The aquaculture therapeutics market is anticipated to flourish at a steady CAGR of 8.6% between 2023 and 2033. The market is expected to hold a market share of USD 3.98 billion by 2033, while the market is likely to reach a value of USD 1.74 billion in 2023.
The demand for aquaculture therapeutics is anticipated to rise due to the need for effective aquaculture treatment. Furthermore, the rising prevalence of bacterial illnesses among aquaculture species drives the market growth.
Growing global fish consumption and advancements in aquaculture output are some factors driving the sales of aquaculture therapeutics during the forecast period. Growing veterinary medicine research and development is likely to support the expansion of the market share. In addition to treating illnesses, medications are also utilized in aquaculture to enhance the health of the fish, which has boosted the adoption of aquaculture therapeutics.
| Attributes | Details |
|---|---|
| Market CAGR (2023 to 2033) | 8.6% |
| Market Size (2023) | USD 1.74 billion |
| Market Size (2033) | USD 3.98 billion |
The increased production of aquaculture species is projected to boost the market share forward. Furthermore, increased veterinary care guideline adoption and financing for animal care are projected to promote the adoption of aquaculture therapeutics. However, the adverse effects of antibacterial medications on environmental factors impede the expansion of the aquaculture therapeutics market.
The list of drugs in the market includes chorionic gonadotropin, formalin solution, florfenicol, oxytetracycline, tricaine methane sulfonate, hydrogen peroxide, sulfamethazine/ormetoprim combination, acetic acid, calcium chloride. These drugs take care of the aquatic animals by curing several diseases which are harmful to the aquatic animals and the consumer, boosting the demand for aquaculture therapeutics throughout the projected period.
Despite the long tradition of practicing aquaculture in several countries, the aquaculture therapeutics market is still growing due to numerous growth potentials. Moreover, as humans consume the fish or the animals, the FDA has set up certain regulatory guidelines for the drugs to be administered to the fishes in aquaculture, where they are categorized as conditionally approved and indexed animal drugs.
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Multiple breakthroughs are being made in aquaculture therapeutics as there are several diseases affecting the animals cultivated in aquaculture, which are propelling the sales of aquaculture therapeutics during the forecast period. As a result of this factor, the market size is anticipated to grow throughout the forecast period.
Developments in aquaculture therapeutics, as well as increased demand for aquaculture therapeutics, are expected to accelerate the aquaculture therapeutics market growth. Furthermore, the adoption of aquaculture therapeutics is growing due to the diminish in oceanic fishes and the increasing global fish consumption. As a result, the demand for aquaculture therapeutics is likely to boost from 2022 to 2032.
| Country | Revenue Share % (2022) |
|---|---|
| United States | 30.5% |
| Germany | 6.3% |
| Japan | 4.7% |
| North America | 34.5% |
| Europe | 28.6% |
| Country | CAGR % (2023 to 2033) |
|---|---|
| China | 11.7% |
| India | 9.6% |
| United Kingdom | 6.7% |
| Australia | 8.5% |
In 2022, North America held a sizable aquaculture therapeutics market share, accounting for about 34.5%. One of the key factors driving the aquaculture therapeutics market growth is the rising adoption of aquaculture therapeutics by aquaculture key players to increase their income.
Therapeutics in aquaculture are the kind that is used to cure fish infections. Antibody used for aquaculture is restricted and regulated in several nations, which is anticipated to boost aquaculture therapeutics market revenue. The demand for aquaculture therapeutics is also enhanced as a result of a rise in aquaculture farming in several of the region's nations.
Europe's aquaculture therapeutics market held a share of 28.6% in 2022. Strict environmental rules and a heavy administrative burden that hinders economic development are frequently blamed for the general poor production and lack of growth. In spite of this, the EU's Blue Creation Strategy names the aquaculture industry as one of the top five industries with the greatest potential for long-term job growth and expansion, in turn expanding the overall aquaculture therapeutics market size.
Principal Consultant
| Category | By Product Type |
|---|---|
| Leading Segment | Oxytetracycline |
| Market Share (2022) | 26.70% |
| Category | By End User |
|---|---|
| Leading Segment | Veterinary Clinics |
| Market Share (2022) | 40.20% |
Based on product type, oxytetracycline leads the market with 26.70% in 2022, while the end user category is dominated by the veterinary clinics segment, with a market share of 40.20% in the same year.
A surge in start-ups in aquaculture therapeutics and aquaculture-based businesses has increased significantly recently across the globe, attributed to numerous factors. For example, Dynaspace, a Norwegian start-up, offers aquaculture monitoring. The company processes high-resolution multispectral and radar satellite photos using computer vision and machine learning (ML).
With the help of its cloud-based image processing technology, InsightSPHERE, raw data is transformed into useful insights. Data on productivity and pond activity, analyses of disease outbreaks, production cycles, and forecasts are all displayed on the platform's dashboard. Farmers can increase operational openness in aquaculture farms because of this.
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Some key growth tactics companies employ in aquaculture therapeutics to augment profitability and enhance their market share include acquisition, merger, partnership & agreement, and geographical expansion.
Recent Developments:
This market is estimated to reach USD 3.98 billion by 2033.
The United States, India, and China dominate the global market.
North America accounts for about 34.5% of market share.
Developments in aquaculture therapeutics raise market growth.
North America is projected to emerge as a lucrative market.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product Type 5.1. Chorionic Gonadotropin 5.2. Formalin Solution 5.3. Florfenicol 5.4. Oxytetracycline 5.5. Tricaine Methane Sulfonate 5.6. Hydrogen Peroxide 5.7. Sulfadimethoxine/Ormetoprim Combination 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End Use 6.1. Veterinary Pharmacies 6.2. E-commerce 6.3. Veterinary Clinics 6.4. Veterinary Hospitals 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 7.1. North America 7.2. Latin America 7.3. Western Europe 7.4. Eastern Europe 7.5. South Asia and Pacific 7.6. East Asia 7.7. Middle East and Africa 8. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 9. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Key Countries Market Analysis 16. Market Structure Analysis 17. Competition Analysis 17.1. TunaTech GmbH 17.2. ViAqua Therapeutics Ltd 17.3. Alpharma, Inc. 17.4. Green Life Aquaponics 17.5. Aquaponics USA 17.6. Nelson and Pade Inc. 17.7. Pentair Aquatic Ecosystems 17.8. Agroseguro 17.9. Aqua Bite 17.10. NEREUZ 18. Assumptions & Acronyms Used 19. Research Methodology
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Aquaculture Therapeutics Market
