Equine Veterinary Services Market - Forecast(2022 - 2027)

Report Code: HCR 0650 Report Format: PDF + Excel

Equine Veterinary Services Market Overview

Equine Veterinary Services Market size is projected to reach $15,652 million by 2026, growing at a CAGR of 5.1% over 2021-2026. Equine veterinary services are the kind of services that are provided to horses for treatment of diseases and injuries. There are many equine veterinary services that are provided to horses such as vaccination, gynecological care, dental care, gastroscopy, lameness, respiratory care, colic assessment and treatment. Equine veterinarian are also working with the owners of race horses, private breeders, or research facilities in order to manage the well-being of horses. Equine veterinarians helps to provide the diet of horse and are mostly required to work for long hours. More than half of the equine veterinarian are involved with performance horses and other service include farm work, racing work, and reproductive work. With the help of laboratory tests and physical examination of horses, equine veterinarians helps to increase the quality of life for horses. Growing awareness about the health of animal and rising advancement in technology is the major factor driving the growth of Equine Veterinary Services Market. Furthermore, rising hobby of adopting horses among people and growing development in healthcare expenditure is set to further enhance the overall market demand for Equine Veterinary Services Market for the period 2021-2026. 

Report Coverage
The report: “Equine Veterinary Services Market Forecast (2021-2026)”, by Industry ARC, covers an in-depth analysis of the following segments of the Equine Veterinary Services Market.
By Service: Diagnostic Tests and Imaging, Physical Health Monitoring, Surgery, Vaccination and Others. 
By Animal Type: Farm Animal, and Companion Animal.
By Geography: North America (U.S., Canada, Mexico), Europe (U.K, Germany, Italy, France, Spain, Russia, Rest of Europe), Asia Pacific (China, Australia, Japan, South Korea, India, Rest of Asia Pacific), South America (Brazil, Argentina, Others) and Rest of the World (Middle East, Africa).

Key Takeaways
In 2020, North America dominated the Equine Veterinary Services Market owing to rising development in technology for animal care helps in growing the care for horses that further increasing the need of equine veterinary. Moreover, rising availability of animal farm for horses rising the need of equine veterinary services which in turn driving the market growth.
Growing awareness about the health of animal and rising advancement in technology are enhancing the growth of the Equine Veterinary Services Market. 
The prominent manufacturers operating in the market will be provided detailed analysis of Strength, Weakness, and Opportunities in the Equine Veterinary Services Market report.  
Reduction in horse racing is set to create hurdles for the Equine Veterinary Services Market. 

Equine Veterinary Services Market Size, By Animal Type 2020-2026 (USD Mllion)

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Equine Veterinary Services Market Segment Analysis – By Service

The Equine Veterinary Services Market based on Services can be further distributed into Diagnostic Tests and Imaging, Physical Health Monitoring, Surgery, Vaccination and Other. The Diagnostic Tests and Imaging segment is the major segment generating revenue in 2020. This is mainly owing to rising number of diseases among animals that increasing the use of diagnostic tests and imaging as it provides a clear image that helps to find the diseases easily which further helps to treat more quickly. Moreover, rising lameness among horses requires the diagnostic imaging that further enhancing the market growth. The Physical Health Monitoring segment is estimated to register the fastest CAGR of 5.5% for the period 2021-2026. This is mainly owing to the fact that horses are used in various tourist places for travelling that rising the need of physical health monitoring of horses. Moreover, growing race competition of horses also increasing the need of physical health monitoring that further propelling the growth of Equine Veterinary Services Market.  

Equine Veterinary Services Market Segment Analysis – By Animal Type
The Equine Veterinary ServicesMarket based on Animal Type can be further segmented into Farm Animal, and Companion Animal. The Farm Animal segment registers for the highest Equine Veterinary Services Market share in 2020. This is mainly owing to rising need of maintenance in farm as many animals are living in one place so they need proper treatment and care for being healthy that rising the need of equine veterinary in farms. Moreover, rising need of farm animal in various racing competition growing the need of equity veterinary services. The Companion Animal segment is forecasted to register the fastest CAGR of 6.1% over 2021-2026. This is mainly owing to rising hobby of adopting horses husbandry growing the need of proper treatment of animals which in turn propelling the growth of Equine Veterinary Services Market.

Equine Veterinary Services Market Segment Analysis – By Geography
North America dominated the Equine Veterinary Services Market with major share of 45% in 2020. This is owing to rising development in technology for animal care helps in growing the care for horses that further increasing the need of equine veterinary. Moreover, rising availability of animal farm for horses rising the need of equine veterinary services which in turn driving the market growth. According to National Agriculture Statistic Service (NASS), in 2020 about 459,526 horse farms are available in the U.S. where 2,847,289 horses are present that rising the need of equine veterinary services.

However, Asia Pacific is projected to be the growing market during the forecast period 2021-2026 owing to growing healthcare expenditure that rising the availability of treatment for animals. Moreover, rising association for animal health in order to develop the understanding of infectious diseases of animal increasing the need of equity veterinary services.

Equine Veterinary Services Market Drivers

Growing Awareness About the Health of Animal
Rising adoption of horses among people increasing the need of maintenance that growing the awareness for the health of animal is a major factor driving the market growth. Moreover, rising sickness among horses increases the risk among the owners to get infected that needs proper maintenance and treatment for horses. This factor rising the awareness among people for the health of animal which rising the adoption of equine veterinary services and thus enhancing the Equine Veterinary Services Market over the period 2021-2026. 

Rising Advancement in Technology

Rising advancement in technology helps to diagnose diseases and injury in a better way as it helps to provide faster diagnosis, higher treatment success rate and faster recovery time. Rising adoption of MRIs and ultrasound for accurate diagnosis of animals among veterinarians which in turn boosting the growth of Equity Veterinary Services Market over the period 2021-2026.  

Covid-19 Impact: 
COVID-19 pandemic had greatly impacted the growth of Equity Veterinary Services Market. During pandemic, the spread of virus increases the rising the need for the care of animals also. So, equine veterinarian services are mostly used for the proper care of animals which are positively impacted the growth of Equity Veterinary Services Market.   

Equity Veterinary Market Challenges

Reduction in Horse Racing

The factors that is set to impede the growth of the Equine Veterinary Services Market are the reduction of horse racing which is set to restrain the growth of Equine Veterinary Services Market.

Equine Veterinary Services Market Landscape

Product launches, acquisitions, collaboration, joint ventures, and geographical expansions are key strategies adopted by players in the Equine Veterinary Services Market. Equine Veterinary Services top 10 companies are Ethos Veterinary Health, Greencross Limited, Idexx Laboratories, Mars Inc., National Veterinary Care Inc., Patterson Companies Inc., Addison Biological Laboratory Inc., Animart LLC, CVS Group PLC., and Pets at Home Group Plc.

Development
In 2019, Pulse Veterinary Technologies LLC acquired NeoPulse GmbH in order to expand the research and development capabilities in order to provide better serve for veterinary hospitals.

Relevant Reports:
Report Code: FBR 0440

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1. Equine Veterinary Services Market Overview
    1.1 Definitions and Scope
2. Equine Veterinary Services Market Executive Summary
    2.1 Market Size and Key Trends
    2.2 Key trends by Service
    2.3 Key trends by Animal Type
    2.4 Key trends by Geography
3. Equine Veterinary Services Market Landscape
    3.1 Market Share Analysis- Key Companies
    3.2 Product Benchmarking- Key Companies
    3.3 Financial Analysis - Key Companies
    3.4 Patent Analysis
    3.5 Pricing Analysis
4. Equine Veterinary Services Market- Startup companies Scenario Premium
    4.1 Key startup company Analysis by
        4.1.1 Investment
        4.1.2 Revenue
        4.1.3 Application Analysis
        4.1.4 Venture Capital and Funding Scenario
5. Equine Veterinary Services Market- Industry Market Entry Scenario Premium
    5.1 Regulatory Framework Overview
    5.2 New Business and Ease of Doing business index
    5.3 Case Studies of successful ventures
6. Equine Veterinary Services Market Forces
    6.1 Market Drivers
    6.2 Market Constraints/Challenges
    6.3 Porters Five Force Model
        6.3.1 Bargaining Power of Suppliers
        6.3.2 Bargaining Powers of Customers
        6.3.3 Threat of New Entrants
        6.3.4 Rivalry Among Existing Players
        6.3.5 Threat of Substitutes
7. Equine Veterinary Services Market Strategic Analysis
    7.1 Value Chain Analysis
    7.2 Opportunities Analysis
    7.3 Market Life Cycle
8. Equine Veterinary Services Market– By Service (Market Size -$Million/$Billion)
    8.1 Diagnostic Tests and Imaging
    8.2 Physical Health Monitoring
    8.3 Surgery
    8.4 Vaccination
    8.5 Others
9. Equine Veterinary ServicesMarket– By Animal Type (Market Size -$Million/$Billion)
    9.1 Farm Animal
    9.2 Companion Animal
10. Equine Veterinary ServicesMarket- By Geography (Market Size -$Million/$Billion)
    10.1 North America
        10.1.1 U.S.
        10.1.2 Canada
        10.1.3 Mexico
    10.2 Europe
        10.2.1 U.K.
        10.2.2 Germany
        10.2.3 Italy
        10.2.4 France
        10.2.5 Spain
        10.2.6 Russia
        10.2.7 Rest of Europe
    10.3 Asia-Pacific
        10.3.1 China
        10.3.2 Australia
        10.3.3 Japan
        10.3.4 South KoreaText Box: 06
        10.3.5 India
        10.3.6 Rest of Asia-Pacific
    10.4 South America
        10.4.1 Brazil
        10.4.2 Argentina
        10.4.3 Others
    10.5 Rest of the World
        10.5.1 Middle East
        10.5.2 Africa
11. Equine Veterinary Services Market Entropy
12. Equine Veterinary Services Market- Industry / Segment Competition landscape Premium
    12.1 Market Share Analysis
        12.1.1 Market Share by Country- Key companies
        12.1.2 Market Share by Region- Key companies
        12.1.3 Market Share at Global Level- Key companies
        12.1.4 Competition Matrix
        12.1.5 Best Practices for Companies
13. Equine Veterinary ServicesMarket- Key Company List by Country Premium
14. Equine Veterinary ServicesMarket Company Analysis
    14.1 Company Revenue, Products, M&A, Developments
    14.2 Company 1
    14.3 Company 2
    14.4 Company 3
    14.5 Company 4
    14.6 Company 5
    14.7 Company 6
    14.8 Company 7
    14.9 Company 8
    14.10Company 9
    14.11Company 10
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