The global aquaculture vaccines market is worth US$ 406 Million as of now and is expected to reach US$ 913.6 Million by the year 2033 at a CAGR of 8.5% between 2023 and 2033.
Surge in aquaculture is the factor majorly driving the aquaculture vaccines market. There is an ever-increasing demand for canned fish products, seafood, and aquaculture-oriented activities. It is a known fact that seafood is rich in nutrition and ends up creating a positive impact on human health.
Live vaccines comprise live viruses and bacteria with a comparatively lower severity in the fish species. As live vaccines do induce cell-mediated & humoral antibodies and mucosal immunity, the immunity of the fish gets boosted. Extensive research is being conducted on this count so that benefits like ease of culturing, cost-effective production, and clear genetic composition could be availed.
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Immersion vaccines are reported to showcase superlative efficiency wherein mass vaccination is needed. They do receive stress on the fish and do minimize risks that the vaccination teams could be subject to. The basic functionality of immersion vaccines is that of bringing immune cells in the fills/skin of fish in touch with antigens; thereby stimulating the production of antibodies.
The aquaculture sector is exposed to prevalence of bacterial infections in the present scenario. Challenges like these are certainly prompting the fish farmers to significantly invest in incorporation of aquaculture vaccines. Besides, it has been observed that almost 70% of salmon consumed worldwide is farmed. Banning the sales of antibiotics is encouraging the fish farmers to go for high-value aquaculture vaccines.
At the same time, lack of awareness regarding importance of aquaculture vaccines in the under-developed economies is likely to hamper the aquaculture vaccines market in the near future.
Future Market Insights has entailed these facts with future perspectives in its latest market study entitled ‘Aquaculture Vaccines Market’. It has its dedicated team of analysts and consultants to execute using a bottom-up approach in its primary, secondary, and tertiary modes of research.
“With fish farming sector being compelled to churn out effective solutions for preventing viral and bacterial infections, the global aquaculture vaccines market is likely to witness consistence in the near future”, says an analyst from Future Market Insights.
Key Takeaways from Aquaculture Vaccines Market:
- Europe holds more than 20% of the market share. This could be attributed to Norway being the largest exporter of salmon along with growing concerns regarding antimicrobial activities. The Norwegian Medicines Agency does make provision of specific guidelines and regulations related to the applications of autogenous vaccines. The European Commission has funded a huge-scale collaborative project under 7th Framework Programme for extending support to aquaculture industry.
- North America holds a significant market share with the US witnessing a rising demand for safe and clean fish and other marine foodstuff.
- The Asia-Pacific is expected to witness a sizable growth in aquaculture vaccines market going forward due to booming aquaculture vertical, thereby resulting in increase in production of various aquatic species like tilapia (especially in Japan).
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Competitive Vaccines:
- Virbac, in September 2020, did announce acquiring a series of tilapia vaccines from Ictyogroup (an animal health company specializing in research pertaining to biology). These two companies also inked a partnership agreement for Aqua Virbac division developing novel formulations and vaccines.
- Barramundi Asia, in January 2020, did announce merging with Allergo Aqua with the objective of bringing fingerling research in-house. The method has thus helped in maintenance of long-term relationships.
- Merck, in August 2020, completed acquisition of IdentiGEN to extend its line-up of livestock and aquaculture products.
- Elanco, in December 2020, did move its headquarters to Indiana to complement its IPP (Innovation, Portfolio & Productivity) strategy and also establish a center of excellence for consolidation of future footprint.
- CIBA, in April 2021, did launch Nodavac-R, which comes across as an injectable recombinant viral nervous necrosis (VNN) vaccine to avert vertical transmission in the brooders.
- MSD Animal Health, in November 2019, did launch AQUAVAC Strep Sa-Si injectable and dip immersion vaccine against Streptococcis in the tilapia fish in LATAM.
What does the Report span?
- The research study is based on product type (attenuated live vaccines, inactivated vaccines, subunit vaccines, DNA vaccines, and recombinant vaccines), by route of administration (oral, injected, and immersion & spray), and by type (viral, bacterial, and parasitic).
- With rising demand for aquatic animal-derived food products, the global aquaculture vaccines market is bound to grow graciously in the near future.
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Key Companies Profiled:
- GlaxoSmithKline plc
- Merck & Co., Inc
- Pfizer, Inc.
- Sanofi SA
- CSL Limited
- Emergent BioSolutions, Inc.
- Johnson & Johnson
- AstraZeneca plc
- Serum Institute of India Pvt. Ltd.
- Bavarian Nordic A/S
- Mitsubishi Tanabe Pharma Corporation
- Daiichi Sankyo Company, Limited
- Panacea Biotec, Ltd.
- Biological E Limited
- Bharat Biotech Ltd.
- Novavax, Inc.
Market Segments Covered in Aquaculture Vaccines Industry Analysis:
Product Type Outlook:
- Attenuated Live Vaccines
- Inactivated Vaccines
- Subunit Vaccines
- DNA Vaccines
- Recombinant Vaccines
Route of Administration:
- Oral
- Injected
- Immersion & Spray
Regional Outlook:
- Bacterial
- Viral
- Parasitic
Regional:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa (MEA)
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