The global aquaculture healthcare market is estimated to reach USD 1232.28 million by 2028, at a CAGR of 5.9% during the forecast period from 2021 to 2028. The rising demand for quality fish protein across the world is the major factor for the growth of the market. Furthermore, growing awareness regarding the management of fish healthcare is the major factor that assists in driving the growth of the market. Increasing research and development coupled with the launching of new products is considered as one of the important factors which further assist in boosting the market growth. However, a lack of limited knowledge regarding aquatic animal diseases is the major restraining factor that affects the growth of the market. In addition, growing concern over antibiotic resistance is the restraining factor that resists the growth of the market. Nonetheless, ongoing research and development from the market players will bring huge growth opportunities during the forecasted year.
Food and Agriculture Organization of the United Nations defined aquaculture as the farming of aquatic organisms including fish, molluscs, crustaceans, and aquatic plants with some sort of intervention in the rearing process to enhance production, such as regular stocking, feeding, and protection from predators. A number of the procedures are performed for maintaining the proper healthcare of the aquatic animal.
The term aquaculture is also known as aquafarming. Aquafarming includes the farming of aquatic plants, crustaceans, fish, mollusks, algae, and others. The industry expanded 14 times since 1980. The process includes rearing, breeding, and harvesting of aquatic species both animal and plants under an aquatic environment of the sea, river, ocean, pond and stream. Looking at the importance of aquaculture, separate individual regional guidelines are designed for the management of aquaculture health. This effective healthcare management program includes all levels of activity for aquaculture activity. The private sectors like farmer and service provide plays an important role in designing the aquatic animal health program and effective code practice. They also assist in protecting policies of aquatic animal health. The private sector also participates in research and development with the close association.
There are various regional and international societies, and in some countries, national societies/networks, that focus mainly on aquatic animal health (e.g. the European Association of Fish Pathologists (EAFP), the Fish Health Section of the Asian Fisheries Society (FHS/AFS), the Fish Health Section of the American Fisheries Society (AFS/FHS), and the Japanese Society of Fish Pathology (JSFP)). For the effective management of the aquaculture, daily education, training, are extension are provided. The common service includes professional courses, long-term planning management, etc.
At present, the increasing demand for aquatic animals in the Asia Pacific region is the major factor that provides a huge opportunity for the market players. Aquatic disorders management is not an easy task. The company is continuously in research and development which provides the best practice at a minimal cost. Ongoing coronavirus pandemic hit almost every industry. The demand for aquaculture remains constant during the pandemic. The sector does not affect directly. But disturbance in the supply chain indirectly affects the aquaculture market. The same effect has seen for the aquaculture healthcare market.
Based on product type, the global aquaculture healthcare market is classified into three types drug, vaccine, and medicated feed additives. The drug class is further segmented into antibiotics, parasiticides, anti-inflammatory, anti-infectives, anti-fungal, and others. The drug segment holds the largest market share in the year 2020. Among all drugs, antibiotics generate the maximum revenue in the year 2020. The growth is mainly associated due to increasing bacterial infection in aquatic animals across the world.
Based on application, the market is classified into two types - fish and crustaceans. The fish segment is the major consumer of aquaculture healthcare. The fish segment is further sub-segmented into marine species, freshwater species, and diadromous species. Freshwater species have shown lucrative growth in the historic period. The trend will remain the same during the forecasted year. Increasing fresh fish water farming is the major contributing factor for the growth of the market followed by increasing awareness across the world. Increasing demand for fish protein in India is considered as one of the opportunities which is projected to promote the growth of the market.
Based on infection type, the global aquaculture healthcare market is classified into four types, Bacterial, Fungal, Viral and parasitic. The bacterial segment holds the largest market share across the world. Some of the common bacterial disorders include fin rot, mouth fungus, swim bladder diseases, vibriosis and others. Fungal infection holds approx. more than 23% of the total market share in the year 2020. Whereas, the viral segment is growing at the highest CAGR% within the forecasted year.
Based on the route of administration, the global market is classified into oral, injectables, and topicals. The oral segment captured the majority of the share of the global aquaculture healthcare market. The growth is mainly attributed due to the high professional preference. The most effective treatment method is to drop the medicated food in the fish tank or farm. The oral route is considered the safest way to administer the drug.
Based on distribution channels the market is classified into retail/aqua stores, online stores, and others. The retail or aqua store holds the largest market share across the global market. The primary benefit of the retail stores is to create awareness about products among the buyers. The same-store also assists in attracting a large number of buyers. Such store offer provides convenience to the customers. Furthermore, online sales of the products are also developing across the world. It is estimated that the online sales of aquaculture healthcare products will grow at the highest CAGR% within the forecasted year.
Adroit Market Research report on global aquaculture healthcare market gives a holistic view of the market from 2018 to 2028, which includes factors such as market drivers, restraints, opportunities and challenges. The market has been studied for historic years from 2018 to 2019, with the base year of estimation as 2020 and forecast from 2021 to 2028. The report covers the current status and future traits of the market at global as well as country level. In addition, the study also assesses the market based on Porter's five forces analysis and positions the key players based on their product portfolio, geographic footprint, strategic initiatives and overall revenue. Prominent players operating in the global aquaculture healthcare market have been studied in detail.
The global aquaculture healthcare market is classified into five major regions, North America, Europe, Asia Pacific, Latin America, and the Middle East, and Africa. North America holds the largest market share followed by Europe. Europe region accounted for more than 30% of the global market share in the year 2020. According to a seafood source, European Union plans to be doubled its aquaculture production by 2030. Furthermore, Asia Pacific holds the largest population in the world. It is estimated that China and India themselves contribute more than 40% of the total global population. Due to increasing awareness, the Asia pacific aquaculture market is growing rapidly. It is estimated that the Asia Pacific market will grow at the highest CAGR% during the forecasted year. In Latin America, Brazil holds the largest market share in the year 2020. The gulf countries in the Middle East and Africa hold more than 60% share of the Middle East and Africa.
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.
Key Segments of the Global Aquaculture healthcare market
Product Type Overview, 2018-2028 (USD Million)
- Modified live vaccines [MLV]
- Killed inactivated vaccines
- Medicated feed additives
- Amino acids
- Prebiotics and probiotics
Application Site Overview, 2018-2028 (USD Million)
- Freshwater Species
- Marine Species
- Sea bass
- Sea bream
- Diadromous Species
- Freshwater Species
Infection Type Overview, 2018-2028 (USD Million)
- Bacterial infections
- Viral infections
- Parasitic infections
- Fungal infections
Route of Administration Overview, 2018-2028 (USD Million)
Distribution Channel Overview, 2018-2028 (USD Million)
- Online stores
- Retail/aqua stores
Regional Overview, 2018-2028 (USD Million)
- North America
- United Kingdom
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa