The global aquaculture vaccines market is on the brink of significant expansion, with current valuations standing at USD 406 million. The market is projected to experience remarkable growth, reaching USD 913.6 million by 2033, reflecting a robust Compound Annual Growth Rate (CAGR) of 8.5% from 2023 to 2033. This impressive growth trajectory highlights the increasing momentum within the aquaculture sector.
Aquaculture, which encompasses the farming of aquatic organisms such as fish, shellfish, and plants, has seen substantial advancements in recent years. This growth is driven by a rising consumer preference for seafood products, including canned fish and other aquaculture-related items. The surge in demand is largely attributed to the recognized nutritional benefits of seafood, which plays a crucial role in promoting human health.
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“The exponential growth of the global aquaculture vaccines market signifies a paradigm shift in the industry landscape,” remarked FMI. “As consumers increasingly prioritize healthy and sustainable food options, the aquaculture sector emerges as a critical contributor to meeting these demands. The adoption of vaccines in aquaculture underscores a commitment to ensuring the well-being of aquatic organisms while maintaining environmental sustainability.”
Key Takeaways from Aquaculture Vaccines Market:
- Europe holds more than 20% of the market share. This could be attributed to Norway being the largest exporter of salmon along with growing concerns regarding antimicrobial activities. The Norwegian Medicines Agency does make provision of specific guidelines and regulations related to the applications of autogenous vaccines. The European Commission has funded a huge-scale collaborative project under 7th Framework Programme for extending support to aquaculture industry.
- North America holds a significant market share with the US witnessing a rising demand for safe and clean fish and other marine foodstuff.
- The Asia-Pacific is expected to witness a sizable growth in aquaculture vaccines market going forward due to booming aquaculture vertical, thereby resulting in increase in production of various aquatic species like tilapia (especially in Japan).
Competitive Vaccines:
- Virbac, in September 2020, did announce acquiring a series of tilapia vaccines from Ictyogroup (an animal health company specializing in research pertaining to biology). These two companies also inked a partnership agreement for Aqua Virbac division developing novel formulations and vaccines.
- Barramundi Asia, in January 2020, did announce merging with Allergo Aqua with the objective of bringing fingerling research in-house. The method has thus helped in maintenance of long-term relationships.
- Merck, in August 2020, completed acquisition of IdentiGEN to extend its line-up of livestock and aquaculture products.
- Elanco, in December 2020, did move its headquarters to Indiana to complement its IPP (Innovation, Portfolio & Productivity) strategy and also establish a center of excellence for consolidation of future footprint.
- CIBA, in April 2021, did launch Nodavac-R, which comes across as an injectable recombinant viral nervous necrosis (VNN) vaccine to avert vertical transmission in the brooders.
- MSD Animal Health, in November 2019, did launch AQUAVAC Strep Sa-Si injectable and dip immersion vaccine against Streptococcis in the tilapia fish in LATAM.
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Key Companies Profiled:
- GlaxoSmithKline plc
- Merck & Co., Inc
- Pfizer, Inc.
- Sanofi SA
- CSL Limited
- Emergent BioSolutions, Inc.
- Johnson & Johnson
- AstraZeneca plc
- Serum Institute of India Pvt. Ltd.
- Bavarian Nordic A/S
- Mitsubishi Tanabe Pharma Corporation
- Daiichi Sankyo Company, Limited
- Panacea Biotec, Ltd.
- Biological E Limited
- Bharat Biotech Ltd.
- Novavax, Inc.
Market Segments Covered in Aquaculture Vaccines Industry Analysis:
Product Type Outlook:
- Attenuated Live Vaccines
- Inactivated Vaccines
- Subunit Vaccines
- DNA Vaccines
- Recombinant Vaccines
Route of Administration:
- Oral
- Injected
- Immersion & Spray
Regional Outlook:
- Bacterial
- Viral
- Parasitic
Regional:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa (MEA)
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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