Equine Healthcare Market Size - By Product (Vaccines, Pharmaceuticals, Medical Additives, Diagnostics), Indication (Parasite Control, Equine Encephalomyelitis, Equine Influenza), Distribution Channel, Global Forecast, 2023-2032

Equine Healthcare Market Size - By Product (Vaccines, Pharmaceuticals, Medical Additives, Diagnostics), Indication (Parasite Control, Equine Encephalomyelitis, Equine Influenza), Distribution Channel, Global Forecast, 2023-2032

Equine Healthcare Market Size

Equine Healthcare Market size was around USD 1.7 billion in 2022 and is expected to reach USD 3.2 billion by 2032 due to increasing demand, investments in the equine racing & sports sector along with the rising occurrence of equine diseases. According to the World Organisation for Animal Health (WOAH) report, equine influenza, equine infectious anaemia, rabies, West Nile fever, and Venezuelan equine encephalomyelitis were few of the common diseases observed in 2021.

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Equine healthcare refers to the specialized field of medical care and maintenance dedicated to horses, which are commonly referred to as equines. Equine healthcare includes wide range of services such as routine check-ups, vaccinations, dental care, nutrition management, surgical procedures, and the management of chronic and acute illnesses.

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COVID-19 Impact

The COVID-19 pandemic had significant negative impact on the equine healthcare industry. Supply chain disruptions affected the availability of industry including products and services for companion animal health including equine. Lockdowns and social distancing measures made it challenging for horse owners to access routine veterinary service care, impacting overall health management during the pandemic.

Equine Healthcare Market Trends

The market is poised for progression, driven by increasing various governments and commercial institutions that are investing in animal healthcare infrastructure, recognizing the potential transmission of diseases from animals to humans.

• Horses are frequently engaged in recreational activities, such as riding lessons and trail rides. In Minnesota, over 10% of households participate in trail riding, and about 8% engage in riding lessons, impacting expenditure on horse care, equipment, and activity fees. This recreational aspect adds USD 341 million in incremental economic value and generates 7,181 jobs in Minnesota.
• Furthermore, the presence of equine medicinal and diagnostic products, along with the existence of large veterinary hospitals, contributes to market expansion. For instance, the Philip Leverhulme Equine Hospital at the University of Liverpool in Northwest England offers state-of-the-art radiography, capable of producing 3D images of bone and soft tissue. This unique CT system, with its sliding rack design and large diameter, is the only one available for large animal patients in England.
• Also, the facility offer applications in planning reconstructive surgery and diagnosing head-related conditions, such as head shaking, dental problems, sinus diseases, and head trauma.

Equine Healthcare Market Analysis

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Based on product, the market is segmented into vaccines, pharmaceuticals, medicinal feed additives, diagnostics, and other products. A range of equine pharmaceuticals, including analgesics, anti-infectives, anti-inflammatories, and parasiticides, is utilized in the treatment of various conditions like reproductive, metabolic, infectious, and dermatological disorders in horses. In the year 2022, pharmaceuticals dominated the market with a substantial share of 32.8%.

• The market for both prescription and non-prescription medications has expanded due to increased spending on equestrian and equine health, driven by the efforts of industry participants. For example, Zoetis offers a wide array of medications, including equine parasiticides like the QUEST gel, Equest Pramox, Deosect 5% Spray Solution, among others.
   
• Similarly, in December 2022, the U.S. Food and Drug Administration (FDA) granted approval for Zycosan, a Anzac Animal Health LLC product, to manage clinical symptoms linked to osteoarthritis in horses.

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Based on indication, the equine healthcare market is classified into musculoskeletal disorders, parasite control, equine herpes, equine encephalomyelitis, equine influenza, tetanus, West Nile Virus, and other indications. The parasite control segment is expected to reach USD 853.5 million by 2032.

• Parasites, such as internal worms as well as external nuisances such as ticks and flies, can significantly impair equine health, resulting in a range of problems, including weight loss, colic, and skin irritations.
• Progress in parasite control products and techniques has also propelled the expansion of this sector. Pharmaceutical companies have devised anthelmintic drugs that are both more efficient and safer, enabling more precise and strategic deworming practices.

Based on distribution channel, the equine healthcare market is classified into veterinary hospital pharmacies, e-commerce, and other distribution channel. The veterinary hospital pharmacies segment accounted for USD 798.3 million in 2022.

• Veterinary hospital pharmacies and clinics have asserted dominance in the equine healthcare industry due to their central role in providing essential healthcare services and products.
• These hubs provide an extensive spectrum of medications, therapies, and expert advice for equine health conditions, establishing themselves as the primary choice for horse owners in search of professional healthcare and pharmaceutical remedies.

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The North America equine healthcare market is expected to grow at 6.2% by 2032.
 

• The presence of horse farms and the annual horse racing events significantly contribute to the overall equine population in the region. Rising cases of equine disease has propelled the industry. For instance, according to a study published in National Center for Biotechnology Information (NCBI), eastern equine encephalitis (EEE) is among the most severe arboviral encephalitis diseases found in the U.S. It is currently categorized as an emerging disease, with a consistent rise in the number of reported cases across a broader population. It is noted that annually, the U.S. reports between six to eight cases, primarily occurring from May to October, and most frequently observed in states such as Florida, Georgia, Maryland, Wisconsin, and New Jersey.

Equine Healthcare Market Share

The industry comprises intense competition, with key players and industry stakeholders actively implementing strategic measures. These include expanding their product portfolios, introducing upgraded products, forming partnerships, extending their presence to new regions, and engaging in mergers and acquisitions. Zoetis, Vetoquinol and Boehringer account for significant market share in the overall industry.

Market players operating in the market is as mentioned below

• Zoetis
• Boehringer Ingelheim International GmbH
• MERCK & CO., INC.
• Vetoquinol S.A.
• Ceva
• Hallmarq Veterinary Imaging
• SOUND
• ESAOTE SPA
• Dechra Pharmaceuticals PLC
• IDEXX Laboratories, Inc.
• Sante Animale

Equine healthcare Industry News

• In September 2022, Zoetis acquired NewMetrica, a animal health research institute. The acquisition aimed to develop innovative approach for transitioning veterinary care and animal welfare on a broader scale, emphasizing the achievement of high-quality or exceptional life standards for companion animals.
• In April 2022, Boehringer Ingelheim International GmbH launched renuTend, a novel stem cell therapy designed to enhance the healing of tendon and suspensory ligament injuries in horses. The introduction of this product provides veterinarians with a fresh therapeutic choice for addressing injuries related to tendons and suspensory ligaments. This strategy enabled company to add value to its existing portfolio and generate revenue from its sales.

The equine healthcare market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2018 to 2032 for the following segments

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By Product, 2018 – 2032 (USD Million)

• Vaccines
• Pharmaceuticals
• Parasiticides
  • Anti-Infective
  • Anti-Inflammatory & Analgesics
  • Other pharmaceuticals
• Medicinal Feed Additives
• Diagnostics
• Other products

By Indication, 2018 – 2032 (USD Million)

• Musculoskeletal disorders
• Parasite control
• Equine herpes
• Equine encephalomyelitis
• Equine influenza
• Tetanus
• West Nile Virus
• Other indications

By Distribution Channel, 2018 – 2032 (USD Million)

• Veterinary hospital pharmacies
• E-commerce
• Other distribution channels

The above information is provided for the following regions and countries

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Spain
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • Rest of Middle East & Africa