Aquaculture Vaccines Market Research Report and Outlook by 2028

The aquaculture vaccines market was valued at approximately US$ 245.13 million in 2021 and is projected to grow to US$ 569.72 million by 2028, reflecting a compound annual growth rate (CAGR) of 12.9% from 2022 to 2028.

This growth can be attributed to the expanding aquaculture sector and the increasing demand for food products derived from aquatic animals. Nevertheless, the market faces challenges due to stringent regulatory requirements for vaccine approval and the high costs associated with vaccine development and production.

The rising demand for aquatic food products, including oil, caviar, protein powders, and various types of fish meat, is driving farmers to adopt vaccination practices in aquaculture to enhance profitability. Consumers are becoming increasingly aware of the nutritional benefits of animal protein, leading to a surge in demand for healthy, sustainable, and high-quality meat products that are free from or contain minimal drug residues.

Regular consumption of fish is widely endorsed as part of a balanced diet. Fish typically contain higher protein levels compared to meat from land animals and exhibit a lower feed conversion ratio (FCR), allowing for more efficient protein production. Additionally, fish protein is easily digestible and rich in essential amino acids, which are often lacking in other animal proteins. Eating fish and shellfish has been linked to a reduced risk of heart disease, inflammation, and arthritis. The health advantages of fish consumption are primarily associated with the presence of long-chain omega-3 (n-3) polyunsaturated fatty acids (PUFAs). Furthermore, fish protein is a significant source of bioactive peptides, which can provide numerous health benefits when consumed in adequate amounts and are bioavailable in the human body. These benefits include blood pressure regulation through the inhibition of enzymes in the renin-angiotensin-aldosterone system (RAAS), support for bone health, anti-inflammatory effects (due to antioxidant peptides), and improvements in mental health through the action of opioid peptides and platelet-activating factor acetyl-hydrolase inhibitory (PAF-AH) peptides, among other bioactivities. Consequently, the demand for healthy breeding practices in aquatic animals is on the rise, further driving the need for aquaculture vaccines.

Innovations in Vaccine Development to Propel Future Market Growth

In recent years, the aquaculture sector has experienced significant economic advancements. Scientific progress has opened new pathways in both fundamental and applied research, leading to the creation of innovative and effective vaccines, as well as enhancements to existing vaccines targeting various infectious diseases. Recent strides in vaccine technology aim to identify new candidates to address fish pathogens, including mycotic and parasitic agents, for which effective vaccines are still in development.

• On April 27, 2021, the Indian Council of Agricultural Research (ICAR) introduced CIBA-Nodavac-R, a vaccine designed to combat Viral Nervous Necrosis (VNN), which poses a severe threat to marine, brackish, and freshwater fish, resulting in mortality rates of up to 100% in larval and juvenile stages. The Red-spotted Grouper Nervous Necrosis Virus (RGNNV) is the predominant genotype found in India and many tropical regions, with the disease being transmitted both vertically and horizontally. CIBA-Nodavac-R is an injectable recombinant vaccine that effectively prevents VNN caused by RGNNV in fingerlings and curtails vertical transmission in broodstock.
• In January 2022, Benchmark Animal Health and Cermaq Group AS secured US$ 0.43 million from the Research Council of Norway to support a collaborative initiative aimed at developing a vaccine against salmon diseases caused by Tenacibaculum bacteria.
• In October 2021, a professor from Sylhet Agricultural University (SAU) in Bangladesh developed an oral vaccine for fish that protects various species from bacterial infections and enhances their production. This vaccine can be administered by mixing it with the fish feed.

As a result, the emergence of novel vaccine technologies is anticipated to significantly enhance the aquaculture vaccine market throughout the forecast period.

Insights Based on Vaccine Type

The aquaculture vaccines market is categorized by vaccine type into live vaccines, inactivated vaccines, and other types. In 2021, the inactivated vaccines segment held the largest market share, while the live vaccines segment is expected to experience the fastest growth rate during the forecast period.

Insights Based on Species

The market is also segmented by species, including tilapia, trout, salmon, shrimp, and others. The salmon segment represented the largest market share in 2021 and is projected to achieve the highest CAGR of 13.4% during the forecast period.

Insights Based on Route of Administration

Regarding the route of administration, the aquaculture vaccines market is divided into injection, immersion, and oral methods. The injection segment accounted for the largest market share in 2021 and is expected to grow at the highest CAGR of 13.1% during the forecast period.

Key sources of information for this report on the aquaculture vaccines market include the World Health Organization (WHO), the Aquaculture Research & Development journal, the Organization for Economic Cooperation and Development (OECD), the Government of Canada, Statistisches Bundesamt (Destatis), the Chinese Academy of Engineering, the Norwegian Seafood Council, the U.S. Department of Agriculture (USDA), data from the Indonesian Ministry, Vietnam's Ministry of Agriculture and Rural Development (MARD), World Bank data, and the Chilean Salmon Council.