Seattle, WA -- (SBWIRE) -- 11/14/2019 -- Equine Healthcare refers to the activities and practices targeted for the maintenance of horses. Equine healthcare offers the veterinary services to horses, providing better quality animal food, enhance quality of life, and increase lifespan. It also includes number of activities such as therapies, diagnosis, and supplements for maintaining internal health of horses. The diagnostic products help to treat disease through vaccination, while supplement products are used in maintaining specific needs. The total equine population is directly proportional to equine healthcare.
Market Dynamics- Drivers
High return on investment and rise in genotypic analyzers to drive the market growth
Growing prevalence of various diseases such as West Nile Virus, influenza virus, encephalomyelitis, and herpes virus is expected to increase the practice equine veterinary, which in turn, is expected to drive growth of the global equine healthcare market during the forecast period. According to Euro Surveillance Journal, in 2016, cost for global vaccination is estimated to be around US$ 30 million dollars. Furthermore, increasing investments and popularity in alternative forms of gambling such as online gaming, betting, horse racing, and competitive riding is expected to drive the market growth in the near future. Increasing demand for diagnosis products, supplement products, urine test kits, and ultrasound devices is expected to boost the global equine healthcare market growth. Moreover, increasing initiatives by equine healthcare organizations, in order to develop novel drugs for various diseases is expected to fuel growth of the global equine healthcare market over the forecast period. Veterinarians often prefer non-invasive test kits as they are affordable and easy to use.
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The global equine healthcare market is segmented on the basis of diagnostic products, therapeutic products, supplementary products and geography.
Regional Insights
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 American Horse Council's study, in 2004, the U.S. has 9.2 million horses with $39 billion direct economic impact. According to the same source, a total 22,849 horses were imported into the U.S. in 2013, thereby increasing the demand of equine healthcare in North America. Furthermore, the Australian market is among the leading horse breeding countries of Asia Pacific, hence boosting the demand for healthcare products in Asia Pacific. The maintenance of race-horse breeds by 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
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.
Key players operating the global equine healthcare market include Affymetrix Inc., Boehringer Ingelheim, Merck, Bayer Health Care and Elanco Animal Health.
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