The global aquaculture healthcare market is estimated to reach USD 1232.2 million by the end of 2028. The increasing protein consumption across the world is a major factor that drives the growth of the market. Furthermore, the prevalence of disease and parasite infection in fish farm is another factor which promotes the growth of the market. In addition, increasing investments in the aquaculture sector also assist in driving the growth of the aquaculture healthcare market. Moreover, rising demand from developing counties in the global market is the major contributing factor that promotes the growth of the market. However, the lack of skilled professionals required for the management of aquatic disorders is the major restraining factor that directly affects the market growth. It is expected that the untapped market of developing economies will bring huge opportunities during the forecasted year.
According to National Oceanic and Atmospheric Administration, Aquaculture is defined as a method of breeding, rearing, and harvesting fish, shellfish, algae, and other organisms in all types of water environments. In the United States, Marine aquaculture harvests a number of marine species which includes oysters, clams, mussels, shrimp, seaweeds, and fish such as salmon, black sea bass, sablefish, yellowtail, and pompano. Whereas, Freshwater species include catfish and trout. The process primarily takes place in ponds or other manmade systems.
Rising diseases in aquatic animals are the major constraint of aquaculture production. The following reason also affects the international trade of aquatic animals. For the management of aquaculture healthcare, proper communication is considered an important tool. For the effective health management of the aquaculture the production unit equipped with advanced equipment. The government plays a major role at both the regional and the international level. For the management of the advanced aquaculture management, regionally oriented guidelines are allocated. The role of private companies is increasing nowadays. These companies are now fulfilling the demand of the market by providing fresh products.
The COVID-19 pandemic has prompted a public health disaster followed by an ongoing financial crisis due to the actions taken by states to contain the rate of infectivity, such as home quarantine, travel prohibitions, and business ends. However COVID-19 does not impact the fish business, nor is it affect the consumption of fish, the fish division is still focused on indirect impacts of the pandemic through changing consumer loads, market access, or logistical difficulties related to transportation and border restrictions. This, in turn, will have a detrimental effect on fishers and fish farmers’ livelihoods, as well as on food security and nutrition for peoples relying deeply on fish for animal protein and essential micronutrients.
The major players operating in the global aquaculture healthcare market include but are not limited to Archer Daniels Midland Company, Benchmark PLC, Ceva Sante, DuPont, Elanco, Merck, Vetoquinol S.A., Virbac, Zeal Aqua, Zoetis LLC among others. The proliferation of local manufacturers is also significant in this market, thus intensifying the prevalent competition.
Aquaculture Healthcare Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2028||USD 1232.28 million|
|Growth Rate||CAGR of 5.9% during 2021-2028|
|Segment Covered||Product Type, Application Site, Infection Type, Route of Administration, Distribution Channel, Regions|
|Regions Covered||North America, Europe, Asia Pacific, Latin America, Middle East & Africa|
|Key Players Profiled||Archer Daniels Midland Company, Benchmark PLC, Ceva Sante, DuPont, Elanco, Merck, Vetoquinol S.A., Virbac, Zeal Aqua, Zoetis LLC among others.|
Key Segments of the Global Aquaculture healthcare market
Product Type Overview, 2018-2028 (USD Billion)
- Modified live vaccines [MLV]
- Killed inactivated vaccines
- Medicated feed additives
- Amino acids
- Prebiotics and probiotics
Application Site Overview, 2018-2028 (USD Billion)
- Freshwater Species
- Marine Species
- Sea bass
- Sea bream
- Diadromous Species
- Freshwater Species
Infection Type Overview, 2018-2028 (USD Billion)
- Bacterial infections
- Viral infections
- Parasitic infections
- Fungal infections
Route of Administration Overview, 2018-2028 (USD Billion)
Distribution Channel Overview, 2018-2028 (USD Billion)
- Online stores
- Retail/aqua stores
Regional Overview, 2018-2028 (USD Billion)
- North America
- United Kingdom
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
Reasons for the study
- To know the current and the future demand from the end-user industry
- To know the sales of the product, based on species type.
- To know the trend and the recent development in the aquaculture healthcare market
- To understand the beneficiary effect of aquaculture healthcare
What does the report include?
- The study on the global aquaculture healthcare market includes qualitative insights such as drivers, restraints, challenges and opportunities
- Additionally, the market has been evaluated using the Porter’s five forces analysis
- The study covers qualitative and quantitative analysis of the market segmented on the basis of product type, application site, material type and property type. Moreover, the study on aquaculture healthcare market provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the above-mentioned segments
- The study includes the profiles of key players operating in the market with a significant global and/or regional presence
Who should buy this report?
- The report on the global aquaculture healthcare market is suitable for all the market players such as manufacturer, distributors and all there players dealing with aquaculture business.
- Healthcare institution like veterinarian government hospitals.
- Venture capitalists and investors looking for more information on the future outlook of the global aquaculture healthcare market
- Consultants, analysts, researchers, and academicians looking for insights shaping the global aquaculture healthcare market
The growing aquaculture business gives rise to the growth of the aquaculture healthcare market. This is expected to grow at a CAGR% of approx. 6% in the upcoming years. Increasing quality protein demand from western countries is the most driving factor for the growth of the market. Increasing investment followed by research and development from the market players will further assist in market growth. For instance: In February 2018, PharmaQ, a subsidiary of Zoetis announced the launch of the vaccine against Viral Nervous Necrosis (VNN) for sea bass in Spain, Italy, Croatia, and Greece. This launch enabled the company to strengthen its market presence in Europe and expand its customer base. In August 2016, Elanco launched Imvixa, an innovative delousing solution to treat sea lice in salmon. This launch has helped the company increase its sales and revenue generation from aquaculture healthcare.
In terms of product type, the market is classified into drug, vaccine, and medicated feed additives. The drug segment holds the largest market share in the year 2020. The same segment is expected to grow with the highest CAGR% during the forecasted year. The drug category used for the management of aquaculture healthcare are parasiticides, anti-infectives, anti-inflammatory, and others. The medical feed and additives account for 17% of the total market share in the year 2020. Increasing usage of drugs is the major contributing factor that promotes the growth of the market.
In terms of the application site, aquaculture healthcare is classified into fish and crustaceans. The fish segment is further classified into three types freshwater, marine water, and diadromous species. The fish segment is the most lucrative segment in the aquaculture healthcare market. The same segment holds the largest market share in the year 2020. Rising demand for fish protein is the major factor that promotes the growth of the market. According to Food and Agriculture Organization (FAO), the consumption of fish has doubled to 20 kg per capita in 2016 and is rising. This increasing demand for quality fish has led to overfishing and depletion of wild fisheries, propelling the market for farmed fish. Increasing consumption of prawns and shrimps also assists the growth of the market.
Based on infection type, the aquaculture healthcare market is classified into bacterial infections, viral infections, parasitic infections, and fungal infections. Bacterial infection holds the largest market share in the year 2020. The mycobacterial diseases of fish are common, particularly in intensive aquaculture systems and display aquaria. All species of fish can be caught in mycobacteriosis. A viral infection will show the most lucrative growth during the forecasted year. Increasing therapeutics treatment for viral infection is the most contributing factor which promotes the growth of the market.
In terms of route of administration, the market has been classified into three types - oral, topical, and injectables. The oral segment contributes the largest market share in the year 2020. Oral medication is considered one of the best of its kind. The most effective treatment method is to drop the medicated food in the fish tank or pond. As per the guidelines made by AFCD, only the specified drug should be prescribed and that must be stick to the specified dosage. The common drug used are antibiotics, antifungals, multivitamins, amino acids, and others. Some of the other drugs which farmers adhere are hydrogen per oxides, potassium per magnate, and others.
In terms of distributor type, the market has been classified into three types: online stores, aqua stores, and others. Retail store is the largest segment for the aquaculture healthcare market in the year 2020. The same segment will grow at the highest CAGR% during the forecasted year. In order to reach the maximum customers, the retail store is the most lucrative segment. The retail store provides a variety of products in one place. This assists the customers and promotes the maximum consumption of the products.
The global report of the aquaculture healthcare market classified the market into five regions, North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America dominates the global aquaculture healthcare market. In terms of consumption, Asia Pacific accounted for more than 30% of the global market share in the year 2020 and witness 3.8% growth over the upcoming years. Growing awareness in countries like India, Indonesia, and China regarding the importance of aquaculture healthcare will further boost the Asia pacific aquaculture healthcare market. In terms of revenue, the European region capture more than 40% of the global revenue market share in the year 2020. Growing demand for fish protein followed by rising per capita health care expenditure is the major factor which leads to continuous demand for aquaculture healthcare products from fish farms. Furthermore, increase usage of salmon aquaculture further boost the market.