Sarasota, FL -- (SBWIRE) -- 07/24/2018 -- Zion Market Research has published a new report titled "Equine Healthcare Market by Product (Drugs, Vaccines and Supplemental Feed Additives) by Disease (West Nile Virus, Equine Rabies, Equine Influenza, Equine Herpes Virus, Potomac Horse Fever and Others), by Distribution Channel (Veterinary Hospitals and Clinics, Retail Pharmacies and Drug Stores and Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 - 2023". According to the report, global equine healthcare market was valued at approximately USD 601.83 million in 2017 and is expected to generate revenue of around USD 752.76 million by end of 2023, growing at a CAGR of around 3.80% between 2017 and 2023.

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Equine health refers to veterinary services intended to treat horses to enhance their quality of life. The equine healthcare market is an emerging field of pharmaceuticals. The global equine healthcare market is driven by the undying trends of horse-racing, high incidence of equine infections, and global animal health development management programs. Rising demand for pet insurance is opening up new avenues for the global equine healthcare market to grow in the future. The participants are attracted by a high return on investment (ROI) which is leading to market expansion. Also, investment by various other geographical regions in horse racing is driving the growth of this market.

However, the market is facing challenges due to stringent regulations. The industry is witnessing competition due to numerous players available for the same product. The market is also likely to face a challenge from the decreasing population of equine species due to worldwide availability of alternatives to gambling such as online betting and the declining population of equine.

The equine healthcare market is segmented on the basis of product type into drugs, vaccines, and supplemental feed additives. The drugs segment is anticipated to hold the largest share in 2016, followed by vaccines and supplemental feed additives, owing to high market requirements of drugs for the treatments of equines.

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On the basis of disease type, the market is segmented into west nile virus, equine rabies, equine influenza, equine herpes virus, potomac horse fever and others category. Equine rabies and equine influenza are expected to dominate the in the forecast period. On the basis of the distribution channel, the market is segmented into veterinary hospitals and clinics, retail pharmacies and drug stores and others. The veterinary hospitals and clinics segment is expected to dominate the market in the forecast period owing to the vast availability of drugs and vaccines.

North America, Europe, Asia-Pacific, Latin America and Middle East & Africa are key regional segments of the global equine healthcare market. The North America and Europe equine healthcare markets are expected to grow during the forecast period due to the significant adoption rate of equines per households, high interest in the equine care, impressive animal healthcare expenditure, and strong business operation of the brand companies in these two regions. In the Asia Pacific, the maintenance of race-horse breeds by the rising investments from China for specific supplements, therapeutic and protection products is driving the growth of the market in this region.

Some of the key players in equine healthcare market are Bayer AG (Bayer Animal Health), Boehringer Ingelheim, Ceva Santé Animale, Eli Lilly and Company (Elanco), Equine Products U.K. Ltd., Merck & Co. (Merck Animal Health), Sanofi (Merial), Purina Animal Nutrition LLC, Vetoquinol S.A., Zoetis.

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This report segments the global equine healthcare market as follows:

Global Equine Healthcare Market: Product Type Segment Analysis

Drug Type
Anti-Infectives
Anti-Inflammatory
Parasiticides
Others
Vaccine Type
Inactivated
Live Attenuated
Recombinant
Others
Supplemental Feed Additives

Global Equine Healthcare Market: Diseases Segment Analysis

West Nile Virus
Equine Rabies
Equine Influenza
Equine Herpes Virus
Potomac Horse Fever
Others