Press release
Equine Healthcare Market is Expected to Fall to US$ 24.5 Billion by the End of 2019
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According to the report, the key factor responsible for the shrinking global equine healthcare market is the falling rate of horse breeding undertaken on a global scale. The consequent drop in equine population has also created a faster decline in the global equine healthcare market.The global equine healthcare market, as per the report, is a major secondary market for the global equine industry. The equine industry is currently a multibillion-dollar industry and covers races and the wagering involved, leisure horse riding, and competitive horse riding. It also includes a list of secondary markets, including the global equine healthcare market.
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As a precursor to the global equine healthcare market forecasts, the report also explains that any change in the equine population directly affects the global equine healthcare market. As such, a fall in horse numbers will result in a lower demand for their healthcare products.Consequently, the focus of multiple equestrian companies has shifted from specific fields of the global equestrian industry to a holistic approach towards horse breeding. Most companies have adopted this strategy in order to maximize their ROI in equine business operations. Expert opinions reveal horse breeding to be the lone profit-making endeavor in the global equestrian industry.
The report divides the global equine healthcare market into three segments on the basis of products: diagnostic products, supplements, and therapeutic products.The report notes that the growth rate of one product segment – equine diagnostic products – remains higher than the rest. This is directly attributed to the changes in regulatory compliance brought on by multiple governing agencies in favor of genotype labeling or tagging of all meat sources. The procedure is used to differentiate various types of meats in order to curb the spreading of infections between humans and horses.
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