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In April 2019, Boehringer Ingelheim launched Arti-Cell Forte in Europe, a stem cell therapy medicine to treat moderate recurrent lameness in horses. Equines, which mainly refer to animals such as horse and other animals of the horse family, is one of the most common pets worldwide and is also utilized in several other applications. Some of the applications that equines have been used include agriculture, transport, sports such as racing & polo, warfare, therapeutic uses such as hippotherapy, entertainment and culture and the rise in their adoption is projected to be equine health market driver.
Equine health care is also considered to be a crucial factor in the prevention of the transmission of the equine infectious diseases, which can have negative impacts on the racing industry, the owners of horses as pets and also agriculture. Equine diseases are also a negative constraint to sustained agricultural development and food security and can disrupt the economic benefits of international trade in livestock commodities.
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The global equine health market growth is anticipated to be driven due to a number of factors such as the increasing demand for equine animals, increasing prevalence of zoonotic diseases, greater awareness of equine health, presence and popularity of competitive sports such as horse racing and increasing government initiatives. According to the United States Department of Agriculture (USDA), in 2017, 80 positive horses were diagnosed with equine infectious anemia (EIA) compared to 2016 statistics of 52 positive horses being diagnosed with the disorder.
Conversely, the factors anticipated to limit the global equine health market growth are the decreasing numbers of equine animals and the rising costs of animal healthcare, which includes equine health care.
Some of the major companies included in the global equine health market report are Boehringer Ingelheim International GmbH, Bayer AG, Elanco, Intervet Inc., Purina Animal Nutrition LLC, Equine Products UK LTD, Zoetis, Vetoquinol S.A. and other players.
By Product Type
By Disease Type
By Distribution Channel
According to the present equine health market trend, the drugs segment among product types is anticipated to hold a major portion in the equine health market share during the projected years owing to the rise in the prevalence of equine diseases.
The global equine health market segmentation includes North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is projected to lead the global equine health market followed by Europe due to several factors such as the rising adoption of horses as pets, increasing prevalence of equine diseases especially infectious diseases, increasing expenditure on equine health, growing pool of veterinarians and a large number of hospitals & clinics. The countries of the Asia Pacific and Latin America are anticipated to be the fastest emerging market due to large livestock animal pool, increasing incidences of equine disorders, increasing awareness of animal welfare, increasing dependency on livestock. The Middle East and Africa are expected to hold a lower share in the equine health market.
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