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 Regional Forecast, 2024-2032
KEY MARKET INSIGHTS
Coccidiosis is a type of parasitic infection caused by protozoa belonging to the genera Eimeria or Isospora. Coccidiosis usually results in infection in the intestinal mucosa of the animal and can spread from infected animal to another through contact with the infected faeces or by uptake of infected tissue. Monensin, a polyether antibiotic obtained from Streptomyces cinnamonensis is extensively used in the animal feed to prevent coccidiosis. Monensin has a wide application in the dairy and beef industries.
Monensin is also added to the animal feed the improve the efficiency of the feed and faster growth of the cattle. The gradual upsurge in the meat and dairy industries have also resulted in increased demand for monensin additive. Since cattle industry has a major contribution in the growth of many economies in the world, there is active government support to maintain animal health by establishing government funded veterinary centres, feed testing facilities, awareness programs and others.
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The growth in global monensin market is being driven by the rising concern on animal feed and nourishment, increased government support for animal health and rising prevalence of coccidiosis. Furthermore, the rise in number of beef and dairy industries across the world is anticipated to fuel the global monensin market during the projected period.
However, the harmful chemical property of monensin and the risk of serious illness in horses due to the uptake of monensin as horses are very sensitive to monensin are the major factors that are expected to restrain the growth in global monensin market.
Key Players Covered
Some of the major companies that are present in the global monensin market are Elanco, Ceva, Bio Agri Mix, Merck KGaA, Huvepharma, BioLegend Inc., Cayman Chemical, Santa Cruz Biotechnology Inc., Hubbard Feeds Inc., Hi-Pro Feeds LP, and other players.
SEGMENTATION
SEGMENTATION | DETAILS |
By Animal | · Poultry · Cattle |
By Therapeutic Class | · Antibacterial · Antiprotozoal · Antifungal |
By Application | · Coccidiosis Prevention · Growth Promotion · Feed Efficiency Improvement |
By Geography | · 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) |
In terms of application, coccidiosis prevention segment is likely to dominate the global monensin market in the anticipated period, primary reasons being the rising incidences of outbreak of coccidiosis infection and increased use of monensin.
Key Insights
- Regulatory scenario for key countries
- Pipeline Analysis
- Recent industry developments such as partnerships, mergers, and acquisitions
Regional Analysis
The global monensin market has been segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa. The growth in monensin market in North America is likely to propel in the forecast duration owing to the presence of local manufacturers and rising incidences of coccidiosis. In Europe and Asia Pacific, the monensin market is anticipated to register a significant growth by 2025, due to the rise in cattle population in these regions and government aids granted for animal health.
Key Industry Developments
- In September 2018, Huvepharma acquired the animal health business of Neovia from InVivo Group, to expand the livestock animal health products.
- In March 2019, Canadian Food Inspection Agency revised the Monensin-medicating ingredient brochure, to be used for poultry animals.
- In April 2017, Huvepharma acquired CORID trademark from Merial, Inc., which is now a part of Boehringer Ingelheim International GmbH. CORID is added to cattle feed to prevent coccidial infection, and the addition of CORID to the company’s product portfolio will complement their feed additive strategy.
- Ongoing
- 2023
- 2019-2022
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