The global equine healthcare market is likely to expand at a 4.2% CAGR in the forecast period 2017–2025, according to a new study by Transparency Market Research. Further, the market research report on equine healthcare highlights that the market is expected to gain the valuation of US$ 862.7 Mn by 2025 end. Some of the key factors driving market expansion include increased trend of horseracing and noteworthy growth in spending toward activities pertaining to equine care across the major parts of the globe.
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Growing Awareness about Common Equine Diseases Brings Opportunities for Sales of Equine Healthcare Products
A significant growth in awareness regarding the common diseases impacting overall equines performance is observed across major parts of the globe over the period of past few years. This factor has helped in the diagnosis and prevention of many diseases in equines, and thereby bringing sizable demand opportunities for companies engaged in the global market for equine healthcare. Vaccines, drugs, and supplemental feed additives are some of the product types available in the market for equines healthcare.
Increased Need for Efficient Anti-Infective Drugs Due to growing Number of Infections Creates Massive Sales Opportunities in Equine Healthcare Market
The cases of various equines infections have increased in the period of past few years. This scenario has resulted into increased need for efficient anti-infective drugs. This scenario is projected to create massive sales opportunities for the companies engaged in the equine healthcare market during the forecast period of 2017 to 2025. Besides, a noteworthy growth in demand for pet insurance across many countries across the globe is foreseen to help in the market growth in the years to come.
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Players Focus on Strategizing Business Moves to Expand Their Market Presence
The nature of equine healthcare market seems to be fragmented. With existence of several well-established enterprises, the market for equine healthcare experiences high level of competitive landscape. Thus to gain leading position in the market, the companies are focused on implementing different business tactics. Many enterprises are using partnership and collaborations agreements as their key strategies to expand their regional presence. These factors are foreseen to help in the expansion of the equine healthcare market in the years to come.
Ceva Santé Animale, Equine Products (UK) Ltd., Sanofi, Eli Lilly and Company, and Vetoquinol S.A., are some of the major key players in the global equine healthcare market.
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North America and Europe: Lucrative Regions Fueling Market Growth
In terms of region, the global equine healthcare market shows presence in many geographical regions including Latin America, Asia Pacific, North America, the Middle East and Africa, and Europe. Of them, North America and Europe are considered leading market growth regions. According to the market analysis of equine healthcare, these regions are expected to show promising growth opportunities during the forecast period of 2017 to 2025.There are several factors that many boost market growth, such as growing equines adoption rate per household, growth in expenditure towards equine care activities, and sturdy business operations of many well-entrenched companies in the region.
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The Global Equine Healthcare Market Segmentation
The market survey of equine healthcare is presented in the form of different segments. Product type, disease type, distribution channel, and region are some of the crucial factors based on the study analysts have performed the market segmentation. Based on product type, the market for equine healthcare is classified into equine herpes virus, equine influenza, west Nile virus, equine encephalomyelitis, Potomac horse fever, tetanus, and equine rabies. In terms of distribution channel, the market is bifurcated into two key parts, namely, veterinary hospitals and clinics and retail pharmacies and drug stores.
The study presented here is based on a report by Transparency Market Research (TMR) titled “Equine Healthcare Market (Product Type - Drugs (Anti-Infectives, Anti-Inflammatory, and Parasiticides), Vaccines (Inactivated, Live Attenuated, and Recombinant), Supplemental Feed Additives (Minerals, Vitamins, Proteins and Amino Acids, and Enzymes); Disease Type - West Nile Virus, Equine Rabies, Potomac Horse Fever, Tetanus, Equine Influenza, Equine Herpes Virus, and Equine Encephalomyelitis; Distribution Channel - Veterinary Hospitals and Clinics, Retail Pharmacies, and Drugs Stores) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2025.”
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