Aquaculture Healthcare Market Size By Product (Drug {Parasiticides, Anti-inflammatory, Anti-infectives}, Vaccines {Modified Live Vaccines (MLV), Killed Inactivated Vaccines}, Medicated Feed Additives {Antibiotics, Vitamins, Amino Acids, Enzymes, Antioxida

Aquaculture Healthcare Market Size By Product (Drug {Parasiticides, Anti-inflammatory, Anti-infectives}, Vaccines {Modified Live Vaccines (MLV), Killed Inactivated Vaccines}, Medicated Feed Additives {Antibiotics, Vitamins, Amino Acids, Enzymes, Antioxidants, Prebiotics and Probiotics, Minerals, Hormones}), By Species (Fish {Freshwater Species [Tilapia, Carp], Marine Species [Sea Bass, Sea Bream, Turbot], Diadromous Species [Salmon, Trout]}, Crustaceans {Prawns, Shrimps}), By Infections (Bacterial Infections, Viral Infections, Parasitic Infections, Fungal Infections) By Route of Administration (Oral, Injectable, Topical), By Distribution Channel (Distributors, Online Stores, Retail/Aqua Stores), COVID-19 Impact Analysis, Regional Outlook, Price Trends, Application Potential, Competitive Market Share & Forecast, 2022 - 2028

The aquaculture healthcare market is estimated to see robust growth by 2028 owing to the increasing shift of dietary preferences towards pescetarianism or a slightly altered version of it. Additionally, growing global focus towards ensuring ecological sustainability and curbing overfishing of the earth’s oceans has transferred consumer demand to aquaculture, creating notable growth impetus for the industry.

To capitalize on this consumer influx, industry players have been adopting quick-growth strategies such as takeovers and acquisitions. For instance, in July 2020, Zoetis inked a deal to acquire Fish Vet Group from Benchmark Holdings, PLC. The deal allowed Zoetis to make a strategic addition to its own aquaculture unit, Pharmaq, which offers vaccination and diagnostic services to the aquaculture industry.

With the inclusion of Fish Vet Group, Pharmaq's reference lab, Pharmaq Analytiq, expanded its geographic reach and improved the diagnostics expertise and testing services, including environmental testing, that it can also provide to fish farmers in significant aquaculture markets.

Zoetis Executive Vice President and President of International Operations, Rob Kelly, stated that raising healthy fish to fulfil the needs of the global population, while also protecting the environment, is vital for a healthier, more sustainable future.

The aquaculture healthcare market has further been segmented on the basis of product, species, infection, route of administration, distribution channel, and region.

The product segment of the market has been divided into vaccines, drugs, and medicated feed additives. Among these, the vaccines segment is anticipated to grow at a CAGR of 5.0% through the analysis period.

In terms of species, the market has been bifurcated into crustaceans, fish, and others. Crustaceans segment accounted for USD 104.7 million in 2021 and is estimated to grow substantially during the forecast timeframe.

Based on infection, the market has been divided into bacterial infection, fungal infection, viral infection, and parasitic infection. Fungal infection segment accounted for revenue of USD 23.3 million in 2021 and is expected to grow steadily during the analysis period.

On the basis of route of administration, the market has been categorized into oral, topical, and injectable. Injectables segment accounted for market share of 56.1% in 2021 and is likely to see robust growth by 2028.

The distribution channel segment has been divided into distributors, retail/aqua stores, online stores, and others. Online stores segment is likely to show significant growth of 5.9% from 2022 to 2028.

From the regional point of view, Latin America market accounted market share of 15.4% in 2021 and is expected to grow substantially by over the forecast period. Meanwhile, Middle East & Africa market is expected to exhibit 5.7% CAGR pver the forecast timeframe.