Titled, “Equine Healthcare Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2025,” the study analyzes the development of this market.
Albany, NY -- (SBWIRE) -- 03/19/2018 -- A report on the global market for equine healthcare has been added to the swiftly growing portfolio of Marketresearchreports.biz. The major trends, growth drivers as well as issues being faced by the market are discussed in detail in this report. The exhaustive study includes the future analysis and growth prospects of the equine healthcare market, including market share and size on account of risk factors, along with updates current trends and opportunities.
Equine health primarily refers to veterinary services meant to treat horses to improve their quality of life, boost their lifespan, and develop better quality animal fodder. Equine diagnostic products, equine therapeutic products, and equine supplement products are the three major product types discussed in this report. Equine diagnostic products help to detect bacteria, antibodies, and viruses; equine therapeutic products include vaccination that helps treat any disease condition; and equine supplement products help in maintaining specific requirement of supplements.
The global equine healthcare market is fuelled by the trend of horse-racing that refuses to die down across a number of countries despite several regulations by governments. The high incidence of infections in horses, along with the global animal health development management programs are slated to drive the market further. While a large number of horse-owners across Europe and North America are showing declining interests in participating in horse shows, racing, and events, the increased focus on raising high quality breeds of horses to cash in on the high returns opportunity by exporting them to locations such as China could act as a driver for the market.
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Rising per capita incomes, increased expenditure on animal healthcare, and the reviving horse racing industries in countries across Asia Pacific is also likely to have a positive impact on the global equine healthcare market in the coming years. China has been expanding the capacity of equine industry and investing in horse racing by importing high quality breeds from other countries. Thus, China is expected to emerge as a leading market for equine healthcare products, as large volumes of nutritional supplements, drugs, and vaccines are required for race horses. Moreover, the immense expenditures on animal healthcare in Australia also makes it one of the key driving forces for the overall equine healthcare market.
The North America and Europe equine healthcare markets are expected to grow at a healthy pace over the forecast period due to the significant adoption rate of horses per households, high interest in equine care, impressive animal healthcare expenditure, and strong business operation of the brand companies in these two regions.
On account of the large number of companies manufacturing the same product varieties, the competitive landscape of the global equine healthcare market is reported to be largely fragmented and highly competitive. Companies can benefit from putting an increased emphasis on geographical expansion and targeting regional markets with promising growth opportunities such as Asia Pacific.
Some of the most key players in the global equine healthcare market are Equine Products UK Ltd, Bayer AG (Bayer Animal Health), Ceva Santé Animale, Sanofi (Merial), Purina Animal Nutrition LLC., and Merck & Co. (Merck Animal Health).
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