Fish Skin Disease Market Size Will Reach $2.98 Billion by 2030 at 7.1% CAGR, Says Coherent Market Insights
Fish skin disease, also known as fish scale disease or ichthyosis, is a dermatological condition that affects fish. It is characterized by the abnormal development and appearance of the fish's scales, leading to various symptoms and health problems.
/EIN News/ -- Burlingame, July 13, 2023 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, global fish skin disease market is estimated to be valued at US$ 1.72 billion in 2022 and is expected to exhibit a CAGR of 7.1% during the forecast period (2023-2030).
Analysts’ Views on Global Fish Skin Disease Market
Fishes that are kept in captive and are farmed majorly face skin diseases, which affects their welfare. Fish having skin lesions can be visibly impaired and be disabled in their environment, specifically for swimming, escaping, or eating. These diseases can cause bacterial infections in these fishes, which then becomes hard to treat and impacts the water quality in the net pet or the tank. Most of these skin diseases occur due to protozoans and various bacteria as well as fungi. These commonly get introduced in scrapes and cuts of fish while tank cleaning, handling, transporting, feeding, and breeding. There are different options of treatment such as probiotic, vaccines, and antibiotics among others available to treat this condition.
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Key Trends and Analysis of the Global Fish Skin Disease Market:
The global fish skin disease market is witnessing trend of rise in development of novel antibiotic alternatives. As concerns regarding the overuse of antibiotics is increasing in aquaculture industry, the focus on development of alternative treatments for fish skin diseases is increasing among market players. The R&D activities for novel alternatives include developing phage therapy, probiotics, and natural treatments. Thus, with increasing development activities for novel alternatives of antibiotics, the global fish skin disease market is anticipated to show significant growth in the coming future.
Global Fish Skin Disease Market – Drivers
Increase in fish skin disease burden and growing awareness to augment growth of the market
Among several other factors, growing burden of this disease is a major factor driving the market growth. Various factors such as changing water temperatures, environmental pollution, and fish migrations between regions, are responsible for the rise in prevalence of fish skin diseases. As a result, the demand for fish skin disease treatment is increasing. Along with this, the awareness among people around the world about these diseases is increasing. These factors are expected to fuel growth of the global fish skin disease market over the forecast period.
Fish Skin Disease Market Report Coverage
| Report Coverage | Details | |||
| Base Year: | 2022 | Market Size in 2022: | US$ 1.72 Bn | |
| Historical Data for: | 2017 to 2021 | Forecast Period: | 2023 - 2030 | |
| Forecast Period 2023 to 2030 CAGR: | 7.1% | 2030 Value Projection: | US$ 2.98 Bn | |
| Geographies covered: |
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| Segments covered: |
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| Companies covered: | Zoetis Inc., Elanco Animal Health, MSD Animal Health, Benchmark Holdings, Phibro Animal Health Corporation, Intervet Inc., Norvartis, Merck Animal Health, Novartis AG, Pharmaq AS, AquaBounty Technologies, Alltech, Skretting, Nutreco, Biomin | |||
| Growth Drivers: |
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| Restraints & Challenges: |
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Rise in launch of new therapies/treatments by market players to boost the market growth
Increasing number of market players are focusing on launch of novel therapies/treatments for fish skin diseases. For instance, in April 2023, Kerecis introduced MariGen Shield, a novel solutions that is mixture of a silicon contact layer and fish-skin graft of the company. The novel solution helps treat complex and chronic wounds. The silicon layer in the novel solution anchors the round graft in position, helps in safeguarding granulation of the wound as well as the fish-skin graft after applying a cover dressing. With the launch of such novel solutions, the demand for fish skin disease treatment is likely to increase, which in turn is expected to support the market growth in the near future.
Global Fish Skin Disease Market – Restrain
Regulatory hurdles to impede growth of the market
The approval procedures for novel therapies and treatments can be complex and lengthy. The hurdle posed by such regulatory processes can make development of novel treatments for fish skin diseases challenging for companies. This further limits the ability of companies to create novel products and also slows down the innovation pace. Thus, this factor is further expected to limit growth of the global fish skin disease market over the forecast period.
Global Fish Skin Disease Market – Opportunities
Growing demand for sustainable and natural treatment is expected to generate growth opportunities in the global fish skin disease market during the forecast period. The sustainable and natural treatments for fish skin diseases can reduce the environmental impact of aquaculture practices. Due to their environmentally-friendliness, the demand for such treatments is increasing all over the world. This factor in turn is likely to bring several lucrative opportunities in the global market.
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Global Fish Skin Disease Market - Key Developments
In 2021, MSD Animal Health introduced a novel vaccine, AQUAVAC PD3 that offers protection against salmonid alphavirus subtype 3 (SAV3) and Piscine orthoreovirus (PRV) in salmon.
In 2020, Phibro Animal Health Corporation introduced V-PLEX LINCOMIX, a novel antibiotic water-soluble powder utilized in treatment of bacterial infections, which also includes ones that lead to fish skin diseases in various fish species.
In 2020, Elanco Animal Health completed acquisition of Bayer AG, an animal health business. The acquisition includes an aquaculture product portfolio, such as vaccines and antibiotics for fish health.
In 2019, Benchmark Holdings announced acquisition of INVE Aquaculture for €342 million. INVE Aquaculture is a leader in health and nutrition solutions for shrimps and fish.
Key Market Takeaways:
Global Fish Skin Disease market is expected to exhibit a CAGR of 7.1% during the forecast period. The fish skin disease market is growing rapidly in response to the increasing growth of aquaculture industry. With rise in demand for seafood and fish along with declined wild fish stocks, the aquaculture industry is growing rapidly. As a result, the prevalence of fish skin disease is increasing with multiplied fish population living together.
On the basis of Type of Disease, Bacterial Infections Segment is expected to dominate the market during the forecast period and this is attributed to the growing prevalence of bacterial infections among aquaculture fish species.
On the basis of Treatment Type, Antibiotics Segment is expected to dominate the market during the forecast period and this is attributed to the high demand for antibiotics drugs to treat increasing prevalence of various types of fish skin diseases in fish farms.
On the basis Fish Species, Salmon Segment is expected to dominate the market during the forecast period and this is attributed to the rise in consumption of this species due to its nutrients such as high protein and vitamin B12.
On the basis End Users, Aquaculture Producers Segment is expected to dominate the market over the forecast period and this is attributed to the increase increasing demand for fish skin disease treatment in aquaculture producers due to growing fish crowding conditions in these aquacultures leading to outbreak of fish skin diseases.
On the basis of Geography, Asia Pacific is expected to hold a dominant position over the forecast period, due to rise in demand for fish for protein consumption in the region and the growing aquaculture industry in the region. Moreover, presence of fish farmers and fisheries, that could be susceptible to spread of fish skin diseases. Thus, the demand for fish skin disease treatment is likely to increase in the region, driving growth of this market.
Competitive Landscape:
Key players operating in the global fish skin disease market include Phibro Animal Health Corporation, Zoetis Inc., Elanco Animal Health, Biomin, MSD Animal Health, Nutreco, Benchmark Holdings, Skretting, Intervet Inc., Alltech, Novartis, AquaBounty Technologies, Novartis AG, and Pharmaq AS.
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Detailed Segmentation:
Global Fish Skin Disease Market, Type of Disease:
- Bacterial Infections
- Parasitic Infections
- Viral Infections
- Fungal Infections
Global Fish Skin Disease Market, By Treatment Type:
- Antibiotics
- Vaccines
- Probiotics
- Phage Therapy
- Other Natural Treatments
Global Fish Skin Disease Market, By Fish Species:
- Salmon
- Trout
- Tilapia
- Catfish
- Others
Global Fish Skin Disease Market, By End User:
- Aquaculture Producers
- Fisheries
- Other Organizations Involved in Fish Production
Global Fish Skin Disease Market, By Region:
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North America
- By Country
- U.S.
- Canada
- By Country
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Latin America
- By Country
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- By Country
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Europe
- By Country
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Rest of Europe
- By Country
-
Asia Pacific
- By Country
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- By Country
-
Middle East
- By Country
- GCC
- Israel
- Rest of Middle East
- By Country
-
Africa
- By Country/Region
- South Africa
- Central Africa
- North Africa
- By Country/Region
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