Equine Healthcare Market: By Product Type (Drugs,Vaccines,Supplemental Feed Additives), By Disease Type (West Nile Virus,Equine Rabies,Potomac Horse Fever,Tetanus,Equine Influenza,Equine Herpes Virus and Equine Encephalomyelitis), By Distribution Channel (Veterinary Hospitals & Clinics,Retail Pharmacies and Drugs Stores) and Geography

Equine Healthcare Market size was valued at  USD 3,432.9 million in 2022 and is poised to grow at a significant CAGR of 6.8% from 2023 to 2029. An increase in the incidence of various equine diseases such as Merial and West Nile virus coupled with the rise in R&D for the development and launch of newer therapeutics and vaccines is anticipated to boost the market over the forecast years. For instance, Boehringer Ingelheim focuses on the research and development of innovative medicines and therapies for equines. Such innovative equine products are Arti-Cell Forte and Aservo EquiHaler as a result, the company expands its market share in Australia. Moreover, in 2020, company spent USD 51.05 Mn on research and development platforms. It was more than 7% compared with 2019 The growth of the market is attributed to factors such as growing demand for equine animals, rising animal healthcare expenditure, surge in prevalence of equine diseases, rise in demand for horses for various purposes including horse racing, increase in adoption of equine nutritional supplements are significant drivers for the growth of the equine healthcare market over the forecast years.

Equine Healthcare Market Key Developments:

• In December 2020, the Zoetis company invested USD 563 million for R&D activities, up by USD 106 million from the previous year 2019 and Merck & Co. company registered R&D investment at USD 13,558 million, up by USD 3,686 million from the previous year 2019.