Equine Healthcare Market Size to grow by USD 582.4 million between 2024-2028

Technavio, a leading provider of market research reports, has released its latest study on Equine Healthcare Market. This report offers a comprehensive analysis of the current market trends, emerging opportunities, and key challenges.

Key Highlights:

• Market Research Overview: In the equine healthcare market, companies specializing in research and development or production of veterinary drugs are key players. According to market analysis by Technavio, the global equine healthcare industry size is determined by the collective revenue generated by providers of equipment, supplies, and veterinary pharmaceuticals. Factors driving growth in this sector include the increasing aging population of horses, with estimates suggesting that approximately one-quarter of the US equine population will be over 30 years old by 2050, and Europe reaching a similar demographic trend by 2030. - The Equine Healthcare Market is experiencing significant growth, fueled by the Rise in incidences of zoonotic diseases. Businesses are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

• Major Findings:
  • Rise in incidences of zoonotic diseases
  • Rising awareness about disease prevention
  • High costs associated with equine healthcare
  • Limited availability of skilled professionals and specialized services
• Growth Projections

The market size is estimated to grow by USD 582.4 million, at a CAGR of 6.78% during the forecast period. The equine healthcare market is experiencing significant growth due to technological innovations and increased R&D investments from vendors. Notable developments include Zoetis' expansion of Vetscan Imagyst with AI dermatology and equine FEC analysis applications in March 2023. IDEXX's January 2022 announcements focused on streamlining veterinary operations and providing customized support through improved products and services. These advancements contribute to enhanced diagnostic capabilities and operational efficiency in the equine healthcare sector.

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• Regional Insights

The equine healthcare market represents a significant business opportunity, catering to the health and wellbeing of horses through innovative solutions. Key sectors include veterinary services, pharmaceuticals, and equine nutrition. Growth is driven by increasing horse ownership, advanced diagnostic tools, and a focus on preventative care. Strategic partnerships and technological advancements are essential for market players to stay competitive.

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