The global equine veterinary therapeutics market is expected to expand significantly and generate revenue of USD 2,671.9 million by 2033 from USD 1,378.7 million in 2023. This increase in revenue is made with an impressive CAGR value of 6.8%.
Historically the equine veterinary therapeutics market is generated USD 1,307.6 million in 2022. There is expanding popularity of horse activities like racing and jumping which makes demand for equine veterinary therapeutics for care and treatment for horses if any horse gets any injury in these activities.
Equine veterinary therapy is a broad word that covers a wide range of horse therapies. These medicines have the potential to prevent, diagnose, and cure a wide range of diseases and medical conditions.
Horse owners are investing a large amount of money in the health of their animals as they are becoming more aware of the importance of care and treatment of their horses which brings the growth of the equine veterinary therapeutics market.
Regulations governing the use of horse veterinary medications have been established by governments. These rules are intended to ensure both the security and the effectiveness of these health care products. This is predicted to support the expansion of the equine veterinary treatments market, as owners of animals will be more willing to utilize medications that have received approval from the government.
| Report Attribute | Details |
|---|---|
| Equine Veterinary Therapeutics Market Value (2023) | USD 1,378.7 million |
| Equine Veterinary Therapeutics Market Anticipated Forecast Value (2033) | USD 2,671.9 million |
| Equine Veterinary Therapeutics Market Projected Growth Rate (2023 to 2033) | 6.8% |
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The global equine veterinary therapeutics market expanded significantly from a revenue of USD 1,052.2 million in 2017 to USD 1,307.6 million in 2022 with an impressive CAGR of 4.4% during the historical period 2017 to 2022.
The global equestrian sports business is quickly expanding, which is fueling demand for equine veterinarian services. Horses are utilized in many sports, such as racing, show jumping, and dressage. These activities necessitate horses in peak physical condition, which increases the demand for preventative and therapeutic veterinary services.
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North America is the largest horse veterinary treatments market, accounting for 30.7% value share in global market. It is likely to expand more in the next decade. The veterinary treatments market in North America is expanding due to increased demand for anti-infectives, vaccinations, pain medications, digestive aids, and the strong research and development industry in North America, are driving the market.
| Country | The United States |
|---|---|
| 2022 value share in Global Market | 24.7% |
The European market for horse veterinary medications is extremely fragmented and has a value share of 35.2% in 2022, with many small and medium-sized businesses. However, a few huge international corporations play a significant influence in the industry. Many Europe companies manufacture horse goods including immunizations, antibiotics, anti-inflammatory medicines, and pain medications.
| Country | United Kingdom |
|---|---|
| Value CAGR (2023 to 2033) | 4.8% |
| Country | Germany |
|---|---|
| 2022 value share in Global Market | 6.2% |
The adoption of technology is also playing a significant role in the growth of the Asia Pacific equine veterinary therapeutics market. New technologies are being developed that have the potential to transform the treatment of horse illnesses, like gene therapy, immunotherapy, and customized medicine. These technologies are projected to play a significant role in market growth in the future years in the region.
| Country | Japan |
|---|---|
| 2022 value share in Global Market | 4.4% |
| Country | Value CAGR (2023 to 2033) |
|---|---|
| China | 8.3% |
| India | 6.8% |
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| Segment Name | Segment Share |
|---|---|
| Topical | 43.2 |
| Veterinary Clinics | 40.5 |
With the increased demand for anti-infectives, pain relievers, and digestive aid products, the topical section of the veterinary treatments market is expanding and has a segment share of 43.2%. The rising frequency of infectious illnesses, rising prevalence of chronic diseases, and rising pet obesity rates are all boosting demand for these items.
With rising demand for surgery, diagnostic testing, and preventive care, the veterinary clinics sector of the veterinary treatments market is expanding and has a segment share of 40.5%. The rising prevalence of animal injuries and diseases, the increased availability of diagnostic testing, and the expanding understanding of the value of preventative treatment are all boosting demand for these services.
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The equine veterinary therapeutics market is expected to expand at a CAGR of 6.8% from 2023 to 2033.
North America is the leading region in the global equine veterinary therapeutics market.
The global equine veterinary therapeutics market was valued at USD 1,378.7 million in 2023.
The anticipated revenue of the equine veterinary therapeutics market until 2033 is USD 2,671.9 million.
Zoetis, Boehringer Ingelheim, Merck Animal Health, Virbac, Elanco Animal Health, and Ceva Animal Health are prominent market manufacturers.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Drugs 5.1. Anti- Inflammatory 5.2. Anti – Infective 5.3. Parasiticides 5.4. Others 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Vaccines 6.1. Recombinant vaccines 6.2. Inactivated Vaccines 6.3. Live attenuated vaccines 6.4. Others 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Feed Additives 7.1. Vitamins 7.2. Antibiotics 7.3. Amino acids 7.4. Enzymes 7.5. Others 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Route of Administration 8.1. Oral 8.2. Parental 8.3. Topical 9. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Distribution Channel 9.1. Veterinary Hospital 9.2. Veterinary Clinics 9.3. Pharmacies and drug stores 9.4. E-commerce 9.5. Other 10. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 10.1. North America 10.2. Latin America 10.3. Western Europe 10.4. Eastern Europe 10.5. South Asia and Pacific 10.6. East Asia 10.7. Middle East and Africa 11. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 16. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 17. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 18. Key Countries Market Analysis 19. Market Structure Analysis 20. Competition Analysis 20.1. Merck Animal Health 20.2. Affymetrix 20.3. Elanco Animal Health 20.4. Zoetis (Pfizer Animal Health) 20.5. Equine Health UK 20.6. Olympia Equine Veterinary Services PLLC 20.7. Ceva Sante Animale 20.8. Eli Lilly and Company 20.9. Virbac 20.10. Bayer AG 21. Assumptions & Acronyms Used 22. Research Methodology
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Equine Veterinary Therapeutics Market
