Virginiamycin Market Forecasts to 2030 – Global Analysis By Type (Poultry, Aquaculture and Other Types), Animal (Companion Animals, Cattle, Swine and Other Animals), Distribution Channel, Application and by Geography

Virginiamycin Market Forecasts to 2030 – Global Analysis By Type (Poultry, Aquaculture and Other Types), Animal (Companion Animals, Cattle, Swine and Other Animals), Distribution Channel, Application and by Geography

According to Stratistics MRC, the Global Virginiamycin Market is accounted for $185.05 million in 2023 and is expected to reach $307.01 million by 2030 growing at a CAGR of 7.5% during the forecast period. Virginiamycin is a strong antibiotic that is also used as a feed additive in livestock and poultry farming to boost growth and guard against bacterial infections. Virginiamycin M1 and Virginiamycin S1, its two closely related components, make up this antibiotic that is a member of the streptogramin group. Additionally, these elements suppress bacterial growth by preventing protein synthesis in the cells. Due to its exceptional efficacy against Gram-positive bacteria, Virginiamycin is a valuable tool for disease prevention and enhancing animal health in general.

According to the American Veterinary Medical Association (AVMA), the responsible use of antibiotics, including compounds such as Virginiamycin, is crucial in ensuring the health and well-being of animals in agricultural settings.

Market Dynamics:

Driver:

Increasing production of livestock

The growing demand for livestock products worldwide is one of the major factors driving the Virginiamycin market. To meet the rising demand for meat and dairy products, efficient and sustainable livestock production is becoming more and more important as the world's population continues to rise. Moreover, virginiamycin is a major factor in favor of intensive animal farming practices because it helps to prevent infections and promote growth in livestock.

Restraint:

Antibiotic resistance concerns

The increasing worry about antibiotic resistance is one of the major factors affecting the Virginiamycin market. The widespread and ongoing use of antibiotics, such as Virginiamycin, in cattle may be a factor in the emergence of bacterial strains that are resistant. Furthermore, due to the fact that resistant bacteria may spread to humans via the food chain, this puts public health at risk in addition to that of animals. It also reduces the antibiotics' long-term efficacy.

Opportunity:

Growing use of accurate livestock production

The market for virginiamycin is expected to benefit from the increasing use of precision livestock farming, which is being fueled by developments in automation, data analytics, and sensor technologies. Moreover, virginiamycin and other feed additives can be applied precisely to maximize growth and health outcomes. Precision farming makes it possible to monitor animal health parameters and feed efficiency more precisely.

Threat:

Growing restraints on regulations

The increasing regulatory scrutiny and tightening restrictions on the use of antibiotics in livestock farming pose a serious threat to the Virginiamycin market. Stricter regulations are being put in place by governments and international organizations in response to worries about antibiotic resistance, which may restrict the supply and use of Virginiamycin. Furthermore, market participants face challenges in adhering to changing regulatory standards.

Covid-19 Impact

Due to supply chain disruptions, labor shortages, and economic uncertainties that have impacted the entire agriculture and livestock industry, the COVID-19 pandemic has had a significant impact on the Virginiamycin market. Lockdowns and restrictions brought on by the pandemic created logistical difficulties that hampered the manufacture and distribution of feed additives, such as Virginiamycin. Moreover, some cattle producers have reevaluated their expenditures as a result of the economic fallout, which could affect the market for these additives.

The Poultry segment is expected to be the largest during the forecast period

In the market for Virginiamycin, poultry farming has the largest share. To encourage growth and guard against bacterial infections in hens and other poultry species, the poultry industry uses Virginiamycin as a feed additive liberally. The need for effective and sustainable poultry farming practices has grown as a result of the world's constant demand for poultry products, which is being driven by population growth and shifting food preferences. Additionally, a useful tool for preserving the wellbeing and output of chicken flocks is Virginiamycin, due to its potency against Gram-positive bacteria.

The Feed Additive for Cattle and Poultry segment is expected to have the highest CAGR during the forecast period

Feed Additive for Cattle and Poultry is the Virginiamycin market segment with the highest CAGR. Due to the rising demand for meat and poultry products as well as the necessity of using sustainable animal production methods, this market is expanding significantly. The antibiotic feed additive virginiamycin is highly prized for its ability to treat and prevent diseases in cattle and poultry, including coccidiosis and necrotic enteritis. Furthermore, it also stimulates growth, increasing feed conversion effectiveness, encouraging weight gain, and improving the general health of the animal.

Region with largest share:

North America is probably the region with the largest share of the Virginiamycin market. Because of its well-established livestock industry and strong demand for meat and poultry products, North America is a major consumer of Virginiamycin. The adoption of Virginiamycin as a feed additive for cattle and poultry is also influenced by the region's strict regulations regarding food safety and animal health. Moreover, the promotion of sustainable animal production methods is another major priority in North America, which supports the expansion of the Virginiamycin market there.

Region with highest CAGR:

The Asia-Pacific region is anticipated to have the highest CAGR in the Virginiamycin market. The demand for Virginiamycin as a feed additive for cattle and poultry is rising significantly in the Asia-Pacific area. The growing population, rising disposable income, and shifting dietary preferences—which result in a greater consumption of meat and poultry products—are the main drivers of this growth. Furthermore, the area is witnessing a transition towards more intensive methods of animal husbandry, thereby requiring the application of antibiotics such as Virginiamycin to prevent infections and enhance growth.

Key players in the market

Some of the key players in Virginiamycin market include Elanco, Merck Animal Health, Ceva, Merial, Bayer Animal Health, Phibro Animal Health Corporation, Vetoquinol, Boehringer Ingelheim, Virbac and Zoetis.

Key Developments:

In November 2023, CEVA Logistics completed its acquisition of Stellar Value Chain. CEVA acquired a 96% stake in the Mumbai-based warehousing and transportation specialists from an affiliate of private equity form Warburg Pincus and other shareholders. The acquisition adds to CEVA’s existing presence in India, allowing for the delivery of holistic supply chain services to customers across the Asia Pacific region and beyond.

In August 2023, Merck Animal Health announced Dec. 6 that it has acquired Prondil S.A., a privately held company specializing in the development and manufacturing of animal health vaccines for livestock. Specific terms of the agreement were not disclosed. Prondil, located in Montevideo, Uruguay, is an internationally recognized supplier of antigens and vaccines for veterinary use. The company’s wide range of products is sold in more than 20 countries.

In May 2023, Elanco Animal Health Incorporated has entered into an agreement with Aptimmune Biologics, Inc., as the exclusive distributor of their porcine reproductive and respiratory syndrome inactivated, or killed, vaccine based on Aptimmune's Barricade technology platform in the United States. An inactivated vaccine is one consisting of virus particles, bacteria or other pathogens that have been grown in culture and then killed to destroy disease-producing capacity.

Types Covered:
• Poultry
• Aquaculture
• Other Types

Animals Covered:
• Companion Animals
• Cattle
• Swine
• Other Animals

Distribution Channels Covered:
• Hospital Pharmacies
• Retail Pharmacies
• Online Pharmacies

Applications Covered:
• Necrotic enteritis
• Coccidiosis
• Growth Stimulation
• Feed Additive for Cattle and Poultry
• Other Applications

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• sAsia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances