Aquaculture Healthcare Market Size
Driven by the global growing need for fish protein, aquaculture healthcare market size was assessed at over USD 900 million in 2022 and is anticipated to show more than 8.5% CAGR over 2023–2032.
An increasing need for superior nutrition and a rise in fish consumption are mostly driving industrial expansion as population increase calls for them. Since natural fish sources cannot sustain this rate of fishing, more people are depending on aquaculture to provide a sustainable source of fish. Furthermore, the growing number of aquaculture farms probably helps to support the market for healthcare solutions.
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Lack of knowledge about diseases in aquatic animals may limit revenue growth
Short-term lack of understanding regarding epidemiology and disease treatment for aquatic animals is predicted to hinder market expansion. Aquaculture has always lagged behind other livestock; consequently, little study on aquaculture health results in less healthcare options, so perhaps limiting product acceptance. Nonetheless, growing efforts by retail aqua stores and industry players to increase awareness among fish farmers about the several advantages connected with aquaculture healthcare solutions, as well as the increasing availability of new solutions, may help them overcome this limit over the expected period.
| Report Attribute | Details |
|---|---|
| Base Year | 2022 |
| Aquaculture Healthcare Market Size in 2022 | 900 Billion (USD) |
| Forecast Period | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR | 8.5% |
| 2032 Value Projection | 2 Billion (USD) |
| Historical Data for | 2018 to 2022 |
| No. of Pages | 420 |
| Tables, Charts & Figures | 921 |
| Segments covered | Product, Species, Infections, Route of Administration, Distribution Channel, and Region |
| Growth Drivers |
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| Pitfalls & Challenges |
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What are the growth opportunities in this market?
Aquaculture Healthcare Market Analysis
Regarding products, the medicated feed additive segment's aquaculture healthcare market share is expected to show notable increase at over 10% CAGR through 2032. Additional classification for the segment is topical therapies, amino acids, antioxidants, enzymes, antibiotics, minerals, hormones, prebiotics and probiotics, and vitamins. Medicated feed additives are drugs or antibiotics meant to help aquaculture producers reduce the risks of diseases, infections, or illnesses in aquatic life as well as boost the nutritional value and quality of food, so influencing their consumption through 2032.
Learn more about the key segments shaping this market
Based on species, the fish segment of the aquaculture healthcare industry is expected to bring in over USD 775 million in income by 2022, the report notes. The growing demand for premium fish proteins—which is expected to drive segment development—has made aquaculture healthcare solutions more necessary. Projected to be a major engine accelerating the company growth through 2032 is the thriving fish farming industry, which depends on higher fish output.
Learn more about the key segments shaping this market
Aquaculture healthcare market is bifurcated by infection into bacterial infection, viral infection, parasitic infection, and fungal infection. The parasitic infection segment is foreseen to surpass USD 450 million by 2032. The increased vulnerability of aquatic species to parasites, such as sea lice and sea fleas has resulted in an upsurge in the demand for parasitic infection medications. For instance, salmon are highly vulnerable to sea lice infection. Furthermore, the development of novel treatments and innovative solutions to treat these infections is expected to stimulate segment trends.
As per the route of administration, the aquaculture healthcare market is segregated based on oral, topical, and injectable. The topical segment is anticipated to register more than USD 735 million by 2032, the study cites. Topical therapeutics lower the handling stress for fish and improve the outcomes, making them a highly popular alternative solution among fish farmers. Additionally, smaller fish and fry require topical immunizations before they can be vaccinated, boosting the demand for topical treatments, which is speculated to support segment expansion through 2032.
The aquaculture healthcare market is segmented based on distribution channels into retail/aqua stores, distributors, online stores, and others. The retail/aqua stores segment is estimated to generate more than USD 460 million in revenue by 2032 owing to the access to numerous therapeutic solutions at retail stores. The increasing availability of specialty products stocked for aquatic animals at aqua stores is estimated to fuel segment expansion.
Looking for region specific data?
Over the projection period, Asia Pacific aquaculture healthcare market is expected to expand at more than 9.5% CAGR. Among the world's top crustaceans producers are several APAC countries including Thailand, India, China, and Indonesia, which fuels increasing regional demand for crustacean medicinal products. Moreover, growing awareness among fish farmers on the importance of aquaculture healthcare is probably going to help to boost product acceptance, so improving the situation of the regional markets.
Aquaculture Healthcare Market Share
Enterprises involved in the aquaculture healthcare market include
- Virbac
- Zeal Aqua
- Phibro Animal Health Corporation
- Benchmark PLC
- Ceva Sante
- Archer Daniels Midland Company
- Elanco
- Merck
- Zoetis LLC
These companies are focused on reaching untapped markets to increase sales. For instance, in September 2020, Virbac, an animal health pharmaceutical firm, acquired a variety of tilapia vaccines from Ictyogroup, an animal health company specializing in R&D biology, and also signed a deal with Ictyogroup for the development of additional tilapia vaccines for the Aqua Virbac division.
COVID-19 Impact
The COVID-19 outbreak negatively impacted virtually all enterprises and caused economic activities to cease. The aquaculture and fishing sectors have been overlooked or disregarded while discussing measures to combat the grave conditions of the COVID-19 pandemic. The aquaculture healthcare industry's revenue was thus hampered during the pandemic owing to the low demand for aquaculture animals, resulting in a declining requirement for treatments for aquatic animals. However, in the post-pandemic scenario, the market is expanding due to the rising need for nutrient-dense food products, which is projected to supplement the business growth.
The aquaculture healthcare market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2018 to 2032 for the following segment
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By Product
- Drugs
- Parasiticides
- Anti-inflammatory
- Anti-infectives
- Others
- Vaccines
- Modified live vaccines
- Killed inactivated vaccines
- Others
- Medicated Feed Additives
- Amino Acids
- Antibiotics
- Antioxidants
- Enzymes
- Hormones
- Minerals
- Prebiotics and Probiotics
- Vitamins
- Others
By Species
- Fishes
- Freshwater
- Tilapia
- Carp
- Others
- Marine species
- Seabass
- Seabream
- Turbot
- Others
- Diadromous species
- Salmon
- Trout
- Others
- Freshwater
- Crustaceans
- Prawns
- Shrimps
- Others
- Others
By Infection
- Bacterial Infection
- Viral Infection
- Parasitic Infection
- Fungal Infection
By Route of Administration
- Oral
- Injectable
- Topical
By Distribution Channel
- Distributors
- Online stores
- Retail/Aqua stores
- Others
The above information is provided for the following regions and countries
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Spain
- Italy
- Denmark
- Iceland
- Ireland
- Norway
- Poland
- Turkey
- Asia Pacific
- China
- Vietnam
- Indonesia
- India
- Thailand
- Bangladesh
- Philippines
- Australia
- New Zealand
- Latin America
- Brazil
- Mexico
- Chile
- Middle East & Africa
- Iran
- Egypt
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