New York, NY, April 27, 2018 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Equine Healthcare Market by Product (Drugs, Vaccines and Supplemental Feed Additives) by Disease (West Nile Virus, Equine Rabies, Equine Influenza, Equine Herpes Virus, Potomac Horse Fever and Others), by Distribution Channel (Veterinary Hospitals and Clinics, Retail Pharmacies and Drug Stores and Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 - 2023”. According to the report, global equine healthcare market was valued at approximately USD 601.83 million in 2017 and is expected to generate revenue of around USD 752.76 million by end of 2023, growing at a CAGR of around 3.80% between 2017 and 2023.
Equine health refers to veterinary services intended to treat horses to enhance their quality of life. The equine healthcare market is an emerging field of pharmaceuticals. The global equine healthcare market is driven by the undying trends of horse-racing, high incidence of equine infections, and global animal health development management programs. Rising demand for pet insurance is opening up new avenues for the global equine healthcare market to grow in the future. The participants are attracted by a high return on investment (ROI) which is leading to market expansion. Also, investment by various other geographical regions in horse racing is driving the growth of this market.
Browse through 69 Tables & 27 Figures spread over 110 Pages and in-depth TOC on "Global Equine Healthcare Market: By Types, Size, Share, Trends and Forecast 2017 - 2023”.
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However, the market is facing challenges due to stringent regulations. The industry is witnessing competition due to numerous players available for the same product. The market is also likely to face a challenge from the decreasing population of equine species due to worldwide availability of alternatives to gambling such as online betting and the declining population of equine.
The equine healthcare market is segmented on the basis of product type into drugs, vaccines, and supplemental feed additives. The drugs segment is anticipated to hold the largest share in 2016, followed by vaccines and supplemental feed additives, owing to high market requirements of drugs for the treatments of equines.
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On the basis of disease type, the market is segmented into west nile virus, equine rabies, equine influenza, equine herpes virus, potomac horse fever and others category. Equine rabies and equine influenza are expected to dominate the in the forecast period. On the basis of the distribution channel, the market is segmented into veterinary hospitals and clinics, retail pharmacies and drug stores and others. The veterinary hospitals and clinics segment is expected to dominate the market in the forecast period owing to the vast availability of drugs and vaccines.
North America currently serves most of the demand for the equine healthcare market. According to the study conducted by the American Horse Council, U.S. has 9.2 million horses with $39 billion direct economic impacts. Also, a total 22,849 horses were imported into the U.S. in 2013, thereby increasing the demand of equine healthcare in North America.
Browse the full "Equine Healthcare Market by Product (Drugs, Vaccines and Supplemental Feed Additives) by Disease (West Nile Virus, Equine Rabies, Equine Influenza, Equine Herpes Virus, Potomac Horse Fever and Others), by Distribution Channel (Veterinary Hospitals and Clinics, Retail Pharmacies and Drug Stores and Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 - 2023" report at https://www.zionmarketresearch.com/report/equine-healthcare-market
Europe is the second largest regional market and is expected to show significant growth in the years to come, the reason being significant adoption rate of equines per households, high interest in the equine care, impressive animal healthcare expenditure, and strong business operation of the brand companies in this region.
The Asia-Pacific market is projected to have the highest CAGR during the forecast period due to the emerging trends of equine care, rising focus on animal healthcare, increased expenditure on healthcare products for animals, and the increased popularity of racing sports. Also, the maintenance of race-horse breeds by the rising investments from China by specific supplements, therapeutic and protection products is fueling the growth of equine healthcare market in the Asia Pacific.
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Some of the key players in equine healthcare market are Bayer AG (Bayer Animal Health), Boehringer Ingelheim, Ceva Santé Animale, Eli Lilly and Company (Elanco), Equine Products U.K. Ltd., Merck & Co. (Merck Animal Health), Sanofi (Merial), Purina Animal Nutrition LLC, Vetoquinol S.A., Zoetis.
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This report segments the global equine healthcare market as follows:
Global Equine Healthcare Market: Product Type Segment Analysis
- Drug Type
- Anti-Infectives
- Anti-Inflammatory
- Parasiticides
- Others
- Vaccine Type
- Inactivated
- Live Attenuated
- Recombinant
- Others
- Supplemental Feed Additives
Global Equine Healthcare Market: Diseases Segment Analysis
- West Nile Virus
- Equine Rabies
- Equine Influenza
- Equine Herpes Virus
- Potomac Horse Fever
- Others
Global Equine Healthcare Market: Distribution Channel Method Analysis
- Veterinary Hospitals And Clinics
- Retail Pharmacies And Drug Stores
- Others
Global Equine Healthcare Market: Regional Segment Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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