At 2.6% CAGR, Middle East & Africa Aquatic Veterinary Market is Projected to be Worth US$ 92.91 Million by 2030, says Business Market Insights

According to Business Market Insights' research, the Middle East & Africa aquatic veterinary market was valued at US$ 75.62 million in 2022 and is expected to reach US$ 92.91 million by 2030, registering a CAGR of 2.6% from 2022 to 2030. Surging demand for aquatic animal species for consumption and technological advancements in fish vaccines are among the critical factors attributed to drive the Middle East & Africa aquatic veterinary market growth.

Fishes, crabs, mussels, and lobsters are among the aquatic animals that are used for human consumption. The increasing demand for seafood results in a greater fish supply worldwide, which, in turn, boosts the aquaculture industry. Fishes have a rich nutritional profile, including vitamins, proteins, fatty acids, vital micronutrients, and minerals. They are known as an excellent source of omega-3 fatty acids. Omrega-3 fatty acids have been studied for their association with the reduction of risk of heart attacks, prevention of childhood asthma and depression, and improvement of brain health. As per the Organization for Economic Cooperation and Development (OECD), global fish production volume is expected to reach 200 metric ton by 2029. Further, nearly 90% of the fish produced (i.e., ~180 metric ton) would be consumed as food by humans by 2029.

Significant amounts of proteins, nutrients, and minerals are found in crabs. They have little saturated fat content and are an important source of omega-3 unsaturated fats-docosahexaenoic acid (DHA) and Eicosapentaenoic Acid (EPA). The nutrient profile of crabs has also been studied for its effects against joint pain and high vascular stress. Other benefits of crab consumption include bone and heart health improvements, and emotional well-being. The globally increasing consumption of aquatic animals is subsequently leading to an upsurge in production. With the increasing consumption of seafood, there is a growing need for high-quality produce, which requires proper nutrients and feeds. These nutrients and feeds can be provided by the administration of vaccines and supplements. Therefore, the growing demand for seafood products drives the Middle East & Africa aquatic veterinary market.

On the contrary, the stringent regulations for vaccine approvals hampers the growth of Middle East & Africa aquatic veterinary market.

Based on type, the Middle East & Africa aquatic veterinary market is bifurcated diagnostic and treatment. The treatment segment held 83.5% market share in 2022, amassing US$ 63.12 million. It is projected to garner US$ 78.31 million by 2030 to register 2.7% 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 Middle East & Africa aquatic veterinary market is segmented into fish, crustaceans, mollusca, and others. The fish segment held 71.1% share of Middle East & Africa aquatic veterinary market in 2022, amassing US$ 53.78 million. It is anticipated to garner US$ 67.61 million by 2030 to expand at 2.9% CAGR during 2022-2030.

Based on diseases source, the Middle East & Africa aquatic veterinary market is segmented into bacterial, viral, parasites, and others. The bacterial segment held 54.6% share of Middle East & Africa aquatic veterinary market in 2022, amassing US$ 41.32 million. It is projected to garner US$ 52.54 million by 2030 to expand at 3.0% CAGR from 2022 to 2030.

In terms of route of administration, the Middle East & Africa aquatic veterinary market is segmented into water medication, medicated feed, and other route of administrations. The water medication segment held 42.4% share of Middle East & Africa aquatic veterinary market in 2022, amassing US$ 32.03 million. It is projected to garner US$ 40.70 million by 2030 to expand at 3.0% CAGR from 2022 to 2030.

By country, the Middle East & Africa aquatic veterinary market is segmented into Saudi Arabia, South Africa, the UAE, and Rest of Middle East and Africa. Our regional analysis states that South Africa captured 34.4% share of Middle East & Africa aquatic veterinary market in 2022. It was assessed at US$ 25.98 million in 2022 and is likely to hit US$ 33.62 million by 2030, registering a CAGR of 3.3% during 2022-2030.

Key players operating in the Middle East & Africa 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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