Press release
Equine Healthcare Market: Comprehensive Analysis and Forecast -2028
Equine Healthcare
Market Overview: In 2020, the global market stood at US$ 698.7 million, with an estimated Compound Annual Growth Rate (CAGR) of 4.3% projected from 2021 to 2028. By the end of 2028, it is expected to surpass US$ 972.8 million.
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Analysis of Market Scenario: Amid the COVID-19 pandemic, equine practitioners have implemented stringent biosecurity measures across farms, performance venues, and racetracks. However, recurring common horse healthcare issues have impeded market growth. To address this, stakeholders must enhance awareness regarding regular de-worming schedules and professional veterinary advice. Notably, corticosteroids and bisphosphonates like tiludronate disodium (Tildren) are widely used therapeutics, necessitating further research on their efficacy in young horses.
Revenue Opportunities from Comprehensive Vaccine Portfolio: Equine healthcare providers are conducting risk-benefit analyses to determine optimal vaccination strategies, emphasizing the importance of equine influenza and strangle vaccines. Moreover, manufacturers are developing anthrax vaccines for horses in high-risk areas and tailoring vaccines for pregnant mares. Expansion in vaccine portfolios, including equine herpesvirus and botulism vaccines, is observed.
Guidance from AVMA: The AVMA's recommendations during the pandemic prioritize the safety of equine veterinarians, advocating for a combination of control measures to minimize infection transmission. Telemedicine is increasingly adopted, and non-urgent procedures are rescheduled.
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Professional Intervention to Address Common Ailments: Market participants emphasize seeking professional veterinary advice to mitigate common horse healthcare issues like laminitis and thrush. The prevalence of allergies, colic, and mud fever underscores the demand for healthcare services, translating into revenue growth.
Early Detection through Wearable Technology: Apart from traditional interventions, research and development focus on equestrian sports technology, particularly wearables for horses. These devices facilitate early detection of healthcare issues by monitoring vital signs, presenting opportunities for med-tech companies.
Focus on Safety and Welfare: In the racing industry, medication regulations evolve to ensure fairness, horse safety, and public trust. Corticosteroids, NSAIDs, and bisphosphonates are key therapeutic agents, with racing regulators considering extending drug withdrawal periods to 48 hours pre-race.
Drivers and Challenges: The equine industry's economic significance, coupled with the prevalence of equine infections, drives market growth. However, a decline in the global equine population poses a challenge to market expansion.
Competition Landscape: The industry comprises global players like Bayer AG, Boehringer Ingelheim, and Zoetis. Strategies include regulatory approvals, technological advancements, and acquisitions to enhance market presence.
Market Segmentation: The market is segmented by product type (Drugs, Vaccines, and Supplemental Feed Additives), disease type, distribution channel, and region, offering comprehensive insights into regional dynamics and industry trends.
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