• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
• Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
• Delivery format: PDF, Word and Excel Data Dashboard.