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Aquaculture Healthcare Market size worth over $1.25bn by 2028

  • Published Date: January 24, 2022

Aquaculture Healthcare Market size is set to surpass USD 1.25 billion by 2028, according to a new research report by Global Market Insights Inc.
 

Increasing demand for fish protein across the world along with growing number of aquaculture farms is expected to significantly boost the market growth. Also, development of novel and advanced vaccines for treatment of various bacterial and viral infections during fish farming will augment the market expansion. Major market players are focusing on launch and development of new vaccines for bacterial infections. Furthermore, with increasing prevalence of bacterial and viral infectious disorders, the demand for development of feed additive products as well as vaccines is poised to increase during the forecast timeframe.
 

Increasing aquaculture production across the globe is one of the major factors driving the aquaculture healthcare market progression. In addition, an increased likelihood of diseases in farmed fish has created a need for healthcare solutions. This will raise the demand for medicated feed and vaccines that improve the animals’ survival rates. Therefore, manufacturers are focusing to produce novel solutions to cater to the problems, thereby favorably impact the industry growth.
 

Widespread use antibiotics in aquaculture farming may hamper the market value

High density of fishes in farming makes them more susceptible to the infections thus, antibiotics are used to control the diseases in aquaculture animals. However, extensive use or misuse of antibiotics in aquaculture farming may result in antimicrobial-resistant pathogens.
 

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

The vaccines segment in the aquaculture healthcare market valued at USD 208 million in 2021. Vaccines can be classified into modified live vaccines or killed inactivated vaccines. Vaccines provide superior protection without any negative outcomes of antibiotics such as resistance and disease recurrence. With the growing prevalence of viral and bacterial infections, the demand for vaccines is estimated to grow in the coming years. Additionally, increasing research and development activities to explore new methods for production of novel, advance and complex vaccines is anticipated to further fuel the segment growth.
 

Crustaceans segment to showcase significant market demand

The aquaculture healthcare market for crustaceans segment accounted for 12% of the market share in 2021. Crustaceans include shrimps and prawns. Most countries have favorable conditions to stimulate aquaculture of crustaceans, which has led to an increase in crustacean’s aquaculture, especially in the Asia Pacific and Latin America markets. Growing number of viral infections such as infectious salmon anemia (ISA) and infectious pancreatic necrosis (IPN) is projected to spur the industry expansion.
 

Browse key industry insights spread across 420 pages with 828 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, Carp], 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), COVID-19 Impact Analysis, Regional Outlook, Price Trends, Application Potential, Competitive Market Share & Forecast, 2022 – 2028” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/aquaculture-healthcare-market

 

High incidence of viral infections will influence the segment value

The viral infections segment in the aquaculture healthcare market is anticipated to witness 5.9% growth rate through 2028 led by the increasing incidence of viral diseases such as Aquabirnavirus, Betanodavirus, and Tilapia Lake Virus (TiLV) disease. These viruses cause various symptoms such as necrosis, disfigurement of fish and often result in 100% mortality of the population, thereby require proper medication.
 

Efficacy of injectable therapeutics to make injectables the star segment

The aquaculture healthcare market for topical segment is estimated to reach USD 434.9 million by 2028. The topical route of administration segment is driven by growing advantages coupled with ease-of-use baths and sprays on topical route. Moreover, topical therapeutics reduce handling stress for fish that result in better outcomes, thereby making it popular in the market among the fish farmers. Also, smaller fish need topical vaccines before they’re capable of being vaccinated.
 

Rising shift of consumers towards online shopping will spur the segment expansion

Online store segment is poised to expand at more than 5.9% CAGR till 2028 impelled by the large variety of drugs catering to various diseases in aquatic animals. There is a growing inclination towards online shopping among consumers for aquaculture healthcare products.
 

The favorable government initiatives in the European region are noted to accelerate the market revenue

Europe aquaculture healthcare market size was over USD 376.1 million in 2021 on account of the favorable initiatives by private and government sector for R&D activities of aquaculture vaccines. Moreover, presence of favorable geographic conditions for fish farming coupled with presence of large number of fish farming companies such as Virbac will influence the industry value. Furthermore, growing demand for quality fish protein and the large salmon aquaculture such as in Norway will serve to boost the demand for aquaculture healthcare solutions, thereby fostering the regional growth.
 

Companies focusing on innovative products and acquisitions to strengthen their product and service offerings

Few of the leading companies operating in market include 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.
 

Authors: Sumant Ugalmugle, Rupali Swain