June 18, 2024
Fish Skin Disease Market

Fish Skin Disease Market Is Projected To Driven By Increased Aquaculture

Fish skin diseases pose a major challenge for fish farmers and is one of the most common problems affecting both wild and farmed fish worldwide. Fish skin disease treatment involves the use of anti-parasitic, bacterial, and fungal drugs for the prevention and treatment of various skin infections and parasites affecting fish. The use of medications in fish farming helps improve fish health, growth, and survival while reducing infrastructure and food costs. Diseases affecting fish skin can negatively impact fish skin, scales, and fins and potentially lead to secondary infections. In severe cases, they can prove fatal for fish. Some common fish skin diseases include bacterial infections, parasitic infections, fungal infections like saprolegniasis. Fish skin disease treatment options include use of medicated fish feed and baths containing antibacterial, antifungal, and antiparasitic agents depending on the causative agent.

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 key trends:

One of the key trends in the fish skin disease treatment market is the growing focus on developing newer formulations. Researchers are developing newer treatment options that are safer, effective, and have lower impacts on the environment. For instance, studies are exploring the potential of plant-based drugs and treatments against fungal and bacterial infections in fish. Researchers from South Korea have identified antifungal compounds from citrus plants that show effectiveness against Saprolegnia parasites infecting fish without harming other organisms. Such alternative treatment solutions can help address antimicrobial resistance and support sustainable aquaculture practices.

Porter’s Analysis

Threat of new entrants: New entrants are limited due to high capital investments for fish farm infrastructure and operations.

Bargaining power of suppliers: Fish skin disease drug manufacturers have moderate bargaining power as there are several suppliers providing alternatives.

Bargaining power of buyers: Buyers have high bargaining power due to availability of generic alternatives from regional players.

Threat of new substitutes: Threat from substitutes is moderate as alternate treatment options provide limited scope for new substitutes.

Competitive rivalry: The fish skin disease market faces intense competition between major global players.

Key Takeaways

The Global Fish Skin Disease Market Demand is expected to witness high growth. 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 reveals that Asia Pacific holds a major market share currently due to growing tilapia and salmon farming in countries like China, India, Vietnam. The market in the region is projected to experience steady growth over the forecast period supported by rising aquaculture production.

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. Merck & Co., Inc., Bayer AG and Zoetis Inc. collectively hold over 35% market share globally. These players are focused on new product launches for salmon and tilapia skin disease treatment and geographic expansion into emerging markets.

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