As per our research report, from 2022 to 2027, the global aquaculture vaccines market is expected to grow at a CAGR of 7.12%, from USD 227.1 million in 2022 to USD 320.3 million in 2027.
The coronavirus outbreak is wreaking havoc on businesses and has dramatically slowed the economy. COVID-19 is putting a strain on medical systems around the world. Only a few healthcare systems may handle the increased demand during a pandemic due to the rapidly expanding demand for healthcare facilities and staff. Human activity, either directly or indirectly, causes COVID-19 pandemics. COVID-19 can be transferred from animals to humans despite proof or certification. The number of abandoned pets has risen dramatically due to the widespread notion that animals can spread sickness to humans.
COVID-19 has also disrupted the supply chain, resulting in a global shortage of animal health goods, especially nutritious feed. Many animal health producers have been left with significantly reduced staff, which has had a significant impact. Healthcare establishments are stocking up on animal-related health products in anticipation of rising demand. The market is expected to be more financially squeezed due to procurement inefficiencies and squandered speeds. Due to the pandemic problem, many hospitals and veterinary clinics are stockpiling up on supplies. COVID-19 is predicted to have a substantial impact on the global aquaculture vaccines market due to these considerations.
Growing aquaculture production, a high incidence of viral infections in the aquaculture sector, and increased demand for aquatic animal-derived food items are likely to drive the worldwide aquaculture vaccines market.
As demand for aquatic animal-derived food products such as oil, caviar, protein powders, and meat surges, aquaculture producers turn to vaccinations to boost profits. In addition, due to rising urbanization, consumers are becoming more aware of the nutritional value of animal protein. As a result, the demand for healthy aquatic animal breeding is expected to rise, boosting demand for aquaculture vaccines and boosting the market growth. General management and appropriate husbandry, which encompasses immunity, genetics, system management, nutrition, and water quality, are essential considerations in expanding aquatic animal healthcare.
Developing novel and enhanced vaccinations to treat different bacterial and viral infections during fish farming is also expected to boost the market growth. Numerous funding and research projects for developing novel vaccinations are expected to aid the development of the global aquaculture vaccines market. Increased vaccination uptake by aquaculture growers is one of the main major growth contributors. Vaccination improves the survival rate and profitability of aquaculture produce. The use of vaccines in aquaculture will grow in the coming years, thanks to the development of DNA and subunit vaccines due to technological advancements.
Around 580 aquatic species are farmed globally, according to the UN Food and Agriculture Organization, making it one of the fastest expanding food sectors. It also adds that because fish is a staple diet in many nations, about half of its fish is consumed as food. The aquaculture business is shifting away from traditional antibiotic treatments and preventive measures like vaccinations. Medicines were commonly utilized in the past; however, overuse of antibiotics increased the risk of bacterial resistance among those who consumed these aquatic species. According to the paper “Current Status of the Use of Antibiotics and Antimicrobial Resistance in Chilean Salmon Farms,” Chile is the world’s second-largest producer of edible salmon. In 2016, antibiotics were used to treat 382.5 tonnes of salmon fish cultured. Vaccination and other preventive measures are required to limit the danger of transmission. As a result, the market for aquaculture vaccines is expected to grow.
Vaccines must meet stringent rules and regulations to enter the market, which is projected to slow the market’s growth. Furthermore, the vaccine development process is much more complex and time-consuming, reducing the worldwide aquaculture vaccines market’s growth rate. The illness is the greatest serious threat to the aquaculture business. Aquaculture has seen severe financial difficulties; nonetheless, the principal high-cost operators in the growth of aquaculture are persistent diseases caused by viral, bacterial, mycotic, and parasitic roots.
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KEY MARKET INSIGHTS:
- Based on the product, the inactivated vaccine segment is estimated to have the largest share of the worldwide aquaculture vaccines market during the forecast period. Killing a pathogen before it is cultivated and put into a vaccine produces inactivated vaccinations, also known as killed vaccines. These are the vaccines that are most commonly used to protect against various bacterial and viral illnesses. Despite the need for multiple doses, there is little chance of a pathogen reversing or interfering with the system. As a result, inactivated vaccines are the most extensively licensed and commercially available vaccinations.
- In 2020, Europe was the largest market for aquaculture vaccines. The rise of this regional market is aided by Norway’s position as the world’s largest salmon exporter, government and private-sector backing, rising human concerns about antibiotic resistance, and the presence of key actors. The European Commission supported a large-scale joint project to help the aquaculture industry in the 7th Framework Program.
- The increased use of antibiotic-resistant vaccines will drive the European aquaculture vaccination sector. Fish infections remain one of the most common causes of commercial aquaculture economic losses, even though there are many alternative techniques for novel therapy in fish farming. Chemotherapeutics and antibiotics have several drawbacks in treating sickness, including safety problems. The disadvantages of chemotherapeutics and antibiotics drive growing demand for aquaculture vaccinations. Complex vaccine development procedures and strict regulatory standards for vaccine approval, on the other hand, are predicted to limit the market expansion.
- One of the primary drivers of market growth in developing and marketing novel vaccines. New vaccinations for viral and bacterial illnesses are being developed continuously. In fish, vaccinations made from inactivated bacterial pathogens have proven particularly effective. Intending to prevent the spread of bacterial and viral infections, the government collaborates with private enterprises to develop and launch new vaccinations.
- The Asia Pacific is expected to retain a considerable market position in the global aquaculture vaccines market due to the growing aquaculture industry and developments in vaccination. All five major aquaculture-producing countries are located in Asia. The expansion of the APAC aquaculture vaccines market is forecasted to be driven by the development of novel vaccines and new vaccine launches by various firms. Hipra, for instance, marketed Icthiovac CR/PD vaccines all around the world, including in the Asia Pacific. In addition, Pasteurellosis and vibriosis are treated with vaccinations. Companies’ activities have laid the road for future market expansion and growth prospects. Furthermore, advances in technology will expand the use of vaccinations in aquaculture.
- The market would rise due to the rising prevalence of bacterial and viral illnesses in the region. In addition, millions of fish are vaccinated each year in Asia Pacific countries due to the switch from antibiotics to immunizations. Vaccination also increases the rate of survival, allowing for increased vaccine production. Complex vaccine development procedures and strict regulatory standards for vaccine approval, on the other hand, will limit market expansion.
- The market for aquaculture vaccines in China is expected to grow at a prominent CAGR during the forecast period, owing to the increased tilapia production and other related species. According to the NOAA Fisheries report from 2017, roughly 89 percent of fish, mollusks, and crustaceans in the Asia Pacific region are cultivated. According to the data, China produces about 49,244,101 metric tonnes of crustaceans, fish, and mollusks. Furthermore, diseases such as hepatopancreatic microsporidiosis and acute hepatopancreatic necrosis would raise aquatic animal healthcare management requirements.
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SEGMENTS COVERED UNDER THIS REPORT:
- Attenuated Live Vaccines
- Inactivated Vaccines
- Subunit Vaccines
- DNA Vaccines
- Recombinant Vaccines
By Route of Administration:
- Immersion & Spray
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
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