Aquaculture Vaccines Market size worth exceeded USD 321.8 Billion in 2022 and is projected to record a CAGR of over 7.3% from 2023 to 2032. By the end of the forecast period, the market is anticipated to surpass more than USD 637.6 Billion.
Aquaculture vaccines are a type of vaccine that is given to fish to treat various infectious diseases. Fish are given these vaccines to protect them from disease agents. Vaccines are classified into several types, the most common of which are live vaccines and inactivated vaccines. Inactivated vaccines, which are far more effective than traditional vaccines in treating infectious diseases, are used to protect aquaculture species from disease outbreaks.
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The Asia-Pacific region is the largest market for aquaculture vaccines, driven by the large aquaculture industry in countries such as China, India, and Indonesia. North America and Europe are mature markets for aquaculture vaccines, with a high level of awareness regarding the benefits of vaccines in aquaculture. Consumption of aquatic foods is increasing due to increased supply, changing consumer preferences and tastes, technological advancements, and wage inflation. As a result, the growing aquaculture industry is projected to drive the demand for aquaculture vaccines in the coming years.
For instance, in November 2022, In collaboration with the Central Institute of Fisheries Education (CIFE), Indian Immunologicals Ltd (IIL) is set to introduce India's inaugural fish vaccine designed to safeguard freshwater fish against prevalent bacterial ailments.
Aquatic diseases are a major challenge for the aquaculture industry, causing significant economic losses and threatening food security. The rising prevalence of aquatic diseases is driving the demand for effective vaccines to protect aquatic species from infectious agents. Vaccines provide a cost-effective and sustainable solution to prevent and control the spread of aquatic diseases, reducing the need for antibiotics and other treatments.
Governments around the world are recognizing the importance of the aquaculture industry for food security and economic development, and are providing increasing support for the development and use of aquaculture vaccines. This includes funding for research and development, regulatory support, and incentives for aquaculture producers to adopt vaccines as part of their disease management strategies. These prominent factors are anticipated to continue to fuel the growth of the market in the coming years.
The cost of developing and producing aquaculture vaccines can be relatively high, which may limit their adoption by small-scale and low-income aquaculture producers. This could potentially limit the growth of the aquaculture vaccines market, particularly in emerging economies where cost is a major consideration. The development and approval of aquaculture vaccines is subject to complex and stringent regulatory requirements in many countries. This can result in lengthy and costly approval processes, which may discourage some vaccine developers and limit the availability of vaccines for certain species or regions.
By Type of Vaccines Synopsys:
On the basis of type of vaccines, the aquaculture vaccines market is segmented into live, and inactivated. Live vaccinations are often significantly more immunogenic than inactivated vaccines because they more closely mimic natural infection by activating a variety of immunologic responses, and in most cases, just one vaccination is enough to produce long-lasting, and occasionally lifetime, immunity. As a result of the widespread use of live vaccines in immunization, the live vaccine segment is expected to account for substantial shares of the market under consideration.
North America is a mature market for aquaculture vaccines, with the United States being the dominant country in the region. The aquaculture vaccines market in North America is driven by the increasing demand for seafood and the need for sustainable aquaculture practices. The market is characterized by a large number of small and medium-sized companies that offer a range of vaccines for different aquatic species.
Furthermore, Asia Pacific is the fastest-growing market for aquaculture vaccines, with China being the dominant country in the region. The market is driven by the increasing demand for seafood and the need for sustainable aquaculture practices. The market is characterized by a large number of small and medium-sized companies that offer a range of vaccines for different aquatic species.
- In August 2021, Elanco Animal Health has acquired Bayer Animal Health. The acquisition, valued at US$6.89 Bn, increased Elanco's scale and capabilities, establishing the company as a long-term leader in the animal health industry. The transaction expanded the company's aqua presence into warm water fish and strengthened its global bio-protection portfolio.
- In September 2020, Virbac has announced its purchase of a range of tilapia vaccines from Ictyogroup, an animal health company that focuses on research and development in the field of biology. Aside from the acquisition, the two companies agreed to collaborate on the development of new vaccines and formulations by the Aqua Virbac division.
Top companies includes in the global aquaculture vaccines market are:
- GlaxoSmithKline plc
- Merck & Co., Inc
- Serum Institute of India Pvt. Ltd.
- Pfizer, Inc.
- Sanofi SA
- CSL Limited
- Bavarian Nordic A/S
- Elanco Animal Health
- Emergent BioSolutions, Inc.
- Johnson & Johnson
- AstraZeneca plc
- Mitsubishi Tanabe Pharma Corporation
- Daiichi Sankyo Company, Limited
- Biological E Limited
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In-depth analysis of aquaculture vaccines market along with industry coverage and forecasting for the following segments:
Market Value, By Type
Market Value, By Species
Market Value, By Application
- Viral infection
- Bacterial infection
Market Value, By Region
- North America
- Asia Pacific
- Middle East and Africa
- Latin America