Equine Healthcare refers to the activities and practices aimed for the maintenance of horses. Equine healthcare offers the veterinary services intended for treating horses to enhance their quality of life, develop quality animal food and increase lifespan. The total equine population is directly proportional to the quality of equine healthcare. Equine healthcare includes a number of activities including diagnosis, therapies and supplements for maintaining internal health of horses. The diagnostic products help detect bacteria, viruses and antibodies, therapeutic products helps to treat disease through vaccination and supplement products helps in maintaining specific requirements.
High return on investment and rise in genotypic analyzers is expected to lead the market expansion
Equine veterinary practice is expected to be a high overhead owing to prevent the rising diseases like influenza virus, herpes virus, west nile virus and encephalomyelitis, where the cost for global vaccination is estimated to be around 30 million dollars by the Euro Surveillance Journal in 2016. Rising investments and popularity in alternative forms of gambling like horse racing, online gaming, betting, competitive riding, high return on investment and leisure is expected to drive the global equine healthcare market. The growth and rising demand for gestation diagnosis products, increasing urine test kits, ultrasound devices and supplement products will boost the global equine healthcare market. Additionally, the growing initiatives by equine healthcare organizations to develop drugs for various diseases is expected to give impetus to the equine healthcare market. The non-invasive test kits are largely preferred by the veterinarians owing to the easy usage and affordability.
Rising demand for equine diagnostic products is expected to boost equine healthcare market
The global equine healthcare market is segmented on the basis of diagnostic products, therapeutic products, supplementary products and geography.
On the basis of diagnostic products, the global equine healthcare market is segmented into:
- Pregnancy and Gestation Diagnostic
- Urine Test Kits
- Ultrasound Devices
- Breed Quality Analyzers
- Semen Quality Analyzers
- Genetic Disease Identification Products
On the basis of therapeutic products, the global equine healthcare market is segmented into:
- Dopamine Agonists
On the basis of supplement products, the global equine healthcare market is segmented into:
- Proteins and Amino Acids
- Protection Products
Asia Pacific market is expected to show positive growth owing to the import of quality of quality breeds and their maintenance
Regional segmentation of the equine healthcare market by Coherent Market Insights comprises of North America, Europe, Asia Pacific, Latin America, Middle East and Africa. According to the study conducted by the American Horse Council in 2004, U.S. has 9.2 million horses with $39 billion direct economic impact. Also, a total 22,849 horses were imported into the U.S. in 2013, thereby increasing the demand of equine healthcare in North America. The Australian market is among the leading horse breeding countries of Asia Pacific, hence contributing to the drastically increasing demand for healthcare products in Asia Pacific. Additionally, the maintenance of race-horse breeds by the rising investments from China by specific supplements, therapeutic and protection products drive the growth of Asia Pacific market.
Animal-health innovation driven acquisition broadens global equine healthcare market
Key players operating the equine healthcare market include Affymetrix Inc., Boehringer Ingelheim, Merck, Bayer Health Care and Elanco Animal Health. The agreement of Sanofi with Bayer equine health to launch a variety of products to prevent gastric ulcer syndrome, westnile virus, equine influenza and rabies in horses. The launch of updated equine influenza vaccine ProteqFlu by Merial broadens the portfolio of leading products. Other prominent Vendors include Vetoquinol, Novartis Animal Health, Ceva Holdings and Signostics.