Aquaculture Vaccines Market Size By Type of Vaccines (Inactivated Vaccines, Live Vaccines), By Route of Administration (Immersion Vaccines, Injection Vaccines), By Application (Bacterial Infection, Viral Infection), By Species (Salmon, Trout, Tilapia), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, Norway, Ireland, Turkey, Denmark, China, Indonesia, Philippines, Thailand, Australia, New Zealand, Brazil, Mexico,, Chile, Iran, Egypt), Application Potential, Competitive Market Share & Forecast, 2019 – 2025

Industry Trends

Aquaculture Vaccines Market size was valued at USD 195.6 million in 2018 and is expected to witness more than 6% CAGR from 2019 to 2025.  
 

U.S. aquaculture vaccines market, by type of vaccines, 2018 & 2025 (USD Million)

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Rise in adoption of vaccines by aquaculture farmers will be one of the major growth rendering factors. Various regulations and restrictions on use of antibiotics for use is aquaculture by developed countries will increase adoption rate of aquaculture vaccines. Also, vaccination improves the survival rate and profitability in aquaculture production. With introduction of DNA and subunit vaccines due to technological advancements, the adoption of vaccines for aquaculture will increase in the upcoming years.
 

Development of novel and advanced vaccines for treatment of various bacterial and viral infections during fish farming will boost industry growth. Major market players are focusing on launch and development of newer vaccines for bacterial infections. For instance, Hipra launched Icthiovac VR/PD injectable vaccine in March 2018, for the treatment of vibriosis and pasteurellosis in seabass. Additionally, various funding and research programs for development of innovative vaccines will drive aquaculture vaccines market growth.
 

Aquaculture Vaccines Market, By Type of Vaccines

Chile aquaculture vaccines market share, by type of vaccines, 2018

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Inactivated vaccines held significant market share, accounting for a total value of USD 158.2 million in 2018. These vaccines produce strong immune responses by retaining inactivated genomic component and the virus’ surface exposed antigens that are important for strong immune response. Induction of strong and long-lasting immune response will boost the segmental growth.
 

Vaccines such as subunit and recombinant DNA vaccines are estimated to expand at a CAGR of 6.5% over the forecast period. Advent of molecular biology allowed production of the most highly antigenic proteins that induce very strong immune response. Moreover, growing R&D initiatives by major market players for launch of innovative and technologically advanced subunit vaccines will foster market growth.
 

Aquaculture Vaccines Market, By Route of Administration

Injection vaccines generated maximum revenue share in the year 2018 with a value of USD 120.2 million. The ability of injection vaccines to treat several bacterial and viral infectious will boost the segmental growth. Additionally, automation and technological advancements will further augment segmental growth in the future.
 

Immersion vaccines market is forecasted to experience robust growth at 6.7% over the projection period. Growing incidence of viral and bacterial diseases along with growing research and clinical trials for development of novel and advanced vaccines will boost market growth. Ease of administration and various advantages associated with immersion vaccines will significantly drive market growth.
 

Aquaculture Vaccines Market, By Application

Bacterial infection vaccines market segment dominated the industry, accounting for USD 130.7 million in 2018. Growing incidence of bacterial infections such as vibriosis, streptococcosis, pseudomonasis and others will drive segment growth. As per a study published in Virus Diseases Journal, more than 50% of aquaculture diseases occur due to bacteria. Rising prevalence of bacterial infections in aquaculture will boost market growth.
 

Viral vaccines market is estimated to grow at 6.4% during the forecast timeframe. Viral infections such as infectious salmon anemia (ISA) and infectious pancreatic necrosis (IPN) lead to heavy economic loss in aquaculture. Such factors will drive growth of viral aquaculture vaccines market in the coming years.
 

Aquaculture Vaccines Market, By Species

Aquaculture vaccines intended for salmon generated maximum revenue of USD 116.8 million in 2018. Factors such as growing demand for salmon products along with increasing need for protection against viral and bacterial infections will augment the growth of aquaculture vaccines market for salmons. Additionally, ban on sales of antibiotics for aquaculture will positively drive market growth.
 

Tilapia vaccines segment is forecasted to expand at 6.8% CAGR across the forecast timeframe. Growing production of tilapia to meet the increasing demand for exotic species will foster industry growth. Furthermore, development of genetically improved tilapia species for increasing production will further drive business growth in tilapia vaccines sector.
 

Aquaculture Vaccines Market, By Region

Europe aquaculture vaccines market share, by country, 2025 (USD Million)

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Norway aquaculture vaccines market valued USD 48.3 million in the year 2018. Presence of favorable and conducive geographic conditions for fish farming coupled with presence of large number of fish farming companies will boost aquaculture vaccines market. Furthermore, growing demand for Norwegian salmonids and increasing need for protection of farmed fish from various bacterial and viral infections will eventually propel the market growth in Norway.
 

China is estimated to exhibit a significant growth of 7.3% during the forecast period due to increased production of tilapia and other species. For instance, as per the Food and Agriculture Organization of the United Nations (FAO), production of tilapia in China increased from 1,665 thousand tonnes to 1,776 thousand tonnes from 2014 to 2017. Additionally, major players are focusing on growing market such as tilapia vaccines and carp vaccines that will render positive effect on China aquaculture vaccines growth.
 

Competitive Market Share

Few of the notable industry players operating in global aquaculture vaccines market are Zoetis Inc., Merck & Co., Inc., HIPRA, Tecnovax, Virbac and Veterquimica S.A. Various strategies such as mergers and acquisitions, collaborations and new product launch are undertaken by these players in order to capture high revenues. For instance, in November 2015, Zoetis announced acquisition of PharmaQ. This acquisition was aimed at strengthening the livestock segment of Zoetis and broaden its vaccines portfolio.  
 

Aquaculture Vaccines Industry Background

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The concept of aquaculture vaccines was introduced in 1940s and the first aquaculture vaccine was licensed in 1976 in U.S. With exponential growth of aquaculture production since 1970, there have been tremendous advances in development of novel and innovative vaccines. Currently, aquaculture vaccines are available for more than 30 bacterial and viral infections. Although, there are no marketed vaccines for parasitic or fungal infections, continuous efforts by various market players and government research institutes will open new avenues for market growth. Additionally, numerous R&D activities for launch of novel products will boost market growth.

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