Equine has been used since long for transportation, warfare and farming purposes. Today, they are used as police horses, recreation, racing and entertainment. Horse serum is also used to develop a variety of vaccines and antitoxins to treat several infectious diseases including botulism, rabies, diphtheria and infection from H5N1 influenza. Equine industry has greater economic effect in countries like United States, Australia and New Zealand as they generate huge amount of revenue. American Horse Council reveals that at present there are 9.2 million horses across the nation involving approximately 4.6 million people as horse owners, care takers, employees and volunteers.
According to the council, this industry has direct impact on the economy of USD 39 billion and if other factors such as suppliers, spending by spectators will be taken into account, it may exceed USD 102 billion. As per European Horse Network, the industry has an impact of around USD 133 billion on the economy of Europe in a year. In these countries horse racing is a full-fledged business. People are willing to spend high amount for treating equine as they bet significant amount of money on horse racing.
The common diseases affecting equines health are equine infectious anemia, equine viral arteritis, equine herpes virus and contagious equine metritis. The market is segmented into drugs & vaccines and equine feeds market. Purina. A wholly owned subsidiary of Nestle and Nutrena, headquartered in Minneapolis are the market leaders in equine feed market. Other players operating in this space are Elanco Animal Health, Merck Animal Health, Boehringer Ingelheim Vetmedica, AHD Ltd., Equine health UK, Equine Healthcare International and Schering-Plough Animal Health. Some of the commercially available drugs are Prascend by Boehringer Ingelheim Vetmedica to treat equine Cushing’s disease and Banamine Paste marketed by Schering-Plough Animal Health for treating pain and inflammation in horses.
Geographically, North America and Europe are leading the market followed by Asia-Pacific. Australia and New Zealand are the major markets in Asia-Pacific. In India, the market is very small compared to global market owing to the fact that a large proportion of horses are used here for transportation and agriculture work while in North America and Europe major proportion are used in racing and recreation.
This research report analyzes this market depending on its market segments, major geographies, and current market trends. Geographies analyzed under this research report include
- North America
- Asia Pacific
- Europe
- Rest of the World
This report provides comprehensive analysis of
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years
This report is a complete study of current trends in the market, industry growth drivers, and restraints. It provides market projections for the coming years. It includes analysis of recent developments in technology, Porter’s five force model analysis and detailed profiles of top industry players. The report also includes a review of micro and macro factors essential for the existing market players and new entrants along with detailed value chain analysis.
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