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Description
Aquaculture Vaccines Market size was valued at USD 371.8 million in 2021 and is expected to grow at a CAGR of 9.6% from 2022-2028. Due to surge in the of prevalence of bacterial and viral infections among aquaculture species, increase in aquaculture production around the globe, and rise in adoption of vaccines by aquaculture farmers. Development and launch of innovative vaccines to treat various infectious diseases in aquaculture species boosting the revenue growth of the market. For instance, In March 2018, Hipra launched Icthiovac VR/PD injectable vaccine for seabass against Vibriosis and Pasteurellosis in Greece. Apart from the aforementioned dynamics, Raise in funding for the research and development of innovative aquaculture vaccines boost the market over forecast years. For instance, In March 2015, The Scottish Aquaculture Innovation Center (SAIC) has announced it is issuing grants worth almost GBP 950,000 to two major salmon farming research projects proposed by leading farmed salmon companies on sea lice and salmon vaccinations. This report studies give market dynamics elaborately to identify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, this report includes aquaculture production and competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed the fish vaccines market to better equip clients with possible investment opportunities across the regions (regional Investment Hot-Spots) and market unmet needs (Product Opportunities). Key stakeholders of the global vaccines market report include suppliers, manufacturers, marketers, policy makers, and aquaculture service providers engaged in global aquaculture vaccines products usage and advocacy.
Key Development:
For instance, in April 2021, CIBA launched Nodavac-R, an injectable recombinant viral nervous necrosis (VNN) vaccine that can effectively prevent VNN caused by RGNNV in fingerlings and prevent vertical transmission in brooders. All fish species, including milkfish, grey mullet, and mangrove red snapper susceptible to VNN, can use the Nodavac-R. CIBA is also developing an oral vaccine that can administer through feed and immersion.
In November 2019, MSD Animal Health launched the AQUAVAC® Strep Sa-Si injectable and dip immersion vaccine against Streptococcis in tilapia fish in Latin America.
