South & Central America Aquatic Veterinary Market Size and Forecast (2021 - 2031)

The South & Central America Aquatic Veterinary Market is projected to grow significantly, reaching an estimated US$ 146.9 million by 2031, up from US$ 118.9 million in 2024. This growth reflects a compound annual growth rate (CAGR) of 3.1% from 2025 to 2031.

Executive Summary and Market Analysis

The aquatic veterinary market in South & Central America is primarily segmented into Brazil, Argentina, and the Rest of South & Central America. The growth of this market is driven by several factors, including a rise in infectious diseases affecting fish and an increase in aquaculture production, particularly in Brazil, Chile, Ecuador, and Peru. The adoption of functional feeds that are enriched with probiotics, immune-boosting additives, and medicated feeds aimed at specific diseases is also on the rise. Aquatic veterinarians play a crucial role in the formulation and administration of these feeds, which are essential for enhancing fish health and minimizing mortality rates. For example, in Brazil, veterinarians are actively involved in developing feeds to address parasitic infections in tilapia farms.

Strategic Insights

Market Segmentation Analysis

The South & Central America Aquatic Veterinary Market can be segmented by various criteria:

• By Type: The market is divided into Diagnostic and Treatment segments, with the Treatment segment leading in 2024.
• By Diagnostic Type: This includes Serological, Molecular Diagnosis, DNA Sequencing, and Other Diagnostics, where Molecular Diagnosis was the dominant segment in 2024.
• By Treatment Type: The Treatment segment is further divided into Vaccines, Medications, and Supplements, with Medications being the leading category in 2024.
• By Species: The market is segmented into Fish, Crustaceans, Mollusca, and Others, with Fish being the predominant species in 2024.
• By Disease Source: This includes Bacterial, Viral, Parasites, and Others, where Bacterial diseases were the most significant segment in 2024.
• By Route of Administration: The market is segmented into Water Medication, Medicated Feed, and Other Routes, with Water Medication leading in 2024.

Market Outlook

The increasing regulatory and consumer emphasis on sustainable aquaculture presents new opportunities for aquatic veterinarians to serve as consultants and policymakers, thereby influencing health and welfare standards in the industry. The Food and Agriculture Organization (FAO) guidelines for sustainable aquaculture advocate for practices such as recirculating aquaculture systems (RAS) and integrated multi-trophic aquaculture (IMTA). These systems necessitate health protocols, including disease screening, which veterinarians are well-equipped to design and certify.

Veterinarians are essential in developing health programs that comply with regulations and certifying farms for eco-labels like the Aquaculture Stewardship Council (ASC) and Marine Stewardship Council (MSC). Their expertise is crucial in advising on biosecurity measures, disease-resistant breeding, and welfare protocols, which not only enhance diagnostic infrastructure but also support sustainable production for export markets.

The World Veterinary Association's 2024 factsheet on farmed fish welfare underscores the importance of veterinarians in establishing standards that minimize antibiotic use and improve transport conditions. This initiative is bolstered by collaborations with the World Aquatic Veterinary Medical Association (WAVMA) for global policy advocacy. For instance, the American Veterinary Medical Association (AVMA) plans to focus on innovative aquaculture practices that align with eco-friendly production strategies in its 2025 session.

Country Insights

The South & Central America Aquatic Veterinary Market is further analyzed by country, with Brazil, Argentina, and the Rest of South & Central America as key segments. Brazil holds the largest market share as of 2024.

According to the Brazilian fish-farming association Peixe BR, Brazil produced 887,029 metric tons (MT) of farmed fish in 2023, marking a 3.1% increase from 2022 and a remarkable 53.2% rise from a decade ago. Farmed tilapia accounted for 65.3% of this production, totaling 579,080 MT, while native species like tambaqui and pirarucu contributed 263,479 MT, representing 29.7% of the total output. Other species, including carp, trout, and pangasius, added 44,470 MT, or 5% of the total production. The growth in aquaculture production in Brazil is driving demand for aquatic veterinary products to enhance productivity.

Brazil is also focusing on innovative vaccine technologies for aquaculture species, driven by the rising prevalence of diseases such as bacterial infections in tilapia and regulatory pressures to reduce antibiotic use due to concerns over antimicrobial resistance (AMR). This trend is increasing the demand for biologics as preventive measures, ensuring higher yields and export-quality seafood.

Research at the State University of Londrina has led to the development of recombinant protein-based vaccines for swine, with adaptations being explored for aquatic pathogens like Streptococcus in tilapia. This innovation aims to reduce reliance on antibiotics, promoting the adoption of veterinary vaccines in Brazil as farms seek sustainable disease control methods.

Biogénesis Bagó, a significant player in the market, has invested US$ 30 million in a new facility in Campo Largo, Brazil, positioning itself as Latin America's largest veterinary vaccine producer, with an annual output of over 10 million doses for livestock and aquatic species. This facility targets diseases in fish, including tilapia, and incorporates recombinant proteins for effective, low-risk vaccines, responding to Brazil's increasing aquaculture output and the demand for specialized aquatic vaccines to mitigate zoonotic risks and maintain productivity.

Company Profiles

Key players in the South & Central America Aquatic Veterinary Market include Thermo Fisher Scientific Inc, Merck KGaA, Zoetis Inc, Virbac SA, Phibro Animal Health Corp, HIPRA SA, Indian Immunologicals Ltd, Esox Biologics Ltd, Ceva Polchem Pvt Ltd, and Aquatic Diagnostics Ltd. These companies are employing various strategies such as expansion, product innovation, and mergers and acquisitions to enhance their market presence and offer innovative products to consumers.