DUBLIN, Feb. 12, 2019 /PRNewswire/ --
The "Global Equine Healthcare Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2018 To 2026" report has been added to ResearchAndMarkets.com's offering.
The global equine healthcare market was valued at US$ 626.2 Mn in 2017 expanding at a CAGR of 4.0% from 2018 to 2026.
Horses are considered sports animals, companion animals, and working animals and provide employment and income in many developed and developing countries. According to Equine Business Association (EBA), the U.S. and U.K are the biggest equine industries in the world. There are more than 446,000 horse-owning households in the U.K. itself. Moreover, in China horse clubs has increased around 1500% in recent years from 90 in 2010 to 1400 in 2017.
Thus, this growth in the horse racing and equine shows and leisure events have skyrocketed the demand for equine healthcare market and projected to grow during the forecast period. Presence of major pharmaceutical players in the market such as Boehringer Ingelheim, Bayer AG, Merck & Co., Zoetis has made the market highly competitive by continuous innovation in the products. Moreover, growing demand for equine insurance in the developed countries will further drive the market.
However, legislation on horse racing will hinder the market during the forecast period. In terms of disease type, the market is segmented into West Nile Virus, Potomac horse fever, equine rabies, tetanus, equine influenza, and equine herpes virus. Tetanus and West Nile Virus are some of the most prevalent diseases and expected to account for high market share in the market. Growing incidences of equine influenza, equine herpesvirus, and rabies during the forecast period will further provide market growth.
In terms of geography, North America held the largest share in the global equine healthcare market. Increasing popularity for horse racing, high equine adoption rate in the household and substantial spending on animal healthcare are the major growth factors. Around 7 million Americans are directly involved in the equine industry and more than 2 million are horse owners. Europe emerged as the second largest equine healthcare market due to mounting demand for equine healthcare products in the region. The Asia Pacific is projected to grow at the fastest growth rate during the forecast period.
The growing focus of animal care in the region, rising affordability and awareness of equine healthcare products in countries such as China, India, and Australia would boost the market. The key players currently engaged in equine healthcare market include Zoetis, Bayer AG, Boehringer Ingelheim (Merial), Vetoquinol S.A., Purina Animal Nutrition LLC, Merck & Co. (Merck Animal Health) among others. In January 2017, Boehringer Ingelheim and Sanofi exchanged Boehringer Ingelheim's consumer healthcare (CHC) business and Sanofi's animal health business (Merial) with each other to gain market dominance in respective fields.
Key Market Movements:
- The growing popularity of horse racing in developed and developing regions
- Growing awareness and affordability of equine healthcare products
- Strict regulations associated with horse racing and horse breeding activities
- The dominance of North America and Europe in an equine healthcare market
Key Topics Covered:
Chapter 1. Preface
Chapter 2. Executive Summary
2.1. Global Equine Healthcare Market Portraiture
2.2. Global Equine Healthcare Market, by Product Type, 2017 (US$ Mn)
2.3. Global Equine Healthcare Market, by Disease Type, 2017 (US$ Mn)
2.4. Global Equine Healthcare Market, by Geography, 2017 (US$ Mn)
Chapter 3. Equine Healthcare: Market Dynamics and Outlook
3.1. Market Overview
3.5. Attractive Investment Proposition, by Geography, 2017
3.6. Competitive Analysis: Global Equine Healthcare Market, by Key Players, 2017
Chapter 4. Global Equine Healthcare Market, by Product Type, 2016-2026 (US$ Mn)
4.2. Drug Type
4.3. Vaccine Type
4.3.2. Live Attenuated
4.4. Supplements and Additives
Chapter 5. Global Equine Healthcare Market, by Disease Type, 2016 - 2026 (US$ Mn)
5.2. West Nile Virus
5.3. Equine Rabies
5.4. Potomac Horse Fever
5.6. Equine Influenza
5.7. Equine Herpes Virus
Chapter 6. Global Equine Healthcare Market, by Geography, 2016 - 2026 (US$ Mn)
Chapter 7. Company Profiles
7.1. Bayer AG (Bayer Animal Health)
7.1.1. Business Description
7.1.2. Financial Information (Subject to Data Availability)
7.1.3. Product Portfolio
7.1.4. News Coverage
7.2. Boehringer Ingelheim
7.3. Ceva Sante Animale
7.4. Eli Lilly and Company
7.5. Equine Products U.K. Ltd.
7.6. Merck & Co. (Merck Animal Health)
7.7. Purina Animal Nutrition LLC
7.8. Vetoquinol S.A.
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