Selbyville, Delaware, Jan. 12, 2022 (GLOBE NEWSWIRE) --
The aquaculture vaccines market size is anticipated to record a valuation of USD 265 million by 2027, according to the most recent study by Global Market Insights Inc. Growing adoption of vaccines over antibiotics for protection against various bacterial and viral infections will act as a high impact rendering factor for the market growth.
Vaccines provide superior protection without any negative outcomes of antibiotics such as resistance and disease recurrence. With the growing prevalence of viral and bacterial infections, the demand for aquaculture vaccines is estimated to grow in the coming years. Furthermore, increasing research and development activities to explore new methods for production of novel, advance and complex vaccines is anticipated to further boost the market expansion.
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The inactivated aquaculture vaccines market accounted for USD 163.1 million in 2020 and is expected to witness 4.4% growth rate through 2027. Various advantages associated with inactivated vaccines such as quick and strong immune response is poised to foster the segment growth. Also, launch of novel and advanced inactivated vaccines for treatment of complex and multiple bacterial and viral infections will further propel the industry growth over the coming years.
Immersion segment in the aquaculture vaccines market is predicted to attain a CAGR of 4.9% till 2027. Direct exposure of immune cells located in the fish's gills and skin to antigens will induce a strong and long-lasting immune response. Thus, growing usage of immersion vaccines in such condition owing to greater efficacy coupled with ease of vaccine administration will augment the segment expansion during the forecast timeframe.
Aquaculture vaccines intended for treatment of viral diseases held 15.8% of the market share in 2020 led by the rising prevalence of viral disease. For instance, as per the National Institute of Health (NIH), viral diseases are the second most prevalent disease challenge in fish farming, accounting for more than 23% of cases worldwide.
The tilapia species segment is projected to reach USD 41.7 million by 2027 owing to the growing demand and economic importance of tilapia in international market. For instance, as per the Food and Agriculture Organization of the United Nations (FAO), tilapia is the fifth most important finfish species, accounting for nearly 4.4% of the global aquaculture production in 2019-2020.
Asia Pacific aquaculture vaccines market is slated to expand at more than 5.6% CAGR to exceeded USD 27.8 million by 2027. Focus on research and development among the researchers in manufacturing novel vaccines will be a major growth initiating factor. For instance, in October 2018, International Veterinary Vaccinology Network (IVVN) and Belgian funding (VLIR-IUC program) conducted a workshop in Vietnam for prompting the use of vaccines in tilapia aquaculture. The workshop included scientists from Vietnam, Bangladesh, Malaysia, Indonesia and Thailand. The prime focus of the workshop was to develop immunological tools to monitor immune response in tilapia species.
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Few of the prominent players involved in the market include Hipra, Zoetis Inc., Merck & Co., Inc., Tecnovax, Virbac, Veterquimica S.A., and Nisseiken Co. Ltd. Key leaders are engaged in research and development initiatives to enhance their market foothold and expand geographic reach.
Table of Contents (ToC) of the report:
Chapter 3 Aquaculture Vaccines Market Insights
3.1 Industry segmentation
3.2 Industry landscape, 2016 - 2027
3.3 Industry impact forces
3.3.1 Growth drivers
3.3.2 Industry pitfalls & challenges
3.4 Growth potential analysis
3.4.1 By type of vaccines
3.4.2 By route of administration
3.4.3 By application
3.4.4 By species
3.5 Regulatory scenario
3.6 Product portfolio matrix
3.7 Porter’s analysis
3.8 Competitive landscape, 2020
3.9 PESTEL analysis
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
