Global Equine Healthcare Market

Equine Healthcare Market Size, Share, Growth Analysis, By Product Type(Vaccines, Pharmaceuticals, Medicinal Feed Additives, Diagnostics), By Indication(Musculoskeletal Disorders, Internal Medicine, Equine Herpes Virus, Equine Encephalomyelitis), By Region - Industry Forecast 2025-2032


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

Equine Healthcare Market Dynamics

Equine Healthcare Market Drivers 

Growing Equine Sports and Activities  

  • The increasing popularity of equine sports and recreational activities is driving the market growth. Events like horse racing, show jumping needs, and dressage need healthy and well-maintained horses, which is increasing the popularity of healthcare products and services. This rising interest in has increased spending on vaccinations, supplements, and grooming products to ensure the well-being of a horse.  

Rising Awareness of Equine Diseases 

  • Increasing awareness about diseases and preventive measures related to equine is boosting the market growth. Diseases such as colic, laminitis, and equine herpesvirus can massively impact a horse’s health. This type of diseases requires timely intervention. Government facilities and many organizations related to veterinary care are focusing on educating owners and caretakes about early diseases detection and management. This has immensely increased the adoption of vaccines, medicinal feed additives, and diagnostic tools.  

Equine Healthcare Market Restraints 

High Expense of Equine Healthcare 

  • The high expense related to equine medical products and services is considerably restraining the market growth. Veterinary care for horses, like surgeries, specialized treatments, and routine check-ups can be costly for small-scale facilities. Furthermore, advanced diagnostic tools and therapies can be effective, but they can become a financial burden. Such expensive treatments are restricting market growth, especially in emerging economies where disposable income is low.  

Lack of Skilled Veterinarians 

  • The lack of professional equine veterinarians can be a huge challenge for the equine healthcare market. Proper treatment of horses needs specialized knowledge and training, especially in conditions that are unique to equines. This skill set often unavailable in the rural or less-developed places. Moreover, the demanding nature of the equine veterinary practices also discourages many professionals from entering the field. This shortage of skilled professionals impacts the timely diagnosis and treatment of equine diseases.

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FAQs

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).

The equine healthcare industry is extremely competitive. This is because it has prominent players who are mainly focused on innovation, strategic acquisition, and product launches to maintain a competitive edge. The leading companies in the market like Zoetis, Boehringer, Ingelheim, Merck Animal Health offers wide range of solutions ranging from vaccines and medicinal feed additives to advanced diagnostics. Moreover, the market is experiencing continuous investments from R&D for solving rising equine health challenges like musculoskeletal disorders and viral infections. Many startups and new companies are also contributing to the growth of the market, focusing on affordability and accessibility. Furthermore, factors like competitive pricing, branding, and technological innovations in treatment solutions are shaping the market dynamics.   '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.'

Incorporation of Telemedicine in Equine Healthcare: The increasing adoption of telemedicine is a growing trend that is changing the equine healthcare market. Lately, digital platforms are allowing veterinarians to provide consultations, monitor recovery, and offer better guidance remotely. This is especially beneficial in the rural or remote areas where access to advanced veterinary care is limited. Telemedicine solutions are also minimizing the time and expense necessary for transporting horses for routine check-ups and minor treatments.  

North America is dominating with the largest equine healthcare market share. The market in this region is rapidly growing due to the well-established veterinary infrastructure. In this region the US is leading the market because it is supported by several horse owners who does considerable investment in the equine healthcare. The vaccination programs and advancements in the therapeutic products also refers to critical necessities such as musculoskeletal disorder and viral infections. The region is also supporting equestrian sports, which is increasing the popularity for preventive and performance-enhancing solutions. Moreover, rising awareness campaigns and technological advancements in diagnostics and treatment solutions is fueling the growth of the market in the region.  

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Global Equine Healthcare Market

Report ID: SQMIG35G2223

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