Global Equine Healthcare Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Equine Healthcare Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Market Overview:

The latest research study on the global Equine Healthcare market finds that the global Equine Healthcare market reached a value of USD 876.7 million in 2022. It’s expected that the market will achieve USD 1173.42 million by 2028, exhibiting a CAGR of 4.98% during the forecast period.

Assessment of the Overall Impact of COVID-19 on the Industry

Due to the COVID-19 outbreak, many factories were closed. Equine healthcare products production is also affected. The supply chain and downstream application industries have been affected by the epidemic, and production has stagnated, which has also adversely affected the development of the equine healthcare products industry. Although COVID-19 currently has a long-term possibility, its subsequent impact depends on the development of the epidemic and related measures taken by the government.

Due to the impact of COVID-19, market transportation is restricted and trade liquidity is weakened, resulting in a large amount of equine healthcare products spot shortage. At the beginning of the epidemic, the market inventory was not high, and the overall supply was tight, which brought up prices in various places. With the epidemic under control, the demand for disinfection has gradually returned to calm, and downstream users have mostly turned to consume inventory. Due to insufficient raw materials, prices will increase. From an overall point of view, the current equine healthcare market supply is insufficient, the cost is high, and the manufacturers are not willing to make low-price transactions. Although the demand is sluggish, the overall transaction downside space is relatively limited.

Due to the global epidemic of COVID-19, many countries have issued social distancing policies that require people to isolate at home. Many factories were closed due to the epidemic. The production of equine healthcare products is also affected. However, historical data proves that the impact of natural disasters on the economy is V shaped, and the economy will rebound after the epidemic ends.

Economic Factors

The current international economic environment is complicated. Due to the needs of economic development and industrial structure adjustment, the tariff and non-tariff import and export policies of various countries are also constantly being adjusted. If the import and export policies of the major trading countries change, it will have an adverse impact on the export of equine healthcare related companies, which will affect their business performance.

Social Factors

Social factors include demographic trends, such as population growth rate, age distribution, income distribution, occupational attitudes, safety priorities, health awareness, lifestyle attitudes, and cultural barriers. These factors are particularly important for equine healthcare industrial development.

Technological Factors

Technology is rapidly disrupting various industries. In the past five years, the industry has changed very quickly, and it has not even provided opportunities for mature participants to respond to changes. Companies related to equine healthcare should not only conduct technical analysis of the industry, but also analyze the speed at which technology can damage the industry.

Region Overview:

In global comparison, a significant portion of the revenue was generated in Europe (38.44% in 2022).

Company Overview:

Zoetis is one of the major players operating in the Equine Healthcare market, holding a share of 27.66% in 2023.

Zoetis

Zoetis is the world's largest manufacturer of medicines and vaccines for pets and livestock. Zoetis is a listed subsidiary of the world's largest pharmaceutical manufacturer Pfizer, with Pfizer accounting for 83% of the shares.

Boehringer Ingelheim Animal Health

Boehringer Ingelheim is a German pharmaceutical company. The Boehringer Ingelheim Animal Health business is a global leader in the animal health industry and part of family-owned Boehringer Ingelheim, founded in 1885. The company is committed to accompany the health of animals and livestock animals.

Segmentation Overview:

By type, Vaccine segment accounted for the largest share of market in 2022.

Application Overview:

The market's largest segment by application is the segment Veterinary Hospitals And Clinics, with a market share of 63.67% in 2022.

Key Companies in the global Equine Healthcare market covered in Chapter 3:

Merck Animal Health
Equine Products (UK) Ltd
Virbac S.A
Purina Animal Nutrition LLC
Boehringer Ingelheim Animal Health
Vetoquinol S.A
Zoetis
Ceva Santé Animale

In Chapter 4 and Chapter 14.2, on the basis of types, the Equine Healthcare market from 2018 to 2029 is primarily split into:

Drugs
Vaccine
Supplemental Feed Additives

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Equine Healthcare market from 2018 to 2029 covers:

Veterinary Hospitals And Clinics
Retail Pharmacies And Drug Stores
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)