Global aquaculture vaccines market is likely to exhibit a promising growth curve as far as the short-term outlook is considered. The report will uncover the insights into how the market growth will unfold in the next few years.
Growing Fish Mortality Rates Due to Bacterial and Viral Infections Will Push Aquaculture Vaccines Market Growth
The worldwide aquaculture production is consistently swelling. In the wake of the subsequent rise in prevalence of several viral and bacterial infections among aquaculture species, and a visible rise in fish mortality, a growing number of farmers have been developing interest in reliable, effective vaccines. Global aquaculture vaccines market also receives strong tailwinds from the growth in R&D funding. Constantly rising demand for aquatic animal-derived food products is another key factor favoring the growth of market. The trend wave from live attenuated vaccines to DNA vaccines, and more recently the recombinant vaccines will further signify a strong growth outlook of the market in long run.
Mounting Preference for Healthy Fish Consumption to Bode Well for Aquaculture Vaccines Market
While using antibiotics renders decent antibiotic resistance, it also causes a potential loss of the overall aquaculture output at measurable economic loss. Contrastingly, vaccinating farmed fish can present an entire set of advantages in form of superior abilities to combat bacterial and viral infection – without medication side effects. This has been driving demand for aquaculture vaccines over antibiotics. With ascending consumer demand for the healthy fish and seafood products, and escalating sales of animal protein lineups, aquaculture immunization programs are expected garner momentum. Moreover, growth in international aquaculture trading activity is likely to strengthen the expansion of aquaculture vaccines market.
Oral Vaccines to Experience Excellent Demand Surge, Viral Application Prominent in Aquaculture Vaccines Market
The inactivated vaccines segment currently leads with more than 29% value share. On the other side, the segment of recombinant vaccines is poised for a promising growth outlook in upcoming years as these vaccines tend to promote a strong immune response in vaccinated fish. The commercialization of recombinant vaccines is also viable when compared with production dynamics of other vaccine categories, which further upholds the attractiveness of the segment in aquaculture vaccines market.
Injected vaccines capture a sizeable revenue share in as they continue to witness remarkable adoption typically for protection against conditions like furunculosis, vibriosis, winter sore, IPN, Infectious Salmon Anemia, and cold-water vibriosis. On the other hand, given the clear advantages of oral immunization, oral vaccines are also expected to experience thriving preference over the near term. With inclination toward non-invasive clinical and medical procedures, oral vaccines will naturally gain ground. Additionally, administration is convenient, and eliminates the need for fish handling, which further complements the growth of oral vaccines segment in aquaculture vaccines market.
The Aquatic Animal Health Research by The United States Department of Agriculture (USDA) identifies over 20 genera of bacterial species to be inflecting more than 20 marine and freshwater fish species and being the key causative agents behind multiple aquatic diseases. As diseased conditions tend to drive aquaculture industry into substantial losses in terms of both finances and labor, the bacterial infections segment continues to lead aquaculture vaccines market. The viral infections segment however will most likely expand at a notable pace during the years of forecast. On the other hand, based on fish species, the Atlantic salmon, Atlantic cod, and rainbow trout are among the most prominently farmed fish via aquaculture. These fish categories are among the most routinely vaccinated ones, reports the Responsible Use of Medicines in Agriculture Alliance (RUMA).
Aquaculture Vaccines Market Witnesses Preeminence of Europe, Role of Governments Crucial
Europe currently represents the largest market for aquaculture vaccines and the role of European governments has been vital in the market build-up here. The private sector has also been supportive toward market expansion as in form of multiple favorable initiatives. The region houses some of the global industry leaders, which further bolsters the aquaculture vaccines market in Europe. Besides Norway, the UK, Russia, and Greece remain the key exporting markets across European continent, keeping the aquaculture farming business afloat.
Preliminary research projects Asia Pacific as a high-potential aquaculture vaccines market as the region houses a flourishing aquaculture farming industry and exhibits surge in demand for vaccines on the back of favorable government initiatives. Asia Pacific’s tilapia production in the world’s one of the highest. The Asian subcontinent also has wide availability of suitable water resources and has been showcasing growing affliction for sustainable aquaculture over the recent past. The overall scenario creates a strong breeding ground for market. On the other hand, the market anticipates notable growth prospects in Latin America as the key countries, i.e., Mexico, Brazil, and Chile continue to witness new vaccine launches.
Competition Analysis – Global Aquaculture Vaccines Market
Some of the prominent players steering the global aquaculture vaccines market include Merck & Co., Inc., Elanco, Zoetis, Phibro Animal Health Corporation, Kyoto Biken Laboratories, Inc., KBNP, Nisseiken Co., Ltd., CAVAC, HIPRA, and Vaxxinova International BV. The report would track recent industry developments, and detailed competition analysis. Major vendors place emphasis on new launches, regional expansion, strategic acquisitions, and collaborations. Entry of start-ups has been adding to the competitiveness of the market space, says the report.
Recent Notable Developments
Regional Classification of Global Aquaculture Vaccines Market Can be Given as Below:
Middle East and Africa
*Regions and countries are subject to change based on data availability.
Key Elements Included In The Study: Global Aquaculture Vaccines Market
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