What's driving the Aquaculture Healthcare Market trends? Key major players are Zoetis LLC, DuPont, Merck, Ceva Sante, Elanco
Aquaculture healthcare market is estimated to record substantial rate of growth over the forthcoming timeframe. Aquaculture is the farming of aquatic organisms which include molluscs, fish, aquatic plants and crustaceans. Based on the product spectrum, the market is segmented into drugs, medicated feed additives, and vaccines. Among these, the vaccines segment is likely to expand at a CAGR of over 6.4% throughout the forecast duration due to increasing instances of antibiotic resistance. The vaccination of fish has become the most important, easy as well as effective approach to prevent and control infectious diseases in fish.
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Vaccination is a process through which protective immune response is stimulated in animals administering preparation of antigens that are derived from pathogens and then made non-pathogenic using heat or some other ways. Vaccines prompts fish immune response as well as increase protection against diseases.
Substantial progress has been made for producing effective fish vaccines. At present, vaccines are available for few economically important species of fish to address and treat viral and bacterial diseases.
With respect to species, the market is classified into fish, crustaceans, and others. Among these, crustaceans is set to witness growth of 6.5% between 2020 and 2026 owing to increasing consumption of shrimps and prawns.
others. Among these, the online stores will show significant expansion of more than 6% between 2020 to 2026. The availability of large variety of drugs through online distribution channel will boost aquaculture healthcare market growth.
Also, there is a growing preference for online shopping among customers. The above factors are likely to increase the demand for online stores.
From a regional frame of reference, Latin America aquaculture healthcare market was valued at more than $110 million in 2019 and is projected to grow at more than 6% in coming years. The seas of Latin America as well as the Caribbean are a valuable resource for thousands of families as well as a source of healthy food, thereby leading to the demand for aquaculture healthcare in the region.
With respect to infection, the market is bifurcated into viral infection, bacterial infection, fungal infection, and parasitic infection. Among these, the fungal infection segment accounted for revenue of $19.9 million in 2019.
Fungi have the ability to exploit any failures within a fish's environment and could affect fish at any stage in their development. In commercial fish farming, fungi are most commonly a problem during the freshwater phase of development.
Based on route of administration, the market is divided into oral, topical, and injectable. Among these, the injectables segment registered a market share of more than 55% in 2019. Injection vaccines usually include an water based or oil-based compound known as an adjuvant, which serves to stimulate the immune system.
Furthermore, injection vaccination permits direct delivery of a small volume of antigen into the body cavity or the muscle, thereby allowing for more direct stimulation of immune response that is systematic. Based on distribution channel, the market is divided into online stores, retail/aqua stores, distributors.
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