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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