Selbyville, Delaware, Feb. 11, 2020 (GLOBE NEWSWIRE) --
Global Market Insights, Inc. has recently added a new report on aquafarming healthcare market which estimates the global market valuation for aquafarming healthcare will cross US$ 1 billion by 2026. Growing demand for fish protein across the world along with the growing aquaculture industry will raise the demand for aquaculture healthcare products, propelling the market expansion.
The crustacean species segment is expected to grow at 6.5% CAGR over 2020-2026. The high growth rate can be attributed to the growing demand for crustaceans and the large crustacean aquaculture market in south Asian countries. Furthermore, increasing demand for prawns and shrimps will boost the crustacean aquaculture market. The growing market will stimulate the demand for healthcare solutions for the animals, bolstering the aquaculture healthcare market.
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Growing incidences of diseases and parasites in farmed fish will significantly boost the fish farming healthcare market. Farmed fish, like other farmed animals show an increased incidence of diseases. Factors such as low oxygen content, poor water & nutrition quality, and crowded conditions on fish farms increase the susceptibility of aquatic animals to diseases. This increased incidence of diseases will boost the demand for therapeutic solutions, spurring the aquafarming healthcare market.
The drug segment held 55.5% market share in 2019 and is poised to exhibit robust growth. The drug segment includes parasiticides, anti-inflammatory, and anti-infective drugs. Furthermore, innovative products which treat parasites such as sea-lice will contribute to boosting the product demand over the analysis timeframe.
Aquatic animals exhibit infections such as bacterial, viral, parasitic, and fungal infections. The parasitic infection segment was valued at USD 148.3 million in 2019 and is poised to be a fast-growing segment. Increased susceptibility of aquatic animals to parasites such as sea lice and sea fleas will contribute to drive the demand for therapeutics to treat parasitic infections. Furthermore, species such as salmon show a high rate of sea-lice infection. Innovative products to treat these infections will boost the demand for anti-parasitic therapeutics, propelling the segment growth.
Browse key industry insights spread across 420 pages with 830 market data tables & 19 figures & charts from the report, “Aquaculture Healthcare Market Share & Forecast, 2020 – 2026” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/aquaculture-healthcare-market
Based on route of administration, the topical segment held 33.4% fish farming market share in 2019 and will showcase substantial growth over the forecast period. Ease of use of topical application such as baths and sprays will contribute to higher product demand. Topical therapeutics reduce handling stress for fish, resulting in better outcomes. Furthermore, smaller fish and fry need topical vaccines before they’re capable of being vaccinated. These factors will boost the demand for topical therapeutics, boosting the segment expansion over the analysis timeframe.
The aquaculture market by distribution channel is segmented into distributors, online stores, and retail/aqua stores. The retail/aqua stores segment will exhibit a 5.9% CAGR over the analysis timeframe. The growth can be attributed to the availability of various therapeutic solutions at retail stores. Furthermore, aqua stores stock specialty products for aquatic animals, availability of these will foster the segment growth over the forecast period.
North American aquafarming healthcare market was valued at USD 75.8 million in 2019. Canada held the largest market share and will see robust growth over the analysis timeframe. A large aquaculture market in Canada and the presence of key regional players in the North American market will primarily drive the market growth.
Some major findings of the aquafarming healthcare market report include:
- Increasing demand for fish protein across the world and a rise in aquaculture business will be a major factor contributing to the market expansion.
- Growing incidence of diseases and parasites in farmed fish will drive the market.
- Few notable companies operating in the aquafarming healthcare market include Zoetis, Merck, Elanco, DuPont, Vetoquinol, Archer Daniels Midland Corporation and Benchmark PLC.
- These market players are implementing various strategies to increase their geographical presence and consolidate their market share.
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Partial chapters of report table of contents (TOC):
Chapter 2. Executive Summary
2.1. Aquaculture healthcare industry 360⁰ synopsis, 2015 - 2026
2.1.1. Business trends
2.1.2. Product trends
2.1.3. Species trends
2.1.4. Infection trends
2.1.5. Route of administration trends
2.1.6. Distribution channel trends
2.1.7. Regional trends
Chapter 3. Aquaculture Healthcare Market Insights
3.1. Industry segmentation
3.2. Industry landscape, 2015 - 2026
3.3. Industry impact forces
3.3.1. Growth drivers
3.3.1.1. Increasing demand for fish protein across the world
3.3.1.2. Growing incidence of diseases and parasites in farmed fish
3.3.1.3. Growing R&D efforts by key market players to bring new solutions for aquaculture healthcare
3.3.2. Industry pitfalls & challenges
3.3.2.1. Aversion to farmed fish due to health concerns
3.3.2.2. Lack of knowledge regarding diseases in aquatic animals
3.3.2.3. Concerns over growing antibiotic resistance due to widespread use
3.4. Growth potential analysis
3.4.1. By product
3.4.2. By species
3.4.3. By infection
3.4.4. By route of administration
3.4.5. By distribution channel
3.5. Porter's analysis
3.6. Competitive landscape, 2019
3.6.1. Company share analysis, 2018
3.6.2. Competitive matrix analysis
3.7. PESTEL analysis
Browse complete report table of contents @ https://www.gminsights.com/toc/detail/aquaculture-healthcare-market
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.