Product Code: BMIRE00030680
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; it is estimated to register a CAGR of 4.3% from 2022 to 2030.
Government Initiatives to Develop Aquaculture Industry Boost Asia Pacific Aquatic Veterinary Market
The high demand for seafood and the decreasing annual catch of wild fish are crucial factors that can drive the growth of the aquaculture industry at an exponential rate. Thus, governments are taking initiatives to improve and support the growth of the aquacultural industry. Following are a few recent initiatives:
An Indian Council of Agricultural Research Institute, the Central Institute of Freshwater Aquaculture, Bhubaneswar (India), and Indian Immunologicals Ltd., a vaccine manufacturer, have announced a partnership for the commercial development of a vaccine against hemorrhagic septicemia, also known as Aeromonas septicemia, ulcer disease, or red-sore disease in freshwater fish.
In 2023, Over the next four years, the McGowan Government will invest $8.5 million to further aquaculture research and development throughout Western Australia, including renovating Broome, Pemberton, and Albany facilities.
In 2022, the Singapore Food Agency (SFA) unveiled the Singapore Aquaculture Plan to promote the aquaculture sector. The three strategies outlined in the plan aim to revolutionize the industry: expanding and improving aquaculture sites, funding research and development, and assisting the sector in implementing improved farming techniques and technology. Thus, an increase in government initiatives to support developments in the aquaculture industry drives the aquatic veterinary market growth.
Asia Pacific Aquatic Veterinary Market Overview
Aquaculture businesses in China are focusing on partnerships, mergers and acquisitions, and collaborations with companies from other countries to develop fish farms. In December 2020, Nordic Aqua Partners A/S, a Norwegian company with a subsidiary in Ningbo, Zhejiang province, began the construction of China's first land-based salmon farm. This facility aims to provide ~36,000 metric ton of salmon annually to China. An increase in the production of seafood is also attributed to the growing consumption of seafood in China, in addition to the rise in aquaculture activities. As per a 2020 report from the Stockholm Resilience Centre, China is expected to face an issue of overconsumption of seafood by 2030. According to the East Asia Forum, the total production output of the fishing industry in China was 65.49 million metric ton in 2020, 52.24 million metric ton of which came from domestic freshwater and offshore aquaculture. Therefore, progressing aquaculture activities in China fuel the demand for aquatic veterinary products and services in China.
Asia Pacific Aquatic Veterinary Market Revenue and Forecast to 2030 (US$ Million)
Asia Pacific Aquatic Veterinary Market Segmentation
The Asia Pacific aquatic veterinary market is categorized into type, species, diseases source, route of administration, and country.
Based on type, the Asia Pacific aquatic veterinary market is bifurcated diagnostic and treatment. The treatment segment held a larger market share in 2022. 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 the largest market share in 2022.
Based on diseases source, the Asia Pacific aquatic veterinary market is segmented into bacterial, viral, parasites, and others. The bacterial segment held the largest market share in 2022.
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 the largest market share in 2022.
By country, the Asia Pacific aquatic veterinary market is segmented into China, Japan, India, Australia, South Korea, and Rest of Asia Pacific. China dominated the Asia Pacific aquatic veterinary market share in 2022.
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 are among the leading companies operating in the Asia Pacific aquatic veterinary market.
Table Of Contents
1. Introduction
- 1.1 The Insight Partners Research Report Guidance
- 1.2 Market Segmentation
2. Executive Summary
3. Research Methodology
- 3.1 Coverage
- 3.2 Secondary Research
- 3.3 Primary Research
4. Asia Pacific Aquatic Veterinary Market - Key Market Dynamics
- 4.1 Market Drivers
- 4.1.1 Government Initiatives to Develop Aquaculture Industry
- 4.1.2 Surging Demand for Aquatic Animal Species for Consumption
- 4.2 Market Restraints
- 4.2.1 Stringent Regulations for Vaccine Approvals
- 4.3 Market Opportunities
- 4.3.1 Development of Novel Fish Vaccines
- 4.4 Future Trends
- 4.4.1 Technological Advancements in Fish Vaccines
- 4.5 Impact of Drivers and Restraints:
5. Aquatic Veterinary Market - Asia Pacific Market Analysis
- 5.1 Asia Pacific Aquatic Veterinary Market Revenue (US$ Million), 2020-2030
6. Asia Pacific Aquatic Veterinary Market Analysis - by Type
- 6.1 Diagnostic
- 6.1.1 Overview
- 6.1.2 Diagnostic: Asia Pacific Aquatic Veterinary Market - Revenue and Forecast to 2030 (US$ Million)
- 6.2 Treatment
- 6.2.1 Overview
- 6.2.2 Treatment: Asia Pacific Aquatic Veterinary Market - Revenue and Forecast to 2030 (US$ Million)
7. Asia Pacific Aquatic Veterinary Market Analysis - by Species
- 7.1 Fish
- 7.1.1 Overview
- 7.1.2 Fish: Asia Pacific Aquatic Veterinary Market - Revenue and Forecast to 2030 (US$ Million)
- 7.2 Crustaceans
- 7.2.1 Overview
- 7.2.2 Crustaceans: Asia Pacific Aquatic Veterinary Market - Revenue and Forecast to 2030 (US$ Million)
- 7.3 Mollusca
- 7.3.1 Overview
- 7.3.2 Mollusca: Asia Pacific Aquatic Veterinary Market - Revenue and Forecast to 2030 (US$ Million)
- 7.4 Others
- 7.4.1 Overview
- 7.4.2 Others: Asia Pacific Aquatic Veterinary Market - Revenue and Forecast to 2030 (US$ Million)
8. Asia Pacific Aquatic Veterinary Market Analysis - by Diseases Source
- 8.1 Bacterial
- 8.1.1 Overview
- 8.1.2 Bacterial: Asia Pacific Aquatic Veterinary Market - Revenue and Forecast to 2030 (US$ Million)
- 8.2 Viral
- 8.2.1 Overview
- 8.2.2 Viral: Asia Pacific Aquatic Veterinary Market - Revenue and Forecast to 2030 (US$ Million)
- 8.3 Parasites
- 8.3.1 Overview
- 8.3.2 Parasites: Asia Pacific Aquatic Veterinary Market - Revenue and Forecast to 2030 (US$ Million)
- 8.4 Others
- 8.4.1 Overview
- 8.4.2 Others: Asia Pacific Aquatic Veterinary Market - Revenue and Forecast to 2030 (US$ Million)
9. Asia Pacific Aquatic Veterinary Market Analysis - by Route of Administration
- 9.1 Water Medication
- 9.1.1 Overview
- 9.1.2 Water Medication: Asia Pacific Aquatic Veterinary Market - Revenue and Forecast to 2030 (US$ Million)
- 9.2 Medicated Feed
- 9.2.1 Overview
- 9.2.2 Medicated Feed: Asia Pacific Aquatic Veterinary Market - Revenue and Forecast to 2030 (US$ Million)
- 9.3 Other Route of Administrations
- 9.3.1 Overview
- 9.3.2 Other Route of Administrations: Asia Pacific Aquatic Veterinary Market - Revenue and Forecast to 2030 (US$ Million)
10. Asia Pacific Aquatic Veterinary Market - Country Analysis
- 10.1 Asia Pacific
- 10.1.1 Asia Pacific Aquatic Veterinary Market Breakdown, by Key Countries, 2022 and 2030 (%)
- 10.1.1.1 Asia Pacific Aquatic Veterinary Market - Revenue and Forecast Analysis - by Country
- 10.1.1.1 China
- 10.1.1.2 China: Asia Pacific Aquatic Veterinary Market - Revenue and Forecast to 2030 (US$ Million)
- 10.1.1.2.1 China: Asia Pacific Aquatic Veterinary Market Breakdown, by Type
- 10.1.1.2.1.1 China: Asia Pacific Aquatic Veterinary Market Breakdown, by Diagnostic
- 10.1.1.2.1.2 China: Asia Pacific Aquatic Veterinary Market Breakdown, by Treatment
- 10.1.1.2.2 China: Asia Pacific Aquatic Veterinary Market Breakdown, by Species
- 10.1.1.2.3 China: Asia Pacific Aquatic Veterinary Market Breakdown, by Diseases Source
- 10.1.1.2.4 China: Asia Pacific Aquatic Veterinary Market Breakdown, by Route Of Administration
- 10.1.1.3 Japan
- 10.1.1.4 Japan: Asia Pacific Aquatic Veterinary Market - Revenue and Forecast to 2030 (US$ Million)
- 10.1.1.4.1 Japan: Asia Pacific Aquatic Veterinary Market Breakdown, by Type
- 10.1.1.4.1.1 Japan: Asia Pacific Aquatic Veterinary Market Breakdown, by Diagnostic
- 10.1.1.4.1.2 Japan: Asia Pacific Aquatic Veterinary Market Breakdown, by Treatment
- 10.1.1.4.2 Japan: Asia Pacific Aquatic Veterinary Market Breakdown, by Species
- 10.1.1.4.3 Japan: Asia Pacific Aquatic Veterinary Market Breakdown, by Diseases Source
- 10.1.1.4.4 Japan: Asia Pacific Aquatic Veterinary Market Breakdown, by Route Of Administration
- 10.1.1.5 India
- 10.1.1.6 India: Asia Pacific Aquatic Veterinary Market - Revenue and Forecast to 2030 (US$ Million)
- 10.1.1.6.1 India: Asia Pacific Aquatic Veterinary Market Breakdown, by Type
- 10.1.1.6.1.1 India: Asia Pacific Aquatic Veterinary Market Breakdown, by Diagnostic
- 10.1.1.6.1.2 India: Asia Pacific Aquatic Veterinary Market Breakdown, by Treatment
- 10.1.1.6.2 India: Asia Pacific Aquatic Veterinary Market Breakdown, by Species
- 10.1.1.6.3 India: Asia Pacific Aquatic Veterinary Market Breakdown, by Diseases Source
- 10.1.1.6.4 India: Asia Pacific Aquatic Veterinary Market Breakdown, by Route Of Administration
- 10.1.1.7 Australia
- 10.1.1.8 Australia: Asia Pacific Aquatic Veterinary Market - Revenue and Forecast to 2030 (US$ Million)
- 10.1.1.8.1 Australia: Asia Pacific Aquatic Veterinary Market Breakdown, by Type
- 10.1.1.8.1.1 Australia: Asia Pacific Aquatic Veterinary Market Breakdown, by Diagnostic
- 10.1.1.8.1.2 Australia: Asia Pacific Aquatic Veterinary Market Breakdown, by Treatment
- 10.1.1.8.2 Australia: Asia Pacific Aquatic Veterinary Market Breakdown, by Species
- 10.1.1.8.3 Australia: Asia Pacific Aquatic Veterinary Market Breakdown, by Diseases Source
- 10.1.1.8.4 Australia: Asia Pacific Aquatic Veterinary Market Breakdown, by Route Of Administration
- 10.1.1.9 South Korea
- 10.1.1.10 South Korea: Asia Pacific Aquatic Veterinary Market - Revenue and Forecast to 2030 (US$ Million)
- 10.1.1.10.1 South Korea: Asia Pacific Aquatic Veterinary Market Breakdown, by Type
- 10.1.1.10.1.1 South Korea: Asia Pacific Aquatic Veterinary Market Breakdown, by Diagnostic
- 10.1.1.10.1.2 South Korea: Asia Pacific Aquatic Veterinary Market Breakdown, by Treatment
- 10.1.1.10.2 South Korea: Asia Pacific Aquatic Veterinary Market Breakdown, by Species
- 10.1.1.10.3 South Korea: Asia Pacific Aquatic Veterinary Market Breakdown, by Diseases Source
- 10.1.1.10.4 South Korea: Asia Pacific Aquatic Veterinary Market Breakdown, by Route Of Administration
- 10.1.1.11 Rest of Asia Pacific
- 10.1.1.12 Rest of Asia Pacific: Asia Pacific Aquatic Veterinary Market - Revenue and Forecast to 2030 (US$ Million)
- 10.1.1.12.1 Rest of Asia Pacific: Asia Pacific Aquatic Veterinary Market Breakdown, by Type
- 10.1.1.12.1.1 Rest of Asia Pacific: Asia Pacific Aquatic Veterinary Market Breakdown, by Diagnostic
- 10.1.1.12.1.2 Rest of Asia Pacific: Asia Pacific Aquatic Veterinary Market Breakdown, by Treatment
- 10.1.1.12.2 Rest of Asia Pacific: Asia Pacific Aquatic Veterinary Market Breakdown, by Species
- 10.1.1.12.3 Rest of Asia Pacific: Asia Pacific Aquatic Veterinary Market Breakdown, by Diseases Source
- 10.1.1.12.4 Rest of Asia Pacific: Asia Pacific Aquatic Veterinary Market Breakdown, by Route Of Administration
11. Industry Landscape
- 11.1 Overview
- 11.2 Growth Strategies in Aquatic Veterinary Market
- 11.3 Organic Growth Strategies
- 11.4 Inorganic Growth Strategies
12. Company Profiles
- 12.1 Zoetis Inc
- 12.1.1 Key Facts
- 12.1.2 Business Description
- 12.1.3 Products and Services
- 12.1.4 Financial Overview
- 12.1.5 SWOT Analysis
- 12.1.6 Key Developments
- 12.2 Merck KGaA
- 12.2.1 Key Facts
- 12.2.2 Business Description
- 12.2.3 Products and Services
- 12.2.4 Financial Overview
- 12.2.5 SWOT Analysis
- 12.2.6 Key Developments
- 12.3 HIPRA SA
- 12.3.1 Key Facts
- 12.3.2 Business Description
- 12.3.3 Products and Services
- 12.3.4 Financial Overview
- 12.3.5 SWOT Analysis
- 12.3.6 Key Developments
- 12.4 Ceva Polchem Pvt Ltd
- 12.4.1 Key Facts
- 12.4.2 Business Description
- 12.4.3 Products and Services
- 12.4.4 Financial Overview
- 12.4.5 SWOT Analysis
- 12.4.6 Key Developments
- 12.5 Virbac SA
- 12.5.1 Key Facts
- 12.5.2 Business Description
- 12.5.3 Products and Services
- 12.5.4 Financial Overview
- 12.5.5 SWOT Analysis
- 12.5.6 Key Developments
- 12.6 Elanco Animal Health Inc
- 12.6.1 Key Facts
- 12.6.2 Business Description
- 12.6.3 Products and Services
- 12.6.4 Financial Overview
- 12.6.5 SWOT Analysis
- 12.6.6 Key Developments
- 12.7 Phibro Animal Health Corp
- 12.7.1 Key Facts
- 12.7.2 Business Description
- 12.7.3 Products and Services
- 12.7.4 Financial Overview
- 12.7.5 SWOT Analysis
- 12.7.6 Key Developments
- 12.8 Aquatic Diagnostics Ltd
- 12.8.1 Key Facts
- 12.8.2 Business Description
- 12.8.3 Products and Services
- 12.8.4 Financial Overview
- 12.8.5 SWOT Analysis
- 12.8.6 Key Developments
- 12.9 Thermo Fisher Scientific Inc
- 12.9.1 Key Facts
- 12.9.2 Business Description
- 12.9.3 Products and Services
- 12.9.4 Financial Overview
- 12.9.5 SWOT Analysis
- 12.9.6 Key Developments
13. Appendix
- 13.1 About The Insight Partners
- 13.2 Glossary of Terms