About Medicinal Feed Additives
Medicinal feed additives contain veterinary medicines and other nutritive supplements and are added to animal feed. Consumers and animal farmers use these products as an effective way to administer medicines to animals. These products comprise of essential vitamins, minerals, trace elements, anti-oxidants, antibiotics, vaccines, preservatives, and other related ingredients. They help prevent diseases among livestock, maintain animal health, and promote growth and feed efficiency.
Technavio’s analysts forecast the global medicinal feed additives market to grow at a CAGR of 5.4% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global medicinal feed additives market for 2016-2020. The report presents the vendor landscape and a corresponding detailed analysis of the top six vendors operating in the market. In addition, the report discusses the major drivers influencing the market growth and the challenges faced by vendors and the market as a whole.
The market is divided into the following segments based on type:
Technavio Announces the Publication of its Research Report – Global Medicinal Feed Additives Market 2016-2020
Technavio recognizes the following companies as the key players in the Global Medicinal Feed Additives Market: BASF, Bayer Healthcare, Cargill, Evonik Industries, Merck and Zoetis.
Other Prominent Vendors in the market are: Adisseo, Aliphos, Champrix, Charoen Pokphand, Eli Lilly (Elanco), NuWest Milling, Purina Animal Nutrition, Wuhan Pharma Chemical and Westway Feed Products.
Commenting on the report, an analyst from Technavio’s team said: “With the increasing concern regarding animal health, the demand for veterinary specialists is increasing on a global scale. Animal healthcare products are becoming extensive with innovations in feed additives, vaccines, antibiotics, metabolic drugs, reproductive aids, imaging diagnostics, topical solutions, and parasite control. The demand for veterinary specialists is also increasing with an increase in medication and treatment for pets and other animals.”
According to the report, an increase in animal epidemics is one of the major growth drivers of the market. These epidemic outbreaks cause huge economic damage and can affect human health. With the use of medicinal feed additives, essential nutrients and supplements are provided to animals to gain resistance to such epidemics.
Further, the report states that some challenges restrict the growth of the market such as the inaccurate dosage of veterinary medicines.
BASF, Bayer Healthcare, Cargill, Evonik Industries, Merck, Zoetis, Adisseo, Aliphos, Champrix, Charoen Pokphand, Eli Lilly (Elanco), NuWest Milling, Purina Animal Nutrition, Wuhan Pharma Chemical, Westway Feed Products.
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