“The Global Aquaculture Vaccines Market is expected to reach US$ 3,250.6 Mn by 2025 owing to surge in demand for fish and fish products”
The global aquaculture vaccines market is expected to reach US$ 3,250.6 Mn by 2025. The aspects which are streaming the growth of global aquaculture vaccines market are increased consumption of fish and fish products because of its health benefits and surge in prevalence of diseases in the fishes such as water mould infection, fungal infection, viral and bacterial infection etc. The American Heart Association acclaims eating fish at least two times per week as part of a healthy diet because fish is filled with omega-3 fatty acids and vitamins such as D and B2 (riboflavin). Additionally, fish is rich in calcium and phosphorus and is a great source of minerals, such as iron, zinc, iodine, magnesium, and potassium. Furthermore, government’s initiatives for the aquaculture immunization programs, intensification in adoption of aquaculture vaccines in the developed and developing nations and international trading of aquaculture species will lift the aquaculture vaccines market over the prediction period. Nevertheless, lack of awareness about these aquaculture vaccines in developing and under developed countries hampers the growth of global aquaculture vaccines market.
Global aquaculture vaccines market is segmented on the basis of vaccine type, application, route of administration, species, and region.
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Inactivated Vaccines Dominate the Global Aquaculture Vaccines Market
Based on the vaccine type, global aquaculture vaccines market is segmented into inactivated vaccine, attenuated live vaccine, DNA vaccine, and others. Inactivated vaccines dominated the global aquaculture vaccines market. They produce strong immune response by holding inactivated genomic component and the surface of the virus which is exposed to the antigens that are important for strong immune response. Initiation of strong and long-lasting immune response will enhance the growth of this segment.
Europe Leads the Global Aquaculture Vaccines Market
PBI’s global aquaculture vaccines market report analyses the market in different regions such as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. According to regional analysis, Europe dominated the global aquaculture vaccines market through 2014-2018 and expected to dominate over 2019-2025 owing to growing aquaculture farming and increase in usage of aquaculture vaccines in UK, Greece, Norway, Germany and other European countries. North America aquaculture vaccines market accounted for a significant share in global aquaculture vaccines market due to the presence of major key market players in the region, technological advancements and increasing demand for fish and fish products. Asia Pacific aquaculture vaccines market expected to grow at a noteworthy rate due to their emerging economies, increasing population size, and growing demand for fish. Latin America aquaculture vaccines market projected to exhibit substantial growth due to launch of newer products into the Brazil, Chile, Mexico, and other Latin America countries.
Launch of newer treatment therapies, and strategic alliances are the key strategies adopted by market players
Global aquaculture vaccines market further reveals that the key player’s increasingly adopting strategies such as product approvals, collaborations, product launches and long term alliance to improve market revenue share and gaining significant geographic presence across the region.
- For example, in 2018, Phibro Animal Health Corporation acquired KoVax Ltd which is Israel based manufacturer of vaccines. This purchase has extended the portfolio of Phibro in the aquaculture vaccines market.
- Additionally, in March 2018, Hipra launched Icthiovac VR/PD injectable vaccine, for the treatment of vibriosis and pasteurellosis in seabass.
- Additionally, in March 2019, MSD Animal Health has announced that it will acquire Scan Aqua AS. The acquisition will include a product which is sedative for use during treatment, pumping, transportation and handling of salmon and rainbow trout and an anesthetic mainly used during vaccination and handling events such as lice counting.
Key player’s profiles in the report 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), Phibro Animal Health Corp (USA), Nisseiken Co. Ltd. (Japan), Virbac S.A. (France), Elanco (USA), and Kyoritsuseiyaku Corporation (Japan).
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Precision Business Insights (PBI) in its report titled “Global Aquaculture Vaccines Market: Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2014-2018 and Forecast 2019-2025” assesses the market performance over seven years forecast period over 2019-2025. The report analyses the market value forecast and provides the strategic insights into the market driving factors, challenges that are hindering the market revenue growth over forecast period.
By Vaccine Type
- Inactivated Vaccine
- Attenuated Live Vaccine
- DNA Vaccine
- Bacterial Infection
- Viral Infection
- Combined Bacterial and Viral Infections
By Route of Administration
- Immersion Vaccines
- Injection Vaccines
- Oral Vaccines
- Seabass and Seabream
- Rest of Europe
- Australia & New Zealand
- ASEAN (Includes Indonesia, Thailand, Vietnam, Philippines, Malaysia, and Others)
- South Korea
- Rest of Asia-Pacific
- Rest of Latin America
Middle East and Africa (MEA)
- Gulf Cooperation Council (GCC) Countries
- South Africa
- Rest of MEA
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