New York, July 15, 2019 (GLOBE NEWSWIRE) -- Cultured shrimps or farm-grown shrimps are considered for diagnostic tests, and the shrimp disease diagnostics comprise of reagents and kits that are used to diagnose viral diseases in shrimps. The global market for shrimp disease diagnostics registered revenues worth US$ 360 Mn in the year 2018, according to a recent research study of Persistence Market Research (PMR).
The shrimp disease diagnostics market has been analysed across the regions of North America, Latin America, Europe, East Asia, South Asia, Oceania, MEA and Emerging Countries such as China, Thailand and India. Due to the high viral-borne endemic shrimp diseases, countries such as China, Thailand, and India are estimated to be the fastest-growing regional markets for shrimp disease diagnostics, and are poised to offer significant opportunities.
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With a large number of ongoing research initiatives pertaining to shrimp disease, the demand for shrimp disease diagnostics is estimated to grow significantly over the forecast period. Moreover, mergers & acquisitions and research-based collaboration agreements by key manufacturers in the shrimp disease diagnostics market are also among factors estimated to fuel the growth of the market.
Assay-based Kits Remain High Selling
The market for shrimp disease diagnostics comprises of assay-based kits and rapid testing kits. Assay-based kits are used for qualitatively assessing and quantitatively measuring the amount or functional activity of a target entity (shrimp virus) in a sample. Rapid tests are tailored during the preliminary screening of a target entity, and are very useful in resource-limited settings. Rapid tests produce results of high quality and are easy to perform with a quick output (10 minutes to 2 hours).
Rapid tests are based on agglutination and many immunological techniques. According to PMR, assay-based kits are expected to hold a prominent position in the global shrimp disease diagnostics market, as compared to reagent kits, in terms of revenue with a global market share of about 60% in 2019.
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Over the years, shrimp disease diagnostic products have become attractive assay kits as compared to manual assays. The increased demand for shrimp disease diagnostics reagent kits can be attributed to their accuracy, high throughput, and reliable results, which can be achieved in a fraction of the time. Furthermore, the emergence of third-generation DNA-based diagnostic tools have also revolutionized the shrimp disease diagnostics market for quick disease diagnosis. Many studies on the efficacy comparison of manual and shrimp disease diagnostics reagent kits have shown that the latter provides high-throughput results with a high rate of accuracy and reproducibility.
Major players in the shrimp disease diagnostics market are concentrating their efforts on investing in research and development as well as to introduce new kit-based products into the market, which are not only more affordable, but also reliable for small pathology testing laboratories. In addition, several technological advancements in molecular-based diagnostics are currently under development, which will find applications in a wide range of marine and aquaculture-based studies.
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Aquaculture Farming Picking Pace in Developing Countries
Macro-economic factors, such as favorable government regulations and policies for start-up companies to set up their manufacturing hubs, are estimated to fuel the growth of the shrimp disease diagnostics market. Moreover, increase in the number of aquaculture and marine laboratories is also expected to boost the demand for shrimp disease diagnostics. Furthermore, the growth of the healthcare sector as well as aquaculture farming in emerging nations is also estimated to fuel the growth of the shrimp disease diagnostics market. For instance, according to the World Bank, in 2016, China’s healthcare expenditure was 4.9% of the GDP, and it is anticipated to double by 2020.
The shrimp disease diagnostics market report offers a comprehensive taxonomy of the shrimp disease diagnostics market based on the reagents kit, disease type, end user, and region. Based on the reagents kit type, the global shrimp disease diagnostics market is segmented into rapid testing kits and assay-based kits.
Based on disease type, the shrimp disease diagnostics market is further classified White Spot Syndrome Virus (WSSV ), Taura Syndrome Virus (TSV), Yellow Head/Gill Associated Virus (YHV/GAV), Infectious Hypodermal and Hematopoietic Virus (IHHNV), Hepatopancreatic Parvovirus (HPV), Monodon Baculovirus (MBV), Infectious Myonecrosis Virus (IMNV), Necrotising Hepatopancreatitis Bacteria (NHP-B), Mourilyan Virus (MoV) and Early Mortality Syndrome (EMS). With so many viral-borne shrimp diseases and opportunities, the shrimp disease diagnostics market also offers significant potential for small and emerging players to invest in the market.
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The shrimp disease diagnostics market report tracks some of the key companies operating in the global shrimp disease diagnostics market, which include FUJIKURA KASEI CO., LTD., Thermo Fisher Scientific, GeneReach Biotechnology Corp., HiMedia Laboratories, GeneReach Biotechnology Corp., Speedy Assay Sdn Bhd, Lab - Ind Resource Sdn Bhd, REAGEN LLC, Aura Biotechnologies, and SURE Marketing Company, Inc., among others.
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