Global Medicated Feed Market is anticipated to grow at a favorable CAGR between 2018-2023, states the latest Market Research Future (MRFR) report. Medicated feed, simply put, is a mix of animal feed in huge quantities and a veterinary premix, which is a medicinal product having one or sometimes more active substances. This is a method that can be utilized for administering animals with authorized veterinary medicines. Medicated feed complements other administration mediums such as drench, tablet, in-water, or injection. This is an effective means of treating animals in a safe, welfare-friendly, and controlled manner. This feed, when used in the animal diet, works wonders in preventing or treating various diseases such as porcine reproductive & respiratory syndrome (PRRS), circovirus, porcine multi-systematic wasting syndrome (PMWS), and others. Various factors are propelling the medicated feed market growth. Such factors, according to the latest Market Research Future report, include the outbreak of numerous animal diseases, increasing health concerns among cattle owners, increasing expenditure on animal health, rising pet lovers, and increasing incidence of epidemic outbreak in livestock.
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Additional factors propelling the growth of the medicated feed market include industrialization of processed products, increasing awareness concerning the health of livestock, and increasing consumption of dairy products and meat. On the contrary, stringent regulations and different regulatory structures are factors that may deter the medicated feed market growth during the forecast period.
Notable players profiled in the medicated feed market report include Biostadt India Ltd (India), Paul & Vincent (Ireland), Alltech (US), Archer Daniels Midland Co. (US), Lisavaird Co-op. (Ireland), Glanbia Ireland DAC (Ireland), Fane Valley Ltd (UK), Aw Ennis (Ireland), Hubbard Feeds (US), and Cargill, Inc. (the US). Key players have incorporated specific strategies to stay ahead in the competition and also cater to the customers growing needs. These strategies include mergers and acquisitions, research and development activities, joint ventures/partnerships, new product launch, collaborations, and many others.
September 2019: Huvepharma’s Monovet 90 has recently received approval from the FDA for combination usage with other types of drug feed additives in the manufacture of Type C and Type B medicated feeds. This is the first generic monensin to receive FDA approval available to the US goat, dairy, and beef producers. With this, the company is offering livestock producers with a new choice that is cost-effective.
The Market Research Future report provides an all-inclusive segmental analysis of the medicated feed market based on livestock, form, and type.
By type, the medicated feed market is segmented into amino acids, prebiotics, probiotics, antioxidants, and others.
By form, the medicated feed market is segmented into crumbled, pellets, mash, and others.
By livestock, the medicated feed market is segmented into poultry, aquaculture, swine, ruminants, and others.
By region, the Medicated Feed Market report covers the latest trends and growth opportunities across North America, the Asia Pacific, Europe, and the Rest of the World. Of these, the APAC region will dominate the market during the forecast period for the increasing demand for high-quality animal products, a rise in disposable income, and an increase in population. Besides, livestock farming is a key occupation in China and India for dairy, meat, and other forms of milk products, which again is boosting the market growth.
The medicated feed market in Europe will grow at the fastest pace for the scientific and technical progress in the feed industry, growing demand for dairy products and meat, and increasing incidence of chronic diseases. Spain and Italy are the major contributors in the region.
The medicated feed market in North America will have favourable growth during the forecast period for the burgeoning demand for better food as well as other primary products.
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