PUBLISHER: The Business Research Company | PRODUCT CODE: 1248952
PUBLISHER: The Business Research Company | PRODUCT CODE: 1248952
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“Equine Healthcare Global Market Report 2023 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on equine healthcare market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for equine healthcare? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The equine healthcare market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Companies Mentioned: Ethos Veterinary Health LLC; Greencross Limited; Idexx Laboratories; National Veterinary Care Ltd; Patterson Companies Inc.,
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery Format: PDF, Word and Excel Data Dashboard.
Major players in the equine healthcare market are: Ethos Veterinary Health LLC, Greencross Limited, Idexx Laboratories, National Veterinary Care Ltd., Patterson Companies Inc., Addison Biological Laboratory Inc., Animart LLC, CVS Group PLC, Merck & Co. Inc., Zoetis, Boehringer Ingelheim, Covetrus, Elanco, Bayer AG, Ceva Sante Animale, Virbac, and Vetoquinol.
The global equine healthcare market grew from $1.28 billion in 2022 to $1.37 billion in 2023 at a compound annual growth rate (CAGR) of 7.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The equine healthcare market is expected to grow to $1.76 billion in 2027 at a CAGR of 6.5%.
The equine healthcare market includes revenues earned by entities by taking care of a horse for vaccinations, parasite control, and dental care. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
Equine healthcare refers to healthcare services that are engaged in offering services and products intended for treating horses to enhance their quality of life, to develop the quality of animal food and to increase their lifespan. Equine healthcare includes veterinary services provided to horses used for racing and betting, competitive riding, and leisure. Routine veterinary care for vaccinations, parasite control, dental care, grooming, hoof care, and protection from natural elements such as rain, wind, and snow are all part of equine healthcare.
North America was the largest region in the equine healthcare market in 2022. The regions covered in the equine healthcare report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The main product types of equine healthcare are drugs, vaccines, and medical feed additives. Drugs are pharmacologically active substances administered to horses in the incident of any disease. The different diseases include equine influenza, equine herpes virus, equine encephalomyelitis, West Nile virus, equine rabies, Potomac horse fever, and tetanus and are distributed through veterinary hospitals and clinics, retail pharmacy, and online pharmacies.
The growing awareness of animal healthcare will support the growth of the equine healthcare market during the forecast period. People are becoming more aware of the importance of animals in the ecosystem, and animal health is critical not just for their safety and well-being, but also for the safety and well-being of humans. The diseases in animals can easily be transferred to humans hence, governments and private institutions are investing to develop the animal healthcare infrastructure in various countries. For instance, in September 2021, the US department of agriculture announced an investment of $3 billion in animal health and nutrition. Thus, the rising awareness among the human population about the importance of animal healthcare and increasing investment in animal healthcare will support the growth of the market, during the forecast period.
The introduction of new and effective products by key manufacturers in equine healthcare for rapid detection of disease in the equine population and to ensure better therapeutic outcomes is a key trend in the market. For instance, in June 2021, Epona Biotec, a veterinary startup dedicated to advancing equine health care, launched the VetTrue System, a remote temperature-monitoring system for horses. A team of veterinary, equestrian, and technology professionals developed the VetTrue System to provide a more accurate, less invasive health-monitoring solution for veterinarians, horse owners, and professionals in the equestrian industries. The VetTrue System makes use of a single-use TailTab temperature sensor that is securely attached beneath the tail. Once implanted, the horse's temperature is continuously monitored and transferred to the VetTrue App through Bluetooth.
In October 2021, IVC Evidensia, a UK-based veterinary care provider acquired VetOne Group for an undisclosed amount. With this acquisition, IVC Evidensia expanded its veterinary care services across France to 155 veterinary clinics and hospitals. VetOne Group is a France-based provider of quality veterinary resources to the animal health industry.
The countries covered in the equine healthcare market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The equine healthcare market research report is one of a series of new reports from The Business Research Company that provides equine healthcare market statistics, including equine healthcare industry global market size, regional shares, competitors with an equine healthcare market share, detailed equine healthcare market segments, market trends and opportunities, and any further data you may need to thrive in the equine healthcare industry. This equine healthcare market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.