The growth of the medical feed additives market is being increased by prevalence of diseases among animals is driving the growth of the medicated feed additives market. According to the estimates from report by Defra, 2017, the prevalence rate of bovine tuberculosis (TB) in cattle increased in England from around 5% in 2016 to around 6% in 2017. Bovine tuberculosis is a chronic disease which usually affects animals such as cattle, but it can affect all mammals causing illness, coughing and eventual death.
The medical feed additives market consists of sales of medical feed additives and related services in order to prepare complete food for animals. Medical feed additives help improve the nutritional content and quality of feed, results in better productivity, and prevents animals from diseases. Medical feed additives industry includes companies that produce animal feed additives such as vitamins and probiotic, preservatives, antioxidants, digestibility enhancers, gut flora stabilizers and others.
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The global medical feed additives market was valued at about $13 billion in 2018 and is expected to reach a estimate of around $16 billion at a growth rate of around 6% through 2022.
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The medical feed additives market has been geographically segmented into North America, Western Europe, APAC, Eastern Europe, South America and Middle East & Africa. The North American market is the largest market for Medical Feed Additives and is expected to continue to be the largest market during the forecast period.
The veterinary healthcare market, of which the medical feed additives market is a segment, includes sales of goods and healthcare by entities (organizations, sole traders and partnerships) associated with diagnosis, treatment and prevention of diseases in animals. This industry includes establishments that provide veterinary healthcare, veterinary medical equipment producers and animal medicine producers.
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The medical feed additives market report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast growth by geography. It places the market within the context of the wider veterinary healthcare market and compares it with other markets.
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