1 Global Equine Pharmaceuticals and Supplements Market Size (Value) and CAGR (2024-2033)
In 2024, the global Equine Pharmaceuticals and Supplements market was valued at USD 1815.86 million, with a CAGR of 3.5% from 2024 to 2033.
Equine pharmaceuticals can help maintain the health and welfare of horses by addressing their core needs, such as protection against established and emerging diseases, treatment of internal parasites, and management of reproduction. Equine supplements can be broad-spectrum vitamin and mineral supplements, which are aimed at supporting a horse’s continued general wellbeing, while others are formulated to target a specific area – for example, joint supplements, hoof supplements, etc.
Figure Global Equine Pharmaceuticals and Supplements Market Size (M USD) and CAGR 2024-2033
2 Equine Pharmaceuticals and Supplements Market Drivers
Increasing Popularity of Equestrian Sports
The rising interest in equestrian sports such as horse racing, dressage, and show jumping has significantly boosted the demand for equine pharmaceuticals and supplements. These sports require horses to be in peak physical condition, necessitating the use of high-quality health products. The global appeal of events like the World Equestrian Games and the Olympic equestrian competitions has further heightened awareness and investment in equine health.
Technological and Innovation Advancements
Continuous advancements in veterinary medicine and biotechnology have led to the development of more effective and safer pharmaceuticals and supplements. Innovations such as continuous manufacturing processes allow for higher yields, reduced costs, and consistent product quality. Additionally, the integration of artificial intelligence and big data in production and distribution has enhanced efficiency and market reach.
Growing Demand for Natural and Organic Products
There is a rising consumer preference for natural and organic supplements, driven by concerns over the long-term effects of synthetic chemicals. Products derived from natural sources, such as rose hips, kelp, and sea salt, are gaining popularity among horse owners who seek holistic health solutions. This trend is expected to drive the development of new, natural-based formulations.
3 Equine Pharmaceuticals and Supplements Market Restraints
High Barriers to Entry
The equine pharmaceutical industry is characterized by high barriers to entry. New entrants must comply with stringent regulatory requirements, invest heavily in research and development, and secure the necessary approvals for their products. The complexity of manufacturing processes and the need for specialized facilities and skilled labor further exacerbate these challenges.
Intense Market Competition
The market is highly competitive, with established players holding significant market shares. Companies must continuously innovate and improve their products to maintain a competitive edge. The need to invest in marketing, distribution networks, and customer service adds to the operational costs and complexity of doing business in this sector.
Regulatory and Compliance Issues
Equine pharmaceuticals and supplements are subject to rigorous regulatory oversight to ensure safety and efficacy. Compliance with these regulations can be time-consuming and costly, particularly for smaller companies. Changes in regulations can also impact the market dynamics, requiring companies to adapt quickly to avoid disruptions.
4 Global Equine Pharmaceuticals and Supplements Market Size and Share by Type in 2024
Omeprazole paste is a crucial product in the equine pharmaceutical market, primarily used for treating and preventing gastric ulcers in horses. In 2024, the market value for omeprazole paste reached $188.14 million. This segment is expected to grow steadily due to the increasing awareness of gastric health issues in horses and the effectiveness of omeprazole in managing these conditions. Products like GastroGard® and UlcerGard® from Boehringer Ingelheim are leading in this category, offering reliable solutions for horse owners and veterinarians.
Supplements play a vital role in enhancing the overall health and performance of horses. In 2024, the supplements segment accounted for $321.04 million of the total market value. These products include a wide range of nutritional supplements designed to support various aspects of equine health, such as joint health, hoof care, and general well-being. Leading companies in this segment include Alltech, which offers products like McCauley’s® Hydrolyte®, and Purina Animal Nutrition, known for its RepleniMash™ product. The demand for high-quality, natural supplements is growing, driven by consumer preference for holistic health solutions.
Vaccines are essential for preventing infectious diseases in horses, ensuring their health and longevity. The vaccines segment had a market value of $420.19 million in 2024. This segment includes vaccines for diseases such as equine influenza, West Nile Virus, and tetanus. Companies like Zoetis and Merck Animal Health are major players, offering a wide range of vaccines that meet the diverse needs of horse owners and veterinarians. The increasing prevalence of infectious diseases and the need for preventive healthcare are key drivers of this segment’s growth.
Dewormers are critical for controlling internal parasites in horses, which can significantly impact their health and performance. The dewormers segment was valued at $332.66 million in 2024. Products like Quest® and Strongid® C2X from Zoetis are widely used for their effectiveness in managing parasitic infections. The market for dewormers is driven by the continuous need for parasite control and the development of new, more effective formulations.
Table Global Equine Pharmaceuticals and Supplements Market Size and Share by Type in 2024
Type | Market Size (M USD) 2024 | Market Share 2024 |
Omeprazole Paste | 188.14 | 10.36% |
Supplements | 321.04 | 17.68% |
Vaccine | 420.19 | 23.14% |
Dewormers | 332.66 | 18.32% |
Others | 553.82 | 30.50% |
5 Global Equine Pharmaceuticals and Supplements Market Size and Share by Application in 2024
Thoroughbred horses, known for their use in racing and high-performance sports, require specialized pharmaceuticals and supplements to maintain peak health and performance. In 2024, the market value for products targeting Thoroughbred horses reached $679.68 million. This segment is driven by the high stakes and competitive nature of Thoroughbred racing, where even minor health issues can significantly impact performance. Key products include advanced vaccines, high-quality supplements, and specialized medications designed to address the unique needs of these elite athletes.
Not Thoroughbred horses, which include breeds such as Quarter Horses, Standardbreds, and Anglo-Arabians, also require specialized care. In 2024, the market value for products targeting these horses was $1,136.18 million. This segment is broader and includes a wider range of applications, from recreational riding to professional sports. Products in this category include general health supplements, vaccines, dewormers, and specialized medications tailored to the specific needs of these breeds.
Table Global Equine Pharmaceuticals and Supplements Market Size and Share by Application in 2024
Application | Market Size (M USD) 2024 | Market Share 2024 |
Thoroughbred Horse | 679.68 | 37.43% |
Not Thoroughbred Horse | 1136.18 | 62.57% |
6 Global Equine Pharmaceuticals and Supplements Market Size by Region in 2024
North America is a significant market for Equine Pharmaceuticals and Supplements, driven by the high demand for horse care products in the United States and Canada. In 2024, the market value in North America reached $719.18 million. The region’s strong equestrian culture, coupled with advanced veterinary practices and high consumer spending power, contribute to its leading position. Key players in this region include Boehringer Ingelheim, Zoetis, and Purina Animal Nutrition, which offer a wide range of high-quality products.
Europe is another major market, with a strong tradition in equestrian sports and horse care. In 2024, the market value in Europe was $510.38 million. European horse owners and veterinarians are known for their preference for high-quality, natural products, driving the demand for innovative and effective pharmaceuticals and supplements. Companies like Ceva Santé Animale and Merck Animal Health play a significant role in this region, offering products that meet the stringent European regulatory standards.
China’s growing equestrian industry is driving the demand for Equine Pharmaceuticals and Supplements. In 2024, the market value in China reached $92.37 million. The country’s rapid economic growth and increasing interest in horse racing and equestrian sports are creating new opportunities for market expansion. Chinese horse owners are becoming more aware of the importance of horse health, leading to a growing demand for high-quality products.
Figure Global Equine Pharmaceuticals and Supplements Market Size by Region in 2024
7 Major Players in Global Equine Pharmaceuticals and Supplements Market
7.1 Boehringer Ingelheim
Company Profile
Boehringer Ingelheim is a leading research-driven biopharmaceutical company with a long history dating back to 1885. Headquartered in Germany, the company operates globally, with a strong presence in Europe, North America, and Asia. Boehringer Ingelheim is known for its commitment to innovation and high-quality products, serving over 130 markets worldwide.
Business Overview
Boehringer Ingelheim’s business spans three main areas: Human Pharma, Animal Health, and Biopharmaceutical Contract Manufacturing. The company’s Animal Health division is particularly notable for its comprehensive range of equine pharmaceuticals and supplements. Products like GastroGard® and UlcerGard® have become industry standards, widely recognized for their effectiveness in treating and preventing gastric ulcers in horses.
Product Introduction
Boehringer Ingelheim’s equine portfolio includes GastroGard®, an FDA-approved omeprazole paste for treating gastric ulcers, and UlcerGard®, a preventive solution for horses under stress. These products leverage advanced formulations to ensure optimal absorption and efficacy, making them trusted choices for veterinarians and horse owners alike.
Recent Financial Data
In 2024, Boehringer Ingelheim’s equine pharmaceuticals and supplements segment reported a value of $569.05 million.
7.2 Zoetis
Company Profile
Zoetis, established in 1952 and headquartered in the USA, is a global leader in animal health. The company is dedicated to supporting customers and their businesses by delivering high-quality medicines, vaccines, and diagnostic products. Zoetis operates worldwide, leveraging over 65 years of experience in the industry.
Business Overview
Zoetis offers a diverse range of products tailored to meet the specific needs of veterinarians and animal owners. The company’s equine portfolio includes vaccines, dewormers, and sedative analgesics designed to enhance the health and performance of horses. Zoetis is known for its innovative approach and commitment to improving animal health through advanced research and development.
Product Introduction
Key products in Zoetis’s equine portfolio include CORE EQ Innovator™, the first and only vaccine containing all core equine disease antigens in one formulation. Other notable products are Dormosedan®/Equimidine®/Detogesic® for minor surgical procedures and Quest®/Equest®/Equest Pramox® for controlling internal parasites. These products are designed to provide comprehensive health solutions for horses.
Recent Financial Data
In 2024, Zoetis’s equine pharmaceuticals and supplements segment reported a value of $295.17 million.
7.3 Merck Animal Health
Company Profile
Merck Animal Health, established in 1940 and headquartered in the USA, is a global leader in the animal health industry. Known as MSD Animal Health outside the United States and Canada, the company is a subsidiary of Merck & Co. Merck Animal Health is dedicated to developing and producing medicines, vaccines, and biologic therapies for animals.
Business Overview
Merck Animal Health offers a wide range of products designed to improve the health and performance of animals, including horses. The company’s equine portfolio includes products like BANAMINE®, a non-steroidal anti-inflammatory drug, and REGUMATE®, a solution for controlling the reproductive cycle in mares. Merck Animal Health is recognized for its commitment to innovation and high-quality products.
Product Introduction
Merck Animal Health’s equine portfolio includes BANAMINE®, an injectable NSAID for reducing inflammation and pain in horses. Other notable products are DOLOREX® for pain relief and CHORULON®, which contains hCG for promoting follicle maturation and ovulation in mares. These products are designed to address a variety of health needs in horses.
Recent Financial Data
In 2024, Merck Animal Health’s equine pharmaceuticals and supplements segment reported a value of $155.59 million.