Aquaculture Healthcare Market size worth over $1 Bn by 2026

Aquaculture Healthcare Market size is set to exceed USD 1 billion by 2026; according to a new research report by Global Market Insights, Inc.
 

Increasing demand for fish protein across the world will significantly boost the market growth. There is a rising demand for quality animal protein across the world and fish are a good source of animal protein. This demand has led to overfishing and depletion of natural fisheries, which has in turn spurred the global aquaculture market. The growing number of aquaculture farms will favorably impact the demand for aquaculture healthcare products, fostering the market expansion.  

 

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Rising incidence of diseases in farmed fish will drive aquaculture healthcare market demand

An increasing incidence of parasites and diseases in farmed fish will positively augment the demand for aquaculture healthcare products, boosting the business growth. Fish naturally harbor pathogens and have parasites which affect the animals causing disease or death. Owing to the crowded conditions of fish farms, the infections can easily spread to other fish and result in death of fish populations. Thus, as fish farms grow, there will be an increased incidence of these diseases.
 

Furthermore, pollution affects fish in fish farms, resulting in impairment or death of the fish causing financial losses to the farmers. This will result in a growing demand for therapeutic solutions for aquatic animals, propelling the aquaculture healthcare market growth.
 

Asia Pacific Aquaculture Healthcare Market

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Innovative products as a result of increased R&D efforts by market players will bolster the demand

Increased R&D efforts by key market players have resulted in advent of innovative therapeutic solutions to the growing market, positively augmenting the aquaculture healthcare market expansion. These R&D efforts are driven by the rapidly expanding aquaculture market. Companies are looking to consolidate their revenue generation by providing novel products and solutions. Furthermore, an increased likelihood of diseases in farmed fish has created a need for healthcare solutions. This will raise the demand for healthcare solutions such as medicated feed and vaccines that improve the animals’ survival rates. Therefore, these factors will push the manufacturers to produce novel solutions to cater to the problems resulting in market expansion. Thus, above mentioned factors will favorably impact the market growth.
 

Resistance due to overuse of antibiotics will drive the demand for vaccines

The aquaculture vaccines market segment was valued at USD 195.5 million in 2019 and will showcase robust growth over the forecast timeframe. Vaccines can be classified into modified live vaccines or killed inactivated vaccines. These vaccines work by providing immunity to the animal and reduce the likelihood of diseases.
 

The segment growth can be attributed to the increased savings of farmers. The vaccines provide immunity to the fish, resulting in reduced instance of diseases in the fish stock that saves money spent on antibiotics. Furthermore, increased concerns over antibiotic resistance will boost the demand for vaccines. The above-mentioned factors will contribute to boosting the segment growth, propelling the market expansion.
 

Browse key industry insights spread across 420 pages with 830 market data tables & 19 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}), By Species (Fish {Freshwater Species [Tilapia, Carps], Marine Species [Sea Bass, Sea Bream, Turbot], Diadromous Species [Salmon, Trout]}, Crustaceans {Prawns, Shrimps}), By Infections (Bacterial Infections, Viral Infections, Parasitic Infections, Fungal Infections) By Route of Administration (Oral, Injectable, Topical), By Distribution Channel (Distributors, Online Stores, Retail/Aqua Stores), Regional Outlook, Price Trends, Application Potential, Competitive Market Share & Forecast, 2020 – 2026” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/aquaculture-healthcare-market
 

Fish segment to dominate the aquaculture healthcare market

Segmentation by species includes fish and crustaceans. The fish segment held about 85% market share in 2019 and will show substantial growth over the analysis timeframe. Fish include freshwater, marine, and diadromous species. Most countries have favorable conditions to foster aquaculture of fish, which has led to an increase in fish aquaculture, especially in the European markets. Furthermore, the abundance of fish compared to crustaceans, will boost the demand for aquaculture healthcare products aimed at fish. These factors will spur the market demand, propelling the industry growth.
 

High incidence of bacterial infections will boost the segment growth

The aquaculture healthcare market from bacterial infections segment is predicted to showcase a 5.7% CAGR during the forecast time period. Farmed fish show an increased incidence of bacterial infections. This increased incidence is the result of crowded conditions on fish farms. Furthermore, poor sanitation, poor water quality, and nutrition result in increased susceptibility to bacteria. These factors will foster the demand for aquaculture healthcare products for bacterial infections, in turn spurring the global market. Other types of infections include viral, parasitic and fungal infections.
 

Efficacy of injectable therapeutics to make injectables the star segment

The route of administration of aquaculture healthcare products can be categorized into oral, injectable or topical applications. The injectable segment held around 55% aquaculture healthcare market share in 2019 and will show robust growth over the forecast period. The high growth can be attributed to the effectiveness of injectable therapeutics. Drug diffusion varies due to the irregularity of metabolic processes in fish, owing to their poikilothermic nature and poorly vascularized tissues. Injections are the most effective and direct method of application as they increase the absorption of the drug. These factors will boost the demand for injectable products.
 

Online pharmacies to show fastest growth during the forecast timeframe

By distribution channel the aquaculture healthcare industry is segmented into distributors, online stores, and retail/aqua stores. Online pharmacies segment will showcase robust growth of 6.1% across the forecast timeframe. The large variety of drugs catering to various diseases in aquatic animals will contribute to the segment growth. Furthermore, there is a growing inclination towards online shopping among consumers. These factors will boost the online stores segment and contribute to the market expansion.
 

Salmon farms to make European market a lucrative opportunity

Europe aquaculture healthcare market accounted for revenue of USD 319.9 million in 2019 and will witness substantial growth over the forecast period. A strong demand for fish protein will boost the European aquaculture business, positively impacting the industry. Furthermore, favorable conditions for salmon farming will boost the salmon aquaculture market. Salmon are prone to sea lice, boosting the demand for therapeutics to combat the infection.
 

Norway accounted for market share of 49.7% in 2019. Norway has the highest production of farmed fish in Europe, which presents a lucrative opportunity for aquaculture healthcare products. As the demand for farmed fish increases, it will boost the demand for healthcare products for aquatic animals.
 

Companies focusing on innovative products and acquisitions to expand customer base and operations

Few of the leading players in the aquaculture healthcare market share are Zoetis, Merck, Elanco, Virbac, Ceva, Benchmark, Vetoquinol and Archer Daniels Midland Company. The companies are focusing on launching innovative products and strategic acquisitions in a bid to increase customer base.
 

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