(MENAFN- IMARC Group)
IMARC Group, a leading market research company, has recently releases report titled
“Equine Healthcare Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032, ” The study provides a detailed analysis of the industry, including the
global equine healthcare market size, share, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights:
How big is the equine healthcare market ?
The global equine healthcare market size reached US$ 1.5 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 2.5 Billion by 2032, exhibiting a growth rate (CAGR) of 5.6% during 2024-2032.
Factors Affecting the Growth of the Equine Healthcare Industry:
Growing Interest in Equestrian Sports and Recreation:
The global equine healthcare market is significantly influenced by the increasing popularity of equestrian sports and recreational activities. With a rise in equine events like racing, show jumping, and dressage, there's a corresponding increase in the need for comprehensive healthcare to ensure horse wellness and peak performance. This trend results in heightened demand for veterinary services, nutritional supplements, and injury management products. As owners and trainers become more invested in the competitive success and recreational enjoyment of their horses, they seek advanced healthcare solutions, which is boosting the market for equine health products and services.
Advancements in Veterinary Medicine and Technologies:
Technological advancements in veterinary healthcare play a crucial role in driving the equine healthcare market. Innovations in diagnostics, treatment, and preventive care, such as improved imaging techniques, regenerative therapies, and advanced pharmaceuticals, enhance the quality and effectiveness of equine healthcare. These advancements not only aid in the timely diagnosis and treatment of diseases but also contribute to better management of horse health, extending their active life and performance. The adoption of these technologies by veterinarians and horse owners signifies a growing market trend toward sophisticated healthcare solutions for equines.
Increased Awareness and Spending on Horse Health and Welfare:
There is a growing global awareness and concern for the welfare and health of horses among owners, trainers, and enthusiasts. This heightened consciousness has translated into increased spending on equine healthcare, including preventive care, nutritional management, and treatment of illnesses. The welfare of horses is being prioritized, leading to more regular health check-ups, vaccinations, and the use of quality feed and supplements. The trend of viewing horses as valuable companions or athletes rather than just livestock is fundamentally shifting the approach toward their healthcare, which is fostering the market growth as owners and caretakers are more willing to invest in maintaining and improving the health and well-being of their equines.
Request for a sample copy of this report:
https://www.imarcgroup.com/equine-healthcare-market/requestsample
Global Equine Healthcare Market Trends:
The increasing emphasis on preventive healthcare and wellness represents one of the key factors driving the growth of the equine healthcare market across the globe. This, coupled with the rising focus of horse owners and caretakers on regular health check-ups, vaccinations, and nutritional management is influencing the market growth. In addition to this, the market is witnessing a rise in the use of technology in equine healthcare, including advanced diagnostic tools, wearable health monitors, and telemedicine services, offering more efficient and timely care.
Another significant trend is the growing awareness and concern for horse welfare, which is driving the demand for more humane and ethical treatment options, as well as natural and organic healthcare products. In line with this, the popularity of equine sports and competitive events continues to influence the market, thus necessitating high-performance healthcare products and services.
What is included in market segmentation?
The report has segmented the market into the following categories:
Market Breakup by Product:
Drugs Anti-Inflammatory Drugs Parasiticide Drugs Others
Vaccines Live Attenuated Vaccine Recombinant Vaccine Others
Medicated Feed Additives Diagnostics Others
Drugs hold the largest product segment in the global equine healthcare market due to the high demand for effective treatments for a wide range of equine diseases and health conditions.
Market Breakup by Indication:
Musculoskeletal Disorders Parasite Control Equine Herpes Virus Equine Encephalomyelitis Equine Influenza West Nile Virus Tetanus Rabies Others
Parasite control is the largest indication segment in the equine healthcare market as it is a fundamental and routine aspect of equine healthcare, necessary for maintaining the overall health and performance of horses.
Market Breakup by Distribution Channel:
Veterinary Hospitals and Clinics Retail Pharmacies and Drug Stores
Veterinary hospitals and clinics represent the largest distribution channel segment in the equine healthcare market as they are primary care centers providing a wide range of healthcare services and products for horses.
Market Breakup by Region:
North America (United States, Canada) Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others) Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others) Latin America (Brazil, Mexico, Others) Middle East and Africa
North America leads as the largest region in the equine healthcare market, driven by a well-established equine industry, high participation in equine sports, and advanced veterinary healthcare infrastructure.
Who are the key players operating in the industry?
The report covers the major market players including:
Boehringer Ingelheim International GmbH Ceva Dechra Pharmaceuticals PLC Elanco Animal Health Incorporated Esaote SpA Hallmarq Veterinary Imaging IDEXX Laboratories Inc. Merck & Co. Inc. Vetoquinol S.A. Zoetis Inc
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
Contact US:
IMARC Group
134 N 4th St. Brooklyn, NY 11249, USA
Email:
Tel No:(D) +91 120 433 0800
United States: +1-631-791-1145 | United Kingdom: +44-753-713-2163
MENAFN18032024004122016232ID1107989770
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.