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.

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.

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.

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.

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.

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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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Racehorse Health Care Products Market

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