Equine Healthcare Market Share, Growth, Opportunitites, Analysis, Trends, Market Size, and Forecasts 2018-2026
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Equine healthcare services include those provided to horses used for racing and betting, competitive riding, and leisure. Routine veterinary care for vaccinations, parasite control, and dental care; grooming and hoof care; and protection from natural elements such as rain, wind, and snow are all part of healthcare. Other aspects of general care, in addition to properly feeding and exercising one's horse, are required to keep the horse healthy throughout his or her life. Adult horses should be examined by a veterinarian at least once a year. Geriatric horses (those over the age of 20) should see their veterinarian twice a year, if not more frequently, because illness is more common in older animals and can be detected earlier.
The global equine healthcare market is expected to grow due to a variety of factors including increased demand for equine animals, increased prevalence of zoonotic diseases, increased awareness of equine health, the presence and popularity of competitive sports such as horse racing, and increased government initiatives. According to the United States Department of Agriculture (USDA), 80 positive horses were diagnosed with equine infectious anaemia (EIA) in 2017, compared to 52 positive horses diagnosed with the disorder in 2016.The decreasing number of equine animals and the rising costs of animal healthcare, which includes equine health care, are expected to limit the global equine health market growth.
According to a 2004 study conducted by the American Horse Council, the United States has 9.2 million horses with a direct economic impact of $39 billion. In addition, a total of 22,849 horses were imported into the United States in 2013, increasing the demand for equine healthcare in North America. The Australian market is one of Asia Pacific's leading horse breeding countries, contributing to the region's rapidly increasing demand for healthcare products. Furthermore, the upkeep of race-horse breeds by rising Chinese investments in specific supplements, therapeutic, and protection products drives the growth of the Asia Pacific market.
The key players operating the equine healthcare market include Affymetrix Inc., Boehringer Ingelheim, Merck, Bayer Health Care and Elanco Animal Health.
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