Dublin, Sept. 21, 2023 (GLOBE NEWSWIRE) -- The "Global Equine Pharmaceuticals & Supplements Market by Product (Pharmaceutical, Supplement), Distribution Channel (Drug Stores, Veterinary Hospitals) - Cumulative Impact of COVID-19, Russia Ukraine Conflict, and High Inflation - Forecast 2023-2030" report has been added to ResearchAndMarkets.com's offering.
The global equine pharmaceuticals and supplements market is poised for remarkable growth, with a projected value of USD 1,379.52 million by 2030, according to the latest market report.
The market size was estimated at USD 880.92 million in 2022 and is expected to reach USD 930.52 million in 2023, showcasing a steady Compound Annual Growth Rate (CAGR) of 5.76%.
Market Segmentation & Coverage:
The research report delves into the market's intricacies, categorizing the Global Equine Pharmaceuticals & Supplements Market to forecast revenues and analyze trends within various sub-markets:
- Product Segmentation: The market encompasses pharmaceutical and supplement products. Pharmaceutical sub-segments include Anti-Inflammatory, Anti-Ulcer Drugs, and Sedative & Tranquilizer. The supplement category comprises Joint Supplements and Vitamins & Minerals, with supplements projected to witness significant market share during the forecast period.
- Distribution Channels: The market is explored through two primary distribution channels: Drug Stores and Veterinary Hospitals, with Veterinary Hospitals expected to hold a substantial market share in the coming years.
- Regional Analysis: Geographically, the market spans the Americas, Asia-Pacific, and Europe, Middle East & Africa. Key countries within these regions are further studied, with the Americas commanding the largest market share of 38.74% in 2022, followed by Europe, Middle East & Africa.
Market Dynamics:
Drivers:
- Increasing awareness about equine pharmaceuticals and supplements products.
- Rising demand for herbal feed, digestive, and energy supplements due to the preference for organic products among horse breeders.
- Growing adoption of equine supplements in horse racing and equestrian sectors.
Restraints:
- Stringent regulations regarding pharmaceutical products and supplements.
Opportunities:
- Growing emphasis on overall equine health and wellness, along with the extensive use of electrolyte supplements.
- Development of new equine pharmaceuticals and supplements.
Challenges:
- Potential side effects on equine health.
The report provides valuable insights in various aspects, including Market Penetration, Market Development, Market Diversification, Market Trends, Competitive Assessment & Intelligence, and Product Development & Innovation. It answers essential questions such as market size and forecasts, factors shaping the market, key investment areas, competitive strategies, technological trends, regulatory frameworks, market share of leading vendors, and suitable modes and strategic moves for entering the market.
Key Attributes of the Report:
- No. of Pages: 186
- Forecast Period: 2023 - 2030
- Estimated Market Value (USD) in 2023: $930.52 Million
- Forecasted Market Value (USD) by 2030: $1,379.52 Million
- Compound Annual Growth Rate: 5.7%
- Regions Covered: Global
Companies Mentioned
- Alltech
- Bayer AG
- Boehringer Ingelheim International GmbH
- Cargill, Incorporated
- Ceva Sante Animale
- Dechra Veterinary Products Limited
- Elanco Animal Health Incorporated
- Equineproducts-uk Ltd.
- Lallemand, Inc.
- Merck & Co., Inc.
- Purina Animal Nutrition LLC
- Thermo Fisher Scientific Inc.
- Vetoquinol USA
- Virbac
- Zoetis Inc.
For more information about this report visit https://www.researchandmarkets.com/r/k4igbn
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