According to the latest report by IMARC Group, titled “Equine Healthcare Market by Product (Drugs, Vaccines, Medicated Feed Additives, Diagnostics, and Others), Indication (Musculoskeletal Disorders, Parasite Control, Equine Herpes Virus, Equine Encephalomyelitis, Equine Influenza, West Nile Virus, Tetanus, Rabies, and Others), Distribution Channel (Veterinary Hospitals and Clinics, Retail Pharmacies and Drug Stores), and Region 2023-2028,” the global equine healthcare market size reached US$ 1.43 Billion in 2022. Equine healthcare refers to the comprehensive medical and wellness care provided to horses, ponies, donkeys, and mules. It is a specialized field within veterinary medicine that focuses on the unique needs and physiology of these animals. It requires a collaborative effort from veterinarians, farriers, nutritionists, and owners to ensure that animals receive the required comprehensive treatment. It encompasses a wide range of services, which include preventive measures, such as vaccinations and deworming, and the treatment of illnesses and injuries. It also involves nutrition management, dental care, and hoof maintenance to keep the animal in optimal condition. Besides this, it employs several personalized cares for breeding, gestation, and foaling to ensure a healthy pregnancy and delivery.
Global Equine Healthcare Market Trends:
The increasing awareness and education about the importance of specialized care for horses and other equine animals represents one of the key factors positively influencing the market. Additionally, inflating disposable income levels of individuals is enabling them to invest in high-quality healthcare for their equine animals. Apart from this, continuous innovations in diagnostic equipment, such as digital radiography and ultrasound machines, are making it easier and more efficient to diagnose and treat equine illnesses and injuries. Moreover, the rising popularity of equestrian sports and activities is resulting in the increasing spending on equine healthcare, as owners aim to optimize the performance and well-being of their animals. Looking forward, the market value is projected to reach US$ 2.07 Billion by 2028, expanding at a CAGR of 6.60% during 2023-2028.
- Based on the product, the market has been segmented into drugs (anti-inflammatory drugs, parasiticide drugs, and others), vaccines (live attenuated vaccine, recombinant vaccine, and others), medicated feed additives, diagnostics, and others. Drugs currently account for the majority of the market share.
- On the basis of the indication, the market has been classified into musculoskeletal disorders, parasite control, equine herpes virus, equine encephalomyelitis, equine influenza, West Nile virus, tetanus, rabies, and others. At present, parasite control dominates the market.
- Based on the distribution channel, veterinary hospitals and clinics hold the largest market share, followed by retail pharmacies and drug stores.
- Region-wise, the market has been segregated into North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. Amongst these, North America exhibits a clear dominance in the market.
- The competitive landscape of the market has also been examined, with some of the key players being Boehringer Ingelheim International GmbH, Ceva, Dechra Pharmaceuticals PLC, Elanco Animal Health Incorporated, Esaote SpA, Hallmarq Veterinary Imaging, IDEXX Laboratories Inc., Merck & Co. Inc., Vetoquinol S.A., and Zoetis Inc.
|Base Year of the Analysis
- Drugs: Anti-Inflammatory Drugs, Parasiticide Drugs, Others
- Vaccines: Live Attenuated Vaccine, Recombinant Vaccine, Others
- Medicated Feed Additives
||Musculoskeletal Disorders, Parasite Control, Equine Herpes Virus, Equine Encephalomyelitis, Equine Influenza, West Nile Virus, Tetanus, Rabies, Others
|Distribution Channels Covered
||Veterinary Hospitals and Clinics, Retail Pharmacies and Drug Stores
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||Boehringer Ingelheim International GmbH, Ceva, Dechra Pharmaceuticals PLC, Elanco Animal Health Incorporated, Esaote SpA, Hallmarq Veterinary Imaging, IDEXX Laboratories Inc., Merck & Co. Inc., Vetoquinol S.A., Zoetis Inc, etc.
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