Equine healthcare market to reach $1.5B by 2026
by Katie Pfaff
The global market for equine healthcare is expected to increase to $1.57 billion by 2026, according to a report by Research and Markets, which provides market insights and analysis around the world. The company estimated the 2021 value of the market at $1.17 billion, with an increase to $1.26 billion in 2022. The increase to 2026 is anticipated at a Compound Annual Growth Rate (CAGR) of 5.6%, according to a news release.
Market growth is based in part on growing interest and investment in animal healthcare, bolstered by government and other organizations expanding healthcare and research to safeguard human health. As an example, in September 2021, the U.S. Department of Agriculture announced an investment of $3 billion in animal health and nutrition. In October 2022, the University of Kentucky began construction on a new center for aged horse research with support from Linda Mars, philanthropist and an avid horsewoman.
New and impactful technology and products have also led to growth in the market. Key players in the market are focusing on products that provide rapid disease detection, according to the report. For instance, in June 2021, Epona Biotec, a veterinary startup dedicated to advancing equine health care, launched the VetTrue System, a remote temperature-monitoring system for horses.
The largest region in the 2021 forecast was North America. Other regions covered in the report include Asia-Pacific, Western and Eastern Europe, North and South America, the Middle East and Africa.
Learn more about the report on Research and Markets’ website.
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