Asia Pacific Aquatic Veterinary Market to 2030 - By Size, Share, Growth by End User and Forecast

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)

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Asia Pacific Aquatic Veterinary Strategic Insights

Strategic insights for the Asia Pacific Aquatic Veterinary provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

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Asia Pacific Aquatic Veterinary Report Scope

Report Attribute	Details
Market size in 2022	US$ 289.44 Million
Market Size by 2030	US$ 406.89 Million
Global CAGR (2022 - 2030)	4.3%
Historical Data	2020-2021
Forecast period	2023-2030
Segments Covered	By Type Diagnostic and Treatment By Diagnostic Serological Molecular Diagnosis DNA Sequencing Other Diagnostics By Species Fish Crustaceans Mollusca By Diseases Source Bacterial Viral Parasites
Regions and Countries Covered	Asia-Pacific China India Japan Australia Rest of Asia-Pacific
Market leaders and key company profiles	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 Zoetis Inc

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Asia Pacific Aquatic Veterinary Regional Insights

The geographic scope of the Asia Pacific Aquatic Veterinary refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.

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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.

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