Aquaculture Healthcare Industry is predicted to register 8.5% CAGR between 2023 and 2032 owing to lack of knowledge regarding diseases in aquatic animals.
Selbyville, Delaware, Jan. 18, 2023 (GLOBE NEWSWIRE) --
Aquaculture healthcare market value is expected to surpass USD 2 billion by 2032, according to a new research report by Global Market Insights Inc.
Growing prevalence of diseases and parasites causing infections or death in farmed fish is fueling industry expansion. The major risks affecting fish include common parasites such as protozoa and sea lice as well as deadly diseases caused by bacteria, viruses, and fungi. Although these conditions are natural, overcrowding on fish farms increases the risk of infectious diseases. Thus, as the number of fish farms rises and farms grow, the increasing prevalence of these diseases is likely to foster business scenario.
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Growing concerns about antibiotic resistance to amplify vaccine demand
Vaccines segment held more than 23.5% share of the aquaculture healthcare market in 2022 and is projected to grow significantly over the coming years. Vaccines provide immunity to the fish, resulting in fewer diseases in the stock, and save money on antibiotics, which is set to boost segment demand. In addition, prevalent concerns about antibiotic resistance to drive the development for vaccines in the coming years.
Favorable conditions for aquaculture across several countries to favor crustacean segment
Aquaculture healthcare market from the crustaceans segment is speculated to exhibit a 9.5% CAGR till 2032. Crustaceans include shrimp, prawns, and others. Most countries have favorable conditions for crustacean aquaculture, which has positively influenced this industry, particularly in Latin American countries. Furthermore, the burgeoning crustacean consumption is propelling the expansion for aquaculture healthcare products aimed at crustaceans, which is likely to bolster business revenue.
Browse key industry insights spread across 420 pages with 904 market data tables & 17 figures & charts from the report, 'Aquaculture Healthcare Market Size By Product (Drug Parasiticides, Anti-inflammatory, Anti-infectives, Vaccines Modified Live Vaccines (MLV), Killed Inactivated Vaccines, Medicated Feed Additives Antibiotics, Vitamins, Amino Acids, Enzymes, Antioxidants, Prebiotics and Probiotics, Minerals, Hormones), Species (Fish Freshwater Species [Tilapia, Carp], Marine Species [Sea Bass, Sea Bream, Turbot], Diadromous Species [Salmon, Trout], Crustaceans Prawns, Shrimps), Infections (Bacterial Infections, Viral Infections, Parasitic Infections, Fungal Infections), Route of Administration (Oral, Injectable, Topical), Distribution Channel (Distributors, Online Stores, Retail/Aqua Stores), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2023 – 2032' in detail along with the table of contents:
Increased prevalence to promote viral infection segment expansion
The soaring prevalence of viral diseases caused by viruses such as aquabirnavirus, betanodavirus, and salmon anemia virus is a key factor supplementing viral infection segment statistics. These viruses produce a variety of symptoms, including necrosis and fish disfigurement, resulting in 100% mortality of the population, which impels the need for proper medication, thereby complementing segment landscape.
Direct delivery of antigen into the muscle to stimulate injectable products
Aquaculture healthcare market from injectable segment is anticipated to witness an 8.5% CAGR till 2032 attributed to the effectiveness of injectable therapeutics. The irregularity of metabolic processes caused by a fish's poikilothermic nature and poorly vascularized tissues causes drug diffusion to vary. Injectable products deliver antigens directly into muscle or the body cavity, stimulating the immune response quickly, which is foreseen to be lucrative for segment outlook.
Expanding salmon farming sector to augment Europe industry revenues
Europe aquaculture healthcare market is projected to exceed USD 835 million by 2032 due to favorable conditions for salmon farming. Salmon is particularly prone to sea lice, which increases the demand for aquaculture healthcare products to combat the infection, thereby strengthening industry potential. Advanced rearing techniques used in Europe to witness rapid gains for sophisticated therapeutics, which is forecast to increase regional progress.
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Novel product launches and development to define the competitive landscape
Major companies operating in the aquaculture healthcare market are Ceva Sante, Virbac, Phibro Animal Health Corporation, Zeal Aqua, Benchmark PLC, Elanco, Merck, Archer Daniels Midland Company, and Zoetis LLC, among others.
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Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.