Global Equine Healthcare Market Report 2019

Horse engaged with his world.
Horse engaged with his world. Lenkadan

Newsdate: Monday, February 18, 2019, 10:00 am
Location: DUBLIN, Ireland

Horses are considered sports animals, companion animals, and working animals and provide employment and income in many developed and developing countries. The 2019 Global Equine Healthcare Market Report gives insight into the importance of horses and animal healthcare on a global scale.

Horse racing at Belmont Park in USA.

Horse racing at Belmont Park in USA

Increasing popularity of horse racing, a high equine adoption rate and substantial spending on animal healthcare are the major growth factors in market growth report.
© 2018 by Mike Lizzi

According to Equine Business Association (EBA), the U.S. and U.K are the biggest equine industries in the world. There are more than 446,000 horse-owning households in the U.K. itself. Moreover, in China horse clubs has increased around 1500% in recent years from 90 in 2010 to 1400 in 2017.

Thus, this growth in the horse racing and equine shows and leisure events have skyrocketed the demand for equine healthcare market and projected to grow during the forecast period.

Presence of major pharmaceutical players in the market such as Boehringer Ingelheim, Bayer AG, Merck & Co., Zoetis has made the market highly competitive by continuous innovation in the products. Moreover, growing demand for equine insurance in the developed countries will further drive the market.

However, legislation on horse racing will hinder the market during the forecast period. In terms of disease type, the market is segmented into West Nile Virus, Potomac horse fever, equine rabies, tetanus, equine influenza, and equine herpes virus.

Tetanus and West Nile Virus are some of the most prevalent diseases and expected to account for high market share in the market. Growing incidences of equine influenza, equine herpesvirus, and rabies during the forecast period will further provide market growth.

In terms of geography, North America held the largest share in the global equine healthcare market. Increasing popularity for horse racing, high equine adoption rate in the household and substantial spending on animal healthcare are the major growth factors.

Around 7 million Americans are directly involved in the equine industry and more than 2 million are horse owners. Europe emerged as the second largest equine healthcare market due to mounting demand for equine healthcare products in the region. The Asia Pacific is projected to grow at the fastest growth rate during the forecast period.

The growing focus of animal care in the region, rising affordability and awareness of equine healthcare products in countries such as China, India, and Australia would boost the market.

The key players currently engaged in equine healthcare market include Zoetis, Bayer AG, Boehringer Ingelheim (Merial), Vetoquinol S.A., Purina Animal Nutrition LLC, Merck & Co. (Merck Animal Health) among others. In January 2017, Boehringer Ingelheim and Sanofi exchanged Boehringer Ingelheim's consumer healthcare (CHC) business and Sanofi's animal health business (Merial) with each other to gain market dominance in respective fields.

Key Market Movements:

  • The growing popularity of horse racing in developed and developing regions
  • Growing awareness and affordability of equine healthcare products
  • Strict regulations associated with horse racing and horse breeding activities
  • The dominance of North America and Europe in an equine healthcare market

Press release:  Research and Markets

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