February 25, 2024

The Global Fish Skin Disease Market Driven By Increasing Awareness Regarding Aquatic Animal’s Health

Fish Skin Disease Market including disinfectants, antifungal, antiparasitics, antibiotics, enzymes ect. Play a significant role in prevention and treatment various fish skin disease such as epidermal hyperplasia, papillomatosis, lymphocystis disease. Rising seafood trade enhancing risk of pathogen transfer between aquatic animals and disease outbreaks. Thus, demand for aquatic animal health products is gaining immense traction.

The global Fish Skin Disease Market is estimated to be valued at US$ 1.84 Mn in 2023 and is expected to exhibit a CAGR of 6.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
Key market players are strongly focused on developing novel drugs and therapies for effective fish skin disease treatment and prevention. For instance, Regulus Therapeutics Inc. is developing RG-101, an oligonucleotide-based therapeutic targeting microRNA-21 for the treatment of Alport syndrome, a rare kidney disease. Similarly, Aptose Biosciences Inc. is engaged in development of targeted therapies against certain cancers, including acute myeloid leukemia and B-cell lymphomas and other hematologic malignancies. Rexahn Pharmaceuticals Inc. is engaged in development of oncology drug RX-3117, for the treatment of metastatic cancers. Such innovative product pipelines are expected to boost the fish skin disease market growth over the forecast period.

Porter’s Analysis

Threat of new entrants: The threat of new entrants is moderate as setting up advanced R&D infrastructure and obtaining regulatory approvals for new drugs requires significant capital investments and time.

Bargaining power of buyers: The bargaining power of buyers is moderate as fish farmers have limited options for treatment and often depend on available drugs.

Bargaining power of suppliers: The bargaining power of suppliers is moderate as R&D requires collaboration between drug developers and clinical research organizations.

Threat of new substitutes: The threat of new substitutes is high as research aims to develop safer and more effective drugs.

Competitive rivalry: The competitive rivalry is high due to the presence of major players.

Key Takeaways

The Global Fish Skin Disease Market Size is expected to witness high growth over the forecast period. The global Fish Skin Disease Market is estimated to be valued at US$ 1.84 Mn in 2023 and is expected to exhibit a CAGR of 6.6% over the forecast period 2023 to 2030,

Regional analysis: North America dominates the Fish Skin Disease Market and is expected to grow at a CAGR of 5.8% during the forecast period. This is attributed to increasing salmon farming and awareness about fish diseases in the US and Canada. Europe is also a major market but the growth is slower compared to the Americas.

Key players: Key players operating in the Fish Skin Disease Market are Glaxo Smith Kline PLC., Isarna Therapeutics GmbH, Aptose Biosciences Inc., Regulus Therapeutics Inc., and Rexahn Pharmaceuticals Inc. Glaxo Smith Kline PLC has a wide distribution network and leads the market. Aptose Biosciences Inc focuses on developing targeted agents for hematologic malignancies and skin diseases.

Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it