Aquaculture Vaccines Market size is set to surpass USD 265 million by 2027, according to a new research report by Global Market Insights Inc.
The aquaculture vaccines market growth is attributed to the surging prevalence of bacterial and viral infections and increasing aquaculture production across the globe. Moreover, development of novel and advanced vaccines for treatment of various bacterial and viral infections during fish farming will boost the market expansion. Major market players are focusing on launch and development of new vaccines for bacterial infections. Additionally, various funding and research programs for development of innovative vaccines will drive the market progression.
Increasing aquaculture production across the globe is one of the major factors accelerating the market value. Furthermore, launch of new aquaculture vaccines for different species will further propel the industry growth.
Complex vaccine development procedures are one of the major factors that will limit the growth of aquaculture vaccines market. Commercial aquaculture vaccines are prepared by combining two or more vaccines or by combining two or more products to form one effective vaccine. This will result in the increase cost of aquaculture vaccines, thereby limit the industry expansion.
Benefits of live vaccine to strengthen the market revenue
Live vaccine segment is estimated to witness 4.1% growth rate through 2027. Live vaccines are made using live viruses and bacteria that have low level of severity in fish species. Live vaccines can induce humoral and cell-mediated antibodies, in addition to mucosal immunity, thereby generate great immune response in fish. Scientific studies are focusing on live vaccines owing to several benefits such as cost-effective production, ease of culturing and clear genetic background.
Browse key industry insights spread across 170 pages with 265 market data tables & 16 figures & charts from the report, “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” in detail along with the table of contents:
Advantages of immersion vaccines will impel the market demand
Immersion vaccines segment is slated to attain a CAGR of 4.9% till 2027. Immersion vaccines allows immune cells located in the fish's gills and skin to become directly exposed to antigens. These immune cells may then showcase antibody production, thus protecting the fish from future infections, thereby augmenting the segment growth.
Immersion vaccination occurs by the means of dipping depending on the size and species type. Furthermore, certain vital benefits of immersion vaccination such as greater immune response from fish species and mass vaccination will foster the industry progression. It became quite difficult to vaccinate each fish; thus, immersion vaccination is expected to gain popularity among the fishing farmers, thereby influencing the industry value.
Increasing prevalence of viral infection to propel the market growth
Viral infection segment in the aquaculture vaccines market valued at around USD 31.9 million in 2020. Some of the examples of viruses that infect fishes are hematopoietic necrosis virus, salmon anemia and hemorrhagic septicemia. Thus, growing number of viral infections cause severe economic loss to the aquaculture farmer, thereby increasing the demand for aquaculture vaccines.
Benefits of trout will upsurge the industry revenue
Aquaculture vaccines market for trout segment accounted for USD 39.8 million in 2020. Increasing consumer health consciousness led to the shift from high-calories food towards the protein rich diet. Similarly, rainbow trout is a good source of B-vitamin complex, phosphorus, potassium, protein and omega-3 fatty acids, thus there is increase in the demand of trout and need to protect them from diseases. Moreover, health benefits of trout such as enhancing skin health, improving metabolism and minimizing hypertension among others, making it popular among the population, thereby fuel the industry demand.
The favorable government initiatives in the European region are noted to spur the market expansion
Europe aquaculture vaccines market will account for 47% of revenue share by 2027 owing to the favorable initiatives by private and government sector for R&D activities of aquaculture vaccines. Additionally, presence of favorable geographic conditions for fish farming coupled with presence of large number of fish farming companies such as Virbac will stimulate the industry size. Furthermore, growing demand for Norwegian salmonids made Norway the largest exporter of salmons, thereby increases the demand of aquaculture vaccines.
Growing partnership and collaborations among key service providers are noted to strengthen their business portfolio and revenue
Eminent players operating in the market are Hipra, Zoetis Inc., Merck & Co., Inc., Tecnovax, Virbac, Veterquimica S.A., and Nisseiken Co. Ltd. These companies focus on strategies such as innovative technology, product launches, mergers & acquisitions, and collaboration to harvest larger revenue and sustain market competition.