by The global Fish Vaccine Market is estimated to be valued at US$ 265.4 Mn in 2023 and is expected to exhibit a CAGR of 6.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Fish vaccines are biological preparations used to provide protection against infectious diseases prevalent among fish and shellfish populations. They help protect aquatic animals from diseases without the need for antibiotics.
Market key trends:
Advancements in recombinant vaccine technology is one of the key trends driving the growth of the fish vaccine market. Recombinant technology assists in developing vaccines without the use of entire pathogen or the disease-causing agents. It focuses on purifying the protective antigens of pathogens and using them in vaccine preparation. This allows production of safe and more effective fish vaccines with no risk of reversion to virulence. Such advanced recombinant vaccines have high growth potential in the market.
Segment Analysis
The Fish Vaccine Market Size can be segmented based on product, species, route of administration and region. Based on product, the market is divided into live attenuated vaccines, inactivated vaccines, and DNA vaccines. The inactivated vaccines dominated the global market in 2022 owing to their effectiveness against a variety of viral and bacterial diseases in fish. Based on species, it is categorized into salmon, carp, trout, sea bass, tilapia, sea bream, and others. The salmon segment dominates the market due to high production and dependence on fish vaccines to prevent bacterial and viral infections common among salmon species. Based on route of administration, it is bifurcated into injection administration and immersion administration. Injection administration is the dominant segment due to higher efficacy of fish vaccines administered through injection.
Key Takeaways
The global fish vaccine market is expected to witness high growth, exhibiting a CAGR of 6.5% over the forecast period, due to increasing demand for fish as a healthy source of protein and the use of fish vaccines to control disease outbreaks in fish farming.
Regionally, Asia Pacific dominated the global fish vaccine market in 2022 and is expected to continue its dominance over the forecast period. This is attributed to rising aquaculture production in countries like China, Indonesia, India and Vietnam. Increasing adoption of advanced fish farming techniques and disease control measures are also propelling the market growth in the region.
The global fish vaccine market size was valued at US$ 265.4 Mn in 2023. The market is projected to reach US$ 410.2 Mn by 2030, expanding at a CAGR of 6.5% from 2023 to 2030. The market growth can be attributed to rising demand for fish and fish products and increasing adoption of prophylactic measures to control infectious diseases in fish farming.
Key players operating in the fish vaccine market are HIPRA, VETERQUIMICA SA, Ictyogroup, Kyoto Biken Laboratories, Inc., Vaxxinova International BV, Barramundi Group, Merck & Co., Inc., Zoetis Inc., KBNP, INC., Aqua Vet S.A., and NISSEIKEN CO., LTD. Players are engaging in new product launches, collaborations and geographical expansion to strengthen their position in the market.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
