Report : South & Central America Aquatic Veterinary Market Forecast to 2030 - Regional Analysis - by Type (Diagnostic and Treatment), Diagnostic (Serological, Molecular Diagnosis, DNA Sequencing, and Other Diagnostics), Treatment (Vaccines, Medications, and Supplements), Species (Fish, Crustaceans, Mollusca, and Others), Diseases Source (Bacterial, Viral, Parasites, and Others), and Route of Administration (Water Medication, Medicated Feed, and Other Route of Administrations)
At 2.9% CAGR, South & Central America Aquatic Veterinary Market is Projected to be worth US$ 142.79 million by 2030, says Business Market Insights
According to Business Market Insights' research, the South & Central America aquatic veterinary market was valued at US$ 113.32 million in 2022 and is expected to reach US$ 142.79 million by 2030, registering a CAGR of 2.9% from 2022 to 2030. Technological advancements in fish vaccines and development of novel fish vaccines are among the critical factors attributed to drive the South & Central America aquatic veterinary market growth.
Aquatic farms across the world increasingly rely on vaccinations to manage animal health. The emergence of novel pathogens with extensive antigenic diversity renders conventional vaccines less effective, which encourages researchers to look into new techniques for creating potent vaccines for aquaculture. Subunit or recombinant DNA/RNA particle vaccines are created using modern vaccine technologies, which focus on specific pathogenic components. Recent advancements in vaccines and vaccinology also support efforts made by researchers to find new vaccine candidates to fight fish pathogens such as mycotic and parasitic agents.
Targeting the construct and/or transgene to antigen-receptor cells is a promising way to improve the effectiveness of DNA vaccines against other viral diseases. Molecular assemblies can be used to target dendritic cells (DC) and antigen-presenting cells (APC) in DNA vaccines, producing immunological responses. Another tactic is to encapsulate the DNA vaccine in specific carriers to stimulate transgene and MHC expression. The development of novel vaccines known as recombinant DNA-based vaccines or new-generation vaccines has made extensive use of recombinant DNA (rDNA) technology. Recombinant immunogenic protein vaccines or epitopes purified from vectors carrying the gene of interest produced in prokaryotic or eukaryotic expression systems, peptide vaccines, live vaccines produced by defined genetic manipulations, and microbial vectors carrying gene coding for immunogenic protein and DNA vaccines are among the types of vaccines based on recombinant DNA technology that have been developed. Recombinant vaccines have the advantage of closely simulating naturally occurring infections, which aids in triggering a potent immune response in the treated fish. Moreover, these vaccines can be mass-produced easily. Thus, the development of novel vaccines is emerging as a new trend in the South & Central America aquatic veterinary market.
On the contrary, the stringent regulations for vaccine approvals hampers the growth of South & Central America aquatic veterinary market.
Based on type, the South & Central America aquatic veterinary market is bifurcated diagnostic and treatment. The treatment segment held 83.3% market share in 2022, amassing US$ 94.37 million. It is projected to garner US$ 120.16 million by 2030 to register 3.1% 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 South & Central America aquatic veterinary market is segmented into fish, crustaceans, mollusca, and others. The fish segment held 54.8% share of South & Central America aquatic veterinary market in 2022, amassing US$ 62.08 million. It is anticipated to garner US$ 81.81 million by 2030 to expand at 3.5% CAGR during 2022-2030.
Based on diseases source, the South & Central America aquatic veterinary market is segmented into bacterial, viral, parasites, and others. The bacterial segment held 54.2% share of South & Central America aquatic veterinary market in 2022, amassing US$ 61.39 million. It is projected to garner US$ 79.38 million by 2030 to expand at 3.3% CAGR from 2022 to 2030.
In terms of route of administration, the South & Central America aquatic veterinary market is segmented into water medication, medicated feed, and other route of administrations. The water medication segment held 44.5% share of South & Central America aquatic veterinary market in 2022, amassing US$ 50.47 million. It is projected to garner US$ 66.19 million by 2030 to expand at 3.4% CAGR from 2022 to 2030.
By country, the South & Central America aquatic veterinary market is segmented into Brazil, Argentina, and the Rest of South & Central America. Our regional analysis states that Brazil captured 61.1% share of South & Central America aquatic veterinary market in 2022. It was assessed at US$ 69.24 million in 2022 and is likely to hit US$ 89.81 million by 2030, registering a CAGR of 3.3% during 2022-2030.
Key players operating in the South & Central America 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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