Global Equine Healthcare Market

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

Report ID: SQMIG35G2223 | Region: Global | Published Date: March, 2024
Pages: 219 | Tables: 71 | Figures: 70

Equine Healthcare Market Dynamics

Equine Healthcare Market Drivers

Rising Demand for Equine Well-being:

  • The increasing awareness and concern for the health and well-being of equines, especially in high-performance sectors like racing, sports, and leisure, are driving the demand for advanced healthcare solutions.

Growing Equestrian Events:

  • The surge in equestrian activities, horse racing, and recreational riding has led to a higher demand for equine healthcare services, as owners and trainers prioritize maintaining the health and performance of their horses.

Equine Healthcare Market Restraints

Lack of Veterinary Specialists:

  • In certain areas, there may be a shortage of specialized equine veterinarians and medical facilities, affecting timely and efficient healthcare delivery.

Resistance to Change:

  • Some traditional horse owners and trainers may be resistant to adopting new healthcare practices or products, limiting the adoption of innovative solutions.
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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).

The competitive landscape of the equine healthcare market is characterized by the presence of several key players focusing on delivering a wide array of products and services catering to the diverse needs of horse owners, trainers, and veterinary professionals. Companies are actively engaged in research and development to innovate new treatment methods, medications, and diagnostic tools to address various equine health concerns. Established pharmaceutical companies, veterinary clinics, and specialized equine healthcare providers vie for market share by emphasizing the quality, effectiveness, and safety of their offerings. Collaboration with veterinarians, universities, and research institutions is common for developing advanced equine healthcare solutions. 'Zoetis Inc.', 'Merck Animal Health', 'Boehringer Ingelheim International GmbH', 'Elanco Animal Health', 'Bayer AG', 'Ceva Santé Animale', 'Virbac', 'Dechra Pharmaceuticals PLC', 'IDEXX Laboratories, Inc.', 'Vetoquinol S.A.', 'Norbrook Laboratories Limited', 'EQUINE PRODUCTS UK LTD', 'KRKA', 'HIPRA', 'Luitpold Pharmaceuticals, Inc.'

The increasing awareness and concern for the health and well-being of equines, especially in high-performance sectors like racing, sports, and leisure, are driving the demand for advanced healthcare solutions.

Personalized Healthcare Solutions: The equine healthcare market is witnessing a trend towards personalized treatment plans and solutions. Advanced diagnostics, genetic testing, and tailored treatment regimens are becoming more common to address specific health needs of individual horses.

In 2022, North America asserted its dominance by capturing a significant share of more than 35.0%. The region's strong hold is backed by notable statistics, as reported by the FAO, indicating around 10.56 million horses in the U.S. in 2021, with approximately 10.96 million horses across North America. The prevalence of horse farms and the bustling annual horse racing calendar contribute to the region's market share. The U.S. boasts around 300 racetracks and hosts nearly 33,567 horse races annually. The import of approximately 18,865 horses into the U.S. in 2021 further fuels the demand for equine healthcare in North America.

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Global Equine Healthcare Market

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