The global Fish Skin Disease Market is estimated to be valued at US$ 1.84212 Mn in 2023 and is expected to exhibit a CAGR of 7.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Fish skin diseases are infections that affect the skin tissues of fish. Some common fish skin diseases include Ich, Costia, Chilodonella, Epistylis, and Trichodiniasis. The affected fish often display characteristics such as lesions, ulcers, visible parasites on body surface, and discoloration on skin. Unchecked fish skin diseases can prove fatal for fish population. Advancement in diagnosis plays a crucial role in timely detection and treatment of skin diseases in fish. Diagnostic tests aid in identification of causative pathogens which helps determine effective treatment plans. Common diagnostic methods used for fish skin diseases include wet mount examination, skin scraping and biopsy. Development of molecular diagnostic techniques has enabled improved accuracy and sensitivity in disease detection.
Market key trends:
One of the major trends in the fish skin disease market is the adoption of advanced molecular diagnostics. Techniques such as polymerase chain reaction (PCR), loop-mediated isothermal amplification (LAMP), and real-time PCR are gaining popularity. These molecular diagnostics techniques enable rapid, sensitive and specific detection of pathogens at genetic level. For instance, researchers have developed real-time PCR assays for detection of pathogens such as Ichthyophthirius multifiliis and Achtheres percarum responsible for ich and costia diseases respectively. Advancements in molecular diagnostics are expected to aid early disease detection which can facilitate timely intervention and control losses associated with skin infections in farmed fish. This will support the growth of the global fish skin disease market during the forecast period.
Porter’s Analysis
Threat of new entrants: The fish skin disease market has moderate threat as new players need to invest substantial capital in R&D and clinical trials to develop new drugs. Significant investment is also required to set up manufacturing and marketing infrastructure.
Bargaining power of buyers: The bargaining power of buyers is moderate in this market due to the availability of substitutes. However, buyers prefer branded drugs and products from reputed players due to safety and efficacy concerns.
Bargaining power of suppliers: The bargaining power of suppliers is low as they operate in a fragmented manner. However, fluctuating raw material costs exert pressure on profit margins.
Threat of new substitutes: The threat of new substitutes is moderate as alternatives such as antibiotics, prebiotics, and probiotics are available. However, these cannot completely replace fish skin disease specific drugs.
Competitive rivalry: The market is moderately competitive due to the presence of a few large players and several small players. However, technologically advanced products and a focus on new drug development has intensified competition.
Key Takeaways
The Global Fish Skin Disease Market Demand is expected to witness high growth, exhibiting CAGR of 7.1% over the forecast period, due to increasing fish farming to meet the rising demand for seafood.
Regional analysis
North America dominates the fish skin disease market owing to advancements in fish husbandry practices and disease control measures in the region. Asia Pacific is expected to witness the fastest growth rate over the forecast period due to rising awareness about fish diseases and their treatment in densely populated nations such as China and India.
Key players
Key players operating in the fish skin disease market are Zoetis Inc., Elanco Animal Health, MSD Animal Health, and Benchmark Holdings. Zoetis Inc. and Elanco Animal Health collectively account for over 30% of the global market share. These players focus on expanding their product portfolio and geographical footprint through mergers and acquisitions.
