Equine Healthcare Market 2023–2027: Growth Forecast and Essential Insights

The Equine Healthcare Market is forecasted to expand by USD 513.83 million, with a compound annual growth rate (CAGR) of 6.37% from 2022 to 2027. This expansion is propelled by factors such as the rising prevalence of zoonotic diseases, heightened awareness of preventive care, and the rapid integration of information systems in veterinary healthcare.

For more detailed insights: Download Equine Healthcare Market Sample PDF.

Anticipated Growth Trends

The equine healthcare market is set for considerable growth over the forecast period, driven by the increasing incidence of zoonotic diseases and greater awareness of disease prevention among stakeholders. The swift adoption of information technology in veterinary practices is another key growth driver.

Overcoming Market Hurdles

Despite positive growth projections, the market faces several challenges. These include the high cost of equine healthcare, a lack of specialized services, and stringent regulatory requirements. Addressing these challenges is crucial for sustainable growth and improved healthcare outcomes for horses.

Product Segmentation

The market is divided into pharmaceuticals, vaccines, and other healthcare products. The pharmaceuticals segment is anticipated to lead the market due to the demand for specialized medications for equine health.

Pharmaceuticals Overview

This segment encompasses a range of medications and treatments designed specifically for horses. Valued at USD 609.63 million in 2017, it has demonstrated consistent growth.

 Key products include antiparasitic drugs, respiratory treatments, and wound care medications. Vaccines are vital for preventive care, protecting horses from diseases such as equine influenza, tetanus, and West Nile virus.

Distribution Channels

The market is also categorized by distribution channels into offline and online sales. Both channels are essential in ensuring the availability of equine healthcare products to veterinarians and horse owners.

North America’s Market Impact

North America is expected to contribute 37% to the global market growth during the forecast period. The presence of leading equine healthcare companies and government initiatives to improve animal health are significant drivers in this region. Innovations in veterinary services and the integration of software solutions further enhance market growth.

Rising Prevalence of Zoonotic Diseases

Zoonotic diseases, which are transmitted from animals to humans, are a major driver of the equine healthcare market. Diseases like the Hendra virus underscore the need for comprehensive equine health programs to prevent the spread of infections and safeguard both animal and human populations.

Technological Innovations and Preventive Care

The adoption of new technologies and a focus on preventive care are significant trends influencing the market. Regular wellness practices, such as vaccinations, deworming, and nutritional management, are crucial for maintaining horse health and preventing disease outbreaks. These proactive measures are increasingly recognized for their role in promoting long-term health and performance in horses.

For more detailed insights: Download Equine Healthcare Market Sample PDF.

Conclusion

The Equine Healthcare Market is poised for substantial growth from 2023 to 2027, driven by the rising incidence of zoonotic diseases and advancements in preventive care and technology. However, overcoming challenges such as high costs, regulatory hurdles, and a shortage of skilled professionals is essential for sustainable growth and improved healthcare outcomes for horses.

Contact us for tailored solution

Technavio Research

Jesse Maida

Media & Marketing Executive

US: +1 844 364 1100

UK: +44 203 893 3200

Email: media@technavio.com

Website: www.technavio.com/



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