U.S. aquaculture vaccines market, by type of vaccines, 2018 & 2025 (USD Million)
Aquaculture Vaccines Market size is set to exceed USD 290 million by 2025; according to a new research study published by Global Market Insights, Inc.
Increasing prevalence of bacterial and viral infections among aquaculture species across the world is one of the major growth augmenting factors, since aquaculture vaccines are the most efficient form of treatment for such diseases. As per the National Institute of Health (NIH), bacterial diseases are the most prevalent disease challenge in fish farming accounting for about 54.9% of cases worldwide. Hence, rising incidence of such diseases will augment aquaculture vaccines market growth over the forecast period.
Increasing aquaculture production around the globe coupled with development and launch of new aquaculture vaccines for different species will further propel the market growth. For instance, as per the Food and Agriculture Organization of United Nation (FAO), the production of salmon species has increases from 1.3 million to 2.2 million over the last decade.
Stringent regulatory policies for approval of aquaculture vaccines is one of the major growth impending factors. Moreover, some commercial vaccines for fish consist of mixtures of two to four vaccine products. Hence, such complex manufacturing procedure of vaccines associated with high cost will limit the growth of aquaculture vaccines market.
Inactivated vaccine market was valued at around USD 158.2 million in the year 2018. Inactivated vaccines were introduced with an aim to protect the aquaculture species against any disease outbreaks. When disease outbreaks such as bacterial and viral infections occur, diagnostics are conducted to identify the cause, and then appropriate treatments are taken into consideration. Inactivated vaccines are much efficient in treating such diseases thus reflecting an upward trajectory in aquaculture vaccines market over the forecast timeframe.
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Immersion vaccines segment is estimated to witness a CAGR of 6.7% over the forecast timeframe. Immersion vaccines allows immune cells located in the fish’s gills and skin to become directly exposed to antigens. These immune cells may then witness antibody production, thus protecting the fish from future infections. Immersion vaccination occurs by the means of dipping depending on the size and species type. Hence, growing efficiency of such vaccines will augment market growth.
Bacterial infection segment was valued at around USD 130.7 million in the year 2018. A salmonicida, Aeromonas hydrophila, Vibrio spp, E tarda, Edwardsiella ictalurid, Streptococcus spp, and other related gram-positive bacteria, can also infect aquaculture species. For instance, yersiniosis is a chronic bacterial disease of intensively cultured salmonids. Hence, rising prevalence of such diseases will augment aquaculture bacterial infection vaccines growth in the near future.
Over half of the salmon consumed globally are farm-raised. The introduction of vaccines into salmon aquaculture made large-scale production feasible by preventing infections. Hence, the rising production of firm-raised salmons will boost salmon aquaculture vaccines market by 6.0% CAGR over the projected timeframe.
Canada market is one of the largest in the world and is projected to expand at a CAGR of 6.3% over the forecast period. During the forecast timeframe, the country will continue to grow at a global level. Increasing investments in the research and development of aquaculture vaccines by major players in Canada such as Merck Animal Health and Zoetis will augment the growth during the projection years.
Some of the key industry players operating in the global aquaculture vaccines market are Hipra, Zoetis Inc., Merck & Co., Inc., Tecnovax, Virbac, Veterquimica S.A., and Nisseiken Co. Ltd. The industry participants emphasize on acquisitions and mergers, geographical expansion and novel product developments to strengthen their position in the market and gain competitive advantage over its peers.
Source: https://www.gminsights.com/industry-analysis/aquaculture-vaccines-market
