October 12, 2021
As cited by the research report titled ‘Global Aquaculture Vaccines Market Size study, by Vaccine Type (Live, Inactivated, Subunit, DNA), by route of administration (Oral, Immersion, Injected), By application type (Viral Infection, Bacterial Infection, Others), by species type (Tilapia, Trout, Salmon, Others )and Regional Forecasts 2021-2027’, available with MarketStudyReport, global aquaculture vaccines market is projected to grow with a strong CAGR to accumulate significant returns over 2021-2027.
Expanding aquaculture sector, increasing availability of vaccinations, and continuing research & development activities to cure virus and bacteria-related diseases are the major factors driving global aquaculture vaccines market growth.
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In addition, increasing product development and innovation, coupled with growing consumption of sea food are likely to augment market development over the projected timeline.
According to a report provided by the Food and Agriculture Organization, around 580 aquatic species are farmed across the world, and it is one of the fastest growing food production sectors. The report also mentions that over 50% of the fish in the world are consumed as food.
For the record, aquaculture vaccines include an arthrobacter vaccine which is used against bacterial kidney disease for use in salmonids, and an Ictaluri vaccine which is effective against enteric septicemia of catfish (ESC) for aquatic animals.
On the downside, stringent government regulations are likely to hinder market progression over the estimated timeline.
Based on vaccine type, global aquaculture vaccines industry is segmented into inactivated, live, subunit, and DNA. Considering route of administration, the marketplace is categorized into oral, injected, and immersion. Speaking of application ambit, the business space is divided into bacterial infection, viral infection, and others. Moving on to species type, the industry space is classified into tilapia, salmon, trout, and others.
The geographical analysis of global aquaculture vaccines industry involves regions like North America, Asia Pacific, Europe, and Latin America. Experts cite that Asia Pacific currently captures a substantial industry share and is likely to garner significant returns during the study period. This can be credited to the expanding aquaculture sector, rising need for healthcare management of aquatic animals, and increasing developments in vaccination.
Prominent players influencing global aquaculture vaccines industry trends are Ictyogroup, Elanco Animal Health Inc., KoVax Ltd., Nisseiken Co. Ltd., Virbac SA, Merck & Co. Inc., Tecnovax SA, Hipra SA, Veterquimica S.A., and Zoetis Inc.