The fish vaccine market size was valued at US$ 355.88 Mn in 2022 and is expected to reach US$ 617.38 Mn by 2030; it is estimated to record a CAGR of 7.1% from 2022 to 2030.
The fish vaccine market growth is primarily driven by the increasing government initiatives to develop aquaculture industry and surging demand for aquatic animal-derived food products
Development of Novel Fish Vaccine Opportunity for Growth of Fish Vaccine Market
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
Vaccine Type-Based Insights
The fish vaccine market, by vaccine type, is segmented into inactivated vaccines, live vaccines, subunit vaccines, recombinant vector vaccine, and others. The inactivated vaccines segment held the largest share in fish vaccine market in 2022. However, recombinant vector vaccine segment is anticipated to register the highest CAGR of 8.6% during 2022-2030.
Application-Based Insights
The fish vaccine market, by application, is segmented into bacterial, viral, and parasitic. The bacterial segment held the largest market share in 2022 and the same segment is anticipated to register the highest CAGR of 7.4% during 2022-2030.
Route of Administration -Based Insights
The fish vaccine market, by route of administration, is segmented into injected, immersion, and oral. The injected segment held the largest share in fish vaccine market share in 2022. However, immersion segment is anticipated to register a highest CAGR of 7.6% during 2022-2030.
Species-Based Insights
The fish vaccine market, by species, is segment into salmon, trout, tilapia, and others. The salmon segment held the largest market share in 2022 whereas, others segment is anticipated to register the highest CAGR of 7.8% during 2022-2030
Cole Instruments Inc, Vision Medical Inc, Bernstein Medical PC, Curallux LLC, HairMax Inc, NovaGenix LLC, Apira Science Inc, Theradome Inc, Robotics Restoration Inc, and LaserCap Co are among the key players operating in the global fish vaccine market.
The report segments the global fish vaccine market as follows:
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 the application, the fish vaccine market is segmented into bacterial, viral, and parasitic. Based on the 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).
A few of the major primary and secondary sources referred to while preparing the report on the fish vaccine market are the OECD/FAO, US Department of Agriculture (USDA), World Bank, the National Oceanic and Atmospheric Administration, Fisheries and Oceans Canada (DFO), Department of Business and Trade (UK), National Fisheries Development Board (NFDB), Department of Agriculture, Fisheries and Forestry of Australia