Press release
Emerging Trends to Drive Equine Healthcare Market Growth at 6.3% CAGR Through 2029
Equine Healthcare Market
Equine Healthcare Market Size Growth Forecast: What to Expect by 2025?
The size of the equine healthcare market has seen considerable expansion in the past few years. The market, valued at $1.41 billion in 2024, is expected to reach $1.48 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 5.3%. The historical growth can be traced back to factors such as the aging equine population, the implementation of preventative healthcare measures, participation in equestrian sports and activities, increased consciousness among owners, and disease outbreak and control efforts.
How Will the Equine Healthcare Market Size Evolve and Grow by 2029?
In the coming years, the equine healthcare market is projected to experience significant growth, reaching $1.9 billion by 2029 with a 6.3% compound annual growth rate (CAGR). This anticipated growth during the forecast period can be linked to factors such as the advent of genetic testing and personalized medicine, equine wellness programs, the international expansion of equine events, readiness for zoonotic diseases, and adherence to anti-doping rules. The forecast period is likely to witness developing trends such as telemedicine and remote monitoring solutions, wearable technologies for horses, equine rehabilitation, and physical therapy, services specific to equine dental care and dentistry, as well as herbal and alternative therapies.
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What Drivers Are Propelling the Growth of Equine Healthcare Market Forward?
During the forecast period, the expansion of the equine healthcare market will be bolstered by the rising consciousness about the health of animals. As people become more aware of the ecosystem's dependence on animals, the significance of animal health becomes strikingly apparent. This need for robust animal health resonates not only with ensuring their safety and well-being, but also with the security and welfare of humans, as diseases can be easily transmitted from animals to people. As a result, both government and private entities are funding improvements in animal healthcare infrastructure across different nations. Case in point, as per the Health and Nutrition Survey by Euromonitor International Ltd., a UK-based research and data analytics firm, conducted in February 2023, it was found that the frequency of daily or near-daily pet treatment increased from 26% in 2021 to 29% in 2023. Consumers are placing growing emphasis on their pets' health needs over indulgences, prioritizing beneficial and functional treats. Thus, this amplified consciousness about animal health is set to bolster the equine healthcare market's trajectory in the forecast period.
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Which Emerging Trends Are Transforming the Equine Healthcare Market in 2025?
Leading firms in the equine healthcare sector are emphasizing preventative health care plans that provide foreseeable expenses and prioritize early intervention. The initiative strives to aid horse keepers in controlling their expenses and incentivizing early detection of health complications, leading to improved holistic equine health. For example, in September 2024, the Hook Norton Veterinary Group (HNVG Ltd) rolled out the Equiplan Gold Health Care Scheme, a plan designed to bolster veterinary services specific to horses. This strategic plan centres around preventative healthcare, catered specifically towards horse caregivers, to afford consistent veterinary expenses and expedite treatment of trivial issues before they escalate into serious conditions. The aim of the proactive care strategy is to enhance the overall health of horses and lessen the financial burden on their caretakers.
What Are the Key Segments in the Equine Healthcare Market?
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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Who Are the Key Players Shaping the Equine Healthcare Market's Competitive Landscape?
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 Geographic Markets Are Powering Growth 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.
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