Aquaculture Pharmaceuticals Market Size:
The Aquaculture pharmaceuticals market was valued at US$ 459.2 Mn in 2016 and poised to grow at CAGR 7.4%. over 2017-2023
Aquaculture Pharmaceuticals Market Overview:
Aquaculture Pharmaceuticals market report gives comprehensive outlook on aquaculture pharmaceuticals across the globe with special emphasis on key regions such as North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa (MEA). This report on aquaculture pharmaceuticals market gives historical, current, and future market sizes (US$ Mn) of stimulation system, disease indication, charging system, end-user, and geographic regions. This report studies aquaculture pharmaceuticals market dynamics elaborately to identify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, Aquaculture Pharmaceuticals market report includes recent product launches, regulatory scenario, and competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analysed aquaculture pharmaceuticals market to better equip clients with possible investment opportunities across the regions (Regional Investment Hot-Spots) and market unmet needs (Product Opportunities). Key stakeholders of the aquaculture pharmaceuticals market report include suppliers, manufacturers, marketers, policy makers engaged in manufacturing and supply of aquaculture pharmaceuticals.
Lack of generic drugs and increase in farmed fish production makes aquaculture pharmaceuticals more lucrative
Pharmaceuticals plays a pivotal role in aquaculture to prevent and treat aquatic animals from various microbial infections. Companies are betting heavily on research and development programs to develop novel drugs that can treat new infections in aquatic animals. For instance, in 2015, PHARMAQ, a part of Zoetis, Inc., invested in to produce fish vaccines in new facility at Klofta. Furthermore, lack of generic drugs to compete with inventor drugs makes more lucrative for the aquaculture pharmaceuticals manufacturers. In addition, global increase in farmed fish production than the wild catch are projected to boost aquaculture pharmaceuticals market over the forecast period. According to Food and Agriculture Organisation of the United Nations (FAO) estimates, the farmed fish production increased by 5.6% from 66.5 Mn tonnes (2013) to 70.2 Mn tonnes (2013).
Outbreak of new microbial infections effect the aquaculture pharmaceuticals:
Aquaculture industry suffered from many microbial outbreaks that resulted death of many aquatic animals. Lack of drugs/vaccines to new diseases are projected to hamper the growth of the aquaculture pharmaceuticals. Furthermore, antibiotic resistance to the aquatic animals is one of the factors that restraining the growth of aquaculture pharmaceuticals market.
Asia-Pacific market dominates the aquaculture pharmaceuticals owing to increase in aquaculture production. As per the Food and Agriculture Organisation of the United Nations (FAO) estimates, China is the largest contributor for aquaculture production. It accounts more than 70% of the world’s total production. India, Vietnam, Thailand and Other ASEAN countries are also responsible for the growth of aquaculture pharmaceuticals market in Asia-Pacific region. In Europe, Norway is the key market for the aquaculture pharmaceuticals market.
Key player’s profiles in the global aquaculture pharmaceuticals market include:
- Elanco (Eli Lilly and Company) (U.S.)
- Intervet Inc., (Merck & Co., Inc.,) (U.S.)
- Bayer AG (Germany)
- PharmaQ AS (Zoetis, Inc.,)
Aquaculture pharmaceuticals players emphasizing more on launch new drugs into the market. Furthermore, they are actively expanding their business into new regions specifically on Asia-Pacific as the market more centered towards the region. For instance, in 2012, Intervet Inc., a subsidiary of Merck & Co., AQUAVAC IridoV, received the market authroisation in Singapore to boost their immunity against iridovirus. Company also recently launched AQUAVAC Strep Sa vaccine in Indonesia that protects tilapia and other fishes from Streptococcus agalactiae infections. In June 2017, Elanco (Eli and Lilly Company) Clynav got market authorization from the European Commission. Clynav is the first DNA vaccine that can protect the Salmon from salmanoid alphavirus subtype 3 (SAV 3).
- North America
- Rest of Europe
- Australia & New Zealand
- ASEAN (Includes Indonesia, Thailand, Vietnam, Philippines, Malaysia, and Others)
- South Korea
- Rest of Asia-Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa (MEA)
- Gulf Cooperation Council (GCC) Countries
- South Africa
- Rest of MEA
Key Findings of the Report:
- Aquaculture Pharmaceuticals market expanding at XX% CAGR over 2017 to 2013 to reach market value of US$ XX Mn by 2023
- Based on product type, biologics accounted for larger market share in 2016 owing to their usage in aquaculture to prevent aquatic animals from microbial infections
- Salmon and Tilapia segment projected to be most lucrative market in global aquaculture pharmaceuticals market
- Players focusing on inorganic growth to enhance their market share
Key Features of the Report:
- The report provides granular level information about the market size, regional market share, historic market (2012-2016) and forecast (2017-2024)
- The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
- The report tracks recent innovations, key developments and startup’s details that are actively working in the market
- The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
- The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market