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The equine healthcare market has seen significant growth in recent years, driven by various factors such as an aging equine population, increased awareness among horse owners, and advancements in preventive healthcare practices. This blog explores the market’s recent expansion, future projections, key trends, and the impact of growing awareness on market growth.

Recent Market Growth
Market Size and Growth Rate

• 2023 Market Size: $1.34 billion
• 2024 Market Size: $1.42 billion
• CAGR (2023-2024): 6.3%

Historical Growth Drivers

• Aging equine population
• Preventive healthcare practices
• Equestrian sports and activities
• Rising awareness among horse owners
• Disease outbreaks and control measures

Future Market Prospects
Projected Growth

• 2028 Market Size: $1.81 billion
• CAGR (2024-2028): 6.2%

Future Growth Drivers

• Genetic testing and personalized medicine
• Equine wellness programs
• Globalization of equine events
• Preparedness for zoonotic diseases
• Compliance with anti-doping regulations

Read More On The Equine Healthcare Market Report 2024 – https://www.thebusinessresearchcompany.com/report/equine-healthcare-global-market-report

Major Trends Shaping the Future
Telemedicine and Remote Monitoring Solutions

• Increasing adoption of telemedicine for remote consultations
• Remote monitoring systems for real-time health tracking

Wearable Technologies for Horses

• Development of smart collars and sensors
• Enhanced health and activity monitoring

Equine Rehabilitation and Physical Therapy

• Growth in rehabilitation centers and services
• Advanced therapies for injury recovery and performance enhancement

Equine Dental Care and Dentistry Services

• Rising demand for specialized dental care
• Innovations in equine dental equipment and procedures

Herbal and Alternative Therapies

• Increasing use of natural and holistic treatments
• Popularity of herbal supplements and remedies

Growing Awareness and Investments Propel the Market
Impact of Growing Awareness

• Increased understanding of animal health importance
• Recognition of animal health’s role in human health

Government and Private Investments

• Significant funding for animal health infrastructure
• Example: In September 2021, the US Department of Agriculture invested $3 billion in animal health and nutrition

Key Players in the Equine Healthcare Market

• Merck & Co. Inc.
• Bayer AG
• Sanofi S.A.
• Boehringer Ingelheim
• Zoetis Inc.
• Patterson Companies Inc.
• Elanco
• Idexx Laboratories Inc.
• Covetrus
• Vetoquinol
• Greencross Limited
• ESAOTE SPA
• Purina Animal Nutrition LLC
• National Veterinary Care Ltd.
• Applied Biologics

Advancements in Equine Healthcare
Remote Temperature Monitoring Systems

• Example: Epona Biotec’s VetTrue System
• Features a TailTab temperature sensor and VetTrue App for continuous, non-invasive monitoring

Strategic Acquisitions

• Example: IVC Evidensia’s acquisition of VetOne Group
• Expansion of veterinary care services across France

Market Segmentation

By Product Type

• Drugs
• Vaccines
• Medical Feed Additives

By Disease

• Equine Influenza
• Equine Herpes Virus
• Equine Encephalomyelitis
• West Nile Virus
• Equine Rabies
• Potomac Horse Fever
• Tetanus

By Distribution Channel

• Veterinary Hospitals and Clinics
• Retail Pharmacies
• Online Pharmacies

Regional Insights

• North America: Largest region in the equine healthcare market in 2023

Conclusion
The equine healthcare market is experiencing robust growth, driven by advancements in genetic testing, telemedicine, and wearable technologies. Increased awareness and significant investments in animal health infrastructure are further propelling the market. As the industry continues to evolve, the future looks promising with innovative solutions and expanding applications enhancing the overall health and well-being of horses globally.

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