Rise In Incidences of Zoonotic Diseases; Equine Healthcare Market Size Set To Grow By $582.4 mn From 2024-2028

The global equine healthcare market size is estimated to grow by USD 582.4 million from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  6.78%  during the forecast period. The rise in incidences of zoonotic diseases is driving market growth, with a trend towards the adoption of new technologies. However, the high costs associated with equine healthcare pose a challenge. Key market players include Alltech Inc., Boehringer Ingelheim International GmbH, Central Garden and Pet Co., Ceva Sante Animale, Dechra Pharmaceuticals Plc, Elanco Animal Health Inc., Equine Products UK LTD., Esaote Spa, Forte Healthcare Ltd., Hallmarq Veterinary Imaging Ltd., IDEXX LABORATORIES INC., Jacks Inc., Kemin Industries Inc., Land O Lakes Inc., Merck KGaA, Peak Equine Health, Scone Equine Group, Thermo Fisher Scientific Inc., Vetoquinol SA, and Zoetis Inc.

Market Driver

The equine healthcare market is experiencing significant growth due to the adoption of new technologies by vendors. Increased research and development investments. Notable advancements include Zoetis’ expansion of its Vetscan Imagyst platform with new AI applications for dermatology and equine feline fecal analysis in March 2023. IDEXX’s January 2022 improvements to its products and services, streamlining veterinary practice operations and providing better insights, also contribute to market growth. These developments underscore the importance of innovation in addressing the needs of the equine industry.

Market Challenges

The Equine Healthcare Market faces several challenges in providing optimal care for the equine population. Equine industry participants deal with various diseases such as Equine Herpes, Equine Infectious Anemia, Equine Influenza, Rabies, West Nile Fever, and Venezuelan Equine Encephalomyelitis. Equine healthcare requires specialized equipment like equine vaccination programs, parasite control through parasiticides, and equine pharmaceuticals. Skilled veterinarians play a crucial role in equine healthcare, utilizing medicinal feed additives and regenerative therapies like stem cell therapy.

Horse farms and racing events prioritize equine health plans to ensure the well-being of their horses during recreational activities. The EquiTrace platform facilitates disease tracking and control. Equine industry challenges include Tetanus, EIA, and Equine influenza outbreaks at horse farms. Minnesota and other regions grapple with parasite control and vaccination programs. Overall, the equine healthcare market demands continuous innovation to address these challenges and maintain the health of horses.

Research Analysis

Equine healthcare refers to the prevention, diagnosis, and treatment of diseases in horses. The Equine diseases, such as Equine Infectious Anemia (EIA), Rabies, West Nile Fever, and Venezuelan Equine Encephalomyelitis (VEE), pose significant threats to the equine population and the equine industry. Equine industry participants, including equine veterinary practitioners, rely on advanced technologies like CT systems and vaccines to protect horses from these diseases.

Animal vaccine manufacturers produce effective vaccines against various equine diseases, ensuring the health and well-being of the equine population. Skilled veterinarians design and implement equine healthcare plans to prevent the spread of diseases and ensure the overall health of horses. Companies like Arenus Animal Health provide a range of equine healthcare products, including vaccines and diagnostic tools, to support the equine industry. Biothermo microchips are used for temperature monitoring in horses, contributing to early disease detection and effective treatment. Equine vaccination programs are crucial for disease prevention and control in the equine industry.

Market Research Overview

The equine healthcare market encompasses a range of products and services designed to maintain the health and well-being of horses. Animal healthcare spending on equines continues to grow, driven by increasing demand for advanced diagnostics, vaccines, and pharmaceuticals. Equine diseases such as equine encephalomyelitis, equine herpes, equine influenza, tetanus, rabies, and Venezuelan equine encephalomyelitis pose significant challenges, leading to a focus on preventative measures like vaccination programs and parasite control using parasiticides and medicinal feed additives.

Equine industry participants include horse farms, racing events, recreational activities, and equine veterinary practitioners. Innovations in equine healthcare include CT systems, diagnostics, e-commerce platforms like EquiTrace, and emerging technologies like regenerative therapies and stem cell therapy. Horses require specialized equipment and care, and equine healthcare products cater to these needs. Animal insurance offers financial protection against veterinary costs. Arenus Animal Health is one of many companies providing solutions in this market. Anti-inflammatory and analgesic medications, anti-infectives, and bio thermo microchips are essential components of equine healthcare.

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends. And provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights. To identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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