Aquaculture Vaccines Market: By Vaccine Type (Inactivated Vaccine, Attenuated Live Vaccine, DNA Vaccine, and Others), By Application (Bacterial Infection, Viral Infections, Combined Bacterial and Viral Infections, and Others), By Route of Administration (Immersion Vaccines, Injection Vaccines, and Oral Vaccines)and Geography, and Region (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa)—Forecast till 2028

Description

Market Overview:

The global aquaculture vaccines market size was valued at USD 380 million in 2023 and is projected to expand at a CAGR of 8.4% from 2024 to 2028.Most of the aquaculture vaccines have been developed to guard against bacterial infections. Oral or intraperitoneal (or intramuscular) injection methods are available for administering them. Although, the injection technique is the most protective, it is also the most labour-intensive, stressful for the fish, and has been associated with adverse consequences.

Market Size for Global Aquaculture Vaccine Industry on the Basis of Revenues in USD Bn, , 2018-2023

Source: Maven Market Research

What Factors are leading to the Growth of Global Aquaculture Vaccine Market:

• The global aquaculture vaccine market growth is driven by an increase in the prevalence of bacterial infections, the launch of new aquaculture vaccines, growing research and development activities, and rising awareness concerning viral infections.
• Factors such as an increase in aquaculture production, a rise in the prevalence of infectious diseases within the aquaculture industry, and a growing requirement for food derived from aquatic animals.
• Increase in vaccination trends within the sector, moving away from live weakened vaccines towards DNA vaccines, with swift implementation of recombinant vaccines.

Which Industry Trends have been Fueling the Growth

Performance by Key Players: Key players in both the aquaculture vaccine and other segments of animal and human health markets have redirected their efforts toward manufacturing essential products and supplies. Zoetis, one of the key players in aquaculture vaccine have announced a 13% increase in revenues during 2023 compared to previous financial year. This growth was accredited to the successful launch of a new companion animal parasiticide product, along with strong performance in Zoetis’ key dermatology portfolio.

Growing Cases of Infectious Diseases among Aquaculture Sector: Aquaculture stands as an important asset in the fight against global malnutrition and hunger. To fully harness its potential, the aquaculture industry offers a wide series of high-value products for international markets while also guaranteeing an ample supply of cost-effective fish for local consumption across regions globally. There were over 250 reported cases of infectious diseases within the freshwater aquaculture sector between 2018 and 2023. Among these cases, parasites registered for 74.88%, bacterial infectious for 12.80%, viral infections for 1.83%, and a mixture of parasitic and bacterial diseases for 10.50%. Hence, the prevalence of infectious diseases is projected to propel an increased demand for vaccines, thereby propelling the market across the globe.

Growth in Consumption of Aquatic Animals necessitates the demand for Vaccine: The significant increase in consumption of aquatic animals is propelling the expansion of the aquaculture industry, emerging as a primary driver for market growth. The usage of aquaculture vaccines plays an important role in decreasing the risk of infections and improving product yield, hence projected to drive the growth of market for aquaculture vaccines in the forecast period. For instance, according to the 2022 report by the Food and Agriculture Organization of the UN, global aquatic animal production reached nearly 178 million tons. Out of this, 63% originated from marine waters, while 37% originated from inland waters.

What is the Current Structure for Global Aquaculture Market?

Based on Vaccine Type, Inactivated Vaccines Registered the Largest Market Share in the Global Aquaculture Vaccines Market

Inactivated vaccines have accounted for more than 30% of the market revenues. Disease-causing microbes are fermented to create vast quantities of inactivated bacterial and viral vaccines.Disease-causing microorganisms are fermented to create large quantities of inactivated bacterial and viral vaccines. After that, all the germs are eliminated using inactivating agents like formalin. These inactivated organisms elicit an immune response because of their fundamental form, antigen characteristics, and structure.

Based on Route of Administration

Vaccines administered by injection has contributed significant share of 35% in 2023. The first DNA vaccine for IHNV protection in healthy salmonid fish to be authorized in Canada is Elanco’s Apex-IHN. The Zoetis Alpha Ject portfolio includes injectable aquaculture vaccines that provide protection against illnesses such furunculosis, vibriosis, cold-water vibriosis, winter sore, infectious salmon anemia, and IPN.

Oral Vaccines on the other hand,is expected to grow at a CAGR of 8.7% during 2024-2028. When compared to other delivery techniques, oral vaccination offers several benefits. Large groups of individuals can be immunized using this non-invasive, easily administered approach that does not need handling of the fish.

Based on Application

Bacterial application has accounted for majority of the share in global aquaculture market. Bacterial species spanning over 20 genera have been discovered by the USDA’s Aquatic Animal Health Research as the causative agents of aquatic diseases. More than 20 different species of freshwater and marine fish are affected by them. During the forecasted period 2024-2028, revenue from the viral application of aquaculture vaccines is anticipated to increase at a CAGR of around 8%. As per a study published by the Responsible Use of Medicines in Agriculture Alliance (RUMA), Atlantic salmon, rainbow trout, and Atlantic cod are the main species of fish cultivated through aquaculture that get regular vaccinations.

By Region, Asia Pacific is Estimated to Exhibit the Largest Market Share in the Global Market for Aquaculture Vaccine

The Asia-Pacific region contribute the largest share of the aquaculture vaccines market, primarily due to the presence of one of the largest aquaculture industries across APAC. Emerging countries like India and China are among the key producers of aquaculture. According to the 2022 report by the Food and Agriculture Organization (FAO) of the United Nations, Asian nations registered for 70% of the total fisheries and aquaculture production of aquatic animals.

Europe on the other side, is expected to be one of the most profitable markets for commercial aquaculture vaccines over the duration of the projection. For example, Norway is a major salmon exporter worldwide because of its business sector and government backing, rising public concern over antimicrobial resistance, and the presence of important actors.

Competitive Analysis

Prominent vaccine manufacturers are addressing the challenges encountered by aquaculture farmers and meeting their demands for environmentally friendly fish aquaculture farming through the development of efficient and user-friendly commercial vaccines. These programs are meant to assist them in growing their global sales in the commercial aquaculture vaccinations industry.

Due to extensive engagement in the aquaculture vaccines sector, few significant firms presently have a dominant position in the consolidated aquaculture vaccines market. Among the leading players in the aquaculture vaccines market some of the leading players are Elanco, Hipra, Technovax, Zoetis (PharmaQ), Merck & Co., Inc.

Market Segmentation

Global Aquaculture Vaccine Market, by Product Type

• Attenuated Live Vaccines
• Inactivated Vaccines
• Subunit Vaccines
• DNA Vaccines
• Recombinant Vaccines

Global Aquaculture Vaccine Market, by Route of Administration

• Oral
• Injected
• Immersion & Spray

Global Aquaculture Vaccine Market, by Application

• Bacterial
• Viral
• Parasitic

Global Aquaculture Vaccine Market, by Region

• North America
  • US
  • Canada
• Europe
  • Germany
  • UK
  • Russia
  • France
  • Italy
  • Spain
  • Rest of Europe
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Indonesia
  • Malaysia
  • Rest of Asia-Pacific
• Latin America
  • Mexico
  • Brazil
  • Argentina
  • Rest of Latin America
• Middle East & Africa
  • GCC Countries
  • Turkey
  • South Africa
  • Rest of Middle East & Africa

Major Players Included

• GlaxoSmithKline plc
• Merck & Co., Inc
• Pfizer, Inc.
• Sanofi SA
• CSL Limited
• Emergent BioSolutions, Inc.
• Johnson & Johnson
• AstraZeneca plc
• Serum Institute of India Pvt. Ltd.
• Bavarian Nordic A/S
• Mitsubishi Tanabe Pharma Corporation
• Daiichi Sankyo Company, Limited
• Panacea Biotec, Ltd.
• Biological E Limited
• Bharat Biotech Ltd.
• Novavax, Inc.
• FSUE NPO Microgen
• Sinovac Biotech, Ltd.
• Incepta Vaccine Limited
• Valneva SE
• VBI Vaccines
• PT Bio Farma
• Inovio Pharmaceuticals, Inc.
• Chongqing Zhifei Biological Products Co.Ltd.
• Indian Immunologicals Limited

Intended Audience

• Aquaculture Vaccine manufacturers
• Aquaculture Feed Manufacturers
• Aquaculture Companies
• Suppliers and traders of Aquaculture Vaccine
• Government, associations, and industrial associations
• Investors and trade experts
• Consulting in Aquaculture Vaccine experts