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18

Jan-2022

Aquaculture Vaccines Market Size To Reach USD 320.3 Mn by 2026

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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KEY MARKET INSIGHTS:

  • Based on the route of administration, in 2020, the injected section held 36.75% of the share. Injected route dominated the market due to its various benefits of ease of use, metered dose, and rapid approval. The oral section is anticipated to increase at a maximum CAGR of 8.77% throughout the studied period. Oral vaccination has several advantages over other routes of administration.
  • Based on application, in 2020, the bacterial sector held the leading share of approximately 44%. Bacterial diseases harm more than 20 saltwater and freshwater fish species, leading to significant financial losses in the aquaculture sector. Meanwhile, the viral sector is anticipated to grow at the highest CAGR of 8.75% throughout the timeline. Like bacterial aquatic diseases, viral diseases are also very common and cause huge losses, with viral infections affecting salmon with salmon ISA virus or salmon pancreatic disease caused by SPD virus or IPN caused by IPNV.
  • Based on product, in 2020, the inactivated vaccines section held the largest market share of 34.89%. Inactivated viral and bacterial vaccines are produced by fermentation of pathogenic, bulk pathogens. However, the recombinant vaccines section is anticipated to register a CAGR of 8.66% over the forecasted period. Recombinant vaccines show a strong resistance response and are easier to manufacture recombinant vaccines in large capacity and at the commercial level.
  • Based on the region, in 2020, Europe held more than 25.0% revenue share, owing to the existence of large companies, increasing demand for antimicrobial medications, encouraging the private sector, and government programs. The UK and Norway, the leading exporter of salmon. The increased awareness of the importance and benefits of vaccines for aquaculture, increase in aquaculture activities, research for novel vaccines, and the incidence of bacterial and viral infections will drive the market. The Norwegian Medicines Agency outlines specific rules and policies associated with autogenous vaccines when commercial vaccines are in shortage.
  • Due to the development of sustainable aquaculture, accessibility of suitable water sources in various countries, supportive research and development, booming aquaculture business, increasing demand, and encouraging government programs, the market for Asia-Pacific is likely to observe significant growth over the forecast period.
  • Companies playing a prominent 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, and HIPRA.

The report can be customized as per the requirements; talk to our team @ https://www.marketdataforecast.com/market-reports/aquaculture-vaccines-market/customization

MARKET SEGMENTATION:

By Product:

  • Attenuated Live Vaccines
  • Inactivated Vaccines
  • Subunit Vaccines
  • DNA Vaccines
  • Recombinant Vaccines

By Route of Administration:

  • Oral
  • Injected
  • Immersion & Spray

By Application:

  • Bacterial
  • Viral
  • Parasitic

By Region:

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East and Africa
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WRITTEN BY: Market Data Forecast

Market Data Forecast