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Equine Veterinary Services Market: Overview

Global equine veterinary market is observed to be a multi-billion dollar industry that consists of various equine activities such as horse racing, competitive riding and leisure. Thus, various veterinary services that supplement the growth of this market are vaccination, gynecological care, dental care, gastroscopy, lameness, respiratory care, colic assessment and treatment.

The vaccination regime of horses is integral part of equine health against various clinical conditions like equine influenza, tetanus, strangles, ringworm, EHV (Equine Herpes Virus), EVA (Equine Viral Arteries) and West Nile Virus (WNV). Dental care services include the routine dental examinations and rasping service for horses, some of the complex problems are also diagnosed with an X-ray.

The gynecological care comprises routine sampling of CEM (Contagious Equine Metritis) and EVA testing , fertility check accompanied with hysteroscopies, artificial insemination, pregnancy diagnosis, pregnancy follow-up, assistance during foal birth and umbilical scanning, bloodsampling  for IgG estimation in newborn foal health management. Gastroscopy consists of use of 3 meter videoscope for diagnosis of gastric ulcers. Lameness is one of the most common cause that affects limbs of horses and is diagnosed with digital X-rays, ultrasound and thermal scans. Respiratory care includes services related with tracheal washing and broncho-alveolar-lavage.

Equine Veterinary Services Market: Region-wise Outlook

The veterinary services provided in market by major breeding farms and equine veterinary hospitals. This is a very specialized sector and is limited to equine species healthcare management hence, overall it’s considered to be a premium sector because of the specific requirements. The major market shift is estimated to be observed in coming five years where due to economic downturn in Europe has forced the market to export the horses to slaughterhouses or to Asian countries as there is significant potential for horse racing and showcase in China. This is perceived to affect the North American and European global market share in equine veterinary market as the Asia-Pacific market is observed to be growing in case of horse population.

As a constituent of Asia-Pacific, Australian equine market was observed to rank among the top three regional equestrian and equine veterinary services markets. After the European downturn and legal hindrances in North American market Australia turned out to be among the leading ‘horse producing / breeding’ countries in the world. On the same basis, China was perceive to expand its investing and capacity in horse racing and betting by importing quality breeds from countries especially from European region.

Thus, China intends to maintain particularly race-horse breeds; as race-horses require additional care and supervision thus equine veterinary services market is expected to grow significantly. According to a equine industry source, China is mounting the capacity and investing in horse racing and betting by importing quality breeds from North American and European countries. The equestrian racing infrastructure development comprises of horse race-tracks developed with an investment of approximately USD 2.0 billion with about 3,000 horses. Investment also comprises the cost of s developing trainers and riders in particular equine training schools.

Equine Veterinary Services Market: Key Segments and Players

The major products observed in the industry are in-house diagnostics, reference laboratories, digital imaging and others. The in-house diagnostics segment is expected to account for the largest share in the global equine veterinary services market. Some of the key players having presence in the global equine veterinary services market are IDEXX Laboratories, Inc., Medical Management International, National Veterinary Associates and VCA Antech, Inc.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Equine Veterinary Services Market