Aquatic Veterinary Treatment Market is expected to reach US$ 1.6 billion by 2030

Publisher: The Insight Partners

Fish Segment to Lead Aquatic Veterinary Treatment Market Based on Species During 2022–2030

According to our new research study on “Aquatic Veterinary Treatment Market Forecast to 2030 – Global Analysis – by Treatment, Species, Disease Source, Route of Administration, and Geography,” the market was valued at US$ 1.2 billion in 2022. The aquatic veterinary treatment market size is projected to reach US$ 1.6 billion by 2030, and the market is expected to register a CAGR of 3.9% from 2022 to 2030. Key factors driving the market growth include the growing aquaculture industry, increasing prevalence of infectious diseases among aquatic animals, and surging demand for aquatic animal species for consumption. However, strict regulatory policies for vaccine approval and their high costs hinder the growth of the market.

Aquatic Veterinary Treatment Market Analysis Based on Segment:

In terms of treatment, the market is categorized into vaccines, medications, and supplements. The medications segment held a significant aquatic veterinary treatment market share in 2022. In addition, the segment is anticipated to register the highest CAGR in the market from 2022 to 2030.

Aquatic Veterinary Treatment Market, by Region, 2022(%)

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Source: The Insight Partners Analysis

By species, the market is segmented into fish, crustaceans, mollusca, and others. In 2022, the fish segment held the largest aquatic veterinary treatment market share and is anticipated to register the fastest CAGR during 2022–2030. Fish farming is also known as aquaculture, where fish are raised in enclosed areas. Commonly farmed species include salmon, tuna, trout, and halibut. Aquaculture involves cultivating fish in controlled environments such as ponds, tanks, or ocean enclosures. Fish farming is a notable source of seafood production to meet the increasing demand for fish protein worldwide. Salmon farming has grown immensely over the past decades. Key to this is an exceptional level of health control and the availability of safe and effective products to prevent and control diseases.

A few major factors that propel the growth of fish farming businesses are as follows:

• Rising demand for seafood – With the rapidly growing populations of various countries and a shift in dietary preferences toward healthier protein sources, there is a growing demand for fish and seafood products.
• Government support and regulations – Governments support aquaculture development through funding, incentives, and regulations to ensure sustainable and responsible fish farming practices.
• Health benefits of seafood – Burgeoning awareness about health benefits associated with consuming fish, such as omega-3 fatty acids, has increased the demand and consumption of farmed fish.

Sustainable aquaculture practices are also gaining importance as consumers and regulatory bodies prioritize environmentally friendly and ethical seafood production. Overall, the fish farming segment has significant opportunities for investment, technological innovation, and sustainable food production to meet the growing worldwide demand for fish seafood, thereby supporting the aquatic veterinary treatment market growth for the segment.

The scope of the aquatic veterinary treatment market report entails North America, Europe, Asia Pacific, South & Central America, and the Middle East & Africa. Asia Pacific is anticipated to register the highest CAGR in the market from 2022 to 2030. The rising aquaculture sector in the region, favorable government initiatives, and expansion and product launch strategies implemented by market players are projected to support the market growth in Asia Pacific during the forecast period. China and Japan are the major contributors to the growth of the market in the region.

The increasing prevalence of diseases in fish fuels the growth of the market growth. Anisakidosis, caused by anisakid larvae, is a critical fish-borne zoonosis. As per a study titled “Prevalence of Anisakid Nematodes in Fish in China,” published in 2022, anisakid nematodes were predominant in a broad range of fish species, and the overall pooled prevalence of these nematodes in fish was 45.5% in China. The highest prevalence rate of anisakid nematodes was observed in East China Sea fishes (76.8%). Thus, the growing disease among aquatic animals favors the aquatic veterinary treatment market growth.

In December 2020, Nordic Aqua Partners A/S, a Norwegian company with a subsidiary in Ningbo, Zhejiang province, began the construction of China’s first land-based salmon farm. This facility aims to provide ~36,000 metric tons of salmon annually to China. An increase in seafood production is also attributed to the growing consumption of seafood in the country and the rise in aquaculture activities. As per a 2020 report from the Stockholm Resilience Centre, China is expected to face an issue of overconsumption of seafood by 2030. According to the East Asia Forum, the total production output of the fishing industry in China was 65.49 million metric tons in 2020, 52.24 million metric tons of which came from domestic freshwater and offshore aquaculture. As per the Chinese Academy of Engineering Forecast, the entire aquaculture demand and production will grow from 81 million to 100 million metric tons by 2035. Therefore, progressing aquaculture activities in the country fuel the demand for aquatic veterinary treatment products and services. Thus, the above-mentioned factors are likely to continue to favor the growth of the aquatic veterinary treatment market in the region during the forecast period. Moreover, the aquatic veterinary treatment market trends include technological innovations in fish and aquatic animal vaccines.  

Merck & Co. Inc., Elanco Animal Health Inc., Zoetis LLC, HIPRA, Phibro Animal Health Corp, Boehringer Ingelheim Animal Health, Nisseiken Co. Ltd., VETERQUIMICA S.A., Microsynbiotix, and AquaTactics Fish Health are among the leading companies profiled in the aquatic veterinary treatment market report.  

Based on treatment, the market is classified into vaccines, medications, and supplements. In terms of species, the market is classified into fish, crustaceans, mollusca, and others. By disease source, the market is segmented into bacterial, viral, parasites, and others. Based on the route of administration, the market is categorized into water medication, medicated feed, and others. Geographically, the aquatic veterinary treatment market is divided into North America (the US, Canada, and Mexico), Europe (France, the UK, Germany, Spain, Italy, and the Rest of Europe), Asia Pacific (China, Japan, Australia, India, South Korea, and the Rest of Asia Pacific), the Middle East & Africa (Saudi Arabia, South Africa, the UAE, and the Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and the Rest of South & Central America).

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