Global Monensin Market is expected to grow at an accelerated pace on account of the rising prevalence of coccidiosis. The above information was provided by Fortune Business Insights in a report, titled “Monensin Market Size, Share 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 the 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.
Some of the major companies that are present in the Global Monensin Market are
- Bio Agri Mix
- Merck KGaA, Darmstadt, Germany
- BioLegend Inc.
- Cayman Chemical
- Santa Cruz Biotechnology Inc.
Hubbard Feeds Inc.
Hi-Pro Feeds LP, and other players.
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, the 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 the 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.
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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.
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