The global monensin market is expected to grow at an accelerated pace on account of rising prevalence of coccidiosis. The above information was provided by Fortune Business Insights in a report, titled “Monensin Market” size and Global Trend By Animal (Poultry, Cattle), Therapeutic Class (Antibacterial, Antiprotozoal, Antifungal), Application (Coccidiosis Prevention, Growth Promotion, Feed Efficiency Improvement) and Geography Forecast till 2026.” Monensin is an antibiotic used in animal feed to prevent the occurrence of coccidiosis. Monensin is extensively used in beef and dairy industries. It helps to prevent infections in the intestinal mucosa of animals.
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North America Shows Impressive Growth Owing to the Presence of Local Manufacturers
From a geographical standpoint, North America is expected to remain strong in the global monensin market. The growth in this region is primarily attributable to a large number of local manufacturers. The report offers key insights to companies interested in this industry. In addition to this, monensin helps to prevent coccidiosis especially in calves.
The market in Asia Pacific and Europe is expected to show considerable growth during the forecast period between 2018 and 2026. The rising cattle production and ample help from governments for animal health are factors expected to create opportunities in the market by 2026.
Rising Concerns Regarding Animal Feed to Favor Market’s Expansion
“Growing attention for the best animal nourishment and feed is the need of the hour,” said a lead analyst at Fortune Business Insights. “This, coupled with rising governments support regarding investments, is expected to drive the monensin market,” she added. In addition to this, rising number of beef and dairy industries across the globe is likely to fuel demand for monensin drugs.
Monensin antibiotics are used to treat fungal, parasitic, and bacterial infections in animals. The drug is also expected to suppress tumor growth without any adverse effects on intestinal mucosa. As per research studies, monensin capsules aid in the prevention of ketonemia, especially in lactating cattle. This capsule has led to the reduction of subclinical ketosis and other illnesses. All the above mentioned benefits are likely to be potential growth enablers for the market.
Contrary to this, some adverse effects of monensin may hamper the growth of the market. Harmful chemical reactions after the administration of monensin drugs in horses are likely to restrict the market’s growth. Horses are sensitive to monensin and its uptake can lead to severe illness. These factors are expected to post a serious threat to the market in the forecast years.
Highlights of the Report:
- In-depth analysis of various insights, namely, Monensin Market trends, growth drivers, opportunities, and other related challenges.
- Comprehensive details of key market players, their core competencies, and Monensin Market share.
- The potency of suppliers and buyers to make better business decisions.
- Lists out the market size in terms of volume.
Key Players Operating in The Monensin Market Include:
Key players are involved in mergers and acquisition to strengthen their market position. Owing to increasing competition frequent innovations are taking place in the market. Some of the companies operating the industry are:
- Ceva, Hi-Pro Feeds LP,
- Elanco, Merck KGaA,
- Bio Agri Mix,
- Cayman Chemical,
- BioLegend Inc.,
- Hubbard Feeds Inc.,
- Santa Cruz Biotechnology Inc.
Recent Mergers and Acquisitions (M&A) Among Companies to Aid Expansion
Huvepharma announced the acquisition of CORID trademark from Merial, Inc. in April 2017. The company uses CORID as an additional nutrient to the cattle, helping them to avoid the risk of coccidial infection. This addition will further strengthen the company’s product portfolio. Other companies are also planning to involve in M&A activities in order to help cattle better and at the right time. Some of the leading players operating in the global monensin market are Ceva, Hi-Pro Feeds LP, Elanco, Merck KGaA, Bio Agri Mix, Huvepharma, Cayman Chemical, BioLegend Inc., Hubbard Feeds Inc., and Santa Cruz Biotechnology Inc. Some of the other acquisitions made by Huvepharma are:
Huvepharma announced the acquisition of Neovia’s animal health business from InVivo Group. The acquisition was made in September 2018 with an aim to expand the former’s animal health product stock.
Several other initiatives are anticipated to encourage companies’ investment in monensin market. For instance, Canadian Food Inspection Agency suggested changes and revised the Monensin-medicating ingredient brochure in March 2019. This ingredient will be used for poultry animals to prevent them any upcoming infections.
Segmentation of the Global Monensin Market
By Therapeutic Class
- Coccidiosis Prevention
- Growth Promotion
- Feed Efficiency Improvement
- North America (USA and Canada)
- Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
- Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
- Latin America (Brazil, Mexico and Rest of Latin America)
- Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)
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Reasons to Purchase this Report:
- Comprehensive analysis of the Monensin Market growth drivers, obstacles, opportunities, and other related challenges.
- Tracks the developments, such as new product launches, agreements, mergers and acquisitions, geographical expansions, and joint ventures.
- Identifies market restraints and boosters.
- Identifies all the possible segments present in the market to aid organizations in strategic business planning.
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