Equine Fluid Therapy Market by Technology Advancement, Growth and Forecasts 2028
Equine fluid is hypotonic and contains a higher concentration of potassium. Equine fluids are primarily used as foundations for treatments in equine by medical practitioners. The equine fluid therapy is provided to both adult horses and foals.
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Increasing adoption of pets, especially in developed economies coupled with growing health awareness about pets are major factors driving growth of the global equine fluid therapy market. In addition, increasing incidence of equine infections is another factor anticipated to propel growth of the global market over the forecast period. But, lack of proper veterinary infrastructure, especially in emerging economies coupled with lack of proper skilled medical professionals are major factors hampering growth of the global market.
On the basis of end user, the global equine fluid therapy market is segmented into hospitals, veterinary clinics, diagnostic centers, and others. The veterinary clinics segment is anticipated to witness significant growth over the forecast period, and is expected to register a CAGR . Also, hospitals segment is projected to witness moderate growth over the forecast period.
The global equine fluid therapy market report has been segmented on the basis of route of administration, fluid type, end user, and region. On the basis of region, the global equine fluid therapy market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
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The market in North America accounted for highest share in terms of revenue in the global market, and is projected to maintain its dominance over the forecast period. This can be attributed to presence of proper medical infrastructure in countries in the region. Moreover, high awareness about animal health and rising demand for proper medical treatment for pets are other major factors anticipated to propel growth of the North America market over the forecast period. Revenue from the market in Europe accounted for second-highest revenue share and is closely followed by the markets in Asia Pacific, Latin America, and Middle East & Africa respectively. This is attributed to high disposable income and increasing government initiatives for spreading awareness about animal health in the region. Furthermore, the market in Asia Pacific is projected to witness significant growth over the forecast period, and is expected to register a CAGR. This can be attributed to rising demand for proper medical treatment for pets in emerging economies in the region. Also, the markets in Latin America and Middle East & Africa are projected to witness moderate growth over the forecast period.
Prominent players in the global equine fluid therapy market include MAI Animal Health, Dechra Pharmaceuticals Plc., Zoetis Services LLC, Merck Animal Health, Abbott Laboratories, Luitpold Pharmaceuticals, Inc., Hospira Inc., Vedco Inc., and Muddy & Inca.