The Virginiamycin Market report provides insightful details on how clients enhance their basic leadership capacity within the worldwide Virginiamycin business. Virginiamycin Market report identifies that rapidly changing market trends and competitive landscape with growth significant CAGR during Forecast. Along, with latest marketing factors those are essential to monitor market performance and crucial decisions for progress and profitability.
Virginiamycin is an antibiotic produced by Streptomyces virginiae and belongs to the streptogramin group, which has two synergistic factors: M (hybrid polyketide-peptide) and S (peptide). It is used in the fuel ethanol industry to prevent microbial contamination. Virginiamycin is an antibiotic, which was marketed for vancomycin resistant enterococcus in the U.S. in 1999. It is also used in the agriculture sector specifically in livestock to accelerate the growth of animals and prevent and treat infections. Virginiamycin is a mixture of two principle components of virginiamycin M1 and virginiamycin S1. Virginiamycin controls microbial growth within lumen of gastrointestinal tract by disrupting bacterial protein synthesis.
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Virginiamycin can also be used as a growth stimulator as it optimizes the absorption and metabolism of nutrients. It also improves the state of small intestine epithelium and inhibits the growth of harmful toxins and metabolites by gut organisms. Virginiamycin is used for the treatment of necrotic enteritis in broiler chickens — a common fatal gastrointestinal disease in poultry.
Virginiamycin Market- Dynamics
Pharmaceutical manufacturers are focused launching new products to address limited availability of Virginiamycin and to enhance their market share. This in turn is expected to augment the market growth. For instance, in January 2019, Phibro Animal Health Corp. announced that its virginiamycin medicated feed additive received regulatory approval by Veterinary Drugs Directorate (VDD), Health Canada, for use in beef cattle. According to Phibro Animal Health Corp., V-max (virginiamycin) is approved for the reduction of incidence of liver abscesses in cattle fed in confinement.
In developing countries there is rapid increase of demand for livestock. In developed countries, demand for livestock is stagnating. Increasing demand for livestock due to growing human population is expected to boost growth of the market. Increasing livestock production leads to high demand for animal feed.
Stringent regulations by the regulatory agencies is expected to hinder market growth. In September 2015, the European Commission adopted the regulation establishing maximum residue limits for virginiamycin in poultry species, which is valid throughout the European Union.
In Denmark over 105 metric tonnes of antibiotics were used as growth promotion, after few years its usage failed which further accompanied by diminution of resistance to virginiamycin. Virginiamycin was banned in Denmark in 1999. The early ban on growth promoters in Denmark caused a drastic increase in use of therapeutic antibiotics in response to diseases such as colibacillosis and ileitis. Moreover, signs of allergic reaction to virginiamycin such as maculopapular eruption, anaphylactic reactions, eczema appearance on initial areas of contact dermatitis, and lesions are also expected to restrain the virginiamycin market growth.
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Virginiamycin Market- Regional Dynamics
On the basis of region, the global virginiamycin market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. The rapid increase in livestock animals is the main reason for North America region to hold a dominant position in the global virginiamycin market over the forecast period in terms of revenue share followed by Europe. The virginiamycin market in this region has been growing due to the necessity for the additional supplements in the diet for a companion as well as livestock animals for appropriate nutrition. The consumption of virginiamycin is high in Europe, which is expected to drive the virginiamycin market growth in the region. For instance, in January 2017, virginiamycin was approved for use in feed. Upon completion of voluntary conversion from over the counter to veterinary feed directive(VFD), all feed uses of the virginiamycin alone or in a combination, will require the VFD. The proprietary drug names of virginiamycin is Stafac and V-max.
Virginiamycin Market- Competitive Analysis
Key players in the market are focused on development, manufacturing, and marketing of multisource and branded pharmaceuticals, thereby augmenting the market growth. For instance, in January 2017, Huvepharma AD received approval for STAFAC (virginiamycin) plus CLINACOX (diclazuril) combination drug type in chickens for prevention of necrotic enteritis and coccidiosis in broiler chickens.
Key players operating in the global virginiamycin market include, Hongcong Xinrunde Chemical Co., Ltd, Xiamen ShengLang SaiChuang Biological Technology Co., Ltd., Manus Aktteva Biopharma, Alfanzyme, Phibro Animal Health Corporation, Merck Animal Health, Zoetis, Elanco, Virbac, Ceva, and Vetoquinol.
Virginiamycin Market- Market Taxonomy
On the basis of animal, the global virginiamycin market is segmented into:
On the basis of application, the global virginiamycin market is segmented into:
- Necrotic enteritis
- Growth Stimulation
- Feed Additive for Cattle and Poultry
On the basis of distribution channel, the global virginiamycin market is segmented into:
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
On the basis of region, the global virginiamycin market is segmented into:
- North America
- Latin America
- Asia Pacific
- Middle East
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