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), COVID-19 Impact Analysis, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027

Industry Trends

Aquaculture Vaccines Market size surpassed USD 201.5 million in 2020 and is expected to witness growth rate of around 4.4% from 2021 to 2027. Bacterial and viral diseases have major economic implications on aquaculture produce and profits. On an average, over 50% of the infectious diseases that affect the aquaculture produce are caused either due to bacteria or viruses.
 

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The spread of COVID-19 pandemic across the globe has impacted the aquaculture vaccine in industry negatively in 2020. This is attributed to increasing number of COVID-19 infections along with logistical disruption in supply chains. Furthermore, decrease in the production of aquaculture vaccines owing to the reduced workforce coupled with shifting trends to develop vaccine for COVID-19 infection has influence the market growth negatively in 2020 to certain extent. However, with consecutive second and third wave of COVID-19 infections in various countries, the market is set to observe a sluggish growth in the short-term period.
 

Rising usage of aquaculture vaccines over antibiotics

Vaccination of farmed fish has significant benefits in combating viral and bacterial diseases with absence of undesirable side-effects of antibiotics. Also, overuse of antibiotics leads to development of resistance, that ultimately leads to loss of aquaculture produce and significant economic losses. Currently, countries in Europe such as Norway have virtually stopped use of antibiotics in aquaculture practices. This has positively influenced the aquaculture vaccines market growth and lowering the risk of antibiotic resistance. Moreover, with introduction of DNA and subunit vaccines due to technological advancements, the adoption of aquaculture vaccines will increase as compared to antibiotics.
 

Stringent regulatory policies for manufacturing and approval of aquaculture vaccines is one of the major growth impending factors. Majority of countries have their own regulatory processes and agencies for aquaculture vaccine products approval. Also, multiple approvals are required for commercialization of aquaculture vaccines. However, long and tedious approval process by the U.S. FDA and European Union will act as the major entry barrier for new vaccines and put additional restrain on current market players.
 

Inactivated vaccines segment dominated the overall aquaculture vaccine market

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Inactivated vaccines segment accounted for around USD 163.1 million in 2020. The inactivated vaccines produce strong immune responses by retaining inactivated genomic component and the virus surface exposed antigens are important for strong immune response. Moreover, inactivated vaccine does not persist in the vaccinated fish or within the environment, thus they are safe in nature, thereby fostering the demand.
 

Advantages of injection vaccine to boost the segmental growth

Injection vaccines held more than 61.1% of the aquaculture vaccines market share in 2020. Injection vaccines allow direct delivery of antigen into the body cavity or muscle, thereby allowing the direct stimulation of systematic immune response. Thus, the greater ability of injection vaccines to treat several bacterial and viral infectious as compared to other route of administration is slated to spur the industry statistics.
 

Rising prevalence of bacterial diseases especially in Asia Pacific

Bacterial infection vaccine is poised to register about 4.3% CAGR during 2021 to 2027 driven by increasing incidence of bacterial infections such as vibriosis, streptococcosis, pseudomonasis and others in various fish species. Growing prevalence of bacterial infections in aquaculture has claimed millions of fish lives, this resulted in the heavy economic losses for fish farmers as well as regional economy.
 

Salmon species to dominate the overall market

Aquaculture vaccines intended for salmon is forecast to reach USD 156.1 million by 2027. Factors such as growing demand for salmon products along with increasing need for protection against viral and bacterial infections will augment the aquaculture vaccines market growth for salmons. Also, ban on sales of antibiotics for aquaculture will positively drive demand. Additionally, growing demand for fish protein will add more pressure on the wild fish reserve, thus leading to business expansion. Various technological advances and innovations will lead to high adoption rate of salmon vaccines.
 

High R&D activities and favorable government policies in North America

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North America aquaculture vaccines market is anticipated to observe above 4.7% gains through 2027. Increasing research and development investment by major players such as Zoetis Inc. and Merck & Co. is fuelling the regional industry revenue. Also, government funding for development of aquaculture vaccines will further escalate the market share. For instance, in February 2021, the Foundation for Food & Agriculture Research (FFAR) funded about USD 790,326 for seeding solutions grant to the University of Florida. This fund aimed to help develop a vaccine delivery system that will prevent the spread of tilapia lake virus and other diseases in the aquaculture industry.
 

Growth strategies of companies are focused on increasing the customer base

Few of the notable aquaculture vaccines market participants include Zoetis Inc., Merck & Co., Inc., HIPRA, Tecnovax, Virbac and Veterquimica S.A among others. These industry leaders adopt strategies such as novel product launch, mergers and acquisitions to foster business outlook.
 

Recent industry developments:

• In September 2020, Virbac announced the acquisition of range of tilapia vaccines from Ictyogroup, an animal health company specialized in R&D biology. In addition to this acquisition, the two companies signed a partnership agreement for the development of new vaccines and new formulations for the Aqua Virbac division. This agreement is expected to avail the complete and innovative range of tilapia vaccines in Africa, Asia and Latin America. This strategy enabled company to add value to its existing portfolio and expand their customer base in untapped economies.
   
• In January 2020, Barramundi Asia, a Singapore based company announced a merger with compatriot Allergo Aqua. The merger aimed to bring in-house fingerling R&D vaccination. This strategy helped companies to maintain long-term business relations, thereby strengthening its market presence.
   

This market research report on aquaculture vaccines includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2016 to 2027, for the following segments

Market, By Type of Vaccine

• Inactivated vaccine
• Live vaccine
• Others

Market, By Route of Administration

• Immersion vaccines
• Injection vaccines
• Oral vaccines

Market, By Application

• Bacterial infection
• Viral infection
• Others

Market, By Species

• Salmon
• Trout
• Tilapia
• Others

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Spain
  • Italy
  • Norway
  • Ireland
  • Turkey
  • Denmark
• Asia Pacific
  • China
  • Indonesia
  • Philippines
  • Thailand
  • Australia
  • New Zealand
• Latin America
  • Brazil
  • Mexico
  • Chile
• Middle East and Africa
  • Iran
  • Egypt