July 20, 2024
Global Fish Skin Disease Market

Rapid Diagnostic solutions to propel growth of the Fish Skin Disease market

The Global Fish Skin Disease Market is estimated to be valued at US$ 1.4 Billion in 2023 and is expected to exhibit a CAGR of 9.8% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Fish skin disease is a common problem faced by fish farmers and cultivators. It occurs due to bacterial, viral, fungal infections and physical damages. Common symptoms include reddening or whitening of skin, formation of lesions, rotting and sloughing off of scales. Left untreated, fish skin disease can prove fatal for fish and lead to heavy losses for farmers. Rapid and accurate diagnosis is crucial to control spread and initiate timely treatment. The fish skin disease market offers diagnostic kits, reagents, tools and therapeutics to diagnose and treat various skin infections in fish. Advances in molecular diagnostic methods allow for quick confirmation of causative agents, aiding prompt prescription of appropriate medications. Therapeutics include antibiotics, antifungals and antiparasitics in oral and topical formulations suitable for mass medication of entire fish populations through water. This helps curb financial losses and supports sustainable aquaculture.

Market key trends:

The key trend in the fish skin disease market is the increasing adoption of molecular diagnostics. Technologies such as polymerase chain reaction (PCR) and DNA microarrays enable rapid confirmation of pathogens within hours, compared to conventional microbiological diagnosis requiring 1-2 weeks. This allows for timely commencement of correct medication and controlling spread. Another trend is the growth in new therapeutic agents such as live attenuated vaccines. They confer lasting immunity, thereby preventing future outbreaks. Fish farmers are also shifting to integrated fish health management approaches involving best husbandry practices, water quality control and vaccination programs to enhance disease resistance in farmed fish populations. Some players are developing targeted drug delivery systems like fish feed embedded with medicines for efficient mass medication without stressing fish.

Porter’s Analysis
Threat of new entrants: The threat of new entrants in the fish skin disease market is low due to the high capital requirements and the need for regulatory approvals to enter the market.
Bargaining power of buyers: The bargaining power of buyers in the fish skin disease market is high given the presence of generic drugs and availability of products from many major players.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as major suppliers have bargaining power due to differentiation of their products and services.
Threat of new substitutes: The threat of new substitutes is low as there are limited treatment alternatives available for fish skin diseases.
Competitive rivalry: The competitive rivalry among existing players in the fish skin disease market is high.

Key Takeaways
The Global Fish Skin Disease Market is expected to witness high growth, exhibiting CAGR of 9.8% over the forecast period, due to increasing incidence of skin diseases in fish farming. The Asia Pacific region is expected to dominate the global fish skin disease market during the forecast period owing to growth in fish farming practices, increasing demand for fish, and availability of generic drugs.

Regional analysis:
The Asia Pacific region is dominating the fish skin disease market due to availability of generic drugs, rising fish farming practices, and increasing demand for fish. Within Asia Pacific, China is expected to register highest growth rate during the forecast period.

Key players:
Key players operating in the fish skin disease market are GSK Plc., AbbVie Inc., Sonnet BioTherapeutics, Krystal Biotech, LEO Pharma, GALDERMA, GLENMARK PHARMACEUTICALS LTD., Mayne Pharma Group Limited, Ortho Dermatologics, Cellegy Pharmaceuticals, Patagonia Pharmaceuticals, LLC, Crown Laboratories, Inc.

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