Fish Vaccine Market Size, Share, Growth, and Industry Analysis by Type (Injectable Vaccines, Dip Vaccines and Oral Vaccine) By Application (Pangasius, Tilapia, Salmon, Seabass and Others), Regional Insights, and Forecast To 2031

Updated On: 22 April 2024

Fish Vaccine Market REPORT OVERVIEW

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global fish vaccine market size was USD 338.6 million in 2021 and market is projected to touch USD 822.32 million by 2031 at CAGR 9.2% during the forecast period.

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre- pandemic levels once the pandemic is over.

The fish vaccine market refers to the global market for vaccines that are specifically designed and used to prevent diseases in various species of fish. The market includes vaccines for farmed fish as well as for fish in the wild, and is driven by the increasing demand for safe and sustainable fish products. The fish vaccine market is expected to experience significant growth in the coming years, with factors such as rising demand for fish as a protein source, increasing aquaculture activities, and a growing focus on disease prevention and control driving the demand for fish vaccines.

Overall, the fish vaccine market represents an important area of growth and innovation within the broader animal health and biotechnology industries, with significant potential for new product development and commercial success in the years ahead.

COVID-19 Impact: Disrupted Supply Chain to Limit the Market Demands

Firstly, the pandemic has disrupted global supply chains, which has affected the production and distribution of fish vaccines. This has resulted in delays in the delivery of vaccines to fish farmers, which has impacted their ability to protect their fish stocks from diseases.

Secondly, the pandemic has caused a decline in demand for fish and seafood products, which has reduced the need for fish vaccines. As a result, some fish vaccine manufacturers have seen a decrease in sales and revenue.

LATEST TRENDS

"Increasing Demand for Fish Products to Augment the Market Growth"

The fish vaccine market is expected to experience significant growth in the coming years. The increasing demand for fish products and the rising prevalence of fish diseases are driving the growth of this market. Additionally, government initiatives to promote the use of vaccines in fish farming are also contributing to market growth. There has been a shift towards the use of more advanced and innovative fish vaccines that are effective against a broader range of fish diseases. The development of new vaccines that are more effective, safer, and cost-efficient is also a key trend in the fish vaccine market.

Moreover, there is a growing demand for fish vaccines that are eco-friendly and do not have any harmful impact on the environment. This trend is driven by the increasing awareness of the need for sustainable aquaculture practices.

Fish Vaccine Market Segmentation

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• By Type Analysis

By type, market is segmented into injectable vaccines, dip vaccines and oral vaccine. The injectable vaccines type segment will dominate the market in the coming years.

• By Application Analysis

Based on applications, the market is classified into pangasius, tilapia, salmon, seabass and others. The pangasius segment will lead the global share through 2031.

DRIVING FACTORS

"Rising Incidence of Fish Diseases to Push the Market"

With growing awareness of the health benefits of fish, there is a growing demand for fish products worldwide. This has led to increased production of fish, which in turn has driven the demand for vaccines to protect fish from diseases. Fish diseases are a significant problem for the aquaculture industry, leading to significant losses of fish and revenue. Vaccines are becoming increasingly important in preventing and controlling fish diseases, which has led to an increased demand for fish vaccines. Many governments are investing in the development of their aquaculture industries to increase food security and create employment opportunities. This has resulted in increased funding for research and development of new vaccines to support sustainable aquaculture practices.

"Increasing Adoption of Aquaculture to Boost the Market Growth"

There have been significant advancements in vaccine technology, leading to the development of more effective and efficient fish vaccines. This has made vaccination a more viable option for aquaculture farmers to protect their fish stocks from diseases. The aquaculture industry is growing rapidly, with increasing adoption of fish farming practices worldwide. This has led to an increased demand for vaccines to protect fish from diseases and ensure the sustainability of the industry.

RESTRAINING FACTORS

"Lack of Awareness and Regulatory Challenges to Slow the Market Growth "

The cost of fish vaccines is often high, which can limit the affordability and accessibility of vaccines for fish farmers, particularly those in developing countries. Many fish farmers may not be aware of the benefits of vaccination or may not have the necessary knowledge and skills to properly administer vaccines to their fish. This can lead to low adoption rates and a limited market for fish vaccines. The approval and regulation of fish vaccines can be a complex and time-consuming process, which can limit the number of available vaccines and slow down the introduction of new vaccines into the market. Some fish vaccines may have limited efficacy against certain diseases, which can reduce their effectiveness and limit their demand among fish farmers.

Fish Vaccine Market REGIONAL INSIGHTS

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"North American Market to Grow Exponentially with the Forecasted Period"

The global fish vaccine market is expected to grow significantly in the coming years due to the increasing demand for fish and seafood products, and the need to prevent and control diseases in fish populations. The North American region is expected to witness significant growth in the fish vaccine market due to the presence of a large number of fish farmers and aquaculture facilities. The region is also home to some of the leading fish vaccine manufacturers, such as Zoetis Inc. and Merck Animal Health.

The Asia-Pacific region is expected to witness significant growth in the fish vaccine market due to the increasing demand for fish and seafood products in countries such as China, India, and Japan. The region is also home to some of the largest aquaculture facilities in the world.

KEY INDUSTRY PLAYERS

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead in the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolio.

List of Market Players Profiled

• Zoetis (U.S.)
• Merck & Co., Inc. (U.S.)
• Tecnovax (Argentina)
• Veterquimica S.A. (Brazil)
• HIPRA (Spain)
• Anicon Labor GmbH (Germany)

REPORT COVERAGE

The market research study examines the worldwide market in detail, focusing on important elements such as leading players, product/services or type, and leading end-use applications. Aside from that, the research analyses major advancements and provides insights into lighting market trends. In addition to the causes indicated above, the paper includes a number of other factors that have contributed to recent growth.