Aquaculture Pharmaceuticals Market SWOT Analysis By Key Factors From 2021-2027 | Eli Lilly And Company, Intervet Inc, Bayer AG And Zoetis, Inc.

Precision Business Insights published a research report on “Aquaculture Pharmaceuticals Market: By Product type (Biologics, Parasiticides, Anti-infectives, Reproduction, and Others), Species (Carps, Salmon, Tilapia, Shrimp, Catfish, Trout, and Others) and Geography - Global/Region/Country Forecast to 2027”

The aquaculture pharmaceuticals market is projected to grow from USD 30.1 billion in 2018 to USD 42.6 billion by 2023, recording a CAGR of 7.2% during the forecast period.

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Aquaculture, often known as fish farming, is the practice of rearing, breeding, cultivating and harvesting fish, algae, shellfish, and other aquatic creatures in a controlled environment. Freshwater ponds, Coastal ocean waters, rivers, and on-land tanks are generally used. This helps with food production, vulnerable, habitat restoration, and critically endangered populations, and aquarium construction. It also reduces waste by creating fish and shellfish feed, ensuring a healthy and natural reproductive habitat for the aquatic population, and maximizing the use of natural and agricultural resources. Aquaculture also comprises ornamental fish production to serve industrial and leisure marine fisheries.

One of the primary drivers driving the market's expansion is the excess supply for seafood, as well as the increased cultivation of aquatic animals. Similarly, rising demand for fish oil throughout a variety of industries, including pharmaceuticals, food and beverage, and nutraceuticals, is propelling the market forward. Fish breeders are becoming progressively aware of the advantages of implementing efficient aquaculture initiatives to achieve water quality and sustain overall ecological integrity. They'll also utilize cutting-edge technology to monitor the water, assess fish movement, and handle the logistics facility. Extensive research and development (R&D) activities, also including genetic advancements in finfish species, fish reproductive control, chromosomal manipulation, and parasite disease detection in aquatic animals in off-shore and open oceans, are also predicted to fuel the market. Because there are various diseases that afflict aquaculture creatures, a lot of progress is being made in the field of aquaculture therapies. The aquaculture therapeutics market is driven by a number of diseases. The majority of these diseases are reliant on sanitary conditions that must be sustained.

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The global aquaculture therapeutics market has been fragmented based on end–user, product type, and geography. Based on Product Type, the aquaculture therapeutics market is categorized into Formalin Solution, Chorionic Gonadotropin, Oxytetracycline, Florfenicol, Hydrogen Peroxide, Tricaine Methane Sulfonate, and Ormetoprim/ Sulfadimethoxine combination. Based on end-user, the aquaculture therapeutics market is classified into veterinary hospitals, veterinary pharmacies, veterinary clinics and e-Commerce. Based on Environment, the aquaculture therapeutics market is separated into marine water, fresh water, and brackish water.

The market's largest share belonged to Asia Pacific. This is due to an increase in demand for innovative and cutting-edge aquaculture goods that assist producers produce higher-quality output with less land and improve the efficiency of aquatic ecosystems. Furthermore, aquaculture industries in countries like China, India, Vietnam, Indonesia, and Thailand are export-oriented; the aquafarming segment is of prime significance in these regions, with players focusing on technological innovation and mechanization, which is expected to benefit the market in this region.

The major key players in the global aquaculture pharmaceuticals market are:
Elanco (Eli Lilly and Company) (U.S.)
Intervet Inc., (Merck & Co., Inc.,) (U.S.)
Bayer AG (Germany)
PharmaQ AS (Zoetis, Inc.,)

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