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

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

Pharmaceuticals and Supplements for equines. These include fly&insect control, dewormers, grooming, hoof & leg care, wound care treatments, leather care, stable supplies and nutritional supplements.

Equine pharmaceuticals can help maintain the health and welfare of horses by addressing their core needs, such as protection against established and emerging diseases, treatment of internal parasites, and management of reproduction. Equine supplements can be broad-spectrum vitamin and mineral supplements, which are aimed at supporting a horse's continued general wellbeing, while others are formulated to target a specific area-for example, joint supplements, hoof supplements or calmers, etc.

Market Overview:

The latest research study on the global Equine Pharmaceuticals and Supplements market finds that the global Equine Pharmaceuticals and Supplements market reached a value of USD 1048.73 million in 2022. It’s expected that the market will achieve USD 1485.15 million by 2028, exhibiting a CAGR of 5.97% during the forecast period.

Market Drivers

Horse racing is an equestrian performance sport involving two or more horses, which are ridden by jockeys within a certain distance. For centuries, this sport has been loved by horse lovers and gambling enthusiasts. Instead of betting by the cashier or bookmaker, fans can now bet on their favorite horses in real-time in their comfortable homes, and most of the races are broadcast live on millions of screens around the world. Therefore, consumers can also compare odds, pay by electronic payment, and track their bets in a convenient location. The equestrian events in the Olympic Games include figure riding, a three-day race, and an obstacle course. Each event is divided into team competition and individual competition, with a total of 6 gold medals. Founded in 1979, the IAAF World Cup steeplechase is the most influential event with the highest level and the largest number of riders among all equestrian events in the world. Founded in 1990, the World Equestrian Congress is held every four years and organized by the International Equestrian Federation. There are seven events, namely dressage, steeplechase, triathlon, horse-drawn carriage race, endurance race, western reining, and horseback gymnastics. The majority of horse trainers and breeders use pharmaceuticals to prevent illnesses and heal disorders, ensuring that the horses are race-ready.

Owing to the advantages such as alleviating a health issue, preventing the occurrence of health issues, and modifying equine behavior, equine supplement products have gained significant importance as a nutritional food. The rise of various equestrian events will promote demand for Equine Pharmaceuticals and Supplements

Region Overview:

The United States was the largest revenue market with a market share of 38.11% in 2017 and 38.32%in 2022. In 2022, Europe's market share was 36.53%, ranking second.

Company Overview:

The top three companies are Zoetis, Boehringer Ingelheim, Merck Animal Health, with the revenue market share of 26.38%, 20.49%, 15.20% in 2021.

Segmentation Overview:

Among different product types, Gastrogard & Ulcergard segment is anticipated to contribute the largest market share in 2027.

Application Overview:

By application, the Thoroughbred Horse segment occupied the biggest share from 2017 to 2022.

Key Companies in the global Equine Pharmaceuticals and Supplements market covered in Chapter 3:

Boehringer Ingelheim
Ceva Santé Animale
Purina Animal Nutrition
Merck Animal Health
Univet Pharmaceuticals Ltd.
FarmVet
Ranvet
Zoetis
Omega Alpha Pharmaceuticals
American Regent Animal Health

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

Gastrogard & Ulcergard
Phenylbutazone
Adequan® im
Others

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

Thoroughbred Horse
Not Thoroughbred Horse

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)