Equine Veterinary Services Market By Service type (Vaccination, Diagnosis, Gynaecological, Dental, Surgery, & Physical health monitoring), By Animal (Farm Animal & Companion Animal), By Distribution channel (Veterinary Hospitals & Clinics & Pharmacies), By Geography - Global Opportunity Analysis & Industry Forecast, 2022-2027

Report Code: HCR 0650 Report Format: PDF + Excel

Equine Veterinary Services Market Overview

Equine Veterinary Services Market Size is estimated to reach $15.9 billion by 2027. Furthermore, it is poised to grow at a CAGR of 5.2% over the forecast period of 2022-2027. Equine veterinarians are veterinarians that specialize in horse care. Equine veterinarian services include immunization, gynecological care, dental care, gastroscopy, lameness, respiratory care, colic assessment, and treatment. In Immunization, Equine influenza, tetanus, strangles, ringworm, EHV (Equine Herpes Virus), EVA (Equine Viral Arteries), and West Nile Virus are just a few of the clinical problems that horses are vaccinated against (WNV). Routine dental examinations and rasping for horses are included in the dental care services, and some complex disorders are also detected using an X-ray.

Routine CEM (Contagious Equine Metritis) and EVA testing, fertility checks with hysteroscopies, artificial insemination, pregnancy diagnosis, pregnancy follow-up, assistance during foal birth and umbilical scanning, and blood sampling for IgG estimation in newborn foal health management are all part of the gynecological care. Gastroscopy is a procedure that involves the use of a 3-meter video scope to diagnose gastric ulcers. Lameness is one of the most common conditions that affect a horse's limbs. The Equine Veterinary Services Market is driving owing to expanding horse farms and advancements in animal care technology.

Report Coverage

The report: “Equine Veterinary Services Market Forecast (2022-2027)", by Industry ARC covers an in-depth analysis of the following segments of the Equine Veterinary Services Market.

By Service type- Vaccination, Diagnosis, Gynaecological, Dental, Surgery, and Physical health monitoring.
By Animal- Farm Animal and Companion Animal.
By Distribution channel- Veterinary Hospitals and Clinics and Pharmacies.
By Geography- North America (U.S., Canada, Mexico), Europe (Germany, United Kingdom (U.K.), France, Italy, Spain, Russia, and the Rest of Europe), Asia Pacific (China, Japan India, South Korea, Australia, and New Zealand, and Rest of Asia Pacific), South America (Brazil, Argentina, Chile, Colombia, and Rest of South America), and Rest of the World (the Middle East, and Africa).

Key Takeaways

  • Geographically, North America held a dominant market share in the year 2021 on account of boosting technological advancements in gynecological care and dental care, which is propelling the industry forward. Asia-Pacific is anticipated to offer lucrative growth opportunities to the manufacturers owing to increasing technologies for horse care. The rising animal farms are predicted to augment the market growth during the forecast period of 2022-2027.
  • Growing horse farms and technologies for animal care are estimated to drive the market growth of the Equine Veterinary Services Market. A decrease in the demand for horse racing is estimated to present challenges for Equine Veterinary Services and poses threat to the Market growth.
  • A detailed analysis of strengths, weaknesses, opportunities, and threats will be provided in the Equine Veterinary Services Market Report.

Equine Veterinary Services Market: Market Share (%) by region, 2021

Equine Veterinary Services Market

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Equine Veterinary Services Market Segmentation Analysis- By Service Type

Equine Veterinary Services Market based on Service Type can be further segmented into Vaccination, Diagnosis, Gynaecological, Dental, Surgery, and Physical health monitoring. Diagnosis segment held a dominant market share in the year 2021 and is estimated to be the fastest-growing, with a CAGR of 6.8% over the forecast period of 2022-2027. Equine diagnostic services are lab testing services provided to equine patients in hospitals, clinics, private labs, and on farms through equine field service. In both healthy and sick horses, tests such as genetic testing and infectious disease testing are frequently advised. According to NCBI, in 2003, Most nations have a national laboratory that tests for Foreign Animal diseases (FAD) and supports disease eradication and control efforts at the national level. The diagnosis service is mostly owing to an increase in the number of diseases among animals, which require the use of diagnostic tests and imaging since it produces a clear image that aids in the detection of diseases, which in turn aids in the treatment of diseases more rapidly. Furthermore, increased lameness among horses necessitates diagnostic imaging, which boosts market growth.

Equine Veterinary Services Market Segmentation Analysis- By Animal

Equine Veterinary Services Market based on the animal segment can be further segmented into Farm Animal, and Companion Animal. Farm animal held a dominant market share in the year 2021 and is estimated to be the fastest-growing, with a CAGR of 6.6% over the forecast period of 2022-2027. This is primarily owing to the increasing requirement for farm upkeep. since many animals are living in one location and require adequate treatment and care to be healthy, necessitating the use of equine veterinary services on farms. Moreover, the increased need for farm animals in various racing competitions is increasing the demand for equitable veterinarian services thereby Market for Farm equines is increasing. 

Equine Veterinary Services Market Segmentation Analysis- By Geography

The Equine Veterinary Services Market based on Geography can be further segmented into North America, Europe, Asia-Pacific, South America, and the Rest of the World. North America held a dominant market share of 37% in the year 2021 as compared to its other counterparts on account of boosting technological advancements in gynecological care and dental care.

However, Asia-Pacific is estimated to be the fastest-growing over the forecast period of 2022-2027 on account of escalating healthcare costs, the availability of animal treatment is increasing. Furthermore, the need for equitable veterinary care is growing as the association for animal health grows in order to obtain a better understanding of animal infectious illnesses. Hence, the Market for equine veterinarian services in the North American region is increasing.

Equine Veterinary Services Market Drivers

The Growing Recognition and Importance of Animal Health are Boosting the Market Growth

According to the Animal Health Institute (AHI), Animal health manufacturers are investing an average of 8.5% of sales in R&D, 2.5 times that of the overall U.S. manufacturing average of 3.4%. A major element driving market expansion is the increased acceptance of horses among humans, which increases the demand for upkeep and raises knowledge about animal health. Furthermore, increased horse disease increases the risk of infection among owners, necessitating careful horse care and treatment. This aspect is increasing public knowledge about animal health, which is driving up the adoption of equine veterinarian services and thereby boosting the Equine Veterinary Services Market.

Technological Advancements are Driving Market Growth

Rising technological advancements aid in the better diagnosis of diseases and injuries by allowing for faster diagnosis, higher treatment success rates, and faster recovery times. For instance, One Health Group, specializing in remote medical diagnostics for animal health has invested around $1.5 million in 2021 led by Pureland Group for its remote health monitoring technology, supporting animal health. Veterinarians are increasingly using MRIs and ultrasonography to accurately diagnose animals, which is fueling the expansion of the Equity Veterinary Services Market. Additionally, At the molecular level, humans and horses have a lot in common, which could reveal a lot about how the interaction of various chemicals in the body affects both normal and aberrant cell activity. Hence, advancement in technologies for equine health care Is gradually increasing further driving the Market for Equine Veterinary Services.

Equine Veterinary Services Market Challenges

A decrease in the Demand for Horse Racing pose threat to market growth

In 2020, the horse racing sector was valued at three billion dollars, a decline of more than five billion dollars from prior years. Additionally, horse racing saw a 3% fall in polls from 1985 to 2015, and the sport has continued to diminish over the last two decades. The horse racing industry is in the throes of a financial meltdown. COVID-19 struck after the media and animal rights groups had beaten it down. Moreover, owing to race-day corruption, many people have lost interest in this sport. The decline of horse racing, which is projected to constrain the expansion of the Equine Veterinary Services Market, is one of the factors that is set to obstruct the market's growth.

Equine Veterinary Services Industry Outlook

Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Equine Veterinary Services Market. The top 10- Equine Veterinary Services Market companies are-

  1. Animart LLC
  2. CVS Group plc
  3. Lexagene
  4. Ethos Veterinary Health
  5. Greencross Limited
  6. IDEXX Laboratories, Inc.
  7. CVS Group
  8. National Veterinary Care Ltd
  9. Pulse Veterinary Technologies LLC.
  10. Pets at Home Group Plc.

Recent Developments

  • In July 2021, CVS Group, one of the leading integrated veterinary services is expanding the presence of its Equine Division in Wales. The company has created new equine veterinary practice, South Wales Equine Vets. CVS Group has had three practices offering equine veterinary services in the region.
  • In June 2021, Lexagene a molecular diagnostics firm that offers fully automated quick pathogen detection systems is thrilled to announce a collaboration with Ethos Discovery to enhance the MiQLabTM System's test menu offerings. The MiQLabTM Bacterial and AMR Test, LexaGene's first validated panel, was created primarily to aid in the identification of urinary tract infections (UTI), one of the most prevalent causes of veterinary visits in companion animals. This panel detects 94% of pathogens that cause UTIs in cats and dogs, as well as 13 different antimicrobial resistance targets that can help determine the best treatment options.
  • In January 2021, Pulse Veterinary Technologies LLC is a non-invasive medical device developer and marketer for the veterinary industry. Pulse Veterinary's main technology is the VersaTron® series of products for the treatment of musculoskeletal diseases in animals that cause chronic pain and lameness. The VersaTron® generates a high-energy acoustic pressure wave that helps soft tissue injuries and arthritic joints heal faster.

Relevant Titles

Veterinary Laboratory Testing Services Market - Forecast(2022 - 2027)

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Veterinary Diagnostics Market - Forecast(2022 - 2027)

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Veterinary Vaccines Market - Forecast(2022 - 2027)

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1. Equine Veterinary Services Market - Overview
    1.1 Definitions and Scope
2. Equine Veterinary Services Market - Executive Summary
3. Equine Veterinary Services Market - Comparative Analysis
    3.1 Company Benchmarking - Key Companies
    3.2 Global Financial Analysis - Key Companies
    3.3 Market Share 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 Venture Capital and Funding Scenario
5. Equine Veterinary Services Market – Industry Market Entry Scenario Premium 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 Type
    8.1 Vaccination
    8.2 Diagnosis
    8.3 Gynecological
    8.4 Dental
    8.5 Surgery
    8.6 Physical health monitoring
9. Equine Veterinary Services Market – By Animal
    9.1 Farm animal
    9.2 Companion animal
10. Equine Veterinary Services Market – By Distribution Channel
    10.1 Veterinary Hospitals and Clinics
        10.1.1 Primary hospital
        10.1.2 Secondary hospital
        10.1.3 Tertiary hospital
    10.2 Pharmacies
        10.2.1 Hospital pharmacies
        10.2.2 Retail pharmacies
        10.2.3 Drug stores
11. Equine Veterinary Services Market - By Geography
    11.1 North America
        11.1.1 U.S.
        11.1.2 Canada
        11.1.3 Mexico
    11.2 Europe
        11.2.1 U.K.
        11.2.2 Germany
        11.2.3 France
        11.2.4 Italy
        11.2.5 Spain
        11.2.6 Russia
        11.2.7 Rest of Europe
    11.3 Asia-Pacific
        11.3.1 China
        11.3.2 India
        11.3.3 Japan
        11.3.4 South Korea
        11.3.5 Australia & New Zealand
        11.3.6 Rest of Asia-Pacific
    11.4 South America
        11.4.1 Brazil
        11.4.2 Argentina
        11.4.3 Chile
        11.4.4 Colombia
        11.4.5 Rest of South America
    11.5 Rest of the World
        11.5.1 Middle East
        11.5.2 Africa
12. Equine Veterinary Services Market - Entropy
13. Equine Veterinary Services Market – Industry/Segment Competition Landscape Premium 
    13.1 Market Share Analysis
        13.1.1 Global Market Share – Key Companies
        13.1.2 Market Share by Region – Key companies
        13.1.3 Market Share by Countries – Key Companies
    13.2 Competition Matrix
    13.3 Best Practices for Companies
14. Equine Veterinary Services Market – Key Company List by Country Premium Premium
15. Equine Veterinary Services Market - Company Analysis
    15.1 Company 1
    15.2 Company 2
    15.3 Company 3
    15.4 Company 4
    15.5 Company 5
    15.6 Company 6
    15.7 Company 7
    15.8 Company 8
    15.9 Company 9
    15.10 Company 10
"*Financials for private companies would be provided on a best efforts basis”.
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
"*Financials for private companies would be provided on a best efforts basis”.