Global Aquaculture Vaccines Market Size is Estimated to Reach USD 791.42 million by 2031, Growing at a CAGR of 8.2%: Straits Research

Global aquaculture vaccines market shows promising growth across regions. Europe leads with a 7.1% CAGR, driven by government initiatives and collaborative projects like ‘TargetFish.’ North America anticipates a 7.4% growth, supported by regulatory frameworks like the USDA’s National Aquatic Animal Health Plan. Asia-Pacific experiences exponential expansion fueled by growing demand and R&D projects. Latin America witnesses market growth with initiatives like MSD Animal Health’s vaccine launch against streptococcus. The Middle East emerges with burgeoning aquaculture projects, driving demand for environmentally friendly solutions.

New York, United States, Feb. 06, 2024 (GLOBE NEWSWIRE) — Antibiotics have been criticized due to antibiotic residues, bacterial drug resistance, and toxicity. Vaccination is now the most effective method for combating bacterial and viral illnesses in sustainable aquaculture. Vaccination is a rapid, effective, and preventative method for preventing disease in fish. Vaccination produces a protective immunological response in an animal. In vaccinations, non-pathogenic antigens from pathogenic organisms boost the animal’s immune system and increase its resistance to disease when pathogens are encountered naturally.

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Growing Demand for Aquatic Animal-Derived Food Products Drives the Global Market

According to Straits Research, “The global aquaculture vaccines market share was valued at USD 389.12 million in 2022. It is estimated to reach USD 791.42 million by 2031, growing at a CAGR of 8.2% during the forecast period (2023–2031).” Farmers are urged to use aquaculture vaccinations to capitalize on the increased demand for food products derived from aquatic creatures, including oil, caviar, protein powders, and meat. As urbanization increases, consumers are becoming more aware of the nutritional benefits of animal protein. Breeding aquatic animals today necessitates greater care, which is anticipated to raise demand for aquaculture vaccines and develop the market. Furthermore, consumers are increasingly aware of the significance of micronutrients, the natural sources of which are proteins derived from fish. Vitamin D is included in these micronutrients. Vitamin B12, another micronutrient, is the only natural source of animal proteins such as tuna. Hence, the market for aquaculture vaccines is expanding due to the increasing demand for these micronutrients and the consequent increase in demand for fish meat. The increasing value of aquatic animal-derived food products is anticipated to enhance the demand for aquaculture vaccinations to produce healthy fish flesh.

Development of Novel Vaccines Creates Tremendous Opportunities

A variety of fish genomes are currently accessible. In addition, as the cost of technology such as whole genome sequencing decreases, the genomes of individual pathogens are reported regularly, enabling the design of targeted vaccines for diverse species. These variables offer market participants lucrative chances to invest in developing new vaccines against bacterial, viral, or parasitic infectious diseases for which no vaccines are currently available. Also, producing effective mucosal vaccines and optimizing their delivery is anticipated to accelerate the development of innovative vaccines and enable aquaculture enterprises in low- and middle-income nations to routinely use vaccination in the future. Further, the effective use of emergency (autogenous) vaccines is anticipated to assist in addressing emergent disease concerns and generate enormous growth potential for market participants.

Regional Analysis

European aquaculture vaccines industry share is anticipated to grow at a CAGR of 7.1% during the forecast period. The European market is expected to increase significantly over the projected period. Government and business sector activities increased human concern over antibiotic resistance, and the presence of significant players is driving this expansion. Under the 7th Framework Plan, the European Commission supported a large-scale collaborative project to support the aquaculture industry. The “TargetFish” initiative brought together specialists on the fish immune system and market participants from the Biotech and Veterinary industries to contribute to the region’s research and technological development of the aquaculture industry. The aquaculture business in Europe is healthy and expanding, presenting opportunities for those willing to capitalize on them.

North America is anticipated to grow at a CAGR of 7.4% over the forecast period. The market for aquaculture vaccines in North America represented a considerable share of the global market. This can be ascribed to the demand for safe and sustainable aquaculture production, industry developments, and supporting government measures. In the United States, veterinary biologics for aquaculture are regulated by the Department of Agriculture (USDA) in collaboration with other national and local regulatory agencies. Through the National Aquatic Animal Health Plan (NAAHP), the USDA directs the safe and efficient commercialization of aquatic animals on a national and international scale. Additional NAAHP objectives include the prevention, control, and management of infections and diseases and the identification of R&D priorities in aquatic animal health.

Key Highlights

  • Based on the vaccine type, the global aquaculture vaccines market is divided into live attenuated vaccines, inactivated vaccines, subunit vaccines, DNA vaccines, and recombinant vaccines. The inactivated vaccines segment is responsible for the largest market share and is anticipated to grow at a CAGR of 8.0% over the forecast period.
  • Based on the route of administration, the global aquaculture vaccines market is bifurcated into oral, injected, and immersion and spray. The injected segment owns the highest market share and is projected to grow at a CAGR of 7.7% over the forecast period.
  • Based on application, the global aquaculture vaccines market is segmented into bacterial, viral, and parasitic. The bacterial segment is the highest contributor to the market and is estimated to grow at a CAGR of 7.8% during the forecast period.
  • Europe is the most significant shareholder in the global aquaculture vaccines market and is anticipated to grow at a CAGR of 7.1% during the forecast period.

Competitive Players

The key players in the global aquaculture vaccines market are Zoetis, Merck & Co., Inc., Phibro Animal Health Corporation, Elanco, KBNP, CAVAC, Nisseiken Co., Ltd., Kyoto Biken Laboratories, Inc., Vaxxinova International BV, and HIPRA.

Market News

  • In September 2022, Zoetis Inc. stated that it had completed the acquisition of Jurox, a privately held animal health firm that develops, manufactures, and markets a broad array of veterinarian pharmaceuticals for treating livestock and companion animals.
  • In June 2022, Cal Poly Venture announced its participation in Mazen Animal Health Inc.’s USD 12 million Series A funding round. Mazen Animal Health focuses on creating, distributing, and commercializing innovative biological vaccines and medicines.

Global Aquaculture Vaccines Market: Segmentation

By Vaccine Type

  • Live Attenuated Vaccines
  • Inactivated Vaccines
  • Subunit Vaccines
  • DNA Vaccines
  • Recombinant Vaccines

By Route of Administration

  • Oral
  • Injected
  • Immersion and Spray

By Applications

  • Bacterial
  • Viral
  • Parasitic

By Regions

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • The Middle East and Africa

Get Detailed Market Segmentation @ https://straitsresearch.com/report/aquaculture-vaccines-market/segmentation

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