Aquaculture Vaccines Industry Overview
The global aquaculture vaccines market size was valued at USD 322.4 million in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 8.4% from 2021 to 2028.
High aquaculture production, high prevalence of infectious diseases in the aquaculture sector, and growing demand for aquatic animal-derived food products are the factors expected to drive the market. The sector has witnessed a change of trend to DNA vaccines from live attenuated vaccines and is swiftly accepting recombinant vaccines as well. Many key players involved in aquaculture vaccines as well as other sectors of animal and human health markets diverted their resources to manufacture critical products and supplies. For instance, during its Q3 earnings release, Zoetis reported a 13% higher revenue compared to the third quarter of the previous year. The performance was driven by the newly launched companion animal parasiticide product as well as Zoetis’ key dermatology portfolio. As a response to COVID-19, the company ramped up its inventory for all aspects of supply chain components. This was followed by the deployment of inventory to market-specific warehouses. This negatively impacted the market growth.
Gather more insights about the market drivers, restrains and growth of the Global Aquaculture Vaccines Market
Effective and safe vaccination programs are key tools for ensuring sustainable development of the aquaculture sector, which helps in meeting the growing protein demand globally. Aquaculture is widely regarded as one of the most essential weapons against world malnutrition and hunger. To realize its potential, the aquaculture industry will have to provide a varied range of high-value products for worldwide markets as well as ensure an abundant supply of low-cost fish for domestic consumption in the global south.
According to Aquaculture Research & Development journal, from 2014 to 2018, approximately 219 cases of infectious diseases in the fresh aquaculture sector were registered. Among these, 74.88% were parasitic, 12.80% were bacterial, 1.83% were viral, and 10.50% cases were a mix of parasitic and bacterial diseases. Therefore, such a high prevalence of infectious diseases is expected to boost the demand for vaccines, hence fueling the market growth.
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Aquaculture Vaccines Market Segmentation
Grand View Research has segmented the global aquaculture vaccines market report on the basis of product, route of administration, application, and region:
Aquaculture Vaccines Product Outlook (Revenue, USD Million, 2016 – 2028)
- Attenuated Live Vaccines
- Inactivated Vaccines
- Subunit Vaccines
- DNA Vaccines
- Recombinant Vaccines
Aquaculture Vaccines Route Of Administration Outlook (Revenue, USD Million, 2016 – 2028)
- Immersion & Spray
Aquaculture Vaccines Application Outlook (Revenue, USD Million, 2016 – 2028)
Aquaculture Vaccines Regional Outlook (Revenue, USD Million, 2016 – 2028)
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Market Share Insights
- December 2020: Elanco moved its global headquarters to Indiana, the U.S. This complemented the company’s Innovation, Portfolio, & Productivity (IPP) strategy and helped establish a center of excellence for Elanco’s future footprint consolidation.
- July 2020: Zoetis acquired Fish Vet Group from Benchmark Holdings, PLC. This added to the company’s Pharmaq business, which is involved in fish vaccines and services.
Key Companies profiled:
Some prominent players in the global aquaculture vaccines market include:
- Phibro Animal Health Corporation
- Merck & Co., Inc.
- Kyoto Biken Laboratories, Inc.
- Nisseiken Co., Ltd.
- Vaxxinova International BV
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