The fish skin disease market comprises products such as drugs and medicated feed for treating various infections affecting fish skin health. Fish skin diseases can reduce fish production and quality of harvested fish. Products in this market help combat infections caused by bacteria, parasites, and fungi. The global fish skin disease market is extensively dependent on the aquaculture industry as fish farming continues to intensify to meet the growing seafood demand.
The global fish skin disease Market is estimated to be valued at US$ 1.84 Mn in 2023 and is expected to exhibit a CAGR of 4.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Opportunity:
Aquaculture is one of the fastest growinganimal food producing sectorsand it is projected that aquaculture will account for over half of allseafood for human consumption by 2030.The intensification of fish farming practices increases the risk of disease outbreaks, thereby raising the demand for effective therapeutics and medicated fish feed.The rising aquaculture industrydriven by growingseafood consumption worldwide presentssignificant opportunities for players in the fish skin disease marketto cater to the increasing need for prevention and control of infections.
Porter’s Analysis
Threat of new entrants: The fish skin disease market contains low threat of new entrants as it requires high R&D investments and regulatory approvals. However some new firms can enter with novel products.
Bargaining power of buyers: Fish farmers have moderate bargaining power due to availability of substitute treatments.
Bargaining power of suppliers: Suppliers have moderate bargaining power due to differentiated products and technologies required.
Threat of new substitutes: Threat of substitutes is low as limited alternate treatment options are available for fish skin disease treatment.
Competitive rivalry: The market contains key global players offering differing products.
SWOT Analysis
Strengths: Strong product pipelines and R&D investments by key players. Increasing fish farming and demand for effective fish skin disease treatments.
Weaknesses: High costs of treatment and lack of awareness in some regions. Dependence on climate and environmental conditions.
Opportunities: Growth in aquaculture industry in developing nations. Novel drug development for resistant bacterial strains.
Threats: Heavy regulation and approval times for veterinary drugs. Environmental pollution affecting fish health.
Key Takeaways
The Global Fish Skin Disease Market Size is expected to witness high growth over the forecast period due to expanding aquaculture industry worldwide. The global Fish Skin Disease Market is estimated to be valued at US$ 1.84 Mn in 2023 and is expected to exhibit a CAGR of 4.1% over the forecast period 2023 to 2030.
Regional analysis comprises fastest growing Asian markets for fish skin disease treatment like India, Bangladesh, Vietnam and Thailand due high fish farming activities. China dominates presently due to largest aquaculture production globally however new policies can impact market. Latin America and Eastern Europe also show high future potential.
Key players operating in the fish skin disease market are Bayer AG, Zoetis Inc., Boehringer Ingelheim GmbH, Merck & Co., Inc., Virbac S.A., Ceva Santé Animale, Elanco Animal Health, Bimeda, Aurobindo Pharma Limited, and Teva Pharmaceutical Industries Ltd.
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