The Equine Healthcare Global Market Report 2023 by The Business Research Company, provides equine healthcare market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-yearforecast period – 2023-2032.
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According to The Business Research Company’s Equine Healthcare Global Market Report 2023, the market size will grow from $1.28 billion in 2022 to $1.37 billion in 2023 at a compound annual growth rate (CAGR) of 7.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the global equine healthcare is expected to grow to $1.76 billion in 2027 at a CAGR of 6.5%.
The growing awareness of animal healthcare will support the growth of the equine healthcare market during the forecast period. People are becoming more aware of the importance of animals in the ecosystem, and animal health is critical not just for their safety and well-being, but also for the safety and well-being of humans. The diseases in animals can easily be transferred to humans hence, governments and private institutions are investing to develop the animal healthcare infrastructure in various countries.
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The equine healthcare market is segmented:
1) By Product Type: Drugs, Vaccines, Medical Feed Additives
2) By Disease: Equine Influenza, Equine Herpes virus, Equine Encephalomyelitis, West Nile Virus, Equine Rabies, Potomac Horse Fever, Tetanus
3) By Distribution: Veterinary Hospitals and Clinics, Retail Pharmacy, Online Pharmacies
The introduction of new and effective products by key manufacturers in equine healthcare for rapid detection of disease in the equine population and to ensure better therapeutic outcomes is a key trend in the market. For instance, in June 2021, Epona Biotec, a veterinary startup dedicated to advancing equine health care, launched the VetTrue System, a remote temperature-monitoring system for horses. A team of veterinary, equestrian, and technology professionals developed the VetTrue System to provide a more accurate, less invasive health-monitoring solution for veterinarians, horse owners, and professionals in the equestrian industries. The VetTrue System makes use of a single-use TailTab temperature sensor that is securely attached beneath the tail. Once implanted, the horse’s temperature is continuously monitored and transferred to the VetTrue App through Bluetooth.
The equine healthcare market report table of contents includes:
1. Executive Summary
2. Equine Healthcare Market Characteristics
3. Equine Healthcare Market Trends And Strategies
4. Equine Healthcare Market – Macro Economic Scenario
5. COVID-19 Impact On Equine Healthcare Market
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26. Africa Equine Healthcare Market
27. Equine Healthcare Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Equine Healthcare Market
29. Equine Healthcare Market Future Outlook and Potential Analysis
30. Appendix
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