Fish Skin Disease Market is Estimated To Witness High Growth Owing To Increased Aquaculture.

The Fish Skin Disease Market is estimated to be valued at US$ 1.84212 Mn in 2023 and is expected to exhibit a CAGR of 7.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Fish skin disease refers to infections or abnormalities that affect the skin of fish. Some common fish skin diseases include fungal infections, bacterial infections, parasitic infections, among others. Fish skin diseases can spread rapidly and cause mass deaths among fish population if left untreated. Effective antibiotics, vaccines, and medications are used in aquaculture farms and hatcheries to treat and prevent fish skin diseases.

Market key trends:

One of the key trends driving growth of the fish skin disease market is increasing focus on aquaculture. Aquaculture is the fastest growing food production system globally and accounted for around half of all seafood produced for human consumption according to FAO. Stress factors, overcrowding of fish, and poor water quality in intensive aquaculture farms increase susceptibility of farmed fish to skin infections and diseases. This has raised the demand for effective fish skin disease treatment and prevention solutions.

Porter’s Analysis

Threat of new entrants: The fish skin disease market has high set up and regulatory costs involved which discourage new players to enter the market.
Bargaining power of buyers: Buyers have moderate bargaining power in the fish skin disease market due to presence of large suppliers and availability of treatment alternatives.
Bargaining power of suppliers: Suppliers have low to moderate bargaining power due to availability of substitute treatment alternatives.
Threat of new substitutes: Moderate threat due to availability of alternate treatment options.
Competitive rivalry: High as major players compete on basis of treatment effectiveness and quality.

SWOT Analysis

Strength: Presence of large player base with global presence and strong R&D capabilities.
Weakness: High manufacturing costs and stringent regulations.
Opportunity: Increasing aquaculture industry worldwide provides growth opportunities.
Threats: Threat from alternate treatment options and environmental changes affecting fish health.

Key Takeaways

The Global Fish Skin Disease Market Demand is expected to witness high growth, exhibiting CAGR of 7.1% over the forecast period, due to increasing aquaculture industry and governmental support. The Asia Pacific region is expected to dominate the global market over the forecast period due to increasing fish consumption and farming activities in countries like China and India.

Regional analysis The Asia Pacific region dominates the global fish skin disease market and is expected to grow at fastest rate during the forecast period. Countries like China, India, Vietnam, Indonesia and Bangladesh are major producers of fish worldwide and increasing aquaculture activities in these countries will drive the demand.

Key players operating in the fish skin disease market are Zoetis Inc., Elanco Animal Health, MSD Animal Health, Benchmark Holdings, Phibro Animal Health Corporation, Intervet Inc., Norvartis, Merck Animal Health, Novartis AG, Pharmaq AS, AquaBounty Technologies, Alltech, Skretting and Nutreco. Major players are focusing on developing effective treatment systems and vaccines to control fish skin diseases and expand their market presence globally.

 

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it