February 14, 2020
According to the research report titled ‘Aquaculture Vaccines Market Size By Type of Vaccines (Inactivated Vaccines, Live Vaccines), By Route of Administration (Immersion Vaccines, Injection Vaccines), By Application (Bacterial Infection, Viral Infection), By Species (Salmon, Trout, Tilapia), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, Norway, Ireland, Turkey, Denmark, China, Indonesia, Philippines, Thailand, Australia, New Zealand, Brazil, Mexico,, Chile, Iran, Egypt), Application Potential, Competitive Market Share & Forecast, 2019 – 2025’ available at MarketStudyReport.com, the global aquaculture vaccines market is expected to cross USD 290 million by the year 2025.
According to the report, surging investments by public and private entities in R&D activities for the development of innovative and complex vaccines is the major factor driving the aquaculture vaccines market growth. Vaccines offer better protection without any side effects as compared to antibiotics and thus, there has been an upsurge in using vaccines instead of antibiotics to prevent viral and bacterial infections. This factor coupled with increased pervasiveness of bacterial and viral infections are further aiding the market expansion.
As per vaccine type, the report states that inactivated vaccine segment was worth USD 158.2 million in the year 2018. This type of vaccine offers strong and quick immune response and hence, development of innovative and advanced inactivated vaccines for treating multiple and complex viral and bacterial infections is fueling the segmental growth.
By route of administration, immersion vaccines segment is expected to grow with a CAGR of 6.7% during the period of 2019-2025. Factors such as ease of vaccine administration and high efficacy of immersion vaccines are stimulating the industry outlook.
Based on the application spectrum, the report cites that the viral disease applications of aquaculture vaccines market held 15.8% share in the year 2018. Rising prevalence of viral infections such as IPN (infectious pancreatic necrosis) and ISA (infectious salmon anemia) are propelling the growth of the market.
In terms of species, aquaculture vaccines market from tilapia segment is presumed to be worth USD 45.5 million by the year 2025. Increasing production of tilapia owing easy culture techniques and short production period are boosting the growth of the segment.
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As per regional analysis, the report states that UK aquaculture vaccines industry held a considerable share in the year 2018 and is expected to be worth USD 29.2 million by the year 2025. Increasing development of novel vaccines in order to meet the surging need for protection of several fish species is augmenting the regional demand for the product. Additionally, favorable government regulations along with rising adoption of vaccines instead of antibiotics is favoring the market outlook.
On the other hand, aquaculture vaccines market in China is presumed to expand with a CAGR of 7.3% during 2019-2025. The growth is attributed to rising production of tilapia coupled with growing concern regarding the protection of fish from numerous viral and bacterial diseases is fostering the product demand across China.
The prominent companies operating in the aquaculture vaccines market are Nisseiken Co. Ltd., Veterquimica S.A., Virbac, Tecnovax, Merck & Co. Inc., Zoetis, Inc., and Hipra.
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