IMARC Group, a leading market research company, has recently releases report titled “Equine Healthcare Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” The study provides a detailed analysis of the industry, including the global equine healthcare market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights:

How big is the equine healthcare market?

The global equine healthcare market size reached US$ 1.43 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 2.07 Billion by 2028, exhibiting a growth rate (CAGR) of 6.60% during 2023-2028.

What is Equine Healthcare?

Equine healthcare is a vital aspect of ensuring the well-being and longevity of horses, contributing to their overall health, performance, and quality of life. The advancements in equine healthcare have revolutionized how we care for these magnificent creatures, offering a range of benefits for horse owners, trainers, and enthusiasts. Equine healthcare encompasses various areas, including preventive care, nutrition, veterinary medicine, and rehabilitation. Regular check-ups, vaccinations, and dental care help prevent and manage diseases, ensuring that horses remain healthy and resilient. Advancements in veterinary medicine have allowed for better diagnosis, treatment, and management of equine ailments. Innovative techniques and therapies have improved outcomes for conditions ranging from lameness and injuries to respiratory and digestive disorders. Equine rehabilitation has also seen significant advancements, enabling injured or recovering horses to regain strength and mobility through tailored exercise programs and state-of-the-art equipment. Their expertise and dedication help identify and address health concerns promptly, offering personalized care plans for each horse’s unique needs.

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What are the growth prospects and trends in the equine healthcare industry?

• The global market is majorly driven by the growing awareness among horse owners and enthusiasts about the importance of maintaining the health and well-being of horses. The global horse population continues to grow, driven by increased participation in equestrian sports, leisure riding, and recreational activities. The expanding horse population creates a larger equine healthcare products and services market.
• Technological advancements in veterinary medicine have improved horses’ diagnosis, treatment, and overall care. The availability of advanced diagnostics, surgical techniques, and therapeutics has contributed to the growth of the equine healthcare market. Pharmaceutical companies and veterinary organizations are investing in research and development to develop innovative equine healthcare products. This investment drives the introduction of new and improved treatments, vaccines, and supplements, stimulating market growth.
• Horse owners are increasingly focused on preventive healthcare measures to maintain the health and performance of their horses. This includes routine vaccinations, deworming, dental care, and nutritional supplementation, driving the demand for equine healthcare products. Apart from this, the popularity of equestrian sports, such as horse racing, show jumping, dressage, and polo, has increased globally. With the participation of horses in these competitive events, there is a greater need for specialized healthcare services to optimize their performance and ensure their well-being. Moreover, the escalating prevalence of equine diseases, such as respiratory infections, lameness, gastrointestinal disorders, and infectious diseases, necessitates using healthcare products and veterinary services.
• The need to diagnose, treat, and prevent these diseases is strengthening the market. Horse owners and trainers are increasingly looking for ways to enhance their horses’ performance and athletic abilities. This drives the demand for equine healthcare products to improve muscle strength, joint health, energy levels, and overall fitness. Besides, horses are often considered companion animals valued as family members.
• The pet humanization trend, where horses are treated as beloved pets, increases healthcare expenditure, including veterinary services and specialized products. The growth of the equine insurance industry, providing coverage for medical expenses and mortality risks, has stimulated the demand for equine healthcare products and services. Insurance coverage encourages horse owners to invest in their animals’ health and well-being.
• The rise in disposable income among horse owners has increased spending on equine healthcare. Affluent horse owners are willing to invest in premium healthcare products and veterinary services for their horses, driving market expansion.

What is included in market segmentation?

The report has segmented the market into the following categories:

Market Breakup by Product:

• Drugs
  • Anti-Inflammatory Drugs
  • Parasiticide Drugs
  • Others
• Vaccines
  • Live Attenuated Vaccine
  • Recombinant Vaccine
  • Others
• Medicated Feed Additives
• Diagnostics
• Others

Market Breakup by Indication:

• Musculoskeletal Disorders
• Parasite Control
• Equine Herpes Virus
• Equine Encephalomyelitis
• Equine Influenza
• West Nile Virus
• Tetanus
• Rabies
• Others

Market Breakup by Distribution Channel:

• Veterinary Hospitals and Clinics
• Retail Pharmacies and Drug Stores

Market Breakup by Region:

• North America (United States, Canada)
• Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa

Who are the key players operating in the industry?

The report covers the major market players including:

• 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

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