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Companies that are playing a dominating role in the global aquaculture vaccines market profiled in this report are Zoetis, Phibro Animal Health Corporation, Elanco, Merck & Co., Inc., KBNP, CAVAC, Kyoto Biken Laboratories, Inc., Nisseiken Co., Ltd., Vaxxinova International BV, HIPRA.
As per our research report, the global aquaculture vaccines market size is forecasted to be worth USD 320.3 million by 2026, growing at a CAGR of 7.12% from 2021 to 2026.
During the pandemic, the aquaculture vaccine market had been significantly affected due to the impact on supply chain disruptions, the decline in sales, weak demand, heightened awareness of risks of disease transmission from animals to humans, and impediments operational due to changing policies and restrictions. The World Health Organization (WHO) has reported millions of people affected by the COVID-19 pandemic, prioritizing the need for vaccines to control the contagion rate and risk of cross-infections. Several companies like Zeotis have increased their support by improving supply chain machinery in response to the Covid-19 pandemic. This was followed by the use of stock in specific stores in the market, thereby reducing the losses incurred by expanding the aquaculture vaccine market.
An increase in aquaculture activities and a rising incidence of bacterial and viral infections will positively impact the growth trajectory of the aquaculture vaccines market. Infections such as pseudomonas, streptococcus, vibriosis, and others are inclining rapidly in many species of fish. This aspect has a severe impact on sales. Hence, the aquaculture vaccine market will have substantial growth opportunities in the future across the globe. Safe and effective vaccination courses are the primary tools used to ensure sustainable growth and meet the demand for protein globally. According to the journal Aquaculture Research & Development, approximately 220 cases of infectious diseases were reported in the fresh aquaculture sector. Of these, 74.89% were parasitic, 12.85% were bacterial, 1.85% were viral, and 10.55% of cases were a mixture of parasitic and bacterial diseases. Hence, such a high prevalence of infectious diseases plays a key role in driving the market growth.
The growing demand for sea-food-based products such as cod oil, caviar, protein powder, capsules, and meat encourages farmers to take aquaculture vaccines for better profits and reduce loss due to infections. Furthermore, due to increasing urbanization, consumers are increasingly aware of the nutritional value of animal protein for healthy, sustainable, high-quality meat products with little or no drugs. In addition, aquaculture is enjoying encouraging support from governments owing to the increase in demand for fish products.
However, natural causes restraining the growth of aquatic life will hamper the market growth rate. Moreover, the cost involved in producing aquaculture vaccines is expensive and may challenge the market in the future.
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