Global Equine Healthcare Market: Future Growth Prospects Forecast To 2028

According to Precision Business Insights (PBI) latest report, the global equine healthcare market is expected to be worth USD 1,332.4 million in 2022, growing at a 7.5% CAGR from 2022 to 2028. The global equine healthcare market is segmented into the following by Product Type (Vaccines, Anti-Infectives, Anti-Parasites, Anti-Inflammatory, Supplemental Feed Additives, Others), By Dosage Form (Injectables, Inhalations/Oral Solution, Tablets, Others), By Application (Inflammatory Diseases, Infectious Diseases, Asthma, Parasites, Others) and Geography (North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa) Forecast to 2028. An increase in the prevalence of equine diseases such as equine influenza, rhinopneumonitis/equine herpesvirus, and other equine diseases are anticipated to propel the growth of the equine healthcare market over the forecast years. Moreover, rise in R&D for the development of novel therapeutics, vaccines, and nutritional supplements are anticipated to burgeon the growth of the market over the forecast years. For instance, in February 2020, European Commission granted marketing authorization to Boehringer Ingelheim for the new Aservo EquiHaler for horses suffering from severe equine asthma.

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Feed Additives Dominate the Equine Healthcare Market
Feed Additives dominate the market share and it is expected to grow with a CAGR x% from 2022-2028. Feed Additives are expected to grow drastically. Feed additives are some additives that contain antibiotics or other drugs that help livestock farmers to reduce the chances of their livestock becoming infected. It can also aid in growth and weight gain. Minerals play a pivotal role in the health of livestock and can improve weaning and conception rates, immune system response, and overall health. All these benefits add up to a more valuable livestock investment. considering these benefits every livestock farmer tends to buy feed additives which can lead to the growth of global equine healthcare market.

North America leads Equine Healthcare Market
In 2021, North America held the market share of 28.6% in the global equine healthcare market and the market is expected to grow at significant CAGR during the forecast period due to the increasing equine adoption rate in USA and Canada. Moreover, increase in prevalence of chronic diseases coupled with rapid vaccination in North America countries impel the growth of market. Asia Pacific region expected to record a significant growth rate over the forecast years owing to grow in horse racing industry in APAC countries such as Australia.

Strategic New Product Launches, Mergers, Acquisitions and Agreements are the key strategies adopted by market players
Equine Healthcare market further reveals that the key players increasingly adopting strategies such as launch of newer products, frequent product approvals, and long-term alliance to improve market revenue share and gaining significant geographic presence across the region. For instance, The virbac corporation has an expansion of business by several partnership programs with public research institutes to advance together in the development of innovative products like immunostimulants, micronutrition and biocides in Australia

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Key player's profiles in the report are Thermo Fisher Scientific (Affymetrix), Elanco Animal, Health (Bayer Animal Health), Boehringer Ingelheim, Ceva Santé Animale, Land o Lakes (Purina Mills LLC), EQUINE PRODUCTS UK LTD, Merck & Co. (Merck Animal Health), Sanofi (Merial), Vetoquinol S.A., Zoetis

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