Aquaculture Vaccines Market is expected to reach US$ 569.72 million by 2028

Inactivated Vaccines Segment to Lead Aquaculture Vaccines Market During 2021–2028

According to our new research study on “Aquaculture Vaccines Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type of Vaccine, Species, and Route of Administration,” the market is expected to grow from US$ 245.13 million in 2021 to US$ 569.72 million by 2028; it is estimated to grow at a CAGR of 12.9% from 2022 to 2028.

The report highlights trends prevailing in the market and factors driving its growth. The market growth is mainly attributed to the growing aquaculture industry and surging demand for aquatic animal-derived food products. However, strict regulatory policies for the approval of vaccines and the high cost of vaccines hamper the market growth.

Based on type of vaccine, the aquaculture vaccines market is segmented into live vaccines, inactivated vaccines, and other vaccines. The inactivated vaccines segment held the largest share of the market in 2021. However, the live vaccines segment is anticipated to register the highest CAGR in the market during the forecast period. The inactivated vaccine is prepared by physical or chemical treatment of the pathogen so that the organisms become inactive (loses replication capability) but maintain their immunogenicity. The vaccine is usually prepared with a virulent strain and is immunogenic. A few examples of chemical inactivating agents are formaldehyde, glutaraldehyde, and beta propiolactone; they change the structural conformation or cross-link the structures and ultimately inactivate the organisms. Advantages of such vaccines are no possibility of reversion, no shedding and contamination of an environment, and stability, thus less need for a cold chain.

Aquaculture Vaccines Market, by region, 2021 (%)

Impact of COVID-19 Pandemic on Aquaculture Vaccines Market

The COVID-19 pandemic hampered the manufacturing, healthcare, aerospace & defense, and construction industries in 2020. The pandemic has had adverse impacts on aquaculture value chains. The crisis has negatively affected the aquaculture input supply, thus affecting the aquaculture vaccine market. Inadequate and irregular input supply raised concerns about aquaculture practices, which may undermine future production. In North America, the aquaculture sector was jeopardized by the COVID-19 crisis due to disruptions in input supply and output distribution. The pandemic severely disrupted the marketing of aquaculture products. Globally, the crisis has also affected the livelihoods of millions of people working in the aquaculture sector. Moreover, reduced employment and lower incomes during the pandemic have affected seafood consumption across the world.

Impacts of COVID-19 on fisheries and aquaculture affected supply and demand. Transport and border restrictions reduced the supply. The pandemic and sluggish overseas markets impacted India’s seafood sector as well. The country exported 11,49,341 metric ton of marine products (worth US$ 5.96 billion) during FY 2020–2021, a decrease of 10.8% as compared to seafood export of 12,89,651 metric ton during 2019–2020.

Various measures were taken to mitigate the impact of the pandemic, which would also enable the post-pandemic recovery of the aquaculture sector and the aquaculture vaccine market.

AquaTactics Fish Health, HIPRA SA, Merck & Co Inc, Microsynbiotix Ltd, Indian Immunologicals Ltd, Nisseiken Co Ltd, Zoetis Inc, VETERQUIMICA SA, Phibro Animal Health Corp, Elanco Animal Health Inc., Tecnovax SA are among the leading companies operating in the aquaculture vaccines market.

The report segments the global aquaculture vaccines market as follows:

The aquaculture vaccines market is segmented on the basis of type of vaccine, species, route of administration, and geography. Based on type of vaccine, the market is segmented into live vaccines, inactivated vaccines, and other vaccines. Based on species, the market is segmented into tilapia, trout, salmon, shrimps, and others. By route of administration, the aquaculture vaccines market is segmented into injection vaccines, immersions vaccines, and oral vaccines. Based on geography, the market is segmented into North America (the US, Canada, and Mexico), Europe (France, Germany, the UK, Spain, Italy, Norway, Egypt, and the Rest of Europe), APAC (China, India, Japan, Australia, South Korea, Indonesia, New Zealand, and the Rest of APAC), the Middle East & Africa (Saudi Arabia, the UAE, South Africa, and the Rest of MEA), and South & Central America (Brazil, Argentina, Chile, and the Rest of SCAM).

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