Equine Healthcare Global Market Report 2024

The equine healthcare market size has grown strongly in recent years. It will grow from $1.34 billion in 2023 to $1.42 billion in 2024 at a compound annual growth rate (CAGR) of 6.3%. The growth observed in the historical period can be attributed to factors such as the aging population of equines, the adoption of preventive healthcare practices, the popularity of equestrian sports and activities, increased awareness among owners, and efforts related to disease outbreaks and control.

The equine healthcare market size is expected to see strong growth in the next few years. It will grow to $1.81 billion in 2028 at a compound annual growth rate (CAGR) of 6.2%. The anticipated growth in the forecast period can be attributed to factors such as the adoption of genetic testing and personalized medicine in equines, the implementation of equine wellness programs, the globalization of equine events, preparedness for zoonotic diseases, and compliance with anti-doping regulations. Major trends expected in the forecast period include the utilization of telemedicine and remote monitoring solutions, the integration of wearable technologies for horses, advancements in equine rehabilitation and physical therapy, an increased focus on equine dental care and dentistry services, and the incorporation of herbal and alternative therapies.

The equine healthcare market is expected to experience growth during the forecast period, driven by the increasing awareness of animal healthcare. There is a growing recognition of the significance of animals in the ecosystem, emphasizing that animal health is crucial not only for the safety and well-being of the animals themselves but also for humans. The transfer of diseases from animals to humans underscores the importance of investing in animal healthcare infrastructure. Consequently, both government and private institutions are allocating resources to develop such infrastructure in various countries. For example, in September 2021, the US Department of Agriculture announced a substantial investment of $3 billion in animal health and nutrition. As a result, the rising awareness among the human population regarding the importance of animal healthcare, coupled with increased investments, is expected to bolster market growth during the forecast period.

The equine healthcare market is expected to see an upswing in growth due to the increasing occurrences of zoonotic diseases. These infectious diseases, caused by pathogens such as viruses, bacteria, parasites, or fungi, have the potential to be transmitted between animals and humans. The expansion of the equine healthcare market is attributed to the heightened incidences of zoonotic diseases, prompting horse owners to prioritize preventive measures and healthcare for their animals. This trend is fueled by a heightened awareness of the risks associated with zoonotic transmission and the growing adoption of veterinary products and services. For instance, a report by the European Centre for Disease Prevention and Control, a government agency based in Sweden, revealed in December 2022 that Campylobacteriosis remains the most prevalent zoonosis, with reported cases rising to 127,840 in 2022. Chicken and turkey meat were identified as the primary sources of reported campylobacteriosis cases. Salmonella, the second-most common zoonosis, affected 60,050 individuals. Subsequent to Campylobacteriosis and Salmonellosis, Yersiniosis (6,789 cases), Shigatoxin-producing E. coli infections (6,084 cases), and Listeriosis (2,183 cases) were the most frequently reported zoonotic diseases. Consequently, the growth of the equine healthcare market is driven by the increasing incidences of zoonotic diseases.

A significant trend in the equine healthcare market is the introduction of new and effective products by key manufacturers aimed at facilitating the rapid detection of diseases in the equine population and ensuring improved therapeutic outcomes. An illustrative example of this trend is evident in the actions of Epona Biotec, a veterinary startup committed to advancing equine healthcare. In June 2021, the company launched the VetTrue System, a remote temperature-monitoring system designed specifically for horses. Developed by a collaborative team of veterinary experts, equestrian professionals, and technology specialists, the VetTrue System serves as a more accurate and less invasive health-monitoring solution for veterinarians, horse owners, and individuals in the equestrian industries. The system utilizes a single-use TailTab temperature sensor securely attached beneath the horse's tail. This sensor continuously monitors the horse's temperature and transmits the data to the VetTrue App via Bluetooth.

Prominent companies in the equine healthcare market are actively engaged in the development of innovative products, including protein-based vaccines, to expand their customer bases, boost sales, and increase revenue. Protein-based vaccines typically involve utilizing specific proteins or antigens from the target pathogen to stimulate an immune response, avoiding the use of the live or killed form of the pathogen itself. An exemplary instance of this trend is seen in the actions of Dechra Pharmaceuticals PLC, a pharmaceutical company based in the UK. In August 2022, the company introduced the Strangvac vaccine tailored for horses and ponies. Strangvac is the only intramuscular vaccine designed to provide protection against strangles, a disease caused by the bacterium Streptococcus equi. Noteworthy for its composition, Strangvac incorporates recombinant proteins CCE, Eq85, and IdeE derived from Streptococcus equi. It features a Differentiating Infected from Vaccinated Animals (DIVA) capability. A distinct aspect of this vaccine is its formulation without live bacteria or bacterial DNA, ensuring that it does not yield positive results in culture or PCR tests. This unique feature enhances the vaccine's efficacy and safety in preventing strangles in horses.

In October 2021, IVC Evidensia, a veterinary care provider based in the UK, completed the acquisition of VetOne Group for an undisclosed sum. This strategic move enabled IVC Evidensia to extend its veterinary care services throughout France, encompassing a total of 155 veterinary clinics and hospitals. VetOne Group, based in France, is recognized as a provider of high-quality veterinary resources within the animal health industry.

Major companies operating in the equine healthcare market report are Merck & Co. Inc., Bayer AG, Sanofi S.A., Boehringer Ingelheim, Zoetis Inc., Patterson Companies Inc., Elanco, Idexx Laboratories Inc., Covetrus, Ceva Sante Animale, Virbac, Hilltop BioSciences Inc., Dechra Pharmaceuticals PLC, CVS Group PLC, Vetoquinol, Greencross Limited, ESAOTE SPA, Purina Animal Nutrition LLC, National Veterinary Care Ltd, Applied Biologics, SOUND, Hallmarq Veterinary Imaging, Ethos Veterinary Health LLC, Jaguar Animal Health, Addison Biological Laboratory Inc., Animart LLC, Prisma Imaging, Bimini LLC, BioPredic International, Epona Biotec, Equine Therapy Solutions.

North America was the largest region in the equine healthcare market in 2023. The regions covered in the equine healthcare market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the equine healthcare market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Equine healthcare primarily comprises drugs, vaccines, and medical feed additives as its main product types. Drugs, which are pharmacologically active substances, are administered to horses in the event of various diseases such as equine influenza, equine herpes virus, equine encephalomyelitis, West Nile virus, equine rabies, Potomac horse fever, and tetanus. These products are distributed through veterinary hospitals and clinics, retail pharmacies, and online pharmacies.

The equine healthcare market research report is one of a series of new reports that provides equine healthcare market statistics, including equine healthcare industry global market size, regional shares, competitors with an equine healthcare market share, detailed equine healthcare market segments, market trends and opportunities, and any further data you may need to thrive in the equine healthcare industry. This equine healthcare market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The equine healthcare market includes revenues earned by entities by taking care of a horse for vaccinations, parasite control, and dental care. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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