Covina, Sept. 25, 2023 (GLOBE NEWSWIRE) -- What is Aquaculture Vaccines Market?
Aquaculture vaccines are specialized vaccines developed and used in the aquaculture industry to protect farmed aquatic organisms, such as fish and shellfish, from various diseases. The use of vaccines in aquaculture is crucial for maintaining the health and productivity of aquaculture operations, reducing the reliance on antibiotics, and ensuring the sustainability of the global seafood supply.
The global demand for seafood continues to rise, leading to the expansion of the aquaculture industry. As aquaculture production increases, so does the need for effective disease management through vaccination and further, the demand for Aquaculture Vaccines Market growth expands.
Key Highlights:
- In March 2023, Indian Immunologicals Limited (IIL) partnered with the Central Institute of Freshwater Aquaculture, Bhubaneswar to develop fish vaccine. The IIL entered the aquaculture industry by releasing products that dealt with pond management and fish or prawn gut management for the aquaculture health market. The company then announced the commercial development of fish vaccines alongside ICAR-CIFE.
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Report Coverage:
| Attributes | Details |
| Aquaculture Vaccine Market Value (2022) | US$ 381.4Mn |
| Aquaculture Vaccine Market Projected Value (2032) | US$ 946.5Mn |
| Aquaculture Vaccine Market CAGR (2022 – 2032) | 9.0% |
Segmentation:
- By Route of Administrations - Spray vaccination, Oral vaccines, Injection vaccines, and Immersion vaccines
- By Species - Fixed Mounting, Carps, Salmon, Surgeon, and Trout
- By Type of Vaccines - Inactivated vaccines, live vaccines, and Other Type of Vaccines
- By Applications - Viral infection, Bacterial infection, Other Applications
Development of Aquaculture Vaccines Market in future
The Aquaculture Vaccines Market is poised for growth in response to the increasing global demand for seafood, the need for effective disease management in aquaculture, advancements in vaccine technologies, and a growing emphasis on sustainability, regulatory support, and biosecurity measures. This market will likely evolve to meet the challenges of emerging diseases, globalized aquaculture, and consumer preferences for responsible and sustainable aquaculture practices.
Impact of COVID-19 on the Aquaculture Vaccines Market
- Supply chain disruptions and production delays.
- Labor shortages affecting farm management and vaccine administration.
- Reduced exports and economic downturn.
- Increased interest in biosecurity measures.
- Regulatory changes and delays in research.
- Varied impact by region.
Analyst View:
Disease outbreaks can have devastating effects on aquaculture operations, causing significant economic losses. Vaccination is a critical tool in preventing and controlling diseases in farmed aquatic species, contributing to higher production yields and profitability. Therefore, new and emerging diseases continue to pose challenges to the aquaculture industry and the need for vaccines to combat these diseases is driving innovation and investment in the aquaculture vaccines market.
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Top leading players:
- Zoetis Inc
- Phibro Animal Health Corporation
- Elanco
- Merck & Co., Inc.
- KMNP, INC.
- CAVAC
- Kyoto Biken Laboratories, Inc.
- Nisseiken Co., Ltd.
- Vaxxinova International BV
- HIPRA
- Veterquimica S.A.
- TECNOVAX
- Virbac S.A.
- Pfizer, Inc.
- MICROSYNBIOTIX LIMITED
- ICTYOGROUP
Market Opportunities:
Here are some of the market opportunities and trends in the aquaculture vaccines sector:
- Growing Demand for Seafood: The global demand for seafood continues to rise, driven by factors like population growth and increasing awareness of the health benefits of consuming fish and other seafood. As wild fish stocks become increasingly depleted, aquaculture has become a major source of seafood production. This, in turn, drives the demand for aquaculture vaccines to ensure the health and disease resistance of farmed fish and shellfish.
- Disease Prevention: Disease outbreaks can be catastrophic for aquaculture operations. The use of vaccines in aquaculture is crucial for preventing and managing diseases. With more stringent regulations on antibiotic use in aquaculture, vaccines become an attractive alternative for maintaining the health and productivity of fish and shrimp farms.
- Technology Advancements: The aquaculture vaccines market has witnessed advancements in vaccine technology, including the development of more effective and cost-efficient vaccines. Innovations in delivery methods, such as oral vaccines, have also emerged, making vaccination easier and more practical for large-scale operations.
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Conclusion:
The Aquaculture Vaccines Market has experienced significant growth due to rising global demand for seafood and the increasing importance of disease prevention in aquaculture. Technological advancements, stringent regulations, and a focus on sustainability have driven vaccine adoption, particularly in Asia. Ongoing innovation and the need for environmentally friendly practices are expected to shape the market's future, though challenges like regulatory complexity and vaccine efficacy must be addressed for sustained growth.
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