The global shrimp disease diagnostics market is set to experience robust growth, with an anticipated compound annual growth rate (CAGR) of 11.3% during the forecast period. Rising from a valuation of USD 174.91 million in 2021, the market is projected to reach an impressive USD 567.88 million by 2032.
This growth can be attributed to several factors, including the increasing global demand for shrimp, which drives the need for effective disease management strategies to ensure sustainable aquaculture practices. With shrimp farming becoming more prevalent, the adoption of advanced diagnostic tools and techniques is critical for maintaining healthy shrimp stocks and optimizing production yields.
Innovations in diagnostic technologies are also contributing to market expansion. Companies are investing in research and development to enhance the accuracy and speed of disease detection, allowing farmers to respond promptly to outbreaks. As awareness of shrimp health and disease management continues to grow, the market is expected to attract significant investments, further accelerating its growth.
“The shrimp disease diagnostics market is at a pivotal point of transformation, driven by technological advancements and an increased focus on sustainability in aquaculture,” said FMI. “Our commitment to innovation will empower shrimp farmers to enhance their production capabilities while ensuring the health and welfare of their stock.”
As the shrimp disease diagnostics market continues to evolve, stakeholders are encouraged to stay informed about emerging trends and technologies that can influence their operations. The future looks promising, with potential for substantial growth and development in this vital sector of the aquaculture industry.
Key Drivers of the Global Shrimp Disease Diagnostics Market Share:
The global shrimp disease diagnostics market is experiencing robust growth, driven by various factors that contribute to the increasing demand for effective disease management in shrimp aquaculture. Here are the key drivers:
- Rising Demand for Shrimp Production:
The global demand for shrimp, a popular seafood, is increasing due to its nutritional benefits and culinary versatility. This demand drives the need for effective disease management solutions to ensure sustainable and profitable shrimp farming.
- Prevalence of Shrimp Diseases:
Shrimp farming is susceptible to various diseases, including viral, bacterial, and fungal infections, which can significantly impact production. The emergence of diseases such as White Spot Syndrome Virus (WSSV) and Acute Hepatopancreatic Necrosis Disease (AHPND) highlights the need for reliable diagnostic tools to detect and manage these health threats.
- Technological Advancements in Diagnostics:
Innovations in diagnostic technologies, including PCR (Polymerase Chain Reaction), ELISA (Enzyme-Linked Immunosorbent Assay), and next-generation sequencing, are improving the accuracy and speed of disease detection in shrimp. These advancements are facilitating early diagnosis and effective treatment, driving market growth.
- Increased Awareness of Biosecurity Measures:
As awareness of biosecurity and disease prevention in aquaculture rises, shrimp farmers are increasingly investing in diagnostic tools to monitor and control diseases. Implementing biosecurity measures helps minimize losses and ensures healthier shrimp production.
- Government Support and Regulation:
Many governments and regulatory bodies are promoting sustainable aquaculture practices and establishing guidelines for disease management. Support through funding and initiatives encourages the adoption of diagnostic solutions among shrimp farmers.
- Expansion of Aquaculture Sector:
The growth of the aquaculture industry, particularly in regions like Asia-Pacific, Latin America, and North America, is driving the demand for shrimp disease diagnostics. The need for efficient disease management practices in expanding shrimp farming operations supports market growth.
- Rising Investments in Research and Development:
Increased investments by key players in R&D to develop novel diagnostic tools and methodologies are propelling market advancements. This focus on innovation is crucial for addressing emerging diseases and enhancing diagnostic capabilities.
- Growing Export Market for Shrimp:
As countries increasingly focus on exporting shrimp, the need for quality assurance and disease-free certifications becomes critical. Diagnostic tools play a vital role in ensuring that exported shrimp meet international health standards, boosting demand in the market.
The global shrimp disease diagnostics market is set for substantial growth, driven by rising shrimp production demands, increasing disease prevalence, and advancements in diagnostic technologies. As the aquaculture sector continues to expand and evolve, effective disease management will remain a key focus, presenting opportunities for stakeholders in the shrimp disease diagnostics market.
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Key Players in the Global Shrimp Disease Diagnostics Market:
- HiMedia Laboratories
- Speedy Assay Sdn Bhd
- REAGEN LLC
- FUJIKURA KASEI CO., LTD.
- GeneReach Biotechnology Corp.
- Thermo Fisher Scientific
- Lab-Ind Resource Sdn Bhd
- AquaBounty Technologies, Inc.
- pop bio
- SUREBIO
- Auro Biotechnologies
- Others
Recent Developments:
- In October 2020, Thermo Fisher Scientific entered into a collaborative agreement with the Terasaki Innovation Center (TIC) to expedite the research and development of innovative diagnostic tools for managing transplant patients. This partnership positions Thermo Fisher as the first company to produce novel technologies developed by TIC, which will be made available to healthcare professionals, laboratories, and transplant centers globally.
- In April 2021, Thermo Fisher Scientific announced its acquisition of PPD, a clinical research organization, for $17.4 billion. This acquisition is expected to further consolidate the contract research organization (CRO) landscape into a few major corporate entities.
Segmentation of the Shrimp Disease Diagnostics Market (2022 to 2032)
Type of Diagnostics:
- Molecular Diagnostics
- PCR (Polymerase Chain Reaction)
- RT-PCR (Reverse Transcription PCR)
- NGS (Next-Generation Sequencing)
- Immunodiagnostics
- ELISA (Enzyme-Linked Immunosorbent Assay)
- Lateral Flow Assays
- Histopathology
- Other Diagnostics Methods
Pathogen Type:
- Viral Diseases
- White Spot Syndrome Virus (WSSV)
- Infectious Hypodermal and Hematopoietic Necrosis Virus (IHHNV)
- Bacterial Diseases
- Vibrio spp. Infections
- Aeromonas spp. Infections
- Fungal Diseases
- Parasitic Diseases
End User:
- Aquaculture Farms
- Research Laboratories
- Diagnostic Laboratories
- Government Agencies
Region:
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East and Africa
Technology:
- Traditional Diagnostics
- Point-of-Care Testing
- Automated Diagnostics
Application:
- Disease Prevention
- Disease Management
- Research and Development
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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