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Aquaculture Healthcare Market size to exceed $2Bn by 2032

  • Published Date: January 16, 2023

Aquaculture Healthcare Market size is estimated to reach USD 2 billion by 2032, as per a new research report announced 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 between 2023 and 2032.

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 growth. 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 through the forecast timeline.

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 by 2032.

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.

Availability of multiple therapeutic brands to foster product sales through online stores

The availability of multiple therapeutic brands and a wide range of products is a major factor contributing to an increase in progress from online retailers. Moreover, consumers' growing preference for online shopping for aquaculture healthcare products is expected to boost the online stores' segment and contribute to market during the forecast timeframe.

Expanding salmon farming sector to augment Europe industry revenues

Europe aquaculture healthcare market is projected to exceed USD 835 million by the end of 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.

Novel product launches and development to define the competitive landscape

Major companies operating in the aquaculture healthcare industry are Ceva Sante, Virbac, Phibro Animal Health Corporation, Zeal Aqua, Benchmark PLC, Elanco, Merck, Archer Daniels Midland Company, and Zoetis LLC, among others.

Authors: Sumant Ugalmugle, Rupali Swain