About Equine Healthcare
Horses are considered sports animals, companion animals, and working animals and provide employment and financial gain in several developed and developing countries. World equestrian market consists of horse racing and betting, competitive riding and leisure. It supports varied secondary markets of that equine healthcare is major. This market includes equine diagnostic merchandise, supplement merchandise and therapeutic merchandise. The participants attracted by high come on investment (ROI) are resulting in market growth. Also, investment by varied alternative nations in racing is driving the expansion of this market. However, handiness of alternatives to gambling like online betting and therefore the declining population of equine is limiting the expansion of this market.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The players are highly fragmented in the market. The growing focus of animal care in the region, rising affordability and awareness of equine healthcare products in countries. Moreover, growing demand for equine insurance in the developed countries will further drive the market. However, legislation on horse racing will hinder the market. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Equine Healthcare market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Merck Animal Health (United States), Boehringer Ingelheim Vetmedica (Germany), Affymetrix (United States), Elanco Animal Heath (United States), Zoetis (Pfizer Animal Health) (United States), Equine Health U.K. (United Kingdom), Nutreco N.V. (Netherlands), Phirbo Animal Health (United States), Bayer (Germany), Cargill (United States), Dechra Pharmaceuticals (United Kingdom), Ceva Sante Animale (France), Evonik Industries (Germany) and Eli Lilly and Company (United States) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Equine Healthcare market by Type (Supplement Product, Therapeutic Product and Diagnostic Product), Application (Race Equine and Sport Equine) and Region.
On the basis of geography, the market of Equine Healthcare has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Therapeutic , the sub-segment i.e. Equine Therapeutics Market will boost the Equine Healthcare market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Distribution Channel, the sub-segment i.e. Veterinary Hospitals and Clinics will boost the Equine Healthcare market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Supplement, the sub-segment i.e. Equine Performance Supplements will boost the Equine Healthcare market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Diagnostic, the sub-segment i.e. Equine Pregnancy will boost the Equine Healthcare market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Growing Demand for Equine Insurance in The Developed Countries
Market Growth Drivers:
The Growing Popularity of Horse Racing in Developed and Developing Regions, Growing Awareness and Affordability of Equine Healthcare Products and High Equine Adoption Rate in The Household
Challenges:
Lack Of Awareness About the Various Products in The Under-Developed Regions and Increasing Trend of The Indoor Games Like Gambling Have Affected the Sale
Restraints:
Strict Regulations Associated with Horse Racing and Horse Breeding Activities
Opportunities:
Increase In Research and Development Activities and Increased Sale of Products
Market Leaders and their expansionary development strategies
In January 2024, Altano Group announces the acquisition of McKee Pownall Equine Services, an equine veterinary medicine in the greater Toronto, Ontario, area. The pair view the strategic partnership as a significant step in Altano’s commitment to shaping the future of global equine healthcare.
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 industry. 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.
Key Target Audience
Manufacturers of Equine Healthcare, Suppliers and distributors of Equine Healthcare, Governmental and Regulatory bodies and End-Users
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.