Product Code: GVR-4-68039-986-8
Equine Healthcare Market Growth & Trends:
The global equine healthcare market size is expected to reach USD 5.91 billion by 2030, registering a CAGR of 8.32% during the forecast period, according to a new report by Grand View Research, Inc. Increasing product R&D, demand for equine diagnostics, investments by key industry stakeholders, and the rising prevalence of diseases in horses are some of the major factors contributing to the market growth. For instance, in September 2021, the U.S. Department of Agriculture invested around USD 3.0 billion in the animal nutrition and health sector.
The Covid-19 pandemic had a notable impact, particularly on the horse racing/ sports sector. It led to reduced access to equine care services and the cancelation of equine shows. Teaching, training, competitions, events, tourism-related activities, and recreational activities were all discontinued as a result of COVID-19. Horse racing was adversely impacted across the world, along with the demand for horse boarding. Only Sweden continued to hold races within the EU. According to a survey conducted by Hippolia, French Equine Industry Cluster, 68.8% of respondents believed the recovery of the shortfall is impossible, and all equine competitions have been discontinued. A total of USD 385.89 million in sport horse losses were incurred as per estimates. However, the market recovered in 2021 owing to easing lockdown measures and improved access to equine healthcare.
Growing technological advancement, R&D, and initiatives by market players in equine diagnostics are key factors driving the market. For instance, according to a July 2022 article published by the American Veterinary Medical Association, a study was carried out to assess the diagnostic performance of a unique helical fan beam-based CT utilized for imaging horses with clinical head and neck complications. A total of over 120 horses were involved, and the medical records of those who had undergone head or neck CT scans at two university hospitals were examined. Age, sex, breed, the primary complaint, the amount of sedation utilized, the length of the operation, the use of any further diagnostic imaging techniques, the imaging diagnosis, the clinical diagnosis, and any imaging-related problems were all noted. The CT system proved to have short scanning times and reliable utility for regular imaging of horses' teeth and sinuses.
Furthermore, the rising prevalence of diseases in horses is another factor propelling the market growth. West Nile Virus, for instance, was positively identified in a 10-year-old unvaccinated Quarter Horse stallion in Nevada County who was exhibiting transient fever and neurological symptoms by the California Department of Food and Agriculture in September 2022. This was the 8th confirmed case of the equine WNV in California in 2022. Other positive cases were identified in six counties: three in Kern, one in Nevada, one in Sacramento, one in San Luis Obispo, one in Tehama, and three in Tulare. This is expected to promote awareness regarding equine diseases while fueling demand for timely vaccination of horses.
Equine Healthcare Market Report Highlights:
- Based on product, the pharmaceuticals segment dominated the market with a share of over 25.96% in 2023 owing to a high uptake and wide availability of these products
- The others product segment comprising regenerative medicine and stem cell therapy solutions is projected to be the fastest growing segment in the forecast period
- Based on indication, parasite infections segment held the largest share of over 26.56% in 2023. It is due to the growing demand for effective parasiticides for the control of internal and external parasites
- The sports/racing activity segment dominated the market with a revenue share of over 56.38% in 2023 and is anticipated to grow at the fastest rate during the forecast period
- Based on distribution channel, veterinary hospitals and clinics held the largest share in 2023. The e-commerce segment is projected to expand at the fastest CAGR during the forecast period
- North America and Europe held notable shares in 2023. The Asia Pacific is expected to witness lucrative growth in the forecast period owing to a budding equine racing/ sports sector.
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation and Scope
- 1.2. Research Methodology
- 1.3. Information Procurement
- 1.3.1. Purchased Database
- 1.3.2. GVR's Internal Database
- 1.3.3. Secondary Sources
- 1.3.4. Primary Research
- 1.4. Information/Data Analysis
- 1.5. Market Formulation & Visualization
- 1.6. Data Validation & Publishing
- 1.7. Model Details
- 1.7.1. Commodity flow analysis
- 1.7.2. Global Market: CAGR Calculation
- 1.8. List of Secondary Sources
Chapter 2. Executive Summary
- 2.1. Market Outlook
- 2.2. Segment Outlook
- 2.3. Competitive Insights
Chapter 3. Equine Healthcare Market Variable Trends & Scope
- 3.1. Market Lineage Outlook
- 3.1.1. Parent Market
- 3.1.2. Ancillary Market
- 3.2. Market Dynamics
- 3.2.1. Market Driver Analysis
- 3.2.1.1. Include Growing R&D Initiatives,
- 3.2.1.2. Rise In Equine Health Complications,
- 3.2.1.3. Rising Popularity Of Equine-Assisted Therapy
- 3.2.1.4. Emergence Of Artificial Intelligence (AI) In Equine Health
- 3.2.2. Market Restraint Analysis
- 3.2.2.1. High Cost of Expenditure
- 3.2.2.2. Availability of Substitutes
- 3.2.3. Market Opportunity Analysis
- 3.2.4. Market Challenge Analysis
- 3.3. Equine Healthcare Market Analysis Tools
- 3.3.1. Industry Analysis - Porter's Five Forces
- 3.3.1.1. Bargaining power of suppliers
- 3.3.1.2. Bargaining power of buyers
- 3.3.1.3. Threat of substitution
- 3.3.1.4. Threat of new entrants
- 3.3.1.5. Competitive rivalry
- 3.3.2. PESTEL Analysis
- 3.3.2.1. Political & Legal landscape
- 3.3.2.2. Economic and Social landscape
- 3.3.2.3. Technological landscape
- 3.3.2.4. Environmental landscape
- 3.3.3. Regulatory Framework
- 3.3.4. Estimated Horse Population, by Key Countries, 2018 - 2023
- 3.3.5. Pricing Analysis
- 3.3.6. COVID-19 Impact Analysis
Chapter 4. Equine Healthcare Market: Product Estimates & Trend Analysis
- 4.1. Segment Dashboard
- 4.2. Equine Healthcare Market Product Movement Analysis
- 4.3. Equine Healthcare Market Size & Trend Analysis, By Product, 2018-2030 (USD Million)
- 4.3.1. Vaccines
- 4.3.1.1. Market estimates and forecasts 2018 to 2030 (USD Million)
- 4.3.2. Pharmaceuticals
- 4.3.2.1. Market estimates and forecasts 2018 to 2030 (USD Million)
- 4.3.2.2. Parasiticides
- 4.3.2.2.1. Market estimates and forecasts 2018 to 2030 (USD Million)
- 4.3.2.3. Anti-infectives
- 4.3.2.3.1. Market estimates and forecasts 2018 to 2030 (USD Million)
- 4.3.2.4. Anti-inflammatory & Analgesics
- 4.3.2.4.1. Market estimates and forecasts 2018 to 2030 (USD Million)
- 4.3.2.5. Other Pharmaceuticals
- 4.3.2.5.1. Market estimates and forecasts 2018 to 2030 (USD Million)
- 4.3.3. Medicinal Feed Additives
- 4.3.3.1. Market estimates and forecasts 2018 to 2030 (USD Million)
- 4.3.4. Orthobiologics
- 4.3.4.1. Market estimates and forecasts 2018 to 2030 (USD Million)
- 4.3.5. Diagnostics
- 4.3.5.1. Market estimates and forecasts 2018 to 2030 (USD Million)
- 4.3.5.2. Diagnostic Test Kits
- 4.3.5.2.1. Market estimates and forecasts 2018 to 2030 (USD Million)
- 4.3.5.3. Diagnostic Equipment
- 4.3.5.3.1. Market estimates and forecasts 2018 to 2030 (USD Million)
- 4.3.6. Software & Services
- 4.3.6.1. Market estimates and forecasts 2018 to 2030 (USD Million)
- 4.3.6.2. Practice Management Software
- 4.3.6.2.1. Market estimates and forecasts 2018 to 2030 (USD Million)
- 4.3.6.3. Imaging Software
- 4.3.6.3.1. Market estimates and forecasts 2018 to 2030 (USD Million)
- 4.3.6.4. Telehealth Software
- 4.3.6.4.1. Market estimates and forecasts 2018 to 2030 (USD Million)
- 4.3.6.5. Other Software
- 4.3.6.5.1. Market estimates and forecasts 2018 to 2030 (USD Million)
- 4.3.7. Other Products
- 4.3.7.1. Market estimates and forecasts 2018 to 2030 (USD Million)
Chapter 5. Equine Healthcare Market: Indication Estimates & Trend Analysis
- 5.1. Segment Dashboard
- 5.2. Equine Healthcare Market Movement Analysis
- 5.3. Equine Healthcare Market Size & Trend Analysis, Indication, 2018-2030 (USD Million)
- 5.3.1. Musculoskeletal Disorders
- 5.3.1.1. Market estimates and forecasts 2018 to 2030 (USD Million)
- 5.3.2. Parasitic Infections
- 5.3.2.1. Market estimates and forecasts 2018 to 2030 (USD Million)
- 5.3.3. Equine Herpes Virus
- 5.3.3.1. Market estimates and forecasts 2018 to 2030 (USD Million)
- 5.3.4. Equine Viral Arteritis (EVA)
- 5.3.4.1. Market estimates and forecasts 2018 to 2030 (USD Million)
- 5.3.5. Equine Influenza
- 5.3.5.1. Market estimates and forecasts 2018 to 2030 (USD Million)
- 5.3.6. West Nile Virus
- 5.3.6.1. Market estimates and forecasts 2018 to 2030 (USD Million)
- 5.3.7. Tetanus
- 5.3.7.1. Market estimates and forecasts 2018 to 2030 (USD Million)
- 5.3.8. Other Indications
- 5.3.8.1. Market estimates and forecasts 2018 to 2030 (USD Million)
Chapter 6. Equine Healthcare Market: By Activity Estimates & Trend Analysis
- 6.1. Segment Dashboard
- 6.2. Equine Healthcare Market Movement Analysis
- 6.3. Equine Healthcare Market Size & Trend Analysis, Activity type, 2018-2030 (USD Million)
- 6.3.1. Sports/Racing
- 6.3.1.1. Market estimates and forecasts 2018 to 2030 (USD Million)
- 6.3.2. Recreation
- 6.3.2.1. Market estimates and forecasts 2018 to 2030 (USD Million)
- 6.3.3. Other Activities
- 6.3.3.1. Market estimates and forecasts 2018 to 2030 (USD Million)
Chapter 7. Equine Healthcare Market: By Distribution Channel Estimates & Trend Analysis
- 7.1. Segment Dashboard
- 7.2. Equine Healthcare Market Movement Analysis
- 7.3. Equine Healthcare Market Size & Trend Analysis, By Distribution Channel, 2018-2030 (USD Million)
- 7.3.1. Veterinary Hospitals & Clinics
- 7.3.1.1. Market estimates and forecasts 2018 to 2030 (USD Million)
- 7.3.2. E-commerce
- 7.3.2.1. Market estimates and forecasts 2018 to 2030 (USD Million)
- 7.3.3. Equestrian Facilities
- 7.3.3.1. Market estimates and forecasts 2018 to 2030 (USD Million)
- 7.3.4. Other Channels
- 7.3.4.1. Market estimates and forecasts 2018 to 2030 (USD Million)
Chapter 8. Equine Healthcare Market: Country Estimates & Trend Analysis, by Product, Indication, Activity & Distribution Channel
- 8.1. Regional Dashboard
- 8.2. Equine Healthcare Market Share, By Region, 2023 & 2030, USD Million
- 8.3. Regional Outlook
- 8.4. North America
- 8.4.1. North America Equine Healthcare Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 8.4.2. U.S.
- 8.4.2.1. Key Country Dynamics
- 8.4.2.2. Competition Insights
- 8.4.2.3. U.S. Equine Healthcare Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 8.4.3. Canada
- 8.4.3.1. Key Country Dynamics
- 8.4.3.2. Competition Insights
- 8.4.3.3. Canada Equine Healthcare Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 8.4.4. Mexico
- 8.4.4.1. Key Country Dynamics
- 8.4.4.2. Competition Insights
- 8.4.4.3. Mexico Equine Healthcare Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 8.5. Europe
- 8.5.1. Europe Equine Healthcare Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 8.5.2. UK
- 8.5.2.1. Key Country Dynamics
- 8.5.2.2. Competition Insights
- 8.5.2.3. UK Equine Healthcare Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 8.5.3. Germany
- 8.5.3.1. Key Country Dynamics
- 8.5.3.2. Competition Insights
- 8.5.3.3. Germany Equine Healthcare Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 8.5.4. France
- 8.5.4.1. Key Country Dynamics
- 8.5.4.2. Competition Insights
- 8.5.4.3. France Equine Healthcare Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 8.5.5. Italy
- 8.5.5.1. Key Country Dynamics
- 8.5.5.2. Competition Insights
- 8.5.5.3. Italy Equine Healthcare Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 8.5.6. Spain
- 8.5.6.1. Key Country Dynamics
- 8.5.6.2. Competition Insights
- 8.5.6.3. Spain Equine Healthcare Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 8.5.7. Denmark
- 8.5.7.1. Key Country Dynamics
- 8.5.7.2. Competition Insights
- 8.5.7.3. Denmark Equine Healthcare Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 8.5.8. Sweden
- 8.5.8.1. Key Country Dynamics
- 8.5.8.2. Competition Insights
- 8.5.8.3. Sweden Equine Healthcare Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 8.5.9. Norway
- 8.5.9.1. Key Country Dynamics
- 8.5.9.2. Competition Insights
- 8.5.9.3. Norway Equine Healthcare Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 8.5.10. Netherlands
- 8.5.10.1. Key Country Dynamics
- 8.5.10.2. Competition Insights
- 8.5.10.3. Netherlands Equine Healthcare Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 8.5.11. Russia
- 8.5.11.1. Key Country Dynamics
- 8.5.11.2. Competition Insights
- 8.5.11.3. Russia Equine Healthcare Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 8.5.12. Switzerland
- 8.5.12.1. Key Country Dynamics
- 8.5.12.2. Competition Insights
- 8.5.12.3. Switzerland Equine Healthcare Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 8.6. Asia Pacific
- 8.6.1. Asia Pacific Equine Healthcare Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 8.6.2. Japan
- 8.6.2.1. Key Country Dynamics
- 8.6.2.2. Competition Insights
- 8.6.2.3. Japan Equine Healthcare Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 8.6.3. China
- 8.6.3.1. Key Country Dynamics
- 8.6.3.2. Competition Insights
- 8.6.3.3. China Equine Healthcare Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 8.6.4. India
- 8.6.4.1. Key Country Dynamics
- 8.6.4.2. Competition Insights
- 8.6.4.3. India Equine Healthcare Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 8.6.5. Australia
- 8.6.5.1. Key Country Dynamics
- 8.6.5.2. Competition Insights
- 8.6.5.3. Australia Equine Healthcare Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 8.6.6. South Korea
- 8.6.6.1. Key Country Dynamics
- 8.6.6.2. Competition Insights
- 8.6.6.3. South Korea Equine Healthcare Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 8.6.7. Thailand
- 8.6.7.1. Key Country Dynamics
- 8.6.7.2. Competition Insights
- 8.6.7.3. Thailand Equine Healthcare Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 8.7. Latin America
- 8.7.1. Latin America Equine Healthcare Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 8.7.2. Brazil
- 8.7.2.1. Key Country Dynamics
- 8.7.2.2. Competition Insights
- 8.7.2.3. Brazil Equine Healthcare Market Estimates And Forecasts, 2018 - 2030
- 8.7.3. Argentina
- 8.7.3.1. Key Country Dynamics
- 8.7.3.2. Competition Insights
- 8.7.3.3. Argentina Equine Healthcare Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 8.8. Middle East & Africa
- 8.8.1. Middle East & Africa Equine Healthcare Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 8.8.2. South Africa
- 8.8.2.1. Key Country Dynamics
- 8.8.2.2. Competition Insights
- 8.8.2.3. South Africa Equine Healthcare Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 8.8.3. Saudi Arabia
- 8.8.3.1. Key Country Dynamics
- 8.8.3.2. Competition Insights
- 8.8.3.3. Saudi Arabia Equine Healthcare Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 8.8.4. UAE
- 8.8.4.1. Key Country Dynamics
- 8.8.4.2. Competition Insights
- 8.8.4.3. UAE Equine Healthcare Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 8.8.5. Kuwait
- 8.8.5.1. Key Country Dynamics
- 8.8.5.2. Competition Insights
- 8.8.5.3. Kuwait Equine Healthcare Market Estimates And Forecasts, 2018 - 2030 (USD Million)
Chapter 9. Competitive Landscape
- 9.1. Market Participant Categorization
- 9.2. Participants Overview
- 9.3. Financial Performance
- 9.4. Product Benchmarking
- 9.5. Market Position Analysis, 2023 (Heat Map Analysis)
- 9.6. Strategy Mapping
- 9.6.1. Mergers And Acquisitions
- 9.6.2. Launch
- 9.6.3. Partnerships & Collaborations
- 9.6.4. Expansion
- 9.6.5. Others
- 9.7. Company Profiles
- 9.7.1. Zoetis
- 9.7.1.1. Participant's overview
- 9.7.1.2. Financial performance
- 9.7.1.3. Product benchmarking
- 9.7.1.4. Strategic initiatives
- 9.7.2. Arthrex Inc.
- 9.7.2.1. Participant's overview
- 9.7.2.2. Financial performance
- 9.7.2.3. Product benchmarking
- 9.7.2.4. Strategic initiatives
- 9.7.3. Dechra Pharmaceuticals
- 9.7.3.1. Participant's overview
- 9.7.3.2. Financial performance
- 9.7.3.3. Product benchmarking
- 9.7.3.4. Strategic initiatives
- 9.7.4. Boehringer Ingelheim
- 9.7.4.1. Participant's overview
- 9.7.4.2. Financial performance
- 9.7.4.3. Product benchmarking
- 9.7.4.4. Strategic initiatives
- 9.7.5. Ceva Sante Animale
- 9.7.5.1. Participant's overview
- 9.7.5.2. Financial performance
- 9.7.5.3. Product benchmarking
- 9.7.5.4. Strategic initiatives
- 9.7.6. Heska Corporation
- 9.7.6.1. Participant's overview
- 9.7.6.2. Financial performance
- 9.7.6.3. Product benchmarking
- 9.7.6.4. Strategic initiatives
- 9.7.7. Merck & Co Inc.
- 9.7.7.1. Participant's overview
- 9.7.7.2. Financial performance
- 9.7.7.3. Product benchmarking
- 9.7.7.4. Strategic initiatives
- 9.7.8. Esaote SpA
- 9.7.8.1. Participant's overview
- 9.7.8.2. Financial performance
- 9.7.8.3. Product benchmarking
- 9.7.8.4. Strategic initiatives
- 9.7.9. IDEXX Laboratories Inc.
- 9.7.9.1. Participant's overview
- 9.7.9.2. Financial performance
- 9.7.9.3. Product benchmarking
- 9.7.9.4. Strategic initiatives
- 9.7.10. Covetrus Inc.
- 9.7.10.1. Participant's overview
- 9.7.10.2. Financial performance
- 9.7.10.3. Product benchmarking
- 9.7.10.4. Strategic initiatives
- 9.7.11. Elanco
- 9.7.11.1. Participant's overview
- 9.7.11.2. Financial performance
- 9.7.11.3. Product benchmarking
- 9.7.11.4. Strategic initiatives
- 9.7.12. Cargill
- 9.7.12.1. Participant's overview
- 9.7.12.2. Financial performance
- 9.7.12.3. Product benchmarking
- 9.7.12.4. Strategic initiatives
- 9.8. List of Other Key Market Players
Chapter 10. Key Takeaways