Aquaculture Vaccines Market Size
Aquaculture Vaccines Market size surpassed USD 214.6 million in 2022 and is estimated to witness 7.6% CAGR between 2023 and 2032. Aquatic food consumption is on the rise because of increased supply, evolving consumer preferences & tastes, technological advancements, and wage inflation. Hence, the rising aquaculture industry is likely to boost the demand for aquaculture vaccines for higher production, fuelling the global market demand throughout the forecast period.
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The aquaculture vaccine market is expected to grow because of several factorsMore diseases in fishInfectious diseases are becoming more common in fish, leading to an increase in demand for vaccines. New vaccines Companies are developing new and improved vaccines to treat these diseases. Innovation in the industry The aquaculture industry is constantly innovating, leading to the development of new technologies and products, including vaccines. However, the growth of the aquaculture vaccine market could be slowed down by government regulations. Strict regulationsGovernments have strict rules in place to make sure that vaccines are safe and effective for fish. Long approval process It can take a long time to get a vaccine approved for use in fish. Expensive research Research and development of new vaccines can be expensive, which could make it difficult for smaller companies to enter the market. Despite these challenges, the aquaculture vaccine market is expected to grow in the coming years. This is because the demand for fish and seafood is increasing, and vaccines are an important tool for protecting fish from disease.
Aquaculture Vaccines Market Report Attributes
| Report Attribute |
Details |
| Base Year |
2022 |
| Aquaculture Vaccines Market Size in 2022 |
214.6 Million (USD) |
| Forecast Period |
2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR |
7.5% |
| 2032 Value Projection |
444.5 Million (USD) |
| Historical Data for |
2018 to 2022 |
| No. of Pages |
170 |
| Tables, Charts & Figures |
278 |
| Segments covered |
Raw material, Application, End-use, and Region |
| Growth Drivers |
- Surging prevalence of bacterial and viral infections
- Increasing aquaculture production across the globe
- Development and launch of new aquaculture vaccines
- Rising adoption of aquaculture vaccines over antibiotics
|
| Pitfalls & Challenges |
- Stringent regulatory policies for vaccine approval
|
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Increasing demand for aquaculture vaccines for higher production to proliferate the market growth
The increasing demand of aquaculture vaccines for higher animal-derived food production is anticipated to proliferate the market growth. The aquaculture industry has grown quickly in recent decades. A sustainable aquaculture business is crucial for the global food supply and economy since it contributes significantly to the provision of high-quality protein meals for people. It also helps in plant producing vaccines like genetically modified crops with desired traits have been created via plant genetic engineering, which has also been used to create vaccines.
Aquaculture Vaccines Market Analysis
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Based on type of vaccines, the aquaculture vaccines market is segmented as Inactivated vaccine, Live vaccine, and others. The inactive vaccines segment is expected to reach around USD 362.1 million by 2032. Antibiotics and probiotics appear to be less effective when novel mutant strains emerge, and disease-causing microorganisms gain resistance to routinely used antibiotics. Therefore, as a result, vaccinations produced using reducing molecular methods can be viewed as an effective method of treating disease-causing in aquatic creatures and assist to boost immunity to a particular disease or group of infections.
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Based on Route of Administration, aquaculture vaccines market is segmented as Immersion vaccines, Injection vaccines, Oral vaccines, and others. The Injection vaccines segment accounted for around USD 139.1 million in 2022. Injection vaccines are an efficient method of eliciting an antibody response in fish. The injection might be intramuscular or intraperitoneal. Most aquaculture vaccinations defend against bacterial infections. They can be taken through injections or oral intake (intraperitoneal or intramuscular).
Based on application, the aquaculture vaccines market is segmented as Bacterial infection, Viral infection, and others. The bacterial infection segment is estimated to show a lucrative CAGR of over 7.5% from 2023 to 2032. A bacterial infection develops when germs enter the body, multiply, and induce a response. In aquatic creatures, disease-causing microorganisms can be effectively treated using vaccines created techniques are effective, advanced molecular technology, which are cost effective.
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Norway aquaculture vaccines market is anticipated to reach more than USD 96.16 million by 2032. The significant market share is owing to several factors including presence of major market players, an increase in the demand for Aquaculture Vaccines, and increasing supply chain for the vaccines. Several market players in the region are engaged in new product development & commercialization that facilitates the Aquaculture Vaccines industrial expansion in the region.
In January 2023, ScaleAQ collaborated with fish vaccination specialist Skala Maskon by this the firm intends to broaden its value chain to become a whole supplier and partner to the farming sector. This is a strategic and significant purchase that brings together a diversified and robust expertise environment within the aquaculture sector's supply business. It will boost the company's position as a holistic supplier of vital infrastructure for the agricultural industry. Thus, the above-mentioned factors are projected to boost the European Aquaculture Vaccines industry growth during the analysis timeframe.
Aquaculture Vaccines Market Share
Some of the major market players operating in the Aquaculture Vaccines industry are
- Zoetis Inc.
- Merck & Co., Inc
- HIPRA
- Tecnovax
- Virbac
- Veterquimica S.A
- Nisseiken Co. Ltd.
- Phibro Animal Health Corporation
- Vaxxinova International BV
- Kyoto Biken Laboratories, Inc.
These organizations are concentrating their efforts on strategic partnerships, mergers, and acquisitions to maintain their competitive advantage. For instance, In July 2020, Zoetis acquired Benchmark Holdings, Plc Fish Vet Company to expand the company's global presence and analytical skills.
Impact of COVID-19 pandemic
The outbreak of the COVID-19 pandemic in 2020 hindered aquaculture vaccine manufacturing throughout the globe. The overall business performance was affected by a substantial increase in the spread of illness and pandemic-related disease and death, as well as major supply chain disruptions. Owing to lockdown constraints and social distancing conventions, aquaculture vaccine production has been hampered by a labour shortage and an increased focus on making COVID-19 vaccines.
Aquaculture Vaccines market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2018 to 2032, for the following segments
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By Type of vaccines
- Inactivated vaccines
- Live vaccines
- Others
By Route of Administration
- Immersion vaccines
- Injection vaccines
- Oral vaccines
By Application
- Bacterial infection
- Viral infection
- Others
By Species
- Salmon
- Trout
- Tilapia
- Others
The above information is provided for the following regions and countries
- North America
- Europe
- Germany
- UK
- France
- Spain
- Italy
- Norway
- Ireland
- Turkey
- Denmark
- Asia Pacific
- China
- Indonesia
- Philippines
- Thailand
- Australia
- New Zealand
- Latin America
- Middle East & Africa
