Aquaculture deals with the farming of various aquatic organisms which includes molluscs, crustaceans, fishes, and aquatic plants. This farming infers some sort of intercession in the rearing process to enhance the production which mainly involves regular stocking, protection from predators, feeding, etc. The aquaculture sector is largely divided in terms of:
2) Culture systems.
3) Culture environment
4) Type of operation and scale
5) Intensity of practice
6) Type of management
Different measures are been taken to deal with diseases of fish and shellfish, and they are also enumerated in terms of international codes, technology for diagnostics, regionally oriented guidelines, therapy and information communication, and national programs and legislation. Aquatic animal healthcare looks over husbandry, prevention and control, epidemiological approaches, disease surveillance, systems health management, and reporting systems.
Aquatic animal health management programme is been performed in different parts of the globe and is evaluated based on the efficacy of disease control, disease detection and diagnostics, inherent problems with national legislation and international codes, and the effectiveness of programs on education, training and extension services.
COVID-19 scenario analysis:
The coronavirus pandemic is having a huge impact on businesses and has already caused an unprecedented collapse of economic activities. The COVID-19 impact is straining the healthcare systems globally. The rapidly increasing demand for healthcare facilities and healthcare workers may leave only a few healthcare systems to fulfill the increasing demand during the pandemic situation.
The COVID-19 pandemic cases are because of direct or indirect contact between humans. There has been no evidence or confirmation that animals can spread COVID-19 to humans. The myth animals can spread the virus to humans has increased the number of abandoned pets. Furthermore, COVID-19 has weakened the supply chain and has created a shortage of animal health products such as nutritional feed as well as vaccines globally. The animal health industry has been impacted largely as many manufacturers in the animal health industry are left with a significantly reduced workforce. Also, stringent government policies such as restrictions of import of raw materials from China are expected to hamper the animal health market.
Healthcare facilities are stocking up the animal-related health products, considering the high demand. This is expected to further create a financial strain on the market due to procurement inefficiencies and wasted speeding. Due to the pandemic situation, many hospitals and veterinary clinics are overstocking the products.
Owing to such factors, COVID 19 is expected to have a significant impact on the aquaculture healthcare market.
Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
Introduction of smart fishing and the growing seafood trade, different methods used in marine aquaculture which include intensive aquaculture, sea ranching, and rack & line farming. Additionally, they have also been various advancements in regards to the feeding systems to meet the rising demand for the incorporation of nutrients at an optimum level in the diets of aquatic animals. Various equipments are important in the production process of aquatic plants and animals. Governments are also introducing various policies to support aqua-farming in the countries where it is the major source of employment. Ocean cage culturing in marine fish culture are been encouraged to design new and innovative cages for culturing. Moreover, technological advancements, increasing food demand globally due to increasing population, water recirculation systems, are also developing a marine aquaculture system thus increasing the market growth. There is also an increase in the R&D activities and government initiatives for the development of newer diagnostic tests and therapeutics for aquaculture. There is also a rise in the prevalence of various diseases as there has been a rise in water pollution.
On the other hand, strict rules are been set up by the government for the approval of newer therapeutics. There has also been a lack of knowledge concerning aquatic animal diseases in veterinary professionals. Additionally, there are also adverse effects associated with the drugs and vaccines.
New product launches and acquisitions to flourish the market:
On March 12th, 2018, PharmaQ, launched of vaccine against Viral Nervous Necrosis for sea bass in Spain, Italy, Croatia, and Greece. This launch has enabled the company to strengthen its market presence in Europe and expand its customer base.
On March 25th, 2018, AKVA Group set up a feed conveyor concept by the name of flexible feeding, which allows farmers to feed silo to any cage, making it easier to use different feed types and sizes.
AKVA Group and Egersund Net AS joined hands to expand its product portfolio on May 15th, 2018.
On June 1st, 2017, Pentair plc along with Urban Organics set up a new facility of 87,000-square feet for aquafarming at its Schmidt's brewery building in St. Paul, Minnesota, US.
On October 19th, 2016, Pentair Aquatic Ecosystems acquired Vaki Aquaculture Systems Limited which helped them enhance their product portfolio of aquaculture systems, products, and services.
Surge in usage in aqua stores applications:
Distributors, online stores, retail, and aqua stores are the major end-users for aquaculture healthcare. Online pharmacies are the biggest consumers among them. A large variety of drugs are been catered for various diseases in aquatic animals which are helping in contributing to the demand. Moreover, there is considerable growth in online shopping. These factors will boost the online stores and are contributing to the market expansion.
Key benefits of the report:
- This study presents the analytical depiction of the global Aquaculture healthcare industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global Aquaculture healthcare market share.
- The current market is quantitatively analyzed to highlight the global Aquaculture healthcare market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed global Aquaculture healthcare market analysis based on competitive intensity and how the competition will take shape in coming years.
Questions answered in the Aquaculture healthcare Market research report:
- What are the leading market players active in the Aquaculture healthcare market?
- What the current trends will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What are the projections for the future that would help in taking further strategic steps?
Aquaculture Healthcare Market Report Highlights
By Feed Products
By Route of administration
By Distribution Channel
Key Market Players
Xylem Inc., AKVA Group, Pentair plc., Archer Daniels Midland Company, Benchmark Holdings Plc., Bayer Animal Health, Alltech, Virbac S.A., Merck & Co. Inc., Zoetis (Pfizer, Inc.), Elanco