by The global Fish Vaccine Market is estimated to be valued at US$ 265.4 Mn in 2023 and is expected to exhibit a CAGR of 6.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Fish vaccines are biological products that help protect fish from disease and are used to vaccinate aquaculture fish species. Fish vaccines activate the fish immune system to produce protection from a disease. They help fish farms increase production and reduce treatment costs.
Market key trends:
One of the key trends in the fish vaccine market is the development of efficacious vaccines against emerging diseases. The aquaculture industry is facing new viral and bacterial diseases for which therapies are currently limited. Research organizations and vaccine manufacturers are focused on developing effective fish vaccines against diseases like viral encephalopathy and retinopathy virus, salmon pancreas disease virus, and infectious salmon anemia virus. These vaccines help protect farm-raised fish and reduce losses for fish farmers. More research efforts in this area are expected to drive the growth of the fish vaccine market during the forecast period.
SWOT Analysis
Strength: Fish vaccines help prevent the spread of infectious diseases among fish populations. This protects fish health and supports the sustainability of fish farming industry.
Weakness: Developing effective fish vaccines requires extensive research and testing. High development costs can limit commercial availability of certain vaccines.
Opportunity: Growing aquaculture industry worldwide along with rising fish consumption creates demand for reliable fish vaccines. Advances in vaccine technology also open up new opportunities.
Threats: Environmental factors and emergence of new diseases pose threats and require constant surveillance. Strict regulations around vaccine safety and efficacy add compliance challenges.
Key Takeaways
The global Fish Vaccine Market Growth is expected to witness high growth, exhibiting CAGR of 6.5% over the forecast period, due to increasing fish farming activities globally. Rising awareness about fish health management and disease prevention drives the market.
Regional analysis:
Asia Pacific dominates the global fish vaccine market and is expected to continue its lead, growing at over 7% CAGR during the forecast period. Rapid expansion of aquaculture industry particularly in China, India, Vietnam, Indonesia and Thailand drives the regional market. North America is anticipated to be the fastest growing market due to ongoing R&D efforts and widening applications of innovative vaccines.
Key players operating in the fish vaccine market are HIPRA, VETERQUIMICA SA, Ictyogroup, Kyoto Biken Laboratories, Inc., Vaxxinova International BV, Barramundi Group, Merck & Co., Inc., Zoetis Inc., KBNP, INC., Aqua Vet S.A., and NISSEIKEN CO., LTD. Companies are focused on developing novel vaccines against emerging pathogens and making investments in markets with high growth opportunities. Partnerships and acquisitions are also shaping the competitive landscape in this industry.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
