Press release
Strong Growth Ahead: Equine Healthcare Market Size To Grow At Arecord 6.4% Cagr By 2029
Equine Healthcare
What Is the Projected Growth of the Equine Healthcare Market?
In recent times, the equine healthcare market has been expanding significantly. It is estimated to climb from $1.41 billion in 2024 to about $1.49 billion in 2025, marking a compound annual growth rate (CAGR) of 5.6%. Factors contributing to this growth over the historical period include an aging equine population, implementation of preventive healthcare practices, engagement in equestrian sports and activities, increased owner awareness, and disease outbreak management and control.
In the upcoming years, substantial expansion is anticipated in the equine healthcare market. It is projected to surge to $1.91 billion by 2029, boasting a compound annual growth rate (CAGR) of 6.4%. Factors contributing to this predicted growth include the application of genetic testing and personalized medicine, equine wellness programs, the international reach of equine events, preparation for zoonotic diseases, and adherence to anti-doping rules. Looking ahead, key trends are expected to be telehealth and remote monitoring solutions, wearable tech for horses, equine rehabilitation alongside physical therapy, equine dental care and dental services, along with herbal and alternative treatments.
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What Are the Different Equine Healthcare Market Segments?
The equine healthcare market covered in this report is segmented -
1) By Product Type: Drugs, Vaccines, Medical Feed Additives
2) By Disease: Equine Influenza, Equine Herpes virus, Equine Encephalomyelitis, West Nile Virus, Equine Rabies, Potomac Horse Fever, Tetanus
3) By Distribution: Veterinary Hospitals And Clinics, Retail Pharmacy, Online Pharmacies
Subsegments:
1) By Drugs: Anti-Inflammatories, Antibiotics, Pain Management Medications, Anesthetics, Hormonal Therapies
2) By Vaccines: Core Vaccines, Risk-Based Vaccines, Combination Vaccines
3) By Medical Feed Additives: Nutritional Supplements, Probiotics And Prebiotics, Performance Enhancers, Medicated Feeds
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What Are the Primary Drivers Shaping the Equine Healthcare Market?
During the forecast period, the escalating enlightenment regarding animal healthcare will propel the development of the equine healthcare market. Society is progressively recognizing the significance of animals in the ecosystem, understanding that the health of animals is not only vital for their protection and welfare, but also crucial to human safety and health. Diseases in animals can be swiftly transmitted to humans, therefore, government bodies and private entities are making investments to enhance animal healthcare facilities across diverse nations. For instance, in February 2023, data from the Voice of the Consumer: Health and Nutrition Survey by Euromonitor International Ltd., a British data analytics and research firm, showed that the rate of everyday or almost everyday pet treatment jumped from 26% in 2021 to 29% in 2023. Consumers are more and more prioritizing health over pampering, opting for nutritious and functional treats. Consequently, the rising consciousness about animal healthcare will buttress the expansion of the equine healthcare market, in the projected period.
Which Companies Are Leading in the Equine Healthcare Market?
Major companies operating in the equine healthcare market include Merck & Co. Inc., Boehringer Ingelheim, Zoetis Inc., Patterson Companies Inc., Elanco, Idexx Laboratories Inc., Covetrus, Ceva Sante Animale, Virbac, Hilltop BioSciences Inc., Dechra Pharmaceuticals plc, CVS Group PLC, Vetoquinol, Purina Animal Nutrition LLC, Applied Biologics, SOUND, Hallmarq Veterinary Imaging, Ethos Veterinary Health LLC, Addison Biological Laboratory Inc., Animart LLC, Prisma Imaging, Bimini LLC, Equine Therapy Solutions
What Trends Are Expected to Dominate the Equine Healthcare Market in the Next 5 Years?
Leading businesses in the equine healthcare sector are moving towards the development of anticipatory health care plans which provide stable costs and focus on early intervention. These plans are designed to assist horse owners in controlling their expenses and promoting early detection of medical conditions, in turn fostering improved equine welfare. Take for instance, in September 2024, the launch of the Equiplan Gold Health Care Scheme by Hook Norton Veterinary Group (HNVG Ltd), a program developed to enhance veterinary services for horses. The scheme underlines preventive health care with a particular focus on horse owners, offering them a steady stream of veterinary costs and encouraging early management of minor problems to prevent them from escalating into emergencies. The proactive approach, adopted by the scheme, aims to enhance the overall health of horses and simultaneously reduce financial burdens on their owners.
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What Are the Top Revenue-Generating Geographies in the Equine Healthcare Market?
North America was the largest region in the equine healthcare market in 2024. The regions covered in the equine healthcare market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Equine Healthcare Market?
2. What is the CAGR expected in the Equine Healthcare Market?
3. What Are the Key Innovations Transforming the Equine Healthcare Industry?
4. Which Region Is Leading the Equine Healthcare Market?
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