At 4.3% CAGR, Asia Pacific Aquatic Veterinary Market is Projected to be Worth US$ 406.89 Million by 2030, says Business Market Insights

According to Business Market Insights' research, the Asia Pacific aquatic veterinary market was valued at US$ 289.44 million in 2022 and is expected to reach US$ 406.89 million by 2030, registering a CAGR of 4.3% from 2022 to 2030. Development of novel fish vaccines and government initiatives to develop aquaculture industry are among the critical factors attributed to drive the Asia Pacific aquatic veterinary market growth.

The emergence of disease outbreaks caused by parasites, viruses, and bacteria has slowed down the evolution of the global aquaculture industry for several decades. In addition to their potentially harmful effects on human health, these diseases significantly hamper aquatic animals and aquaculture businesses. Traditional vaccines have limitations and drawbacks, which bolsters the demand for the development of novel advanced products such as chimeric multiepitope vaccines. Scientific advancements have opened up newer avenues in the basic and applied research fields of aquatic vaccines. Efforts are being made to create novel aquatic vaccines with higher quality and efficiency using new approaches and strategies. Available bioinformatics tools and the modern knowledge of immunoproteomics and genomics allow researchers to identify potential targeted epitopes that can be recognized by immune cells. Further, as the cost of techniques such as whole genome sequencing continues to decline, it opens the way for species-specific vaccine development. In 2021, the Central Institute of Brackishwater Aquaculture (ICAR) launched a recombinant vaccine against viral nervous necrosis (VNN) in India. Thus, the development of an effective mucosal vaccine with robust administration processes is expected to accelerate the novel vaccine development in the coming years, thereby creating significant opportunities for the Asia Pacific aquatic veterinary market growth.

On the contrary, the stringent regulations for vaccine approvals hampers the growth of Asia Pacific aquatic veterinary market.

Based on type, the Asia Pacific aquatic veterinary market is bifurcated diagnostic and treatment. The treatment segment held 83.6% market share in 2022, amassing US$ 242.11 million. It is projected to garner US$ 348.01 million by 2030 to register 4.6% CAGR during 2022-2030. The diagnostic segment is further sub segmented into serological, molecular, DNA sequencing, and other diagnostics. The treatment segment is further sub segmented into vaccines, medications, and supplements.

By species, the Asia Pacific aquatic veterinary market is segmented into fish, crustaceans, mollusca, and others. The fish segment held 56.7% share of Asia Pacific aquatic veterinary market in 2022, amassing US$ 164.23 million. It is anticipated to garner US$ 243.13 million by 2030 to expand at 5.0% CAGR during 2022-2030.

Based on diseases source, the Asia Pacific aquatic veterinary market is segmented into bacterial, viral, parasites, and others. The bacterial segment held 54.3% share of Asia Pacific aquatic veterinary market in 2022, amassing US$ 157.10 million. It is projected to garner US$ 235.43 million by 2030 to expand at 5.2% CAGR from 2022 to 2030.

In terms of route of administration, the Asia Pacific aquatic veterinary market is segmented into water medication, medicated feed, and other route of administrations. The water medication segment held 45.3% share of Asia Pacific aquatic veterinary market in 2022, amassing US$ 131.20 million. It is projected to garner US$ 194.96 million by 2030 to expand at 5.1% CAGR from 2022 to 2030.

By country, the Asia Pacific aquatic veterinary market is segmented into China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific. Our regional analysis states that China captured 24.9% share of Asia Pacific aquatic veterinary market in 2022. It was assessed at US$ 72.19 million in 2022 and is likely to hit US$ 111.62 million by 2030, registering a CAGR of 5.6% during 2022-2030.

Key players operating in the Asia Pacific aquatic veterinary market are Aquatic Diagnostics Ltd, Ceva Polchem Pvt Ltd, Elanco Animal Health Inc, HIPRA SA, Merck KGaA, Phibro Animal Health Corp, Thermo Fisher Scientific Inc, Virbac SA, and Zoetis Inc, among others.


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