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2021
Equine Healthcare Market

Equine Healthcare Market by Product Type (Drug, Vaccines, and Medicated Feed Additives), Disease (Influenza, Tetanus, Equine Herpes Virus, and Others), and Distribution Channel (Veterinary Hospitals and Clinics and Retail Pharmacies and Drug Stores): Opportunity Analysis and Industry Forecast, 2020–2030

A00294
Pages: 203
Sep 2021 | 11694 Views
Author(s) : Apoorva Srivastava , Onkar Sumant
Tables: 121
Charts: 38
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COVID-19

Pandemic disrupted the entire world and affected many industries.

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Equine Healthcare Market Overview: 

The global equine healthcare market size was valued at $1,206.70 million in 2020, and is projected to reach $2,328.90 million by 2030, registering a CAGR of 6.80% from 2021 to 2030. Equine healthcare includes healthcare services provided to the horses of racing and betting, competitive riding, and leisure. Healthcare includes the routine veterinary care for vaccinations, parasite control, and dental care; grooming and hoof care; and protection from natural elements such as rain, wind, and snow. In addition to properly feeding and exercising one’s horse, other aspects of general care are needed to keep the horse healthy throughout his or her life. Adult horses should have a complete veterinary examination at least once a year. Geriatric horses (older than 20 years old) should see their veterinarian twice a year or more frequently as illness is more common in older animals and can be identified sooner. 

The COVID-19 pandemic affected the equine healthcare industry in a negative way similar to various other domestic industries. The complete closure of equine facilities has been especially damaging, as these operations bear significant ongoing expenses with no source of revenue.

The market growth is attributed to factors such as rise in prevalence of equine diseases, increase in equine population, increase in animal health expenditure, rise in demand for use of horses for various purposes, increase in advancements of equine healthcare products, rise in awareness among the population about the importance and benefits of using horses, and surge in demand for pet insurance. However, decline in equine population is expected to hamper the equine healthcare market growth.  

Equine-Healthcare-Market--2021-2030

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The global equine healthcare market is segmented into product type, disease, and distribution channel. Based on product type, the market is categorized into drug, vaccines, and medicated feed additives. Furthermore, drugs are classified into anti-infectives, anti-inflammatory, parasiticides, and others. Vaccines are classified into inactivated, live attenuated, recombinant, and others. Based on disease, the market is divided into influenza, tetanus, equine herpes virus, and others (equine encephalomyelitis, west nile virus, equine rabies, and potomac horse fever). On the basis of distribution channel, it is bifurcated into veterinary hospitals and clinics and retail pharmacies and drug stores. Region-wise, the equine healthcare market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Product Type Segment Review

Based on product type, the market is categorized into drug, vaccines, and medicated feed additives. The drug segment dominated the global equine healthcare market in 2020, and is anticipated to continue this trend during the forecast period. The key factors, such as rise in demand for pet insurance, surge in awareness toward effective & advanced drugs and vaccines, and rise in number of cases of equine diseases, may lead to increase in hospital admissions. Launch of effective products, which are tested under clinical trials by the companies, ensures better therapeutic outcomes.

Equine Healthcare Market
By Product Type

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Drugs segment is projected as one of the most lucrative segment.

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Diseases Segment Review

On the basis of disease, the market is segregated into influenza, tetanus, equine herpes virus, and others. At present, the others segment accounts for the majority of market share, owing to rise in prevalence of equine diseases in both developed as well as developing countries and surge in demand for pet insurance.

Equine Healthcare Market
By Diseases

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Others segment held a dominant position in 2020 and will continue to maintain the lead over the forecast period.

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Distribution Channel Segment Review

On the basis of distribution channel, the equine healthcare market is segregated into veterinary hospitals and clinics and retail pharmacies and drug stores. At present, the retail pharmacies and drug stores segment accounts for the majority of market share, owing to rise in prevalence of equine diseases in both developed as well as developing countries and growing awareness among the population about the importance and benefits of horse healthcare.

Equine Healthcare Market
By Distribution channel

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Retail Pharmacies segment held a dominant position in 2020 and will continue to maintain the lead over the forecast period.

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Region Segment Review

North America is constituted to have the highest market share of the equine healthcare market in 2020, followed by other sectors. The larger share of North America can be attributed to the factors such as ease of availability of the products and services across developing countries and rise in animal health expenditure. Overall, it is projected that the need for equine healthcare in developing and developed regions of North America would rise sharply in the coming years.

Equine Healthcare Market
By Region

2030
North America 
Europe
Asia-pacific
Lamea

Asia-Pacific would exhibit the highest CAGR of 8.5% during 2020-2030.

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Key Benefits For Stakeholders

  • This report provides a detailed quantitative analysis of the current equine healthcare market trends and forecast estimations from 2020 to 2030, which assists to identify the prevailing market opportunities. 
  • An in-depth market analysis includes analysis of various regions, which is anticipated to provide a detailed understanding of the current trends to enable stakeholders formulate region-specific plans.
  • A comprehensive analysis of factors that drive and restrain the growth of the global the equine healthcare market is provided.
  • The projections in this report are made by analyzing the current trends and future market potential from 2020 to 2030, in terms of value.
  • An extensive analysis of various regions provides insights that are expected to allow companies to strategically plan their business moves.
  • Key market players within the market are profiled in this report and their strategies are analyzed thoroughly, which help in understanding competitive outlook of the equine healthcare market.

Key Market Segments

  • BY PRODUCT
    • Drug
      • Anti-Inflammatory Drugs
      • Parasiticide Drugs
      • Other Drugs
    • Vaccines
      • .Live Attenuated Vaccine
      • Recombinant Vaccine
      • Other vaccines
    • Medicated feed additives
  • BY DISEASES
    • Influenza
    • Tetanus
    • Equine Herpes Virus
    • Other diseases
  • BY DISTRIBUTION CHANNEL
    • Veterinary Hospitals and Clinics
    • Retail pharmacies and Drug Stores
  • BY REGION
    • .North America
      • U.S
      • Canada
      • Mexico
    • Europe
      • Germany
      • France
      • UK
      • Italy
      • Spain
      • Rest of Europe
    • Asia-Pacific
      • Japan
      • China
      • India
      • Australia
      • South Korea
      • Rest of Asia-Pacific
    • LAMEA
      • Brazil
      • Saudi Arabia
      • South Africa
      • Rest of LAMEA


Key Market Players

  • Boehringer Ingelheim International GmbH
  • Ceva Santé Animale
  • Elanco Animal Health Inc. (Bayer Animal Health)
  • Equine Products UK LTD
  • Land O'Lakes, Inc. (Purina Mills, LLC)
  • MERCK & CO., INC.(Merck Animal Health)
  • Sanofi S.A. (Merial)
  • Thermo Fisher Scientific Inc. (Affymetrix Inc.)
  • Vetoquinol S.A.
  • Zoetis Inc.
 

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Horse is a majestic animal and a responsible owner should provide it with quality care and attention. Many horse owners think of consulting veterinarian only in emergency situations and don’t consider obtaining information or advice regarding day-to-day health care, including nutrition and medication. All horses need vaccinations and regular deworming. Vaccination recommendations vary based on age, the amount the horse travels, and location. The equine industry focuses on the needs of horse healthcare for horse owners and caretakers ranging from leisure horses to Olympic competitors. The equine healthcare market is expected to grow during the forecast period, owing to rise in prevalence of equine diseases, increase in equine population, surge in animal health expenditure, surge in demand for use of horses for various purposes, increase in advancements of equine healthcare products, rise in awareness among the population about the importance and benefits of horses healthcare, and escalation in demand for pet insurance. However, decline in equine population is expected to hamper the market growth.

The use of equine healthcare is highest in North America, owing to factors such as rise in health awareness among population and ease of availability of veterinary services. Although the use of equine healthcare in Europe and LAMEA is low, the adoption rate is expected to increase, owing to increase in target population and launch of new products.

 

 

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FREQUENTLY ASKED QUESTIONS?

A. The total market value of Equine Healthcare market is $2,329 million in 2030.

A. The forcast period for Equine Healthcare market is 2020 to 2030

A. The market value of Equine Healthcare market in 2020 is $1,207 million.

A. The base year is 2020 in Equine Healthcare market

A. Top companies such as Boehringer Ingelheim, EQUINE PRODUCTS UK LTD, Zoetis, Elanco Animal Health (Bayer Animal Health), Land O'Lakes, Inc.(Purina Mills LLC) held a high market position in 2020. These key players held a high market postion owing to the strong geographical foothold in different regions.

A. Drugs segment is the most influencing segment owing to rise in demand for pet insurance, surge in awareness towards effective & advanced drugs and vaccines, rise in number of cases of equine diseases may lead to increase in hospital admissions, and the launch of effective products, which are tested under clinical trials by the companies, ensure better therapeutic outcomes.

A. New product launch and companies acquisions owing to rise in demand for pet insurance, surge in awareness towards effective & advanced drugs and vaccines, rise in number of cases of equine diseases may lead to increase in hospital admissions, and the launch of effective products, which are tested under clinical trials by the companies, ensure better therapeutic outcomes.

A. North America has the highest growth rate in the market which is growing due to increase in healthcare expenditure and surge in patient population in the region contribute toward the growth of the market.

A. Yes, the Equine Healthcare Market company is profiled in the report.

A. Yes, the Equine Healthcare Market report provides PORTER Analysis

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