The Commercial Aquaculture Vaccines Market Size is valued at 371.7 Million in 2022 and is predicted to reach 694.9 Million by the year 2031 at a 7.3 % CAGR during the forecast period for 2023-2031.
Key Industry Insights & Findings from the Report:
- The increasing consumption of seafood and the rising need for efficient disease management in intensive aquaculture systems boost the demand for vaccines
- Innovations in vaccine technology, including species-specific formulations and advanced delivery methods, are enhancing the effectiveness of disease prevention in aquaculture.
- Europe region dominated the overall market and accounted for a global revenue share in 2023.
- Economic factors, such as fluctuations in fish prices and the financial instability of fish farming operations, can affect the ability of farmers to invest in vaccines.
Aquaculture is known as the farming of aquatic animals such as fish, tilapia, shrimp, molluscs, and Sea Bass in water. Aquaculture is the better source of income for the food industry. Vaccination plays an important role in commercial Aquaculture. Vaccination would be the best option to reduce bacterial and viral infections in aquaculture. The demand of the aquaculture vaccines market has been rising due to the advancements in the field of fish farming. Modern and advanced technologies, development, and launch of new aquaculture vaccines for different species enhance the growth of the aquaculture vaccines market.
The rising prevalence of bacterial infections among aquatic species is expected to boost demand for the commercial aquaculture vaccines market over the forecast period. Additionally, increasing global consumption and production of aquatic species has heightened the aquaculture vaccines market opportunities. However, the COVID-19 pandemic has created a negative impact on the aquaculture vaccines market. Also, rising awareness of animal-to-human pathogen transmission risks is expected to pull down the market for a short period of time. Moreover, stringent regulatory policies for approval of aquaculture vaccines, complex manufacturing procedures of vaccines, and the high cost of vaccines will limit the growth of the aquaculture vaccines market.
Competitive Landscape
Some of The Key Players in The Commercial Aquaculture Vaccines Market:
- IDT Biologika GmbH (Ridgeway Biologicals Ltd)
- MARINNOVAC (AQUATRECK ANIMAL HEALTH S.L.)
- Ceva Biovac
- Zoetis (PHARMAQAS)
- Vaxxinova
- Barramundi Asia Pte Ltd. (UVAXX Asia)
- HIPRA
- AniCon Labor GmbH
- sanphar (ipeve)
- Kennebec River Biosciences
- Merck & Co. Inc.
- Tecnovax
- HIPRA
- Virbac
- Veterquimica S.A.
- FeedVAX
- KoVax (Phibro Animal Health)
- Nisseiken Co., Ltd.
- Other Prominent Players
Market Segmentation
The commercial aquaculture vaccines market is segmented into Pathogen Types, Fish Species, End-users and Regions. The Pathogen Types segment is further bifurcated into Bacteria and Viruses. In terms of Fish Species, the market can be divided into Salmon, Tilapia, Bream, Labris Bergylta, Cyprinus Carpio, Sea Bass, Trout, and Cyclopterus Lumpur. By End-users, the market is segmented into Fish Farming companies and Aquatic research institute. Based on the region, the commercial aquaculture vaccines market is divided into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. Main regions of this market are North America, Europe, and Asia-Pacific. Asia-Pacific market is expected to grow faster in the future due to the growing aquaculture industry and development in vaccination. China is the leading country of this region.
Bacteria segment will drive the growth of the aquaculture vaccines market during the forecast period due to the rising prevalence of bacterial infections among aquatic species. Based on the fish species segment, salmon is a widely dominating species in the market, due to growing demand and rising production of salmon in leading developed countries and this will boost the aquaculture vaccines market in the future. Among the different end-users, fish farming companies will create more opportunities in this market.
Recent Developments:
- In February 05, 2024 Merck Animal Health, Merck & Co., Inc., Rahway, N.J., USA (MSD Animal Health outside the U.S. and Canada), announced that it will purchase Elanco Animal Health Incorporated aqua business for $1.3 billion in cash. An unique portfolio of aquatic species medications, vaccines, nutritionals, and supplements, two aqua manufacturing sites in Canada and Vietnam, and a Chilean research center were acquired. The transaction is expected to close by mid-2024, pending regulatory approvals and other closing procedures.
The Commercial Aquaculture Vaccines Market Report Scope
|
Report Attribute |
Specifications |
|
Market Size Value In 2022 |
USD 371.7 Million |
|
Revenue Forecast In 2031 |
USD 694.9 Million |
|
Growth Rate CAGR |
CAGR of 7.3 % from 2023 to 2031 |
|
Quantitative Units |
Representation of revenue in US$ Billion and CAGR from 2023 to 2031 |
|
Historic Year |
2019 to 2022 |
|
Forecast Year |
2023-2031 |
|
Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
|
Segments Covered |
By Pathogen Types, By Fish Species, By End-Users |
|
Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
|
Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico ;The UK; France; Italy; Spain; China; Japan; India; South Korea; South East Asia; South Korea; South East Asia |
|
Competitive Landscape |
IDT Biologika GmbH (Ridgeway Biologicals Ltd), MARINNOVAC (AQUATRECK ANIMAL HEALTH S.L.), Ceva Biovac, Zoetis (PHARMAQAS), Vaxxinova, Barramundi Asia Pte Ltd. (UVAXX Asia), HIPRA, AniCon Labor GmbH, Sanphar (ipeve), Kennebec River Biosciences, and Others |
|
Customization Scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
|
Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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