Racehorses are trained for the racing industry. Well-known breeds for
racehorses in the global racehorse industry are Thoroughbred, Arabian
Horse, Quarter Horse, Standardbred, Appaloosa, Andalusian, American
Miniature Horse, and Black Forest. Based upon the breeds, racehorses
possess particular muscle structure and require specific health care
products.
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The racehorse health care products market contribute a significant
percentage to the horse health care products market. The racehorse
health care products market is driven by emergence of horse racing,
increase in trend of equine infections and diseases, diagnosis and
treatment rate of racehorse diseases, and animal health care
infrastructure. However, decrease in global horse population and high
cost of racehorse management is projected to restrain the global
market. Rise in demand for pet insurance is anticipated to present
new opportunities in the racehorse health care products market during
the forecast period.
Based on product type, the global racehorse health care products
market can be segmented into drugs, vaccines, and supplements. In
terms of drug, the market can be classified into anti-infective,
anti-inflammatory, parasiticide, and others. Based on vaccine, the
global racehorse health care products market can be categorized into
inactivated, recombinant, live attenuated, and others. In terms of
supplement, the market can be divided into minerals, vitamins,
enzymes, proteins and amino acids, and others. Based on supplement
type, the global racehorse health care products market can be
bifurcated into natural food supplements and healthy food
supplements. In terms of disease type, the market can be classified
into tetanus, gastric ulcers, equine influenza, equine rabies, equine
herpes virus, equine encephalomyelitis, and others. Based on
distribution channel, the market can be divided into veterinary
hospitals & clinics, retail stores & drug stores, and
others.
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Geographically, the global racehorse health care products market can
be segmented into North America, Europe, Asia Pacific, Latin America,
and Middle East & Africa. North America accounted for the largest
share (16 racehorses per 100,000 population) of the global racehorse
health care products market in 2017. The market in the region is
anticipated to expand at a significant growth rate during the
forecast period, owing to the largest number of racehorses in North
America, thriving horse-race industry, rise in demand for racehorses,
high diagnosis and treatment rate of these animals, and
well-established animal health care infrastructure. The population of
racehorses in Europe varies by region. The population of racehorses
in countries in Western Europe such as the U.K., Germany, and France
is 10 per 100,000 human population. On the other hand, the racehorse
industry is not prominent in Eastern Europe.
Europe held the second largest share of the global racehorse health
care products market in 2017. The market in the region is anticipated
to expand at a high growth rate during the forecast period, owing to
demand for racehorses in Western Europe, increase in number of
racehorse diseases such as gastric ulcers and equine influenza, and
well-established animal health care infrastructure. Latin America
accounted for the third largest share of the global market in 2017,
owing to the racehorse breeding industry in Argentina, trend of
import of Argentine racehorses to the U.S. and the Middle East
racehorse industry, and high prevalence of gastric ulcers and tetanus
in racehorses. Apart from Australia, horse race is not a popular
sport in Asia Pacific. The population of racehorses in Australia is
around 14 per 100,000 human population. The population of racehorses
is around 3 per 100,000 in India and China. Therefore, Asia Pacific
held the fourth largest market share in 2017, followed by Middle East
& Africa, owing to weak racehorse industry and less number of
racehorses in Asia Pacific and the Middle East.
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Key players in the global racehorse health care products market are
Zoetis, Boeringer Ingelheim Vetmedica, Ceva Santé Animale, Eli Lilly
and Company, Purina Animal Nutrition LLC, and Vetoquinol SA, among
others.
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