Fish Vaccine Market Trends Report | Size & Share 2030

The fish vaccine market size was valued at US$ 355.88 million in 2022 and is projected to reach US$ 617.38 million by 2030. It is estimated to grow at a CAGR of 7.1% during 2022–2030.

Market Insights and Analyst View:

The fish vaccine market size is increasing with growing government initiatives to develop the aquaculture industry and surging demand for aquatic animal-derived food.  Additionally, the development of novel fish vaccines in the market is expected to create ample opportunities for the fish vaccine market. Fish vaccine has come a long way in recent years due to advancements in research and technology. Traditional vaccines have limitations and drawbacks, which bolsters the demand for the development of novel advanced vaccines such as chimeric multiepitope vaccines. Scientific and technological advancements have opened up newer avenues in the basic and applied research fields of aquatic vaccines.

Growth Drivers and Challenges:

Aquaculture grows exponentially due to the high demand for seafood and decreasing annual catch of wild fish. Thus, governments are taking initiatives to improve and support the growth of the aquacultural industry. For instance, in February 2021, the Foundation for Food & Agriculture Research (FFAR) funded US$ 790,326 to create a delivery system for a vaccine that can help stop the tilapia lake virus and other diseases from spreading in the aquaculture sector.

An unhealthy diet is a growing concern in developing and developed countries, resulting in a variety of adverse health consequences. Thus, fish is highly advisable in the diet for healthy growth and development, as it is rich in vitamins, minerals, lipids, and macronutrients such as proteins. Additionally, it is believed that aquaculture is the most effective way to produce high-quality proteins for a sustainable human diet.

The development of an effective mucosal vaccine while strengthening the administration process is expected to accelerate the novel vaccine development, which would boost the aquaculture businesses globally to regularize fish vaccination processes. Thus, the development of novel fish vaccines is likely to create significant opportunities for the market growth.

The use of fish vaccine must be approved by an appropriate authority in the nation or region where it will be used. Prior to any use or trade, it is mandatory to follow specific rules and recommendations set by relevant competent authorities. The legislation, requirements, and involved regulatory bodies for authorization and use may vary by country. A national competent authority in the EU cannot authorize fish vaccines. The European Medicines Agency authorizes them for the entire European Union. The cost of producing vaccines is high as the EU has strict guidelines for vaccine manufacturers regarding good manufacturing practices (GMP). Fish vaccines have a smaller market than vaccines for other animal species, and their development costs are higher than those of vaccines for other animal species. In the US, the FDA approves fish vaccines. The development of fish vaccines takes 10 years or longer and costs US$ 10–20 million. Thus, stringent government regulations hinder the market growth.

Emergence of disease outbreak caused by parasites, viruses, and bacteria have slowed down the evolution of the global aquaculture industry for several decades. Aside from being harmful to human health, emerging diseases have a significant impact on aquatic animals. Traditional vaccines have limitations and drawbacks, which bolsters the demand for the development of novel advanced vaccines such as chimeric multiepitope vaccines. Newer avenues in the basic and applied research fields of aquatic vaccines have been opened up by scientific and technological advancements. An effort has been made to create novel aquatic vaccines with higher quality and efficiency using new technologies, approaches, and strategies.

Using the available bioinformatics tools and current knowledge of immunoproteomics and genomics, researchers can identify potential targeted epitopes that immune cells can recognize. Further, as the cost of techniques such as whole genome sequencing continues to decline, it opens the way for species-specific vaccine development. This is likely to boost investments in developing new vaccines. In 2021, the Central Institute of Brackishwater Aquaculture (ICAR) launched a recombinant vaccine against viral nervous necrosis (VNN) in India.

Thus, the development of an effective mucosal vaccine with strengthening the administration process is expected to accelerate the novel vaccine development, which would boost the aquaculture businesses in Mediterranean countries to regularize fish vaccination processes. Hence, development of novel fish vaccines is likely creating significant opportunity for market growth

Diversifying into new fish species, particularly marine fish, is a trend in the aquaculture sector. Farms across the world are increasingly relying on vaccinations to manage animal health. The development of novel pathogens with extensive antigenic diversity may also reduce the effectiveness of conventional vaccines. This motivates vaccine researchers to look into new techniques for creating potent vaccines for aquaculture. Subunit or recombinant DNA/RNA particle vaccines may have been created using modern vaccine technology, which is focused on specific pathogen components. Finding new vaccine candidates to fight fish pathogens such as mycotic and parasitic agents is made possible by recent advancements in vaccines and vaccinology. The development and production of fish vaccines can done rapidly with the help of new techniques in genetics, immunology, and biotechnology. These techniques include the use of genetically engineered vectors, recombinant vaccines, and DNA vaccines.

DNA vaccine technology provides significant protection against fish diseases. Targeting the construct and/or transgene to antigen-receptor cells is a promising way to improve the DNA vaccine's effectiveness against other viral diseases. Molecular assemblies can be used to target dendritic cells (DC) and antigen-presenting cells (APC) in DNA vaccines, producing immune responses as a result. Another tactic is to encapsulate the DNA vaccine in specific carriers to increase transgene and MHC expression.

The development of novel vaccines known as recombinant DNA-based vaccine or new-generation vaccines has made extensive use of R DNA technology. Recombinant immunogenic protein vaccines or epitopes purified from vectors carrying the gene of interest produced in prokaryotic or eukaryotic expression systems, peptide vaccines, live vaccines produced by defined genetic manipulations, and microbial vectors carrying gene coding for immunogenic protein and DNA vaccines are among the types of vaccines based on recombinant DNA technology that have been developed. Recombinant vaccines have the advantage of closely simulating naturally occurring infections, which aids in triggering a potent immune response in the treated fish.

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Fish Vaccine Market: Strategic Insights

Market Size Value in	US$ 355.88 million in 2022
Market Size Value by	US$ 617.38 million by 2030
Growth rate	CAGR of 7.1% from 2022 to 2030
Forecast Period	2022-2030
Base Year	2022

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Report Segmentation and Scope:

The fish vaccine market is divided on the basis of vaccine type, application, route of administration, and species. Based on vaccine type, the fish vaccine market is segmented into inactivated vaccines, live vaccines, subunit vaccines, recombinant vector vaccine, and others. Based on application, the fish vaccine market is segmented into bacterial, viral, and parasitic. Based on route of administration, the fish vaccine market is classified into injected, immersion, and oral. Based on species, the fish vaccine market is segmented into salmon, trout, tilapia, and others. Based on geography, the fish vaccine market is segmented into North America (the US, Canada, and Mexico), Europe (the UK, Germany, France, Italy, Spain, and the Rest of Europe), Asia Pacific (China, Japan, India, South Korea, Australia, and the Rest of Asia Pacific), the Middle East & Africa (the UAE, Saudi Arabia, South Africa, and the Rest of the Middle East & Africa), and South & Central America (Brazil, Argentina, and the Rest of South & Central America).

Segmental Analysis:

Based on vaccine type, the fish vaccine market is segmented into inactivated vaccines, live vaccines, subunit vaccines, recombinant vector vaccines, and others. After being administered to aquatic animals, inactivated vaccines still maintain their immunogenicity and lead to specific resistance in those animals. Inactivated vaccines use physical or chemical methods to inactivate highly virulent pathogenic microorganisms. The use of ultraviolet light, high-temperature heating, ultrasound, and G-ray are examples of physical inactivation techniques. Chemical inactivation is the process of making harmful bacteria dormant by using chemicals to break down their nucleic acids or proteins. In contrast to chemical inactivation, which is the most widely used form of inactivation, physical inactivation is difficult, expensive, constrained, and unstable. Inactivated vaccines help combat the spread of bacterial diseases such as Vibriosis, Tenacibaculosis, and Francisellosis. There are various advantages of inactivated vaccines, such as easy to prepare, store, and transport, as well as a high level of safety and stability of immunogenicity.

The availability of inactivated fish vaccines in various countries/regions is anticipated to fuel the growth of the segment. For instance, inactivated vaccines offered by Merck Animal Health, MSD Animal Health, Pharmaq, Aquavac-vaccines, and hipara are approved by the US FDA for various fish diseases such as Vibriosis, Furunculosis, Enteric septicemia of catfish (ESC), and Pasteurellosis. These vaccines are available in different regions/countries, such as the US, Canada, Japan, Europe, Australia, Chile, Vietnam, Taiwan, Japan, Brazil, Indonesia, Norway, the UK, Ireland, and Iceland.

Fish Vaccine Market, by Vaccine Type – 2022 and 2030

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Based on the application, the fish vaccine market is classified into bacterial, viral, and parasitic. In 2022, the bacterial segment held the largest share of the market and is expected to register the highest CAGR during 2022–2030. Poor water quality, organic loading of the aquatic environment, improper handling and transport of fish, and significant temperature changes frequently cause bacterial diseases in fish, which consequently drives the need for vaccines that can help treat bacterial infections in fish.

Based on route of administration, the fish vaccine market is classified into injected, immersion, and oral. In 2022, the injected segment held the largest share of the market. The immersion segment is expected to register the highest CAGR during 2022–2030.

Based on species, the fish vaccine market is classified into salmon, trout, tilapia, and others. In 2022, the salmon segment held the largest share of the market. The others segment is expected to register the highest CAGR during 2022–2030.

Regional Analysis:

Based on geography, the fish vaccine market is divided into North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America. North America is the largest contributor to the growth of the fish vaccine market, and Asia Pacific is expected to be the fastest-growing market in the coming years. The market growth in North America is attributed to the increase in aquaculture vaccines in the US. For instance, according to the World Bank, the US produced ~448 thousand metric ton of aquaculture vaccines. As per the same source, about 5.6 million fish were produced in 2021 in North America, of which ~4.7 million is produced in the US, which is ~83% of the total region. The ongoing research related to the immune system of fish for developing vaccines with higher efficacy is fuelling the growth of the market in Mexico. For instance, in December 2022, researchers at Salinas Lab in The University of New Mexico’s Department of Biology discovered an immune structure in the rainbow trout’s nasal cavity, which will help understand the efficacy of the vaccine given to the trout.

Competitive Landscape and Key Companies:

Zoetis Inc., Merck & Co Inc., Hipra SA, Phibro Animal Health Corp, Vaxxinova International BV, Kyoto Biken Laboratories, Elanco Animal Health Inc., Nisseiken Co., Ltd., KBNP Inc., Choong Ang Vaccine Laboratories Co., Ltd., and INDIAN IMMUNOLOGICALS LTD. are a few prominent players operating in the fish vaccine market. These companies focus on expanding service offerings to meet the growing consumer demand worldwide. Their global presence allows them to serve a large set of customers, subsequently allowing them to expand their market share.