The United States equine serum for therapy market was valued at US$ 14,818 Thousands in 2020 and is projected to grow at a CAGR of 3.2% over the forecast period. Increasing demand for protection of livestock using equine serum-based vaccines is expected to drive the growth of the United States equine serum for therapy market in the coming years. Farm owners are increasingly looking towards the vaccination of livestock to protect the herd against diseases. Anthrax, for instance, is a deadly disease that is caused by Bacillus anthracis, and is highly virulent. Once the microorganism reaches the body, it multiplies quickly, and a fatal infection is caused in the blood stream. The disease is common in cattle, but can also affect animals like sheep, horses and goats. Colorado Serum Company’s Anthrax Spore Vaccine, for instance, is prepared using a non-pathogenic strain of Bacillus anthracis. Sterne Strain 34F2 is the vaccine strain present in this product. The product needs to be administered in a dose of 1 ml subcutaneously, and revaccination is recommended in highly contaminated areas. In normal cases, annual vaccination is recommended. Equine-based products to help in preventing the spread of diseases in livestock is gaining traction in the U.S., which in turn is leading to the growth of the equine serum for therapy market.
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The market is expected to evolve considerably in the coming years. Advancement in serum processing technology, coupled with the growth in equine serum-based antitoxins in the U.S. will help the market participants find new users in the future. As far as the micro economic factors are concerned, awareness about equine serum-based products for therapy, coupled with the availability of highly skilled workers for the manufacturing and development of these vaccines plays a crucial role in the growth of the United States equine serum for therapy market. Collaboration with government bodies to provide equine serum-based vaccines can help in providing a constant flow of revenue for the market participants. The companies can partner with state or district level animal healthcare centres for facilitating the administration of vaccines.
West Nile Antibody to Grow at the Fastest Rate over the Forecast Period (2021 – 2029)
Studies show that the common illness which are transmitted amongst animal species in the U.S. include H1N1, anthrax, and West Nile virus, amongst others. The population of livestock is expected to see considerable growth in the coming years, and the livestock owners are increasingly relying on vaccines to prevent the spread of the virus. This presents additional growth opportunities for the market participants in the United States equine serum for therapy market. Furthermore, companies are developing Clostridium perfringens Types B, C and D using equine serum. The vaccine product developed by Colorado Serum Company has been found to be effective when used in healthy cattle, goats and sheep to protect them from Clostridium perfringens Types B, C and D.
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Indirect Channels of Distribution to Upsurge over the Forecast Period (2021 – 2029)
Indirect distribution channels are expected to show the highest growth during the forecast years in the United States equine serum for therapy market. Market participants are increasingly relying on online sales channels for reaching the end-users in the U.S. The flexibility provided by online sales channels in reaching the clients directly, coupled with option to pick and choose equine-based serum products with a click of a button is encouraging the companies to utilize these channels. Moreover, the pandemic has accelerated the growth of online sales channels, as the companies relied on these channels for reaching customers when social distancing norms were enforced in the country. Colorado Serum Company, for instance, has developed an online channel through their own website for product sales.
South Region dominated the Market in the United States in 2020
South region in the United States equine serum for therapy market held the highest share in 2020. The fatal West Nile virus is largely prevalent across several South and Central regions of the country. The presence of a large number of livestock owners in the Southern region, along with the presence of horse owners that are providing equine serum, is a major reason for the higher share of South in the United States equine serum for therapy market.
Some of the players operating in the United States equine serum for therapy market are Colorado Serum Company, MG Biologics, and Boehringer Ingelheim amongst other industry participants.
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United States Equine Serum for Therapy Market:
- By Offering:
- Tetanus Toxoid
- Tetanus Toxoid Concentrated
- Tetanus Toxoid Unconcentrated
- Tetanus Antitoxin
- Anthrax Vaccine
- Normal Serum (Equine Origin)
- West Nile Antibody
- Clostridium Perfringens Types C&D Antitoxin
- Others
- By End Users:
- Livestock Owners
- Veterinarians
- By Distribution Channel:
- Direct
- Indirect
- By Region
- Northeast
- West
- South
- Midwest
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