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The equine healthcare market size is estimated to increase by USD 582.4 million and grow at a CAGR of 6.78% between 2023 and 2028. Market expansion hinges on several key factors, notably the increasing incidence of zoonotic diseases, heightened awareness of disease prevention measures, and the swift integration of information systems in veterinary healthcare. However, the market faces significant challenges, including elevated costs, the scarcity of skilled professionals and specialized services, and regulatory hurdles surrounding the manufacturing of animal healthcare products. These challenges underscore the complex landscape of veterinary healthcare, where balancing cost-effectiveness, access to specialized care, and regulatory compliance is essential. Stakeholders must navigate through regulatory frameworks and invest in workforce development to address the shortage of skilled professionals and specialized services. Additionally, innovative solutions and collaborations are imperative to mitigate the high costs and ensure the availability of affordable and effective treatments. As the market evolves, strategic initiatives and regulatory reforms become critical for fostering sustainable growth and improving animal healthcare outcomes.
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The market share growth by the pharmaceuticals segment will be significant during the forecast period. The pharmaceutical segment accounted for the largest share of the global equine health market in 2022. This segment includes various pharmaceuticals and pharmaceuticals used in the prevention and treatment of diseases and ailments in horses. Equine medicines are specially formulated to meet the unique physiological and metabolic needs of horses.
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The pharmaceuticals segment was the largest and was valued at USD 637.20 million in 2018. The segment includes the use of medications and therapies, parasite medications, respiratory medications, and wound care and dermatological medications. Preventive medicines play an important role in keeping horses healthy and preventing disease. These include vaccines that protect horses from infectious diseases such as equine influenza, tetanus, West Nile virus, strangulation, and rhino pneumonia. Vaccination protocols are essential for horse health care and disease prevention. Similarly, antiparasitic drugs are used to control and prevent internal and external parasites in horses. These medicines include anthelmintics, insecticides, and acaricides that target worms, ticks, flies, lice, and ticks that can affect horse health. Pharmaceuticals, therefore, continue to play an important role in horse health care, enabling veterinarians and horse owners to diagnose, treat, and prevent a wide variety of diseases and health conditions. This will drive the growth of the pharmaceuticals segment in the global equine health market during the forecast period.
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North America is estimated to contribute 44% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The regional market is led by the US due to the presence of prominent equine health companies such as Zoetis, which continue to focus on developing new equine health products to improve horses' quality of life. Additionally, the introduction of government initiatives to improve animal and horse health has favored regional market growth. For example, the US government regulates biologics, feed additives, and pharmaceuticals for horses and other animals. Two federal agencies are working to ensure that these products are safe, pure, effective, and effective in protecting the health and improving the welfare of animals in the US.
In addition, the increasing number of veterinarians, growing demand for veterinary services, and advances in veterinary services are also driving the growth of the regional market. In addition, product innovation and software integration offered by market players have further driven the market growth. For example, in June 2021, IDEXX acquired ezyVet, a fast-growing and innovative medical information management system (PIMS). ezyVet is a cloud-native software solution that transforms the software experience for veterinarians. With the acquisition of ezyVet, IDEXX provides veterinary clinics with its full range of cloud-based PIMS. Such innovative solutions offered by vendors will drive the growth of the regional market over the forecast period.
The equine healthcare sector is a crucial component of the broader equine industry, encompassing various facets such as equine diseases, equine infectious anaemia, and the threat of diseases like rabies, West Nile fever, and Venezuelan equine encephalomyelitis. Within this ecosystem, equine industry participants collaborate to ensure the well-being of horses and the effectiveness of vaccines. Equine veterinary practitioners play a pivotal role in administering these vaccines and implementing equine vaccination programs to safeguard the equine population. Technologies like CT systems and Bio Thermo microchips enhance diagnostics, while telehealth-based practice models enable access to expert care from skilled veterinarians. Entities like Arenus Animal Health contribute innovative Equine Healthcare products to address specific needs, reinforcing the importance of a comprehensive Equine Health Plan for optimal care.
The rising incidences of zoonotic diseases are the key factor driving the growth of the global market. Zoonosis is an infectious disease that is transmitted to humans between animal species. These diseases can be transmitted by viruses, bacteria, parasites, or fungi through direct contact, indirect contact, vectors such as mosquitoes, and food. For example, the Hendra virus (HeV) is a contagious zoonotic disease transmitted from horses to humans. Children under the age of 5, adults over the age of 65, and people with compromised immune systems are at increased risk of severe zoonotic illness. It is mainly the rural poor and some of the urban poor, who depend on livestock for food and income.
Moreover, healthcare concepts are gaining popularity worldwide. This includes regular examinations of animals such as horses to determine vaccinations, diet, dental care, prophylaxis against various infectious diseases, and assessment of risk factors. Therefore, the increasing incidence of zoonotic diseases has increased the need for equine health care to prevent the spread of disease between animals and humans. Such factors drive the growth of the market during the forecast period.
The adoption of new technologies is a primary trend influencing the global market. Equine owners and veterinarians recognize the importance of taking proactive measures to maintain the general health and well-being of horses rather than relying solely on reactive treatments for specific ailments. This shift to prevention is driven by several factors and has many benefits. Preventive care in equine health includes the implementation of regular wellness practices such as vaccinations, deworming protocols, dental care, nutritional management, and exercise routines. These practices are aimed at minimizing the risk of disease, identifying health problems early, and promoting longevity and performance in horses. One of the main benefits of prophylaxis is the ability to prevent or reduce disease outbreaks. Horse owners can protect their horses from infectious diseases and internal parasites by implementing a proper vaccination program and deworming protocols.
Further, nutritional management is also an important aspect of prevention. Ensuring the horse has a balanced, species-appropriate diet can help prevent malnutrition, metabolic disorders, and weight-related problems. Providing horses with appropriate exercise routines and opportunities for exercise contributes to overall fitness and mental health and reduces the risk of obesity, behavioral problems, and certain musculoskeletal disorders. Preventive care implementation improves the health and well-being of individual horses and has broader implications for horse populations as a whole. By reducing the incidence of infectious diseases and maintaining overall health, preventive care can help minimize the spread of disease within equine communities and equestrian events. This trend is expected to drive the growth of the market during the forecast period.
The limited availability of skilled professionals and specialized services is a major challenge impeding the growth of the global market. One of the challenges faced in the global equine health market is the limited availability of qualified professionals and specialist services for equine. While basic veterinary care is generally available in many areas, access to specialist equine health care services is limited. Specialized equine health services require a veterinarian with advanced training and expertise in equine medicine and surgery. However, there may be a shortage of veterinarians specializing in equine care in some areas. Equine medicine requires specialized knowledge and skills due to the unique anatomy, physiology, and health issues of horses. Availability of professional equine health services may vary depending on geographical location. Areas with a higher equine population density, such as those with an active equestrian or equestrian industry, are more likely to have more veterinarians and specialist equine clinics.
Conversely, rural or remote areas may have limited access to these services. Specialized equine health care often requires access to advanced diagnostic equipment, such as digital X-rays, ultrasound machines, endoscopes, and MRI scanners. Such equipment can be expensive to purchase and maintain, making it difficult for clinics or small practices in some areas to invest in such equipment. Horse surgery, including orthopedic procedures, colic surgery, and soft tissue surgery, requires a specialized and specialized facility. Not all veterinary clinics or hospitals have the resources or expertise to perform these complex procedures. All these factors are challenging the growth of the market.
The 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 report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Alltech Inc.: The company offers equine healthcare, such as nutritional supplements and feed additives to support horse health, performance, and digestive health.
The report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments.
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The market is experiencing significant growth propelled by rising concerns over Equine Health Plan implementation, equine welfare crisis, and Equine infectious anemia. With advancements in Anti-infectives, regenerative therapies, and stem cell therapy, equine veterinary practitioners now have a broader arsenal for combating Equine diseases. Technologies like Bio Thermo microchips and EquiTrace platform are revolutionizing diagnostics and equine vaccination programs. Skilled veterinarians are leveraging CT systems and telehealth-based practice models for precise diagnoses and treatment plans. Moreover, the Equine racing and sports industry are investing heavily in animal insurance and medicinal feed additives to ensure peak performance and mitigate risks associated with recreational activities and horse racing events. Amidst these developments, Arenus Animal Health emerges as a key player, driving innovation in equine pharmaceuticals and parasite control to safeguard against threats like Venezuelan equine encephalomyelitis and West Nile fever.
Moreover, in the dynamic landscape of the Equine Industry, advancements in Equine Healthcare products such as analgesics, animal vaccine, and anti infectives are reshaping the sector. With the rise of telehealth based practice models, equine veterinarians in regions like Minnesota can provide efficient care remotely. The integration of a CT system enhances diagnostic capabilities, while anti inflammatory treatments alleviate ailments like equine herpes. Amidst the equine welfare crisis concerns, animal health spending is directed towards solutions like parasiticides to combat issues like equine infectious anaemia. Furthermore, the Equine racing & sports sector invests in equine equipment and E commerce platforms to streamline operations and ensure the well-being of horses in horse farms. Despite challenges such as rabies, the industry thrives through innovation and collaboration among equine industry participants.
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 |
Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
Performing market contribution |
North America at 44% |
Key countries |
US, China, Mexico, UK, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Alltech Inc., Boehringer Ingelheim International GmbH, Central Garden and Pet Co., Ceva Sante Animale, Dechra Pharmaceuticals Plc, Elanco Animal Health Inc., Equine Products UK LTD., Esaote Spa, Forte Healthcare Ltd., Hallmarq Veterinary Imaging Ltd., IDEXX LABORATORIES INC., Jacks Inc., Kemin Industries Inc., Land O Lakes Inc., Merck KGaA, Peak Equine Health, Scone Equine Group, Thermo Fisher Scientific Inc., Vetoquinol SA, and Zoetis Inc. |
Market dynamics |
Parent market growth analysis, Market Forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the market forecast period. |
Customization purview |
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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 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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