Equine Pharmaceuticals And Supplements Market Report

Market Insights

The Global Equine Pharmaceuticals and Supplements Market is projected to grow from USD 860.2 million in 2020 to USD 1,100.5 million by 2026 at a CAGR of over 4.2% during the forecast period.

Figure: Global Equine Pharmaceuticals and Supplements Market Size, 2020-2026 (USD Million)

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What are Equine pharmaceuticals and supplements?

Equine pharmaceuticals and supplements are referred to as medicines or supplements which are specifically used to cure diseases and enhance nutrition. These pharmaceuticals and supplements consist of vitamins, proteins, electrolytes, and energy supplements. These medical products are specifically used for donkeys, horses, and zebras to cure their injuries, to provide energy for these animals to be able to stay healthy and strong.

Key Players

Key players operating in the global equine pharmaceuticals and supplements market are-

• Zoetis (The US),
• Boehringer Ingelheim (Germany),
• Merck & Co (The US),
• Elanco Bayer (The US),
• Ceva Sante Animale (France),
• Virbac (France),
• Vetoquinol (France),
• Affymetrix (The US), and
• Celltrion (South Korea).

Market Dynamics

Growing awareness regarding equine pharmaceuticals and supplements products and rising demand for herbal feed, digestive, and energy supplements owing to the choice among horse breeders for organic products are some of the factors bolstering the product demand.

• Also, the equestrian and horseracing industry encourages the demand for equine supplements, as the health of the horses is important, thus accelerates the market growth.
• Also, healthy horses in certain sectors offer the impetus for the gambling and betting industries related to horse racing, further boosts the market expansion.
• However, strict regulations associated with equine pharmaceutical products and supplements act as a major hindrance to global market growth.

Segment Analysis

Type Trends

By type, the equine pharmaceuticals and supplements market has been segmented into pharmaceuticals and supplements.

• Under these, the pharmaceuticals segment held a substantial market share in 2020 and is likely to register the fastest CAGR in the coming years.
• This is mainly attributed to the growing demand for pharmaceuticals for curing illnesses and for healing the diseases so that the horses are in good shape for the races, thus promulgates the segment growth.

Regional Trends

By region, the Asia Pacific market garnered a significant market share in 2020 and is projected to grow at a healthy CAGR during the assessment period.

This is mainly attributed to the development of horseracing and other horse-related activities in countries such as China, Australia, and New Zealand. Also, increasing horse rearing in this region coupled with rising betting and gambling activities, further augments the regional growth.

COVID-19 Impact on Global Equine Pharmaceuticals and Supplements Market

The COVID-19 pandemic has significantly affected the equine pharmaceuticals and supplements industry due to strict lockdown measures and curbs on leisure activities such as horse riding events and race competitions across the globe. Furthermore, the equestrian races and events for horse riding were either delayed or postponed to curb the spread of coronavirus, thus affecting the equine pharmaceuticals and supplements market.

Critical Questions Answered in the Report

• What are the key trends in the global equine pharmaceuticals and supplements market?
• How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in the next five years?
• What is the impact of COVID-19 on the global equine pharmaceuticals and supplements market?
• What are the key strategies adopted by the major vendors to lead in the global equine pharmaceuticals and supplements market?
• What is the market share of the top vendors?

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Target Audience

The following is a list of the customers that the Equine pharmaceuticals and supplements market aims to convert the most:

• Equine pharmaceuticals and supplements companies
• Equine pharmaceuticals and supplements vendors
• Horse owners and sellers
• Horse riding event organizations
• Horse race competition organizations

Custom Research: Stratview research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at [email protected].