Revenue from Sales of Shrimp Disease Diagnostics Market to Surge Exponentially

Posted by Merin John on May 19th, 2021

Persistence Market Research has come up with its latest finding in the form of “The Shrimp Disease Diagnostics Market” report, wherein it has given a detailed analysis of the technological innovations boosting the healthcare industry. The report covers the market proceedings from start to finish, thereby touching upon every aspect of technological upgradations.

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 analyzed 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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Company Profiles:

HiMedia Laboratories

Speedy Assay Sdn Bhd

REAGEN LLC

FUJIKURA KASEI CO., LTD.

GeneReach Biotechnology Corp.

Thermo Fisher Scientific

Lab – Ind Resource Sdn Bhd.

SUREBIO

Auro Biotechnologies

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.

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.