Dublin, Aug. 09, 2023 (GLOBE NEWSWIRE) -- The "Equine Healthcare Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.
The global equine healthcare market has experienced substantial growth, reaching $1.37 billion in 2023, with a commendable compound annual growth rate (CAGR) of 7.3%. This upward trend is projected to continue, as the market is anticipated to reach $1.76 billion by 2027, growing at a CAGR of 6.5%.
Equine healthcare encompasses a range of products, including drugs, vaccines, and medical feed additives, which play a crucial role in ensuring the well-being of horses. One of the key trends driving market growth is the introduction of innovative and effective products by leading manufacturers to rapidly detect diseases and enhance therapeutic outcomes in the equine population.
For instance, Epona Biotec launched the VetTrue System, a remote temperature-monitoring solution designed to provide accurate and less invasive health monitoring for horses, benefiting veterinarians, horse owners, and equestrian professionals.
Additionally, strategic acquisitions, such as IVC Evidensia's acquisition of VetOne Group, have contributed to the expansion of veterinary care services, further fueling the growth of the equine healthcare market.
North America was the largest region in the equine healthcare market in 2022. The regions covered in the equine healthcare report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The growing awareness of animal healthcare will support the growth of the equine healthcare market during the forecast period. People are becoming more aware of the importance of animals in the ecosystem, and animal health is critical not just for their safety and well-being, but also for the safety and well-being of humans.
The diseases in animals can easily be transferred to humans hence, governments and private institutions are investing to develop the animal healthcare infrastructure in various countries. For instance, in September 2021, the US department of agriculture announced an investment of $3 billion in animal health and nutrition. Thus, the rising awareness among the human population about the importance of animal healthcare and increasing investment in animal healthcare will support the growth of the market, during the forecast period.
The equine healthcare market includes revenues earned by entities by taking care of a horse for vaccinations, parasite control, and dental care. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Major players in the equine healthcare market are
- Ethos Veterinary Health LLC
- Greencross Limited
- Idexx Laboratories
- National Veterinary Care Ltd
- Patterson Companies Inc.
- Addison Biological Laboratory Inc.
- Animart LLC
- CVS Group PLC
- Merck & Co. Inc
- Zoetis
- Boehringer Ingelheim
- Covetrus
- Elanco
- Bayer AG
- Ceva Sante Animale
- Virbac
- Vetoquinol
Key Topics Covered:
1. Executive Summary
2. Equine Healthcare Market Characteristics
3. Equine Healthcare Market Trends And Strategies
4. Equine Healthcare Market - Macro Economic Scenario
4.1 COVID-19 Impact On Equine Healthcare Market
4.2 Ukraine-Russia War Impact On Equine Healthcare Market
4.3 Impact Of High Inflation On Equine Healthcare Market
5. Equine Healthcare Market Size And Growth
5.1. Global Equine Healthcare Historic Market, 2017-2022, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Equine Healthcare Forecast Market, 2022-2027F, 2032F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market
6. Equine Healthcare Market Segmentation
6.1. Global Equine Healthcare Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Drugs
- Vaccines
- Medical Feed Additives
6.2. Global Equine Healthcare Market, Segmentation By Disease, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Equine Influenza
- Equine Herpes virus
- Equine Encephalomyelitis
- West Nile Virus
- Equine Rabies
- Potomac Horse Fever
- Tetanus
6.3. Global Equine Healthcare Market, Segmentation By Distribution, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Veterinary Hospitals and Clinics
- Retail Pharmacy
- Online Pharmacies
7. Equine Healthcare Market Regional And Country Analysis
7.1. Global Equine Healthcare Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
7.2. Global Equine Healthcare Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
For more information about this report visit https://www.researchandmarkets.com/r/u2pafc
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