What Has Been the Progress and Growth of the Equine Healthcare Market in Recent Years?
The equine healthcare market has seen considerable growth due to a variety of factors.
• There has been a robust expansion in the scale of the equine healthcare market in the past few years. The market is expected to escalate from $1.41 billion in 2024 to $1.49 billion in 2025, with a compound annual growth rate (CAGR) of 5.6%.
The notable growth during the historic period can be associated with factors such as the aging equine population, proactive healthcare measures, equestrian games and activities, increased cognizance among equine owners, and the management of disease outbreaks.
What are the Market Size and Expected Growth Rates for the Equine Healthcare Market?
The equine healthcare market is expected to maintain its strong growth trajectory in upcoming years.
• There is a predicted robust expansion in the equine healthcare market in the upcoming years. The market is forecasted to reach $1.91 billion by 2029 with a compound annual growth rate (CAGR) of 6.4%.
The projected growth over the forecast period can be linked to factors like genetic testing and tailored medicine, horse wellness initiatives, international equine events, readiness for zoonotic diseases, and adherence to anti-doping rules. Key trends expected to observe during the forecast period include remote telemedicine and monitoring solutions, horse wearable technology, equine physiotherapy and rehabilitation, services in equine dental care and dentistry, as well as herbal and alternative treatments.
What Are The Leading Drivers Of Growth In The Equine Healthcare Market?
The escalating consciousness regarding animal health is set to facilitate the expansion of the equine healthcare market within the projection period. There is a growing recognition of the crucial role animals play in the ecosystem, and their health is essential not only to their survival and welfare but also to humans'. Animal diseases have a high chance of being communicated to humans, so private sectors and governments are channeling resources into enhancing animal healthcare infrastructures in numerous nations. For instance, in February 2023, the Voice of the Consumer: Health and Nutrition Survey by Euromonitor International Ltd., a data analytics and research firm based in the UK, revealed that daily or practically daily pet treatment escalated from 26% in 2021 to 29% in 2023. Buyers are increasingly valuing health more than indulgence, looking for nutritious and functional treats. Consequently, the upsurge in consciousness about animal healthcare will facilitate the growth of the market throughout the forecast period.
What Are The Key Segments Within The Global Equine Healthcare Market?
The equine healthcare market covered in this report is segmented –
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
Subsegments:
1) By Drugs: Anti-Inflammatories, Antibiotics, Pain Management Medications, Anesthetics, Hormonal Therapies
2) By Vaccines: Core Vaccines, Risk-Based Vaccines, Combination Vaccines
3) By Medical Feed Additives: Nutritional Supplements, Probiotics And Prebiotics, Performance Enhancers, Medicated Feeds
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How Are New Trends Impacting The Size Of The Equine Healthcare Market?
Key players in the equine healthcare industry are placing a heavy emphasis on launching preventive healthcare plans aimed at the early treatment of diseases and predictable cost projections. The goal is to assist horse owners in managing expenses while promoting early detection of health problems, thus improving equine welfare as a whole. For instance, the Equiplan Gold Health Care Scheme was launched by the Hook Norton Veterinary Group (HNVG Ltd) in September 2024 as a move towards bettering veterinary services for horses. This scheme champions preventive healthcare, particularly catering to horse owners by offering foreseeable expenses associated with veterinary services, in addition to highlighting the importance of early treatment for minor issues before they escalate into emergencies. Through promoting this proactive approach to care, the platform aims to uplift the overall health of horses and ease the financial burden their owners often face.
Who Are the Key Players in the Equine Healthcare Market?
Major companies operating in the equine healthcare market include:
• Merck & Co. Inc.
• 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
• Purina Animal Nutrition LLC
• Applied Biologics
• SOUND
• Hallmarq Veterinary Imaging
• Ethos Veterinary Health LLC
• Addison Biological Laboratory Inc.
• Animart LLC
• Prisma Imaging
• Bimini LLC
• Equine Therapy Solutions
What are the Regional Insights into the Equine Healthcare Market?
North America was the largest region in the equine healthcare market in 2024. The regions covered in the equine healthcare market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
