The equine healthcare market size is estimated to be USD 2,589.1 million in 2022 and is expected to witness a CAGR of 6.71% during the forecast period 2023-2033. Growing equine disease incidence, market stakeholder activities, spending in the horse racing and sports business, and increasing demand for equine healthcare are factors contributing to the market growth. Additionally, presence of large veterinary hospitals and the accessibility of horse diagnostic and therapeutic products and growing public awareness of the importance of animal healthcare is expected to propel the market growth. However, decreasing equine population is expected to hinder the growth.

Presence of large veterinary hospitals and the accessibility of horse diagnostic and therapeutic products is expected to fuel the market growth. For instance, the University of Liverpool’s Philip Leverhulme Equine Hospital in North West England advanced radiography that creates 3D images of bone and soft tissue. Since it is the only sliding rack system of medical-grade and wide diameter available for large animal patients in England, the new CT system is exceptional.

Growing public awareness of the importance of animal healthcare is predicted to spur the market growth. As individuals are more conscious of the value of animals in the ecosystem, maintaining animal health is essential for both the safety and well-being of both animals and humans. Considering that diseases can be easily transmitted from animals to humans, governments and commercial enterprises are investing in the development of the infrastructure for animal healthcare in many different countries. For instance, the US Department of Agriculture spent $3 billion on animal nutrition and health in September 2021.

Segmentation

By Product

The market is categorized into pharmaceuticals, diagnostics, vaccine, software & services, medicinal feed activities, others. In the global market, the pharmaceuticals segment accounted for the largest revenue share in 2022 owing to the fact that various pharmaceuticals for horses, including analgesics, anti-infectives, anti-inflammatory drugs, and parasiticides, used to cure reproductive, metabolic, infectious, and dermatological conditions in horses. The market for both prescription and over-the-counter drugs has expanded as a result of rising costs for equestrians’ and horses’ general health. The actions made by market participants are to responsible for this. For instance, Zoetis provides a wide selection of drugs, including equine parasiticides as QUEST gel, Equest Pramox, Deosect 5% Spray Solution, etc.  The others segment is anticipated to witness significant growth. The segment includes stem cell therapy, horse regenerative therapies, and others. R&D in horse medicine is anticipated to increase, driving the market’s growth. In order to treat injuries in horses that could result in lameness, Zoetis introduced a number of products in June 2021, including the Pro-Stride APS, CenTrate

By Indication

The market is divided into parasite control, equine herpes virus, tetanus, musculoskeletal disorders, equine influenza, internal medicine, west nile virus, equine encephalomyelitis, and others. In 2022, the parasite control segment accounted for the highest revenue share due to fact that they treat diseases carried on by amoebas, helminths, protozoa, and parasitic fungus.Sprays, collars, oral solutions, gels, and spot-on treatments are few of the different ways that parasiticides, which include both ectoparasiticides (for external parasites) and endoparasiticides (for internal parasites), can be administered. They can also be administered intravenously, topically, or orally. The equine influenza segment is anticipated to witness fastest growth over the projection period due to rising incidence of infectious diseases in horses. Over 12,000 cases of horse influenza were reported globally between 2017 and 2021, according to the OIE.The need for equine healthcare is developing as a result of mounting pressure to keep horses healthy and maintain their performance at maximum level and rising understanding of preventative measures against equine diseases.

 By Application

The market is segregated into recreation, sports/racing, and others. In the global market, the  sports/racing segment accounted for the largest revenue share in 2022 owing to booming equine sports and racing industry in key market such as the United Kingdom, the United States, France, the Netherlands, China, and Australia. About 8 disciplines in both normal and para-equestrian competition are recognised by the Fédération Équestre Internationale, an organisation that regulates equestrian sports internationally. Governmental programmes and efforts by players in the public and private sectors are also helping the industry expand. Through the Dubai Equestrian Procurement Forum, the Chairman of the Dubai Equestrian Club and Dubai Racing Club announced new initiatives in October 2021 to reinforce Dubai’s position as a regional centre for the horse racing sector. As the equine industry recovers, the form highlighted new prospects for sector participants as manufacturers, technology providers, and suppliers.

 By Distribution Channel

The market is segmented into e-commerce, veterinary hospitals & clinics, and others. In 2022, the veterinary hospitals & clinics segment accounted for the largest revenue share owing to large number of patients that these clinics treat each year. The expansion of veterinary hospitals, clinics, and doctors in key market is another factor driving the industry. For instance, a report from the American Veterinary Medical Association estimates that there were 121,461 veterinarians in the US in 2021, rise from 118,624 in 2020. In addition, there were 75,349 private clinical practises in 2020 compared to 73,373 in 2019. These factors will probably encourage market expansion. In the near future, the segment is anticipated to grow at the greatest CAGR. E-commerce has advantages, such as the ability to shop conveniently from home and a wide range of choices. For instance, the e-commerce site Chewy, Inc. offers a variety of products and services for horses, such as dewormers, parasiticides, antibiotics, vitamins, and electrolytes.

Regional Markets

In 2022, North America region accounted for the highest revenue in the equine healthcare market and is expected to maintain its dominance during the forecast period. This is attributed to the number of horse farms and the frequency of horse races. Approximately 33,567 horse races are held at the about 300 racetracks in the United States each year. According to the FAO, there were around 10.56 million horses in the United States in 2021 and approximately 10.96 million horses in the entire region of North America. Additionally, the number of horses imported into the U.S. is expected to total 18,865 in 2021, which would increase the need for equine healthcare in North America. The APAC region is anticipated to exhibit the fastest growth during the projection period. Some of the drivers driving the market include a rise in the demand for horse medicinal feeds, growth in the prevalence of equine diseases, and surge in government initiatives to promote equine health. Additionally, it is projected that the expansion of market participants operating in the market for equine products will affect growth over the projection period.

Competitor Insights

Some of the key players operating in the equine healthcare market are Hallmarq Veterinary Imaging, MERCK & CO., INC., Zoetis, Vetoquinol S.A., Ceva, IDEXX Laboratories, Inc., ESAOTE SPA, Boehringer Ingelheim International GmbH, SOUND, and Dechra Pharmaceuticals PLC.

To achieve a competitive edge, these companies are implementing a variety of growth strategies. Strategic partnerships, alliances, and agreements with different businesses and research institutions are seen to be the main strategies used by companies in this sector.

• For instance, Boehringer Ingelheim International GmbH introduced renuTend, a novel stem cell therapy, in April 2022 to help horses with tendon and suspensory ligament injuries heal rapidly. In addition, Zoetis purchased NewMetrica in September 2022. Introducing instruments for improving the health and quality of life of companion animals will help the company’s range of companion animal products grow.

This comprehensive research report focuses on the global and regional market size and forecasts of diverse segments including product, indication, activity, and distribution channel from 2023 to 2033.

Report Scope:

Segmentation: Equine Healthcare Market Report 2022 – 2033

Product (Revenue, USD Million), 2022 – 2033

• Pharmaceuticals
• Diagnostics
• Vaccine
• Software & Services
• Medicinal Feed Activities
• Others

Indication (Revenue, USD Million), 2022 – 2033

• Parasite Control
• Equine Herpes Virus
• Tetanus
• Musculoskeletal Disorders
• Equine Influenza
• Internal Medicine
• West Nile Virus
• Equine Encephalomyelitis
• Others

Activity (Revenue, USD Million), 2022 – 2033

• Recreation
• Sports/Racing
• Others

Distribution Channel (Revenue, USD Million), 2022 – 2033

• E-commerce
• Veterinary Hospitals & Clinics
• Others

By Region (Revenue, USD Million), 2022 – 2033

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • France
  • UK
  • Spain
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Rest of APAC
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Rest of LATAM
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • Rest of MEA