The global aquaculture vaccines market size was evaluated at USD 470 million by 2023 and is projected to gain around USD 1,063.64 million by 2033 with a CAGR of 8.51% between 2024 and 2033.
Key Points
- Europe dominated the market with the largest revenue share of 42% in 2023.
- Asia Pacific is expected to grow at the highest CAGR in the market during the forecast period.
- The inactivated vaccines segment has held a major revenue share of 75% in 2023.
- The injection vaccines segment has contributed more than 61% of revenue share in 2023.
- The immersion vaccines segment is expected to grow at the highest CAGR during the forecast period.
- The bacterial infection segment dominated the aquaculture vaccines market in 2023.
- The viral infection segment is expected to grow at the highest CAGR during the forecast period.
- The tilapia segment dominated the market in 2023.
- The salmon segment is expected to grow at the highest CAGR in the market during the forecast period.
Market Overview
The Aquaculture Vaccines Market encompasses the development, production, and distribution of vaccines specifically designed for fish and other aquatic organisms. These vaccines are crucial in preventing infectious diseases that can significantly impact aquaculture operations. With the growing demand for seafood and the expansion of aquaculture industries worldwide, the market for aquaculture vaccines is becoming increasingly significant. The use of vaccines in aquaculture helps to reduce the reliance on antibiotics, promoting healthier and more sustainable aquaculture practices.
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Growth Factors
Several factors are contributing to the growth of the aquaculture vaccines market. First and foremost, the increasing global demand for seafood is driving the expansion of aquaculture industries, necessitating more effective disease management strategies. Additionally, advancements in vaccine technology, including the development of more efficient and targeted vaccines, are enhancing the effectiveness of disease prevention in aquaculture. There is also a growing awareness of the negative impacts of antibiotic use in aquaculture, leading to a shift towards vaccine-based disease control methods. Furthermore, supportive government policies and regulations aimed at promoting sustainable aquaculture practices are encouraging the adoption of vaccines.
Aquaculture Vaccines Market Scope
| Report Coverage | Details |
| Aquaculture Vaccines Market Size in 2023 | USD 470 Million |
| Aquaculture Vaccines Market Size in 2024 | USD 510 Million |
| Aquaculture Vaccines Market Size by 2033 | USD 1,063.64 Million |
| Aquaculture Vaccines Market Growth Rate | CAGR of 8.51% from 2024 to 2033 |
| Largest Market | Europe |
| Base Year | 2023 |
| Forecast Period | 2024 to 2033 |
| Segments Covered | Type of Vaccines, Route of Administration, Application, Species and Region |
| Regions Covered | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Market Dynamics
Drivers
Key drivers of the aquaculture vaccines market include the increasing incidences of infectious diseases in aquaculture, which pose significant risks to production and profitability. The rising consumer demand for safe and high-quality seafood products is also pushing aquaculture producers to adopt better disease control measures. Innovations in biotechnology and vaccine development are providing more effective solutions for disease prevention. Moreover, stringent regulations and guidelines set by governmental and environmental bodies are encouraging the use of vaccines over antibiotics, further driving market growth.
Opportunities
There are several opportunities in the aquaculture vaccines market. The ongoing research and development activities aimed at creating new and improved vaccines present significant potential for market expansion. The growing trend towards sustainable aquaculture practices opens up opportunities for vaccine manufacturers to offer eco-friendly solutions. Additionally, the increasing adoption of integrated health management practices in aquaculture farms, which include vaccination as a key component, provides a promising growth avenue. Expanding into emerging markets with developing aquaculture industries also offers substantial opportunities for growth.
Challenges
Despite the positive growth prospects, the aquaculture vaccines market faces several challenges. The high cost of vaccine development and the need for extensive testing and regulatory approvals can be a significant barrier. There is also the challenge of developing vaccines that are effective against a wide range of pathogens, given the diversity of species in aquaculture. Furthermore, ensuring proper storage, handling, and administration of vaccines in often remote and underdeveloped aquaculture farms can be difficult. Additionally, the variability in regulatory standards across different regions can complicate market entry and expansion for vaccine manufacturers.
Region Insights
The aquaculture vaccines market is experiencing varied growth across different regions. In North America and Europe, the market is well-established, with a high level of awareness and adoption of advanced aquaculture practices. These regions benefit from strong regulatory frameworks and significant investments in research and development. Asia-Pacific, particularly countries like China, India, and Vietnam, represents a rapidly growing market due to the extensive aquaculture activities and the increasing focus on improving productivity and disease management. Latin America and the Middle East are also emerging as potential markets, driven by the expansion of aquaculture industries and growing demand for seafood.
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Aquaculture Vaccines Market Companies
- Zoetis Inc.
- Phibro Animal Health Corporation
- Elanco
- Merck & Co., Inc.
- KBNP
- CAVAC
- Kyoto Biken Laboratories, Inc.
- Nisseiken Co., Ltd.
- Vaxxinova International BV
- HIPRA
- Tecnovax
- Virbac
- Veterquimica S.A
Aquaculture Vaccines Market Recent Developments
- In April 2024, The world’s foremost aquaculture company, BioVaxys Technology Corp. (“BioVaxys”), and SpayVac-for-Wildlife, Inc. (“SpayVac”) jointly announced that SpayVac has teamed up with them to field test long-lasting, single-injection immuno-contraceptive vaccinations in farmed rainbow trout. Using a proprietary liposome-based antigen delivery platform technology licensed from BioVaxys, SpayVac has shown that it elicits a strong and long-lasting immune response in many species.
- In April 2024, CIBA-Nodavac-R was introduced by Dr. JK Jena, the ICAR deputy director general for fisheries, in an effort to battle VNN, which affects a variety of freshwater, brackishwater, and marine fish and can kill up to 100% of larval and early juvenile fish. Nervous necrosis virus is the cause of the illness (NNV). In India and the majority of other tropical nations, the single genotype of the red-spotted grouper nervous necrosis virus (RGNNV) is widespread. Both vertical and horizontal transmission are possible for the illness. Adult carriers of the virus continue to spread it to offspring through eggs. Fish fingerlings and adults can be vaccinated as a viable means of controlling the illness and preventing vertical transmission.
Segment Covered in the Report
By Type of Vaccines
- Inactivated Vaccines
- Live Vaccines
- Others
By Route of Administration
- Immersion Vaccines
- Injection Vaccines
- Oral Vaccines
By Application
- Bacterial Infection
- Viral Infection
- Others
By Species
- Salmon
- Trout
- Tilapia
- Others
By Geography
- North America
- Asia Pacific
- Europe
- Latin America
- Middle East & Africa
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