The global aquaculture vaccines market is currently valued at US$ 406 million and is projected to expand significantly, reaching US$ 913.6 million by 2033, with a Compound Annual Growth Rate (CAGR) of 8.5% between 2023 and 2033. This surge is attributed to the increasing demand for aquaculture products worldwide.
Aquaculture, the farming of aquatic organisms such as fish, shellfish, and plants, has witnessed a remarkable rise in recent years. Factors such as growing consumer preference for canned fish products, seafood, and various aquaculture-related activities are driving this growth. Seafood, known for its nutritional benefits, plays a vital role in promoting human health, further fueling the demand for aquaculture products.
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Live vaccines, a significant segment within the aquaculture vaccines market, consist of live viruses and bacteria with lower severity in fish species. These vaccines stimulate both cell-mediated and humoral antibodies, as well as mucosal immunity, thereby enhancing the overall immunity of fish populations. Ongoing research aims to optimize live vaccine formulations to provide benefits such as ease of culturing, cost-effective production, and clear genetic composition.
“We’re witnessing a substantial rise in the demand for aquaculture vaccines due to the exponential growth of the aquaculture industry,” said FMI. “Our ongoing research and development efforts are geared towards developing innovative vaccine solutions that address the evolving needs of aquaculture producers worldwide.”
With the global aquaculture vaccines market poised for significant growth, stakeholders across the industry are leveraging innovative strategies to capitalize on emerging opportunities. Continued investment in research and development, alongside strategic collaborations, will be crucial in driving advancements in aquaculture vaccine technologies and meeting the escalating demand for sustainable aquaculture practices.
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).
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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.
What does the Report span?
- The research study is based on product type (attenuated live vaccines, inactivated vaccines, subunit vaccines, DNA vaccines, and recombinant vaccines), by route of administration (oral, injected, and immersion & spray), and by type (viral, bacterial, and parasitic).
- With rising demand for aquatic animal-derived food products, the global aquaculture vaccines market is bound to grow graciously in the near future.
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.
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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)
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