The market size of the Global Aquaculture Vaccines Market in the year 2021 is valued at 364.19 million and is predicted to reach 877.67 million by the year 2030 at an 10.51% CAGR during the forecast period.
Vaccination creates or enhances immunity against a particular illness or group of illnesses. There is always a possibility of pathogenic outbreaks in aquaculture methods, impacting the farm's output. Vaccines for aquaculture are used to shield the fish from any infection. Increased demand for food products made from aquatic animals, such as oil, protein powders, caviar, and meat, as well as the rate of disease progression in marine animals, would restrain the growth of the aquaculture vaccines market. Over the forecast period, there is expected to be a rise in demand for commercial aquaculture vaccines due to the increased prevalence of bacterial diseases among aquatic species. The aquaculture vaccine market has also expanded due to rising global demand for and production of aquatic species.
However, the aquaculture vaccinations business has suffered due to the COVID-19 epidemic. Additionally, it's anticipated that short-term market weakness would result from growing knowledge of the risks associated with animal-to-human virus transmission. Moreover, complicated vaccine production processes, high vaccination costs, and strict regulatory requirements for aquaculture vaccine approval would restrain the market's expansion.
The Aquaculture Vaccines market is segmented on the vaccine type, application, route of administration and species. Based on the vaccine type, the market is segmented into Inactivated Vaccine, Attenuated Live Vaccine, DNA Vaccine and Others. Based on application, the Aquaculture Vaccines are segmented into Bacterial Infection, Viral Infections, Combined Bacterial and Viral Infections and Others. Based on route of administration, the market is segmented into Immersion Vaccines, Injection Vaccines and Oral Vaccines. Based on species, the market is segmented into Salmon, Seabass and Seabream, Tilapia, Trout, Turbo and Carp.
Based on the vaccine type, the inactivated vaccines segment is accounted as a major contributor to the Aquaculture Vaccines market.
Inactivated vaccines dominated the market for vaccinations used in aquaculture. Large quantities of the disease-causing microorganisms are fermented to create inactivated bacterial and viral vaccines. Then, inactivating chemicals like formalin are used to eliminate all the germs. These inactivated organisms have their basic structure, original antigen properties, and form, which causes an immune response. The recombinant vaccines market is projected to expand significantly. Recombinant vaccines can imitate naturally occurring illnesses and induce a potent immune response in inoculated fish. Recombinant vaccines are also simpler to manufacture on a large-scale, commercial basis.
The injection vaccines segment witnessed growth at a rapid rate.
Injection vaccines dominated the market share for aquaculture vaccines. Injection vaccinations allow for the direct induction of a systemic immune response by delivering antigens directly into a bodily cavity or muscle. Injection vaccines' superior capacity to cure various bacterial and viral infectious diseases compared to other routes of administration is thus expected to boost industry statistics.
The European Aquaculture Vaccines market holds a significant revenue share in the region.
The European Aquaculture Vaccines market is expected to register the highest market share in revenue in the near future. The main drivers propelling this regional market include Norway's position as the region's largest salmon exporter, supportive government and business sector initiatives, growing public concern about the prevalence of antibiotic resistance, and the existence of significant companies. The Norwegian Medicines Agency has specific guidelines and recommendations for autogenous vaccination applications. Additionally, autogenous vaccinations should only be used when commercial vaccines are either not accessible or do not provide adequate protection. In addition, Asia Pacific is projected to expand in the global Aquaculture Vaccines market because of growing demand, a thriving aquaculture industry, encouraging government initiatives, adequate water resources in many regions, and a drive toward sustainable aquaculture, among other factors. Several aquatic species, including tilapia, are abundant in this area.
Some major key players in the Aquaculture Vaccines market are Pharmaq AS (Zoetis, LLC) (Norway), Merck Animal Health (Merck & Co., Inc.) (USA), KoVax Ltd. (Part of Phibro Animal Health) (Israel), Hipra (Spain), Tecnovax SA (Argentina), Veterquimica S.A. (Chile), Nisseiken Co. Ltd. (Japan), Virbac S.A. (France), Elanco (USA) and Kyoritsuseiyaku Corporation (Japan).