Equine Pharmaceuticals & Supplements Market to Grow with a CAGR of 5.90% through 2028

Rising participation in equine sports and activities, and a growing equine population are expected to drive the Global Equine Pharmaceuticals & Supplements Market growth in the forecast period, 2024-2028.

According to TechSci Research report, “Equine Pharmaceuticals & Supplements Market – Global Industry Size, Share, Trends, Competition Forecast & Opportunities, 2028”, the Global Equine Pharmaceuticals & Supplements Market stood at USD 972.89 million in 2022 and is anticipated to grow with a CAGR of 5.90% in the forecast period, 2024-2028. This can be attributed to advancements in veterinary science. Advancements in veterinary science have led to the development of more effective and specialized equine pharmaceuticals and supplements. These products are designed to address specific health concerns, resulting in improved treatment outcomes and performance enhancement for horses.

Furthermore, collaborative efforts between pharmaceutical companies, veterinary researchers, and academic institutions are expected to lead to the development of more specialized and effective equine healthcare products. These partnerships will drive innovation and improve treatment options for horses.

The global equine pharmaceuticals and supplements market is experiencing growth due to the increasing awareness surrounding these products. There is a rising preference among horse breeders and trainers for organic options, leading to an uptick in demand for herbal digestives, horse feeds, and energy supplements. This trend is expected to be a key driver of market growth in the forecast period.

Furthermore, the surge in awareness about equine medicines and supplements, coupled with the growing interest in herbal feeds and supplements among horse breeders who are adopting organic practices, is contributing to the heightened demand for these products. Additionally, the horseracing and equestrian sports sectors are playing a pivotal role in driving the need for equine medicines, given that the health of horses is paramount in these industries. Healthy horses are essential for enhancing the betting and gambling aspects associated with horseracing, prompting trainers and breeders to invest in high-quality pharmaceuticals to maintain and improve their horses' racing condition.

Nevertheless, stringent regulations surrounding pharmaceuticals and dietary supplements pose a significant challenge to the market. Additionally, the availability of alternative betting and gambling options in developed countries is impacting the horse-related industry, potentially slowing down the growth of the global equine medicines and nutritional supplements market.

The emergence of horse racing in specific geographical regions presents growth opportunities for key players in the global equine medicines and nutritional supplements market. However, the declining trend in horse breeding, leading to a decrease in horse populations, remains a noteworthy challenge that is expected to persist throughout the forecast period.

Browse over XX market data Figures spread through XX Pages and an in-depth TOC on "Equine Pharmaceuticals & Supplements Market.”

The Global Equine Pharmaceuticals & Supplements Market is segmented into product, distribution channel, regional distribution, and company.

Based on its distribution channel, Drug stores are poised to dominate the Global Equine Pharmaceuticals & Supplements Market in 2022 and are well-positioned to maintain their dominance in the forecast years for several compelling reasons. Firstly, drug stores have a widespread and established presence, offering convenience and accessibility to a broad customer base. This established retail network allows them to efficiently distribute equine pharmaceuticals and supplements to horse owners and trainers globally. Secondly, drug stores often have a reputation for reliability and trustworthiness in the pharmaceutical industry, bolstered by strict adherence to regulatory standards. This trust factor is crucial in a market where the health and well-being of horses are paramount. Additionally, drug stores have the financial resources to invest in research and development, ensuring they can offer a diverse range of products tailored to equine health needs. With their established retail infrastructure, consumer trust, and commitment to product quality, drug stores are well-poised to dominate and sustain their dominance in the Global Equine Pharmaceuticals & Supplements Market in the forecast years.

Based on region, North America is set to dominate the Global Equine Pharmaceuticals & Supplements Market in 2022 due to its well-established equine industry, strong economic stability, and a high level of awareness regarding equine health and welfare. The region benefits from a robust network of equine professionals, including trainers, veterinarians, and horse owners, who prioritize the health and performance of their animals. This has created a substantial market for pharmaceuticals and supplements tailored to equine needs.

Meanwhile, the Asia Pacific region is expected to experience significant growth in the forecast years. The region's emerging economies, such as China and India, are witnessing a rising interest in equestrian sports and leisure activities involving horses. As disposable incomes increase and awareness of equine health grows, the demand for pharmaceuticals and supplements is expected to surge. Consequently, the Asia Pacific region presents immense growth potential, and with effective market penetration strategies, it is likely to become a key player in the Global Equine Pharmaceuticals & Supplements Market in the coming years.

Major companies operating in Global Equine Pharmaceuticals & Supplements Market are:

• Zoetis Inc
• Boehringer Ingelheim GmbH
• Merck & Co Inc
• Elanco Animal Health Inc
• Bayer AG
• Ceva Sante Animale SA
• Virbac SA
• Vetoquinol SA
• Affymetrix Inc
• Celltrion Inc

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“The Global Equine Pharmaceuticals & Supplements Market is entering an era of transformative change, with the key trends reshaping the industry. As the demand for natural supplements, personalized nutrition, and regenerative therapies continues to grow, companies in this sector must stay agile and innovative to meet evolving customer expectations. The latest advancements not only promise improved equine health but also underscore the industry's commitment to the well-being and performance of these magnificent animals,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.

“Equine Pharmaceuticals & Supplements Market By Product (Pharmaceutical, Supplement), By Distribution Channel (Drug Stores, Veterinary Hospitals, Others), By Region, By Competition Forecast & Opportunities, 2018-2028F”, has evaluated the future growth potential of Global Equine Pharmaceuticals & Supplements Market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Equine Pharmaceuticals & Supplements Market.

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