$ 605.4 Million Aquaculture Vaccine Market Size by 2028: Grand View Research, Inc.
SAN FRANCISCO, September 29, 2021 / PRNewswire / – The World aquaculture vaccine market size is expected to reach $ 605.4 million by 2028, according to a new report from Grand View Research, Inc. It is expected increase at a CAGR of 8.4% from 2021 to 2028. The advent of vaccines for fish has dramatically reduced reliance on antimicrobial agents. Vaccination programs help protect animal health and the livelihoods of those who work with livestock as well as ensure food security. The development of certain aquaculture sectors, such as the salmon industry in Norway, where the country’s fish farmers switched from using antibiotics to vaccines in 1994, demonstrates the potential of vaccines to reduce dependence on veterinary drugs.
Main lessons and findings:
- Based on product, inactivated vaccine segment held the largest share in 2020 due to its strong acceptance globally
- By administration route, the injected segment held the largest market share in 2020 due to its easy availability
- Bacterial applications segment held the largest share of revenue in 2020 due to the high prevalence of bacterial diseases in aquatic species
- In 2020, Europe held the largest share of revenue due to the increasing adoption of aquaculture vaccines, especially in countries such as Norway and the United Kingdom
- North America held the second largest revenue share in 2020. The main driver of this regional market is the presence of major market players, particularly in the United States
- Asia Pacific is expected to experience lucrative growth during the forecast period due to increased aquaculture production and supportive government initiatives, especially in developing countries
Read the 163-page market research report, “Aquaculture Vaccines Market Size, Share and Trend Analysis Report by Product (Inactivated Vaccines, DNA Vaccines), By Administration Route (Injected, Oral), By Application (Bacterial, Viral ) and segment forecast, 2021-2028“, by Grand View Research
Like other markets, the aquaculture vaccine market has also been significantly affected. Some of the major impacts of COVID-19 in the market include supply chain disruptions, declining sales, weak demand, growing awareness of the risks of animal-to-human disease transmission, and operational barriers due to changing policies and restrictions.
The growing demand for food products derived from aquatic animals, such as oil, caviar, protein powders and meat, encourages farmers to use vaccinations for aquaculture to increase their profitability. Due to increasing urbanization, consumers are increasingly aware of the nutritional value of animal proteins. The demand for healthy, durable, high-quality meat products that contain less or no drugs is also increasing rapidly. Thus, the need for healthy breeding of aquatic animals is increasing, which is expected to fuel the demand for vaccines for aquaculture, thus driving the growth of the market.
The aquaculture vaccine market is quite competitive. The most notable participants in the market are Zoetis; Merck & Co., Inc .; and Elanco, as well as other manufacturers of aquaculture vaccines. These players are involved in new product launches, acquisitions and partnerships to gain a competitive advantage over each other. For example, in july 2020, Zoetis acquired Fish Vet Group from Benchmark Holdings, PLC. This added to the company’s Pharmaq business, which is involved in vaccines and services for fish.
Grand View Research has segmented the Global Aquaculture Vaccines Market report on the basis of product, route of administration, application, and region:
- Aquaculture Vaccine Product Outlook (Revenue, USD Million, 2016 – 2028)
- Live attenuated vaccines
- Inactivated vaccines
- Subunit vaccines
- DNA vaccines
- Recombinant vaccines
- Aquaculture Vaccine Administration Route Outlook (Revenue, USD Million, 2016 – 2028)
- Immersion & Spraying
- Aquaculture Vaccine Application Outlook (Revenue, USD Million, 2016 – 2028)
- Regional Outlook for Vaccines for Aquaculture (Revenue, USD Million, 2016 – 2028)
- North America
- Eastern Europe
- Czech Republic
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- South Africa
- Saudi Arabia
List of key players in the Aquaculture Vaccines Market
- Phibro Animal Health Society
- Merck & Co., Inc.
- Kyoto Biken Laboratories, Inc.
- Nisseiken Co., Ltd.
- Vaxxinova International BV
Check out other animal vaccine related studies conducted by Grand View Research:
- Animal Vaccines Market – The size of the global animal vaccines market has been estimated to be $ 9.2 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 7.4% from 2021 to 2028. The perpetual introduction of technologically advanced vaccines and the epidemic of livestock diseases have contributed to the changing dynamics of the market.
- Poultry Vaccines Market – The global poultry vaccines market size has been estimated to be $ 2.0 billion in 2018 and is expected to post a CAGR of 6.2% during the forecast period. The increase in vaccination to curb outbreaks of avian diseases and the increasing demand for poultry related food products are mainly driving the market.
- Foot-and-Mouth Disease Vaccines Market – The global foot-and-mouth disease (FM) vaccine market size has been estimated to be $ 1.5 billion in 2016 and is expected to grow at a CAGR of 8.1% during the forecast period. Herd growth and increasing demand for animal products are some of the factors contributing to the increased adoption of these vaccines around the world.
Browse Grand View Research’s coverage on Global Animal Health Industry
Go to Grand View Compass, our intuitive BI market research database of over 10,000 reports
About Grand View Research
Grand View Research, a United States-based market research and consulting company, provides syndicated and personalized research reports and consulting services. Checked in California and headquartered at San Francisco, the company has more than 425 analysts and consultants, adding more than 1,200 market research reports to its extensive database each year. These reports provide in-depth analysis of 46 industries in 25 major countries around the world. Using an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and assess upcoming opportunities.
Corporate Sales Specialist, United States
Grand View Research, Inc.
Toll free: 1-888-202-9519
E-mail: [email protected]
Follow us: LinkedIn | Twitter
SOURCE Grand View Research, Inc.