NEW
YORK, July 16, 2024 /PRNewswire/ -- The global
equine healthcare market size is estimated to grow by
USD 582.4 million from 2024-2028,
according to Technavio. The market is estimated to grow at a CAGR
of 6.78% during the forecast period. Rise in
incidences of zoonotic diseases is driving market
growth, with a trend towards adoption of new
technologies. However, high costs associated with equine
healthcare poses a challenge. Key market players include
Alltech Inc., Boehringer Ingelheim International GmbH, Central
Garden and Pet Co., Ceva Sante Animale, Dechra Pharmaceuticals Plc,
Elanco Animal Health Inc., Equine Products UK LTD., Esaote Spa,
Forte Healthcare Ltd., Hallmarq Veterinary Imaging Ltd., IDEXX
LABORATORIES INC., Jacks Inc., Kemin Industries Inc., Land O Lakes
Inc., Merck KGaA, Peak Equine Health, Scone Equine Group, Thermo
Fisher Scientific Inc., Vetoquinol SA, and Zoetis Inc..
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Forecast
period
|
2024-2028
|
Base Year
|
2023
|
Historic
Data
|
2018 - 2022
|
Segment
Covered
|
Product
(Pharmaceuticals, Vaccines, and Others), Distribution Channel
(Offline and Online), and Geography (North America, Europe, Asia,
and Rest of World (ROW))
|
Region
Covered
|
North America, Europe,
Asia, and Rest of World (ROW)
|
Key companies
profiled
|
Alltech Inc.,
Boehringer Ingelheim International GmbH, Central Garden and Pet
Co., Ceva Sante Animale, Dechra Pharmaceuticals Plc, Elanco Animal
Health Inc., Equine Products UK LTD., Esaote Spa, Forte Healthcare
Ltd., Hallmarq Veterinary Imaging Ltd., IDEXX LABORATORIES INC.,
Jacks Inc., Kemin Industries Inc., Land O Lakes Inc., Merck KGaA,
Peak Equine Health, Scone Equine Group, Thermo Fisher Scientific
Inc., Vetoquinol SA, and Zoetis Inc.
|
Key Market Trends Fueling Growth
The equine healthcare market is experiencing significant growth
due to the adoption of new technologies by vendors and increased
research and development (R&D) investments. Notable
advancements include Zoetis' expansion of its Vetscan Imagyst
diagnostics platform with AI dermatology and equine FEC analysis
applications in March 2023. IDEXX's
product and service improvements in January
2022, streamlining veterinary practices and offering
customized support, further demonstrate this trend. These
developments will drive the global equine healthcare market's
expansion during the forecast period.
The Equine Healthcare Market is experiencing significant growth
due to increasing animal health spending and the need for advanced
Equine care. Key trends include the use of Analgesics,
Anti-inflammatory, and Antimicrobial products for treating diseases
such as Equine influenza, Equine herpes, Equine encephalomyelitis,
and Equine infectious anemia. Companies like Arenus Animal Health
provide innovative solutions through medicinal feed additives and
parasiticides. Animal insurance and Equine Health Plans are gaining
popularity, ensuring horses receive proper veterinary care.
Diagnostics, including CT systems and the EquiTrace platform, aid
in early detection and treatment. Horse farms and racing events
prioritize Equine healthcare, utilizing advanced equipment and
skilled veterinarians. E-commerce platforms simplify access to
Equine healthcare products, including vaccines and equine
pharmaceuticals. Regenerative therapies, such as stem cell therapy,
offer promising solutions for injury recovery. Horse population
growth and recreational activities increase the demand for parasite
control and vaccination programs. Bio
Thermo microchips and other technologies enhance disease
tracking and prevention. The equine industry continues to innovate,
with industry participants collaborating to address challenges like
Rabies and Tetanus.
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Market Challenges
- The equine healthcare market faces significant challenges due
to high costs, which impact the accessibility and affordability of
veterinary care for horse owners. Veterinary services, medications,
diagnostic tests, specialized equipment, and emergency care are key
areas where costs are commonly observed. For instance, equine
veterinary services involve specialized knowledge and skills,
leading to higher fees for procedures like colic surgery.
Medications, such as long-term use antibiotics and hormonal
therapies, add to the overall costs. Advanced diagnostic tests,
like X-rays, ultrasound, MRI scans, and laboratory tests,
require specialized equipment and trained professionals,
contributing to higher costs. Specialized equipment, such as equine
dental units, are expensive to acquire, maintain, and upgrade.
Emergency situations, like colic or severe injuries, necessitate
intensive veterinary care, involving substantial costs for
diagnostic tests, surgeries, hospitalization, and round-the-clock
monitoring. These high costs can hinder the growth of the global
equine healthcare market during the forecast period.
- The Equine Healthcare Market faces several challenges in
providing optimal health solutions for horses. Equipment and
supplies, such as equine vaccines and parasiticides, are
essential for equine health plans. However, diseases like Equine
Herpes, Equine Infectious Anemia, Equine Influenza, Rabies, West
Nile Fever, and Venezuelan Equine Encephalomyelitis pose
significant threats to the equine population. Equine industry
participants, including horse farms, racing events, and
recreational activities, require skilled veterinarians and equine
pharmaceuticals to maintain the health of their horses.
Regenerative therapies, such as stem cell therapy, are emerging as
potential solutions. Minnesota's
EquiTrace platform ensures disease traceability and transparency.
Tetanus, EIA, and other infectious diseases require ongoing
vaccination programs. Parasite control remains a challenge, with
the need for effective medicinal feed additives and parasiticides.
The equine industry's success relies on addressing these challenges
to ensure the health and well-being of horses.
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challenges - Download a Sample Report
Segment Overview
This equine healthcare market report extensively covers market
segmentation by
- Product
- 1.1 Pharmaceuticals
- 1.2 Vaccines
- 1.3 Others
- Distribution Channel
- Geography
- 3.1 North America
- 3.2 Europe
- 3.3 Asia
- 3.4 Rest of World (ROW)
1.1 Pharmaceuticals- The equine healthcare
market's pharmaceuticals segment held the largest share in 2023,
encompassing various medications and drugs for equine disease
prevention, treatment, and management. This segment includes
formulations for specific health issues, such as anti-inflammatory
drugs, antibiotics, dewormers, antiparasitic drugs, antifungal
medications, pain relievers, hormonal therapies, and other
pharmaceutical formulations. Preventive medications, like vaccines,
protect horses against infectious diseases, while parasite control
medications manage and prevent internal and external parasites.
Respiratory medications address equine respiratory health,
gastrointestinal medications handle gastrointestinal issues, and
wound care and dermatological medications manage cuts, abrasions,
skin infections, and dermatitis. Pharmaceuticals play a vital role
in diagnosing, treating, and preventing various diseases and health
conditions, ensuring the growth of the pharmaceuticals segment in
the global equine healthcare market.
For more information on market segmentation with geographical
analysis including forecast (2024-2028) and historic data (2018 -
2022) - Download a Sample Report
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The healthcare education solutions market is witnessing growth
due to the rising need for continuous professional development
among healthcare professionals, facilitated by e-learning
platforms, simulation tools, and virtual reality applications.
The global medical terminology software market is crucial for
accurate healthcare documentation and interoperability, driven by
efforts to standardize terminology, improve data quality, and
enhance patient care outcomes through efficient communication and
information exchange.
Research Analysis
Equine healthcare encompasses the prevention, diagnosis, and
treatment of diseases in horses. Equine diseases such as Equine
Infectious Anemia (EIA), Rabies, West Nile Fever, and Venezuelan
Equine Encephalomyelitis pose significant threats to the equine
population. Equine industry participants, including equine
veterinary practitioners, play a crucial role in safeguarding horse
health. CT systems and vaccines are essential tools in equine
healthcare, with animal vaccine manufacturers developing effective
solutions against various equine diseases. The equine industry
relies on equine healthcare products and equine vaccination
programs to maintain the health of the horse population. Skilled
veterinarians implement Equine Health Plans to prevent and manage
diseases, while companies like Arenus Animal Health offer
innovative solutions, such as Bio
Thermo microchips for disease monitoring.
Market Research Overview
The equine healthcare market encompasses a range of products and
services designed to promote and maintain the health of horses.
Animal healthcare spending on equines continues to grow, driven by
the increasing popularity of horses for recreational activities,
equine racing events, and the equine industry. Key areas of focus
include analgesics, anti-inflammatory, and anti-infective
medications, vaccines for diseases such as equine influenza, equine
herpes, rabies, and equine infectious anemia, parasiticides for
parasite control, and equine veterinary practitioners for
diagnosing and treating various equine diseases. Innovations in
equine healthcare include CT systems, diagnostics, e-commerce
platforms, equine healthcare products, equine equipment, and
regenerative therapies such as stem cell therapy. Horse farms and
horse owners also utilize medicinal feed additives, parasite
control programs, and vaccination programs to ensure the health of
their horses. Equine diseases such as equine encephalomyelitis,
Venezuelan equine encephalomyelitis, West Nile fever, and tetanus
continue to pose challenges, requiring ongoing research and
development of new treatments and preventative measures. Skilled
veterinarians play a crucial role in the equine healthcare
industry, providing essential services to horse owners and
participants in the equine industry.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Product
-
- Pharmaceuticals
- Vaccines
- Others
- Distribution Channel
-
- Geography
-
- North America
- Europe
- Asia
- Rest Of World (ROW)
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
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technologies, spanning across 50 countries. Their client base
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Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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