Equine Healthcare Market Size Estimated to Observe Significant Growth by 2025

Earlier this year, BEVA conducted an online anonymous survey to find out more about the use of non-veterinarian practices in the global equine healthcare market. With more than 7,000 horse owners and equine service providers taking part in the survey, the aim was to find out the exact extent and number of musculoskeletal, dental, and non-veterinarian practitioners are involved in the market. Efforts like these are made to keep the global equine healthcare market in check to prevent it from falling.

The equine market in general comprises all the business activities involving leisure riding, competitive riding, and horse racing. It is a multi-billion dollar industry with a substantial number of secondary markets. At the top of the list of secondary markets is the equine healthcare market.

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Equine Healthcare: The Options Available

The global equine healthcare market is broadly categorized through diagnostic products, therapeutic products, supplement products, and geography. The diagnostic products market contains a division of equine pregnancy and gestation diagnostics products, which is further divided into equine urine test kits and equine ultrasound devices. The other part is equine genotyping analysis products, which comprises genetic disease identification products, breed quality analyzers, and semen quality analyzers.

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The equine therapeutic products market includes:

Equine antibacterial products
Equine vaccines
Equine antiprotozoals
Equine antivirals
Equine laxatives
Equine anti-inflammatory drugs
Equine dopamine agonists

The performance supplements segment of the equine healthcare market includes:

Equine vitamins
Equine proteins
Equine electrolytes
Other equine supplements

The equine protection products market includes equine prosthetics market and the equine protection products market.

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Global Equine Healthcare Market Analysis

The foundation of stability, profits or losses in the global equine healthcare market is the current population of horses. A shift in this number will have a direct impact on the activities in all its secondary markets, including the equine healthcare market.

Analysts have determined that the highest return on interests in the equine market is derived from breeding horses. Most players in the market are involved in primarily breeding quality horses that are raised for a particular task. This is why horse breeding is widely considered a core sector in the global equine market and it involves choosing the breeding stock and managing the different breeds.

The global equine healthcare market is guided by its many regulatory bodies that define breeding and upkeep activities to maintain the quality of horses and to avoid the spreading of infections between the horses and from horses to humans. This makes maintaining the breed quality of horses the most important task, due to which there is a high demand for the breed quality analyzers or genotype analyzer kits in the market. This particular segment in the global equine healthcare industry is growing at a high CAGR of 15% from 2013 to 2019.

Effects of a Declining Primary Market

The equine market in general is slowly falling. Almost 50% of the North American horse owners are expected to show no interest in participating in equine events, shows, and racing as well. The horse owners have maintained that they will mostly shrink their equestrian operations to reach only the breeding subset of the value chain. While they do this to increase their ROI, the end segments of the market suffer due to a reduced supply. Most North American horse owners also prefer to export quality breed horses to other countries, particularly China and others in the Asia Pacific region.

In conclusion, the global equine healthcare market is currently a declining one, with a compounded annual rate of decline of 1.2% from 2013 to 2019. The market was valued at US$26.6 billion in 2012 and will slump towards an estimated value of US$24.5 billion in 2019. An industry that directly depends on the population of a particular species of animals is today, finding lower and lower use in conventional situations. There are however, opportunities that can be taken to revive the market, however rare they may be.

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