The global market for Aquaculture Vaccines was valued at USD 3.76 Billion in 2022, and it is expected to have a revenue Compound Annual Growth Rate (CAGR) of 8.40% during the forecast period, according to a recent report from Reports and Data.
The growth of the aquaculture vaccines market can be attributed to various factors, including the rising consumer demand for fish and seafood, the prevalence of aquatic diseases, the improvement in vaccine quality by aquaculture breeders, effective regulations, and research on novel vaccination to cure infections caused by viruses and bacteria.
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The demand for fish and seafood is increasing as a result of population growth and changing dietary preferences. As a result, there is a growing need for vaccinations to protect aquatic animals from a variety of diseases and illnesses, driving the market's revenue growth. Other factors contributing to market growth include increased government initiatives to support aquaculture, technological advancements in the production of more effective vaccines for aquatic animals, and the demand for vaccines and other preventative treatments to protect aquatic animals from illnesses and infections.
Some market highlights from the report include the expected dominant revenue share of the attenuated live vaccines segment due to the growing need for vaccines to protect vital aquaculture species against various viral and bacterial infections. The fastest growth in revenue is expected to be seen in the viral segment, attributed to the rising adoption of viral vaccines that provide effective and durable protection against a variety of virus strains.
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During the forecast period, the Asia Pacific market is anticipated to contribute the greatest revenue share, mainly due to the region's high frequency of contagious diseases in aquaculture species, the expanding demand for seafood, and the need for eco-friendly and sustainable aquaculture techniques.
Some of the major companies profiled in the global market report are Hipra, Zoetis, Merck Animal Health, Elanco, Indian Immunologicals, Fish Vet Group, Vaccibody AS, Novartis AG, Tecnovax, Pfizer, Intervet Inc., BioMarin Pharmaceutical Inc., AquaBounty Technologies, Ridgeway Biologicals Ltd., and Vaxxinova.
The global aquatic vaccines market has been segmented based on product outlook, route of administration outlook, application outlook, and regional outlook. The product outlook includes attenuated live vaccines, inactivated vaccines, subunit vaccines, DNA vaccines, and recombinant vaccines. The route of administration outlook includes oral, injected, immersion, and spray. The application outlook includes bacterial, viral, and parasitic. The regional outlook includes North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.
Overall, the global market for aquaculture vaccines is expected to continue growing due to increasing demand for fish and seafood, advancements in vaccine technology, and rising awareness about the importance of eco-friendly and sustainable aquaculture practices.
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