The global equine pharmaceuticals and supplements market is projected to reach USD X.xx billion by 2023, growing with a CAGR between 2.0% to 2.5% from 2017 to 2023. Governments and various animal health institutions spread awareness about the need for good healthy diets and health supplements for the growth and healthy life of the horses among the horse breeders and trainers in various equine industries. Moreover, they provide information and awareness about the need for prevention of certain diseases and the remedy for some medical conditions. Increasing awareness about equine pharmaceuticals and supplements products is driving the growth of the global equine pharmaceuticals and supplements market. Demand for herbal digestive, feed, and energy supplements for horses are increasing due to the preference among horse breeders and trainers for natural products and it is expected to drive the growth of the pharmaceuticals and supplements market. The horseracing and equestrian sectors drive the demand for equine pharmaceutical products, as the health of the horses are very important for sustaining the growth of those sectors. Healthy horses in these sectors provide the impetus for the betting and gambling industries related to horse racing. Therefore, most of the trainers and breeders of horses adopt advanced pharmaceutical products for preventing illnesses and for healing the diseases, so that the horses are in good shape for the races.
Stringent regulations regarding the pharmaceutical products and supplements is a major restraint for the market. Availability of alternative betting and gambling avenues affect the equine related industries in matured economies and it is expected to be a restraint for the growth for global equine pharmaceuticals and supplements market. Expansion of horse racing in certain geographical regions is expected to provide opportunities for major players the global equine pharmaceuticals and supplements market to expand. However, the decrease in breeding of horses has led to a decrease in population of horses and it is expected to remain as a major challenge for global equine pharmaceuticals and supplements market during the forecast period.
Figure: Global Equine Pharmaceuticals and Supplements Market By Value 2015 - 2023
The report segments the global equine pharmaceuticals and supplements market by product type, distribution channels and region. On the basis of product, the market is segmented as pharmaceuticals and supplements. Based on distribution channel, the market is segmented as veterinary hospitals, drugstores, and some others.
Geographic Coverage and Analysis:
The report provides regional analysis covering geographies such as North America, Europe, Asia-Pacific, and Rest of the World. With the presence of 10 million horses and as one of the horse exporting nations in the world, USA drives the North American equine pharmaceuticals and supplements market. Traditional horseracing and equestrian nations such as Czech Republic, France, Hungary, Ireland, Italy, Poland and United Kingdom drives the growth of European pharmaceuticals and supplements market, as there is demand for pharmaceuticals and supplements products for providing best care for the racing horses in the region. Moreover, the major horse exporting nations such as Netherlands, Germany, Ireland, Belgium, France and United Kingdom spend heavily on quality equine pharmaceuticals and supplements products. Adoption of horses’ welfare measures by European parliament is expected to provide a positive outlook for the European pharmaceuticals and supplements market during the forecast period. Asia-Pacific region is expected to become the fastest growing equine pharmaceuticals and supplements market, due to the expansion of horseracing and other horse related activities in countries such as China, Australia and New Zealand. China drives the growth of the Asia-pacific market with significant import of horses from other regions for racing and other activities. With the presence of major horse racing events like Dubai World cup, the growth of horse breeding and other equine related sporting and non-sporting sectors are significant in the Middle East and it is expected to drive the growth of the equine pharmaceuticals and supplements market in Middle East. Horse breeding in countries such as Uruguay to cater the horse racing industry in Middle East and other regions drives the growth of the Latin American equine pharmaceuticals and supplements market. Horse exporting nations such as South Africa drive the African equine pharmaceuticals and supplements market.
The companies covered in the report include Affymetrix, Bayer Animal Health, Boehringer Ingelheim, Celltrion Inc., Elanco Animal Health, Merck Animal Health, Merial, Novartis Animal Health, Vetoquinol and Zoetis.
The report provides deep insights on demand forecasts, market trends and micro and macro indicators. In addition, this report provides insights on the factors that are driving and restraining the demand of equine pharmaceuticals and supplements globally as well as regionally. Moreover, IGR-Growth Matrix analysis given in the report brings an insight on the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter’s five forces analysis and DRO analysis of equine pharmaceuticals and supplements. Moreover, the study highlights current market trends and provides forecast from 2017 to 2023. We also have highlighted future trends in the equine pharmaceuticals and supplements market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight on the market share of the leading players. Additionally, the analysis highlights rise and fall in the market shares of the key players in the market. This report will help manufacturers, suppliers and distributors of the equine pharmaceuticals and supplements market to understand the present and future trends in this market and formulate their strategies accordingly.
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