Aquaculture Healthcare Market to hit USD 2 billion by 2032, says Global Market Insights Inc.
Aquaculture Healthcare Industry is predicted to register 8.5% CAGR between 2023 and 2032 owing to lack of knowledge regarding diseases in aquatic animals.
Selbyville, Delaware, Jan. 18, 2023 (GLOBE NEWSWIRE) --
Aquaculture healthcare market value is expected to surpass USD 2 billion by 2032, according to a new research report 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.
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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 demand. 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.
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: