Aquaculture Vaccines Market Size & Share Report 2022, 2028

Aquaculture Vaccines Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type of Vaccine (Live Vaccine, Inactivated Vaccine, and Others), Species (Tilapia, Trout, Salmon, Shrimps, and Others), and Route of Administration (Injection Vaccines, Immersion Vaccines, and Oral Vaccines)

  • Report Code : TIPRE00005403
  • Category : Pharmaceuticals
  • Status : Published
  • No. of Pages : 190
Buy Now

[Research Report] The aquaculture vaccines 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.

In aquaculture practices, there is always a chance of pathogenic outbreaks, which affects the farm production. Aquaculture vaccines are used to protect fish from any pathogen. Vaccination is a simple, reliable, and preventative technique of disease control for aquaculture.

Market Insights

Growing Aquaculture Industry Drives Market Growth

According to the data in a report titled "The State of World Fisheries and Aquaculture" published by the Food and Agriculture Organization of the United Nations in 2022, global consumption of aquatic foods, excluding algae, has increased by more than five times the quantity consumed nearly 60 years ago. Aquatic food consumption worldwide increased from 28 metric tons in 1961 to ~158 metric tons in 2019. The consumption increased at an average annual rate of 3.0 % from 1961, compared with a population growth rate of 1.6 %. Per capita consumption is rising due to increasing supplies, changing consumer preferences, and growing income. In 2019, the Food and Agriculture Organization of the United Nations estimated the per capita consumption of aquatic foods for 227 countries.

Regarding population, the countries consuming less than the world average accounted for 54 % of the world population in 2019. Aquatic food consumption is highest in Iceland, the Faroe Islands, and the Maldives, which consume over 80 kg of aquatic foods per capita per year. In 2019, the average per capita consumption across the world was 20.5 kg. This differed from an average of 5.4 kg in low-income countries to 26.5 kg in high-income countries. The rising consumption of aquatic animals is expediting the growth of the aquaculture industry. Aquaculture vaccines lower the chance of infection and increase the yield of products. Therefore, the growing aquaculture industry fuels the growth of the aquaculture vaccines market

Customize Research To Suit Your Requirement

We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.

Aquaculture Vaccines Market: Strategic Insights

aquaculture-vaccines-market
Market Size Value inUS$ 245.13 million in 2021
Market Size Value byUS$ 569.72 million by 2028
Growth rateCAGR of 12.9% from 2022 to 2028
Forecast Period2022-2028
Base Year2021
Analyst Image

Akshay

Have a question?

Akshay will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.

Analyst Image  Speak to Analyst
 

Rising Prevalence of Infectious Diseases in Aquatic Animals to Offer Ample Opportunities for Market During Forecast Period

As per the research study titled "Prevalence of Anisakid Nematodes in Fish in China: A Systematic Review and Meta-Analysis" published by the National Library of Medicine (NLM) in February 2022, the anisakid nematodes were widespread in fish across China with pooled incidence rate of 45.5%, and the occurrence percentage for fresh fish was the greatest (58.1%). Eastern China had the highest prevalence rate of anisakid nematodes (55.3%), while the prevalence of anisakid nematodes (76.8%) was highest in the East China Sea. According to the data published in Aquaculture Research & Development journal, ~219 cases of infectious diseases in the fresh aquaculture sector were registered from 2014 to 2018. Among these, 74.88% were parasitic, 12.80% were bacterial, 1.83% were viral, and 10.50% were cases that were a mix of parasitic and bacterial diseases. Therefore, the high prevalence of infectious diseases is expected to boost the demand for vaccines, which would provide lucrative opportunities for the aquaculture vaccines market in the coming years.

Type of Vaccine-Based Insights

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 market share in 2021. The market for the live vaccines segment is likely to grow at the highest rate during the forecast period.

Aquaculture Vaccines Market, by Type of Vaccine – 2021 and 2028

  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Species-Based Insights

The aquaculture vaccines market, based on species, is segmented into tilapia, trout, salmon, shrimps, and others. The salmon segment accounted for the largest share of the market in 2021 and is expected to register the highest CAGR of 13.4% during the forecast period.

Route of Administration -Based Insights

Based on route of administration, the aquaculture vaccines market is segmented into injection, immersion, and oral. The injection segment accounted for the largest share of the market in 2021 and is expected to register the highest CAGR of 13.1% during the forecast period.   

Companies adopt inorganic and organic strategies such as mergers and acquisitions in the aquaculture vaccines market. A few recent key market developments are listed below: 

  • In November 2022, Indian Immunologicals Ltd (IIL) partnered with the Central Institute of Fisheries Education (CIFE) for the development of India's first fish vaccine commercially. The vaccine will be developed for the protection of freshwater fish against common bacterial diseases.  
  • In August 2021, Elanco Animal Health Incorporated acquired Bayer Animal Health. The transaction, valued at US$ 6.89 billion, expanded Elanco's scale and capabilities, positioning the company for the long term as a leader in the attractive, durable animal health industry. The transaction added several anchor cattle brands, expanded the company's aqua presence into warm water fish, and enhanced the company's global bio-protection portfolio.
  • In July 2020, Zoetis acquired Fish Vet Group from Benchmark Holdings, PLC, as a strategic addition to its Pharmaq business, which develops and commercializes fish vaccines and offers services in vaccination and diagnostics for aquaculture. The acquisition enhanced the geographic reach and diagnostics expertise and testing services, including environmental testing, that Pharmaq's reference lab Pharmaq Analytiq can offer fish farmers in major aquaculture markets.     

Company Profiles

  • 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
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Type of Vaccine, Species, and Route of Administration

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

Argentina, Australia, Brazil, Canada, Chile, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, New Zealand, Norway, Saudi Arabia, South Africa, South Korea, Spain, United Arab Emirates, United Kingdom, United States

Frequently Asked Questions


What is the aquaculture vaccines market?

The vaccine is used to establish or improve the immunity against a specific disease or group of diseases. In aquaculture practices, there is always a chance of pathogenic outbreaks, which will affect the production of the farm. Aquaculture vaccines are used to protect the fishes from any pathogen. Vaccination is a simple, reliable, and preventative technique of disease for aquaculture.

What are the driving factors for the aquaculture vaccines market across the world?

The factors driving the aquaculture vaccines market growth, includes growing aquaculture industry and the surging demand for aquatic animal-derived food products. However, strict regulatory policies for the approval of vaccines and the high cost of vaccines hinder the aquaculture vaccines market growth.

Who are the major players in the aquaculture vaccines market?

The aquaculture vaccines market majorly consists of the players, such as AquaTactics Fish Health, HIPRA SA, Merck & Co Inc, Microsynbiotix Ltd, Indian Immunologicals Ltd, Nisseiken Co Ltd, Zoetis Inc, VETERQUIMICA SA, Phibro Animal Health Corp, and Elanco Animal Health Inc.

What will be the CAGR of the aquaculture vaccines market during the forecast period?

The market is estimated to grow at a CAGR of 12.9% during the forecast period.

What was the estimated aquaculture vaccines market size in 2021?

The aquaculture vaccines market was valued at US$ 245.13 million in 2021.

What are the growth estimates for the aquaculture vaccines market till 2028?

The aquaculture vaccines market is expected to be valued at US$ 569.72 million in 2028.

Which segment is dominating the aquaculture vaccines market?

The aquaculture vaccines market, by type of vaccine, is segmented into live vaccines, inactivated vaccines, and other vaccines. The inactivated vaccines segment held the largest market share in 2021. However, live vaccines segment is anticipated to register the highest CAGR in the market during the forecast period.

The List of Companies - Aquaculture Vaccines Market

  1. AquaTactics Fish Health
  2. HIPRA SA
  3. Merck & Co Inc.
  4. Microsynbiotix Ltd
  5. Indian Immunologicals Ltd
  6. Nisseiken Co Ltd
  7. Zoetis Inc.
  8. VETERQUIMICA SA
  9. Phibro Animal Health Corp
  10. Elanco Animal Health Inc

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

Your data will never be shared with third parties, however, we may send you information from time to time about our products that may be of interest to you. By submitting your details, you agree to be contacted by us. You may contact us at any time to opt-out.

Trends and growth analysis reports related to Aquaculture Vaccines Market