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• Rise in the prevalence of equine infections globally is anticipated to fuel sales growth in the market
• Rising investments of players for the development of next-gen devices including wearable devices for horses is expected drive the market growth

WILMINGTON, Del., Oct. 5, 2022 /PRNewswire/ -- The global equine healthcare market is prognosticated to reach a value of US$ 972.8 Mn by the end of 2028, as per the research report by Transparency Market Research (TMR). This aside, the global equine healthcare market analysis by TMR finds that the market is expected to expand at a CAGR of 4.3% during the forecast period, 2021-2028.

Leading companies operating in the equine healthcare market are using different strategies such as mergers, acquisition, and collaborations in order to stay ahead of the competition. This aside, key equine healthcare market manufacturers are focusing on the development of next-gen products, new product launches, and regulatory approvals in order to gain major market share. Such factors are anticipated to fuel the expansion of the global market, state a TMR analysis that covers in-depth insights on the marketing strategy for equine healthcare.

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Equine Healthcare Market: Key Findings

• Horse breeding is considered a principal activity in the equine industry. Thus, improved healthcare management of breeds and choice of breeding stock are important factors in order to advance the breeding operations, states a TMR report on the equine healthcare market. Over the period of past few years, there has been a surge in the prevalence of equine infections across the globe, note analysts at TMR. Moreover, the cases of Potomac horse fever are being rising across South America and the Caribbean. These factors are expected to help in the expansion of the global equine healthcare market size during the forecast period.
• The prevalence of diseases due to west Nile virus infection is being controlled among horses in the recent years. However, the sudden emergence of this virus can lead to concerns for horse owners, state TMR analysts. This aside, the cases of equine influenza and tetanus are being increasing among horses globally. Thus, increase in the prevalence of equine infections is prognosticated to fuel the equine healthcare market in the forthcoming years, according to a study by TMR.
• Companies in the equine healthcare market are investing in R&Ds that are focused on the development of equestrian sports technologies including wearables intended for horses. Moreover, the need for validated approaches of regularly tracking healthcare parameters such as the heart rate, respiratory rates, and temperature is being rising in the recent years. Hence, the demand for wearable devices is anticipated to surge in the forthcoming years as the data collected by such devices can help in providing early indications of health issues, which may need veterinary investigation. Such factors are likely to drive the growth opportunities in the global equine healthcare market during the forecast period, note analysts at TMR.

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Equine Healthcare Market: Growth Boosters

• The equine healthcare market is projected to gain sizable growth prospects during the forecast period owing to sturdy impact of the equine industry on the global economy
• Rise in the adoption of wearable devices in order to gain understanding on health issues in horses is expected to play important role in the market growth

Equine Healthcare Market: Key Players

Some of the key players profiled in the report are:

• Boehringer Ingelheim
• Bayer AG (Bayer Animal healthcare)
• Eli Lilly and Company (Elanco)
• Ceva Santé Animale
• Merck & Co. (Merck Animal healthcare)
• Equine Products UK Ltd.
• Purina Animal Nutrition LLC.
• Sanofi (Merial)
• Zoetis
• Vetoquinol S.A.

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Equine Healthcare Market Segmentation

• Products Type
• Drugs
• Anti-infectives
• Anti-inflammatory
• Parasiticides
• Others
• Vaccine
• Inactivated
• Live Attenuated
• Recombinant
• Others
• Supplemental Feed additives
• Proteins & Amino Acids
• Vitamins
• Enzymes
• Minerals
• Others
• Distribution Channel
• Veterinary Hospitals & Clinics
• Pharmacies & Drug Stores
• Others
• Disease Type
• Equine Influenza
• Rhinopneumonitis/Equine Herpes Virus (EHV)
• Equine Encephalomyelitis (sleeping sickness)
• Equine Infectious Anemia (EIA)
• West Nile Virus
• Equine Rabies
• Potomac Horse Fever
• Tetanus (Lockjaw)
• Others

Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

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SOURCE Transparency Market Research