According to Precision Business Insights, the Aquaculture Vaccines Market research report provides industry size and growth.
Aquaculture Vaccines Market size was valued at USD 482.6 million in 2022 and is expected to grow at a CAGR of 7.9% from 2023-2029. owing to increase in prevalence of various aquaculture diseases Precision Business Insights (PBI) in its report titled Global Aquaculture Vaccines Market Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2018-2022 and Forecast 2023-2029 assesses the market performance over eight years forecast period. 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. The global aquaculture vaccines market was valued at US$ 328.6 Mn in 2017 and growing at a significant CAGR over the forecast period owing to increase in the bacterial and viral infections among the aquaculture species. In addition, increase in aquaculture farming, growing in R&D activities for the development of innovative products, funding from government for the aquaculture development are anticipated to propel the global aquaculture vaccines market. However, stringent regulations for the vaccine approval, complexity in the storage of vaccines, lack awareness about aquaculture vaccines and diseases in underdeveloped countries are expected to hinder the growth of global aquaculture vaccines market over forecast years.
The global aquaculture vaccines market segmented on the basis of vaccine type, application, route of administration, species, and region
Based on vaccine type, global aquaculture vaccines market segmented into inactivated vaccines, attenuated live vaccines, DNA vaccines, and others. Inactivated vaccines market accounted for larger revenue share in 2017 and projected to dominate over the forecast period owing to product launchings by the market players. However, DNA vaccines segment projected exhibit lucrative growth, which is mainly attributed to adaption of newer technologies to develop the innovative vaccines to prevent genetic disorders among various aquaculture species.
Europe Leads the Global Aquaculture Vaccines market
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 accounted for larger revenue share through 2013-2017 and the trend is projected to follow over 2018-2025 owing to increase in the adoption of aquaculture vaccines in Norway, Russia, U.K, Greece, and other European countries owing to increase in the aquaculture farming in the region. Latin America market projected to exhibit significant growth owing launch of newer products into the Chile, Mexico, Brazil, and other Latin America countries, which is expected to enhance the market growth.
Global aquaculture vaccines market report further reveals that the key players increasingly adopting strategies such as launch of newer products and long term alliance to improve market revenue share and gaining significant geographic presence across the region. For instance. In January 2017, Pharmaq acquired fish vaccination company Nordland Sett Vaks to strengthen its fish vaccine portfolio. In addition, In May 2018, HIPRA launched its well-known ICTHIOVAC VR/PD vaccine, an injectable vaccine registered for sea bass against Vibriosis and Pasteurellosis in Turkish market Key player'™s profiles in the report are Pharmaq AS (Zoetis, LLC) (Norway), Merck Animal Health (Merck & Co., Inc.) (U.S.), KoVax Ltd. (Israel), Hipra (Spain), Tecnovax SA (Argentina), Veterquimica S.A. (Chile), and Nisseiken Co. Ltd. (Japan) among others
By Vaccine Type
By Route of Administration