Equine Healthcare Market Trends and Strategies: Raising the Standard

The global equine healthcare market size is anticipated to reach USD 4.37 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 6.02% over the forecast period. Increasing product R&D, demand for equine diagnostics, investments by key industry stakeholders, and the rising prevalence of diseases in horses are some of the major factors contributing to the market growth. For instance, in September 2021, the U.S. Department of Agriculture invested around USD 3.0 billion in the animal nutrition and health sector.

Equine Healthcare Market Report Highlights

·        Based on product, the pharmaceuticals segment dominated the market with a share of over 30.0% in 2022 owing to a high uptake and wide availability of these products

·        The others product segment comprising regenerative medicine and stem cell therapy solutions is projected to be the fastest growing segment in the forecast period

·        Based on indication, parasite control held the largest share of over 20.0% in 2022. It is due to the growing demand for effective parasiticides for the control of internal and external parasites

·        The sports/racing activity segment dominated the market with a revenue share of over 40.0% in 2022 and is anticipated to grow at the fastest rate during the forecast period

·        Based on distribution channel, veterinary hospitals and clinics held the largest share in 2022. The e-commerce segment is projected to expand at the fastest CAGR during the forecast period

·        North America and Europe held notable shares in 2022. The Asia Pacific is expected to witness lucrative growth in the forecast period owing to a budding equine racing/ sports sector

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The Covid-19 pandemic had a notable impact, particularly on the horse racing/ sports sector. It led to reduced access to equine care services and the cancelation of equine shows. Teaching, training, competitions, events, tourism-related activities, and recreational activities were all discontinued as a result of COVID-19. Horse racing was adversely impacted across the world, along with the demand for horse boarding. Only Sweden continued to hold races within the EU. According to a survey conducted by Hippolia, French Equine Industry Cluster, 68.8% of respondents believed the recovery of the shortfall is impossible, and all equine competitions have been discontinued. A total of USD 385.89 million in sport horse losses were incurred as per estimates. However, the market recovered in 2021 owing to easing lockdown measures and improved access to equine healthcare.

Growing technological advancement, R&D, and initiatives by market players in equine diagnostics are key factors driving the market. For instance, according to a July 2022 article published by the American Veterinary Medical Association, a study was carried out to assess the diagnostic performance of a unique helical fan beam-based CT utilized for imaging horses with clinical head and neck complications. A total of over 120 horses were involved, and the medical records of those who had undergone head or neck CT scans at two university hospitals were examined. Age, sex, breed, the primary complaint, the amount of sedation utilized, the length of the operation, the use of any further diagnostic imaging techniques, the imaging diagnosis, the clinical diagnosis, and any imaging-related problems were all noted. The CT system proved to have short scanning times and reliable utility for regular imaging of horses' teeth and sinuses. 

Furthermore, the rising prevalence of diseases in horses is another factor propelling the market growth. West Nile Virus, for instance, was positively identified in a 10-year-old unvaccinated Quarter Horse stallion in Nevada County who was exhibiting transient fever and neurological symptoms by the California Department of Food and Agriculture in September 2022. This was the 8^th confirmed case of the equine WNV in California in 2022. Other positive cases were identified in six counties: three in Kern, one in Nevada, one in Sacramento, one in San Luis Obispo, one in Tehama, and three in Tulare. This is expected to promote awareness regarding equine diseases while fueling demand for timely vaccination of horses.

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List of Key Players of Equine Healthcare Market

·        Zoetis

·        Boehringer Ingelheim International GmbH

·        Ceva

·        SOUND

·        MERCK & CO., INC.

·        Hallmarq Veterinary Imaging

·        ESAOTE SPA

·        Vetoquinol S.A.

·        IDEXX Laboratories, Inc.

·        Dechra Pharmaceuticals PLC

Research Methodology

We employ a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. We utilize a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously.

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Segmented the global equine healthcare market on the basis of product, indication, activity, distribution channel, and region.

Table of Contents

Chapter 1. Methodology and Scope

          1.1. Market Segmentation And Scope

            1.1.1 Regional Scope

            1.1.2 Estimates And Forecast Timeline

          1.2. Research Methodology

          1.3. Information Procurement

            1.3.1 Purchased Database

            1.3.2 Gvr’s Internal Database

            1.3.3 Secondary Sources

            1.3.4 Primary Research

          1.4. Information/Data Analysis

            1.4.1 Information Analysis

          1.5. Market Formulation & Visualization

          1.6. Data Validation & Publishing

          1.7. Model Details

          1.8. List Of Secondary Sources

Chapter 2. Executive Summary

          2.1. Market Snapshot

          2.2. Segment Snapshot

          2.3. Competitive Insights Snapshot

Chapter 3. Equine Healthcare Market Variables, Trends, and Scope

          3.1. Market Lineage

            3.1.1. Parent Market Analysis

            3.1.2. Ancillary Market Analysis

          3.2. Equine Healthcare Market Dynamics

            3.2.1. Market Driver Analysis

            3.2.2. Market Restraint Analysis

            3.2.3. Market Opportunity Analysis

            3.2.4. Market Challenges Analysis

          3.3. Equine Healthcare Market: Porter’s 5 Forces Analysis

            3.3.1. Threat of New Entrants

            3.3.2. Threat of Substitutes

            3.3.3. Bargaining Power of Buyers

            3.3.4. Bargaining Power of Suppliers

            3.3.5. Competitive Rivalry

          3.4. Equine Healthcare Market: PESTLE Analysis

            3.4.1. Political Landscape

            3.4.2. Economic Landscape

            3.4.3. Social Landscape

            3.4.4. Technology Landscape

            3.4.5. Legal Landscape

            3.4.6. Environmental Landscape

          3.5. Regulatory Framework & Reimbursement Landscape

          3.6. Estimated Equine Population, by 2018 to 2022, by key countries

          3.7. Estimated Disease Prevalence Analysis, By Key Regions

          3.8. Pricing Analysis

          3.9. Covid-19 Analysis

Chapter 4. Product Estimates & Trend Analysis, 2018 - 2030 (USD Million)

          4.1. Equine Healthcare Market By Product: Key Takeaways

          4.2. Product Movement Analysis & Market Share, 2022 & 2030

          4.3. Equine Healthcare Market Estimates & Forecast, By Product (USD Million)

          4.4. Vaccines

            4.4.1. Vaccines Market Estimates And Forecasts, 2018 - 2030 (USD Million)

          4.5. Pharmaceuticals

            4.5.1. Pharmaceuticals Market Estimates And Forecasts, 2018 - 2030 (USD Million)

            4.5.2. Parasiticides

              4.5.2.1. Parasiticides Market Estimates And Forecasts, 2018 - 2030 (USD Million)

            4.5.3. Anti-Infectives

              4.5.3.1. Anti- Infectives Market Estimates And Forecasts, 2018 - 2030 (USD Million)

            4.5.4. Anti-Inflammatory & Analgesics

              4.5.4.1. Anti-Inflammatory Market Estimates And Forecasts, 2018 - 2030 (USD Million)

            4.5.5. Others

              4.5.5.1. Others Market Estimates And Forecasts, 2018 - 2030 (USD Million)

          4.6. Medicinal Feed Additives

            4.6.1. Medicinal Feed Additives Market Estimates And Forecasts, 2018 - 2030 (USD Million)

          4.7. Diagnostics

            4.7.1. Diagnostics Market Estimates And Forecasts, 2018 - 2030 (USD Million)

          4.8. Software & Services

            4.8.1. Software & Services Market Estimates And Forecasts, 2018 - 2030 (USD Million)

          4.9. Others

            4.9.1. Others Market Estimates And Forecasts, 2018 - 2030 (USD Million)

Chapter 5. Indication Estimates & Trend Analysis, 2018 - 2030 (USD Million)

          5.1. Equine Healthcare Market By Indication: Key Takeaways

          5.2. Indication Movement Analysis & Market Share, 2022 & 2030

          5.3. Equine Healthcare Market Estimates & Forecast, By Indication (USD Million)

          5.4. Musculoskeletal Disorders

            5.4.1. Musculoskeletal Disorders Market Estimates And Forecasts, 2018 - 2030 (USD Million)

          5.5. Parasite Control

            5.5.1. Parasite Control Market Estimates And Forecasts, 2018 - 2030 (USD Million)

          5.6. Internal Medicine

            5.6.1. Internal Medicine Market Estimates And Forecasts, 2018 - 2030 (USD Million)

          5.7. Equine Herpes Virus

            5.7.1. Equine Herpes Virus Market Estimates And Forecasts, 2018 - 2030 (USD Million)

          5.8. Equine Encephalomyelitis

            5.8.1. Equine Encephalomyelitis Market Estimates And Forecasts, 2018 - 2030 (USD Million)

          5.9. Equine Influenza

            5.9.1. Equine Influenza Market Estimates And Forecasts, 2018 - 2030 (USD Million)

          5.10. West Nile Virus

            5.10.1. West Nile Virus Market Estimates And Forecasts, 2018 - 2030 (USD Million)

          5.11. Tetanus

            5.11.1. Tetanus Market Estimates And Forecasts, 2018 - 2030 (USD Million)

          5.12. Others

            5.12.1. Others Market Estimates And Forecasts, 2018 - 2030 (USD Million)

Chapter 6. Activity Estimates & Trend Analysis, 2018 - 2030 (USD Million)

          6.1. Equine Healthcare Market By Activity: Key Takeaways

          6.2. Activity Movement Analysis & Market Share, 2022 & 2030

          6.3. Equine Healthcare Market Estimates & Forecast, By Activity (USD Million)

          6.4. Sports/Racing

            6.4.1. Sports/Racing Market Estimates And Forecasts, 2018 - 2030 (USD Million)

          6.5. Recreation

            6.5.1. Recreation Market Estimates And Forecasts, 2018 - 2030 (USD Million)

          6.6. Others

            6.6.1. Others Market Estimates And Forecasts, 2018 - 2030 (USD Million)

Chapter 7. Distribution Channel Estimates & Trend Analysis, 2018 - 2030 (USD Million)

          7.1. Equine Healthcare Market By Distribution channel: Key Takeaways

          7.2. Distribution Channel Movement Analysis & Market Share, 2022 & 2030

          7.3. Equine Healthcare Market Estimates & Forecast, By Distribution Channel (USD Million)

          7.4. Veterinary Hospitals & Clinics

            7.4.1. Veterinary Hospitals & Clinics Market Estimates And Forecasts, 2018 - 2030 (USD Million)

          7.5. E-Commerce

            7.5.1. E-Commerce Market Estimates And Forecasts, 2018 - 2030 (USD Million)

          7.6. Others

            7.6.1. Others Market Estimates And Forecasts, 2018 - 2030 (USD Million)