Global demand for aquaculture vaccines market was valued at approximately USD 200.1 million in 2018 and is expected to generate revenue of around USD 302.8 million by end of 2025, growing at a CAGR of around 6.1% between 2019 and 2025.
Aquaculture Vaccines Market
The report covers forecast and analysis for the aquaculture vaccines market on a global and regional level. The study provides historic data from 2015 to 2018 along with a forecast from 2019 to 2025 based on revenue (USD Million). The study includes drivers and restraints for the aquaculture vaccines market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities and various trends in the aquaculture vaccines market on a global level.
As per the report, the global demand for aquaculture vaccines market was valued at approximately USD 200.1 million in 2018 and is expected to generate revenue of around USD 302.8 million by the end of 2025, growing at a CAGR of around 6.1% between 2019 and 2025.
Aquaculture vaccines are the type of vaccines which are used to treat the diseases of fishes. Increase in adoption of the vaccines by the aquaculture farmers for increasing their income is one of the major factors which is fueling the growth of the aquaculture vaccines market. Various regulations introduced by the government in developed countries for use of antibiotic in aquaculture and introduction of new products is also driving the growth of the aquaculture vaccines market. Also, increase in aquaculture farming in developing countries such as India is also driving the growth of the aquaculture vaccines market.
Based on type of vaccines, the market for aquaculture vaccine is segmented into live vaccines, inactivated vaccines, and other vaccines. Inactivated vaccines dominated the type of vaccines segment. Their ability to produce strong responses by retaining back the genomic component which is inactivated and its long-lasting immune response is fueling the growth of the inactivated vaccine segment.
On the basis of route of administration, aquaculture vaccines market is segmented into injection vaccines, immersions vaccines, and oral vaccines. Injection vaccines held the largest share in route of administration segment. Injection vaccines have the ability to treat various viral & bacterial infections, which in turn drives the growth of the injection vaccines segment. Immersion vaccines are anticipated to show the highest growth rate in the forecast period.
Based on application, the market for aquaculture vaccine is segmented into viral infection, bacterial infection, and others. Bacterial infections are anticipated to dominate the application segment owing to the increase in incidences of various bacterial infections such as pseudomonasis, streptococcosis, vibriosis, and others. Bacterial infections also cause heavy economic losses in aquaculture market, this also fuels the growth of the vaccines for bacterial infections.
On the basis of species, aquaculture vaccines market is fragmented into tilapia, trout, salmon, and others. Salmon species is projected to dominate the species segment of aquaculture vaccines market. Growing demand for salmon and its products because of its capabilities against bacterial and viral infections is expected to augment the demand for salmon.
Europe held the largest market share in global aquaculture vaccines market in 2018. Europe region is projected to lead the market over the forecast period owing to the rise in awareness about the benefits of aquaculture vaccines, increase in aquaculture farming, launch of new vaccines, and presence of major market players. Asia Pacific is expected to show a higher growth rate as compared to other regions. The rapid prevalence of diseases among the fishes, awareness about aquaculture techniques, technological advancement in aquaculture farming, and increase in disposable income is driving the growth of the Asia Pacific market for aquaculture vaccines.
Some of the key players in aquaculture vaccines market include Zoetis Inc., Veterquimica S.A., Hipra, Tecnovax, Merck & Co., Inc., Virbac, and Nisseiken Co. Ltd.
Global Aquaculture Vaccines Market: Type of Vaccines Segment Analysis
Global Aquaculture Vaccines Market: Route of Administration Segment Analysis
Global Aquaculture Vaccines Market: Application Segment Analysis
Global Aquaculture Vaccines Market: Species Segment Analysis
Global Aquaculture Vaccines Market: Regional Segment Analysis