Download Free Sample
Author
Muni Kumar Meravath is a seasoned Healthcare Market Research Analyst with over 6 years of experience in the healthc.....
Equine Healthcare Market: By Product Type, By Disease Type, By Distribution Channel and Geography
Equine Healthcare Market: By Product Type, By Disease Type, By Distribution Channel and Geography
Equine Healthcare Market size was valued at US$ 3,432.9 million in 2022 and is poised to grow at a significant CAGR of 6.8% from 2023 to 2029. An increase in the incidence of various equine diseases such as Merial and West Nile virus coupled with the rise in R&D for the development and launch of newer therapeutics and vaccines is anticipated to boost the market over the forecast years. For instance, Boehringer Ingelheim focuses on the research and development of innovative medicines and therapies for equines. Such innovative equine products are Arti-Cell Forte and Aservo EquiHaler as a result, the company expands its market share in Australia. Moreover, in 2020, company spent US$ 51.05 Mn on research and development platforms. It was more than 7% compared with 2019 The growth of the market is attributed to factors such as growing demand for equine animals, rising animal healthcare expenditure, surge in prevalence of equine diseases, rise in demand for horses for various purposes including horse racing, increase in adoption of equine nutritional supplements are significant drivers for the growth of the equine healthcare market over the forecast years.
Equine Healthcare Market Key Developments:
Study Period
2024-2030Base Year
2023CAGR
6.8%Largest Market
North AmericaFastest Growing Market
Asia Pacific
An increase in the prevalence of equine diseases is a key factor for the growth of the equine healthcare market over the forecast years. For instance, in 2022, the Equine Herpes Virus-1 (EHV-1) outbreaks have been reported in several counties in California and 26 horses have been confirmed positive in this region. Three EHM cases (EHV-1 positive with neurologic signs) and 23 EHV-1 fever-only cases have been confirmed. Moreover, in 2022, deadly viral outbreak of EHV-1 in Europe ravages European horses. At least 17 animals have since died and others have had abortions or needed surgery to repair organ damage. Increasing R&D for the development of novel therapeutics for such kind of diseases enhances the growth of the market.
The Equine Healthcare market in North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa. North America expected to hold the highest share in 2021. North America is expected to grow at a significant rate in the coming years due to the increase in equine adoption rate coupled with rise in investments by market players for research & development activities. The growing demand from veterinary clinics, animal science research institutes, and increasing investments from local companies, which are venturing into new products development activities at a rapid pace for them to expand their client base. Europe held the significant share in 2021 and the market is expected to burgeon over the forecast years especially in Germany, France, Spain, UK, and Italy.
Latin America
Europe
Asia Pacific
Middle East
North America
|
Report Benchmarks |
Details |
|
Report Study Period |
2024-2030 |
|
Market Size in 2022 |
US$ 3,432.9 million |
|
Market CAGR |
6.8% |
|
By Product Type |
|
|
By Dosage Form |
|
|
By Application |
|
|
By Region |
|
Download Free Sample Report
The tire equine healthcare market size was valued at US$ 3,432.9 million in 2022.
The key segments covered in the tire equine healthcare market are technology, components, application, and end-users.
The Tire equine healthcare market key players Sanofi (Merial), Vetoquinol S.A., Purina Animal Nutrition LLC., Boehringer Ingelheim, Bayer AG, Elanco Animal Heath, Merck Animal Health, Zoetis (Pfizer Animal Health), Equine Health U.K., Equine Orthotics and Prosthetics, Virbac Group, Ceva Sante Animale
Key Market Players
Author
Muni Kumar Meravath is a seasoned Healthcare Market Research Analyst with over 6 years of experience in the healthcare domain, encompassing pharmaceuticals, medical devices, and diagnostics. A graduate in Pharmacy, he possesses a strong foundation in the intricacies of the healthcare sector. He further enhanced his expertise by pursuing an MBA in Pharmaceuticals, equipping him with valuable business acumen. His analytical skills and market insights have contributed to strategic decision-making and enhanced market positioning for various healthcare organizations. Committed to driving innovation and excellence, Muni continues to seek opportunities to improve healthcare delivery through data-driven insights.