1 Global Equine Healthcare Market Insight Analysis
The global equine healthcare market is valued at USD 961.69 million in 2024, with a CAGR of 5.06% from 2024 to 2033.
Equine healthcare is the specialized branch of veterinary medicine focused on maintaining and improving the health and well-being of horses. It encompasses a wide range of services and products, including veterinary diagnostics, surgical procedures, routine check-ups, medications, and vaccines. These services are essential for addressing the unique health needs of horses used in racing, sports, leisure, and agriculture. Regular veterinary care, preventive treatments, and advanced medical interventions are all critical components of equine healthcare, aiming to ensure that horses remain healthy, perform optimally, and enjoy a high quality of life.
Figure Global Equine Healthcare Market Size (M USD) and CAGR (2024-2033)
2 Equine Healthcare Market Growth Drivers and Restraints
Growing demand for disease prevention and treatment: Horses are susceptible to a variety of diseases, such as tetanus, equine encephalomyelitis, rabies, equine influenza, and West Nile virus. To protect the health of horses, the demand for therapeutic drugs and vaccines continues to increase. Taking 2020 as an example, the pharmaceutical segment accounted for the largest share of the global equine healthcare market, fully demonstrating the strong driving effect of drug demand for the treatment of various diseases on the market.
Market development in specific regions: In the Asia-Pacific region, Australia, as a major horse breeding country, has driven a significant increase in demand for equine health products in the region. At the same time, China’s continuous increase in investment in specific supplements, treatments, and protection products has promoted the development of horse breeds, thereby promoting the growth of the Asia-Pacific equine healthcare market.
In North America, the adoption rate of horses has increased significantly, people’s awareness of disease prevention strategies has continued to increase, horse riding has become increasingly popular among young people, and the popularity of competitive horse racing and performances has enabled the region to occupy a large share of the global equine healthcare market and become an important driver of market growth.
Driven by veterinary hospitals and clinics: In recent years, the global demand for equine nutritional supplements, especially minerals and vitamins, has surged. Veterinary hospitals and clinics actively participate in the sales of health products, which strongly stimulates the supply of vaccines and medicines. In addition, the increasingly important role of veterinarians in health care decision-making has promoted the application of more high-safety and high-efficiency drugs, bringing new opportunities for market development.
Cost and knowledge issues: The high cost of equine health care and the lack of knowledge of equine health care in some regions have hindered the growth of the market to a certain extent. In some underdeveloped regions, due to the lack of qualified veterinarians, high care costs and insufficient veterinary services, the market share in these regions is relatively small.
R&D challenges: The research and development of equine health care products requires a large amount of capital investment and a long R&D cycle. This places high demands on the financial strength of enterprises. Enterprises with insufficient funds find it difficult to maintain long-term and stable R&D investment, which puts them at a disadvantage in market competition and affects the overall development of the market.
Regulatory and safety issues: The laboratory stage of equine health care products involves dangerous goods and toxic products. According to relevant regulations, units engaged in such experimental activities must obtain approval documents for experimental activities and conduct tests in laboratories with relevant qualifications. These strict regulatory requirements increase the operating costs and management difficulties of enterprises, and have also become one of the limiting factors for market development.
3 Technological Innovations in the Equine Healthcare Market
Product innovation: Many companies have actively invested in research and development and launched a series of innovative products. Zoetis’s CORE EQ Innovator™ vaccine is the first and only product that integrates all core equine disease antigens in one vaccine; Virbac S.A.’s STRATEGY-T® unique broad-spectrum anthelmintic can effectively treat and control a variety of common equine parasites, including strains that are resistant to certain drugs. These innovative products meet the market’s demand for efficient and safe equine health care products.
Technology application innovation: With the continuous advancement of science and technology, the field of equine health care has also been constantly innovating in technology applications. For example, in diagnostic technology, more accurate and rapid detection methods continue to emerge, which helps to detect equine diseases in a timely manner and improve treatment effects; in drug research and development technology, research on drug ingredients and formulations continues to deepen to improve the efficacy and safety of drugs.
4 Global Equine Healthcare Market Size by Type
The drugs segment is anticipated to be the largest in terms of market value in 2024, with an estimated revenue of 423.79 million USD. This segment includes a wide range of pharmaceutical products designed to treat various health conditions in horses. These drugs are essential for managing infections, inflammation, and other medical issues that can affect equine health. The drugs segment is expected to hold approximately 44.07% of the total market share in 2024. This high market share is driven by the continuous demand for effective treatments to address the frequent health challenges faced by horses, such as colic, respiratory infections, and musculoskeletal disorders.
The vaccines segment is another significant contributor to the global Equine Healthcare Market, with an estimated value of 442.27 million USD in 2024. Vaccines play a crucial role in preventing infectious diseases that can be particularly devastating to horse populations. Key vaccines include those for equine influenza, tetanus, equine encephalomyelitis, and West Nile virus. The vaccines segment is projected to hold about 45.99% of the total market share in 2024. The importance of vaccines in maintaining herd health and preventing outbreaks of infectious diseases drives their high market value and share. The growing awareness among horse owners and veterinarians about the necessity of regular vaccinations further supports the demand for this segment.
The supplemental feed additives segment is expected to have a market value of 95.63 million USD in 2024. These products are designed to enhance the nutritional intake of horses, supporting their overall health and performance. Common feed additives include vitamins, minerals, probiotics, and other nutritional supplements that help in maintaining optimal health, improving digestion, and boosting immunity. The supplemental feed additives segment is projected to hold approximately 9.94% of the total market share in 2024. While this segment is smaller compared to drugs and vaccines, it is growing in importance as horse owners become more aware of the benefits of nutritional support for their animals.
Table Global Equine Healthcare Market Size and Share by Type in 2024
Type | Market Size (M USD) 2024 | Market Share 2024 |
|---|---|---|
Drugs | 423.79 | 44.07% |
Vaccine | 442.27 | 45.99% |
Supplemental Feed Additives | 95.63 | 9.94% |
5 Global Equine Healthcare Market Size by Application
Veterinary hospitals and clinics play a dominant role in the market. According to the data, the revenue of veterinary hospitals and clinics in 2024 is expected to reach $610.76 million. This significant figure reflects their essential function in the equine healthcare industry. They are not only responsible for the diagnosis and treatment of horse diseases but also serve as a major distribution channel for equine healthcare products. Their market share in 2024 is approximately 63.51%. This high share is attributed to the professional services they provide, such as surgical procedures, vaccinations, and disease management. Horse owners often rely on veterinary hospitals and clinics for comprehensive healthcare solutions, which drives the high revenue and market share.
Retail pharmacies and drug stores also contribute substantially to the market. In 2024, their revenue is projected to be $320.75 million, with a market share of around 33.35%. These outlets offer a convenient option for horse owners to purchase over – the – counter equine healthcare products, including medications, supplements, and basic medical supplies. The growth of this segment is influenced by factors like the increasing availability of equine – specific products in retail settings and the convenience they offer to customers. However, compared to veterinary hospitals and clinics, their role in providing professional medical services is limited, which affects their market share.
Table Global Equine Healthcare Market Size and Share by Application in 2024
Application | Market Size (M USD) 2024 | Market Share 2024 |
|---|---|---|
Veterinary Hospitals And Clinics | 610.76 | 63.51% |
Retail Pharmacies And Drug Stores | 320.75 | 33.35% |
Others | 30.17 | 3.14% |
6 Global Equine Healthcare Market Size by Region
North America is a major player in the global equine healthcare market. In 2024, the market revenue in North America is forecasted to be $363.23 million. The United States, as the largest economy in the region, contributes the most to this revenue. The high adoption rate of horses in North America, along with the increasing awareness of disease prevention among horse owners, drives the growth of the equine healthcare market. Additionally, the popularity of horse – riding sports and competitive racing in North America leads to a high demand for equine healthcare services and products. The well – developed veterinary infrastructure and the presence of major market players in the region also support the market’s growth.
Europe is another important region in the global equine healthcare market. In 2024, the market revenue in Europe is expected to reach $367.79 million. Countries like Germany, the UK, France, Italy, and Spain have significant horse – related industries. Germany, for example, has a strong equine breeding and racing culture, which results in a high demand for equine healthcare products and services. The European market benefits from advanced veterinary research and development, strict regulatory frameworks ensuring product quality and safety, and a high – income consumer base willing to invest in horse health. However, the market also faces challenges such as the impact of economic fluctuations on consumer spending and the need to adapt to evolving regulations.
The Asia – Pacific region has been showing remarkable growth in the equine healthcare market. In 2024, the market revenue in the Asia – Pacific is projected to be $166.15 million. China, in particular, has been increasing its investment in the equine industry, which has led to a growth in the demand for equine healthcare products. The development of horse – racing and equestrian sports in China and other countries in the region, such as Japan and South Korea, has also contributed to the market’s expansion.
The increasing awareness of animal welfare and the growing middle – class population with higher disposable income in the Asia – Pacific are further fueling the market growth. However, the region also faces challenges such as differences in regulatory environments across countries and the need to improve veterinary services in some rural areas.
The Middle East and Africa region has a relatively smaller but growing equine healthcare market. In 2024, the market revenue in this region is estimated to be $42.05 million. Countries like Saudi Arabia and the UAE have a long – standing tradition of horse – breeding and horse – related sports, which drives the demand for equine healthcare products. The increasing investment in the equine industry in these countries, along with the improvement of veterinary infrastructure, is contributing to the market’s growth.
In South Africa, the equine industry is also developing, with a growing demand for affordable and effective equine healthcare solutions. However, the region also faces challenges such as economic instability in some countries and the need to enhance veterinary education and training.
South America also has a presence in the global equine healthcare market. In 2024, the market revenue in South America is expected to be $22.47 million. Brazil is the largest market in the region, with a significant horse – breeding industry. The growth of the equine healthcare market in South America is driven by factors such as the increasing demand for high – quality equine products and the development of the local veterinary industry. However, the region also faces challenges such as the impact of economic crises on consumer spending and the need to improve access to veterinary services in remote areas.
Figure Global Equine Healthcare Market Size (M USD) by Region in 2024
7 Global Equine Healthcare Market Analysis by Major Players
Zoetis
Company Profile
Zoetis is the world’s largest manufacturer of medicines and vaccines for pets and livestock. Established in 2012, Zoetis operates as a listed subsidiary of Pfizer, the world’s largest pharmaceutical manufacturer, holding 83% of its shares. Zoetis is headquartered in the United States and has a global presence, serving veterinarians and animal owners in over 100 countries. The company is renowned for its commitment to improving the health and well-being of animals through innovative and high-quality products.
Business Overview
Zoetis specializes in the development, manufacturing, and marketing of a wide range of veterinary products, including pharmaceuticals, vaccines, and diagnostic tools. The company’s business strategy focuses on leveraging scientific and technological advancements to create products that address the evolving needs of the veterinary community and animal owners. Zoetis invests significantly in research and development to ensure that its products are at the forefront of veterinary medicine.
Product Offered
Zoetis offers a comprehensive portfolio of equine healthcare products designed to support the health and performance of horses. Its product line includes CORE EQ Innovator™, the first and only vaccine to contain all core equine disease antigens in one formulation, providing broad-spectrum protection against common equine diseases. Additionally, Zoetis provides Dormosedan®/Equimidine®/Detogesic®, a sedative/analgesic used for minor surgical and diagnostic procedures, ensuring horses remain calm and comfortable during veterinary care.
The company also markets Fluvac Innovator®/Equip FR®, a vaccine that delivers proven protection against contemporary equine influenza viruses, crucial for maintaining respiratory health. Quest®/Equest®/Equest Pramox® is a dewormer that effectively treats and controls internal parasites, supporting overall health and performance. Strongid® C2X is a daily dewormer that helps prevent parasite build-up, contributing to better nutrition, health, and appearance. Lastly, West Nile Innovator®/Equip WNV® is a vaccine that provides protection against the West Nile Virus, a significant threat to equine health.
Boehringer Ingelheim Animal Health
Company Profile
Boehringer Ingelheim Animal Health is a division of the German pharmaceutical giant Boehringer Ingelheim, founded in 1885. The company is a global leader in the animal health industry, committed to improving the health and well-being of animals through innovative solutions. Boehringer Ingelheim Animal Health operates in over 150 countries and is known for its extensive research and development capabilities.
Business Overview
Boehringer Ingelheim Animal Health focuses on the development and production of pharmaceuticals, vaccines, and diagnostic tools for a wide range of animal species, including horses. The company’s business strategy emphasizes innovation, sustainability, and collaboration with veterinarians, researchers, and animal owners to address the health challenges faced by animals. Boehringer Ingelheim Animal Health is dedicated to providing high-quality products that enhance animal health and welfare.
Product Offered
Boehringer Ingelheim Animal Health offers a diverse range of equine healthcare products, encompassing immunology solutions such as vaccines that protect horses against infectious diseases like equine influenza and tetanus. The company also provides parasitology products, including dewormers and other treatments designed to control and prevent parasitic infections, which can significantly impact equine health and performance.
Additionally, Boehringer Ingelheim Animal Health offers formulations that support digestive health and overall metabolic function, crucial for maintaining optimal health and performance in horses. The company’s product line also includes medications that provide relief from pain and inflammation, particularly useful for managing conditions like colic and joint pain. Furthermore, Boehringer Ingelheim Animal Health develops specialty medications designed to address specific health issues, such as respiratory conditions and skin disorders, ensuring comprehensive care for horses.
Merck Animal Health
Company Profile
Merck Animal Health is a division of Merck Corporation, established in 1921. The company is a leading provider of veterinary products and services, dedicated to improving the health and well-being of animals. Merck Animal Health operates globally, offering a wide range of products and solutions for various animal species, including horses. The company is known for its commitment to innovation and scientific excellence.
Business Overview
Merck Animal Health focuses on the development, manufacturing, and marketing of veterinary products, including pharmaceuticals, vaccines, and diagnostic tools. The company’s business strategy emphasizes innovation, customer focus, and collaboration with veterinarians and animal owners to address the health needs of animals. Merck Animal Health invests significantly in research and development to ensure that its products are at the forefront of veterinary medicine.
Product Offered
Merck Animal Health offers a comprehensive portfolio of equine healthcare products, designed to support the health and performance of horses. Its product line includes DOLOREX®, a pain relief medication specifically formulated for horses, providing effective management of conditions like colic and post-surgical pain. The company also markets EQUILIS® PREQUENZA, an inactivated vaccine that offers protection against equine influenza and other respiratory diseases, crucial for maintaining respiratory health.
PANACUR® EQUINE is a paste formulation for the treatment and control of gastrointestinal parasites, supporting overall digestive health. PRESTIGE® is a multivalent vaccine that provides comprehensive protection against equine encephalomyelitis, equine herpes virus, equine influenza, and tetanus. Lastly, REGUMATE® is a treatment for mares to control the breeding cycle and manage estrus-related issues, supporting reproductive health.