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 2024-2031

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

Equine Healthcare Market News

  • Neogen Corporation and TerraNova established a cooperation in December 2023. With Neogen's wide range of animal safety products and TerraNova's cutting-edge biosecurity solutions, the alliance is well-positioned to dramatically improve standards for hygiene and disease prevention in horse situations. Through their alliance, Neogen and TerraNova hope to meet the urgent demand for comprehensive and successful biosecurity procedures in the field of equine healthcare by providing unmatched expertise and solutions. 

     

  • In June 2023, Zoetis Inc. and The United States Pony Clubs, Inc. (USPC) joined to deliver top-notch equine health products and the finest care possible for the horses.

     

  • Covetrus introduced SmartImmune Mushroom from SmartPak in April 2023. This innovative equestrian supplement enhances horses' innate defenses against external diseases by utilizing a potent blend of mushroom extracts.

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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

Report ID: SQMIG35G2223

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