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Equine Veterinary Therapeutics market size reaches USD 2012.5 million by 2029 with a CAGR of 6.5% during 2023-2029

04-15-2024 04:09 PM CET | Advertising, Media Consulting, Marketing Research

Press release from: Quants and Trends

Equine Veterinary Therapeutics market

Equine Veterinary Therapeutics market

The global Equine Veterinary Therapeutics market size was valued at USD 1294.4 million in 2022 and is forecast to a readjusted size of USD 2012.5 million by 2029 with a CAGR of 6.5% during review period. The global Equine Veterinary Therapeutics Market is poised for significant growth in the coming years, driven by the increasing demand for advanced healthcare solutions for horses worldwide. As a leading healthcare researcher, we present a detailed overview of the market, including key players, market segmentation, regional analysis, strengths, weaknesses, opportunities, threats, past performance, forecast, research and development initiatives, and analytical frameworks like PESTEL and SIPOC.

Market Overview:
The Equine Veterinary Therapeutics Market refers to the industry dedicated to providing healthcare solutions for horses, addressing various medical conditions and promoting their well-being. This market encompasses a wide range of products and services, including pharmaceuticals, vaccines, diagnostic tools, and medical devices specifically designed for equine use.

Key Players:
• Boehringer Ingelheim
• Merck Animal Health
• Zoetis
• Elanco Animal Health
• Dechra Veterinary Products
• CEVA
• Virbac
• Norbrook Equine
• Kyoritsu Seiyaku
• Vetoquinol
• Protexin Healthcare
• Audevard

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Market Segmentation by Type:
• Drugs
• Vaccine
• Other

Market Segmentation by Application:
• Veterinary Hospital
• Veterinary Clinics
• Other

US Market
The United States stands as a frontrunner in the Equine Veterinary Therapeutics Market, boasting a robust infrastructure for veterinary care and a substantial equine population. With increasing awareness about animal health and a growing emphasis on performance enhancement in equestrian sports, the demand for veterinary therapeutics continues to surge. Moreover, the presence of leading pharmaceutical companies dedicated to animal health further propels market growth.

EUROPE Market
Europe represents another lucrative market for equine veterinary therapeutics, characterized by a strong equestrian tradition and stringent regulatory standards ensuring the safety and efficacy of veterinary products. Countries like Germany, France, and the United Kingdom are witnessing substantial investments in research and development, fostering innovation in equine healthcare. Additionally, the rise in pet ownership and the flourishing equestrian industry contribute to the market's expansion in this region.

APAC Market
The Asia-Pacific region emerges as a promising market for equine veterinary therapeutics, driven by the increasing adoption of horses for leisure activities, sports, and agriculture. Rapid urbanization and rising disposable incomes have led to a surge in demand for high-quality veterinary care, spurring market growth. Countries like Australia, Japan, and China are witnessing notable investments in veterinary infrastructure and the development of advanced therapeutic solutions.

Middle-East Market
The Middle-East market for equine veterinary therapeutics is witnessing steady growth, propelled by the region's thriving equestrian culture and burgeoning interest in horse racing and endurance sports. With governments investing in modernizing veterinary facilities and promoting animal welfare, the market is poised for significant expansion in the coming years. Moreover, partnerships between local and international pharmaceutical companies are driving innovation and market penetration.

Market Segmentation by Regions:
• North America (United States, Canada, and Mexico)
• Europe (Germany, France, UK, Russia, Italy, and Rest of Europe)
• Asia-Pacific (China, Japan, South Korea, India, Southeast Asia, Australia and Rest of Asia-Pacific)
• South America (Brazil, Argentina and Rest of South America)
• Middle East & Africa (Turkey, Saudi Arabia, UAE, Rest of Middle East & Africa)

For Exhaustive Table of Contents and Tables and Figures, please visit @ https://quantsandtrends.com/Equine-Veterinary-Therapeutics-Market

Market Strengths:
• Increasing awareness about equine healthcare.
• Technological advancements in veterinary medicine.
• Rising demand for performance-enhancing drugs and supplements.
• Growing investments in research and development.

Market Weaknesses:
• High cost associated with advanced therapeutics.
• Limited availability of specialized veterinary services in certain regions.
• Regulatory challenges related to drug approvals and licensing.

Market Opportunities:
• Untapped potential in emerging markets.
• Expansion of product portfolios to address unmet medical needs.
• Strategic partnerships and collaborations for market penetration.

Market Threats:
• Stringent regulations governing the use of certain drugs.
• Competition from alternative therapies and traditional remedies.
• Economic downturns affecting disposable income for horse owners.

Market Past Performance
Historically, the Equine Veterinary Therapeutics Market has demonstrated steady growth, fueled by factors such as the increasing prevalence of equine diseases, rising awareness about animal health, and advancements in veterinary medicine. The market has witnessed a surge in demand for anti-infective agents, vaccines, and analgesics, reflecting the evolving needs of equine healthcare practitioners and owners.

Market Forecast
The Equine Veterinary Therapeutics Market is poised for exponential growth in the coming years, driven by factors such as the growing equine population, rising expenditure on animal healthcare, and advancements in treatment modalities. North America and Europe retaining their dominance while Asia-Pacific emerges as the fastest-growing region.

Market Research and Development
Research and development efforts in the Equine Veterinary Therapeutics Market are focused on developing novel treatment modalities, enhancing drug efficacy, and ensuring safety for equine patients. Collaborations between pharmaceutical companies, academic institutions, and research organizations are fostering innovation in areas such as regenerative medicine, targeted therapies, and personalized medicine for horses.

Market PESTEL Analysis:
A comprehensive PESTEL (Political, Economic, Social, Technological, Environmental, and Legal) analysis helps in understanding the external factors influencing the Equine Veterinary Therapeutics Market and shaping its future trajectory.

Market SIPOC Analysis:
A SIPOC (Suppliers, Inputs, Process, Outputs, Customers) analysis provides insights into the various components of the market ecosystem, highlighting key stakeholders and their roles in delivering value to customers.

Conclusion:
In conclusion, the Equine Veterinary Therapeutics Market presents lucrative opportunities for players across the globe, driven by increasing investments in animal healthcare, technological advancements, and growing awareness about equine welfare. However, challenges such as regulatory hurdles and economic uncertainties must be addressed through strategic initiatives and collaborations to ensure sustained growth and innovation in the industry.

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Pune-411019, Maharashtra, India.
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