The fish vaccine market was valued at approximately US$ 355.88 million in 2022 and is projected to grow to US$ 617.38 million by 2030, reflecting a compound annual growth rate (CAGR) of 7.1% from 2022 to 2030.
The expansion of the fish vaccine market is largely fueled by increasing governmental support aimed at enhancing the aquaculture sector, alongside a rising demand for food products derived from aquatic animals.
Innovative Fish Vaccine Development: A Growth Catalyst
The occurrence of disease outbreaks due to parasites, viruses, and bacteria has hindered the progress of the global aquaculture industry for many years. These emerging diseases not only pose risks to human health but also significantly affect aquatic life. Traditional vaccines have their limitations, which has led to a heightened demand for the creation of innovative vaccines, such as chimeric multiepitope vaccines. Recent advancements in science and technology have opened new pathways in both fundamental and applied research concerning aquatic vaccines. Efforts are underway to develop advanced aquatic vaccines that offer improved quality and efficacy through the use of novel technologies and methodologies.
With the aid of bioinformatics tools and the latest insights from immunoproteomics and genomics, researchers are now able to pinpoint potential epitopes that can be recognized by immune cells. Additionally, as the costs associated with techniques like whole genome sequencing continue to decrease, the potential for developing species-specific vaccines becomes more feasible. This trend is likely to attract more investments into the development of new vaccines. For instance, in 2021, the Central Institute of Brackishwater Aquaculture (ICAR) in India introduced a recombinant vaccine targeting viral nervous necrosis (VNN).
Consequently, the creation of effective mucosal vaccines, along with enhancements in the administration processes, is expected to expedite the development of novel vaccines, thereby supporting aquaculture enterprises in Mediterranean nations to standardize fish vaccination practices. Therefore, the advancement of innovative fish vaccines presents a significant opportunity for market growth.
Insights Based on Vaccine Type
The fish vaccine market is categorized by vaccine type into inactivated vaccines, live vaccines, subunit vaccines, recombinant vector vaccines, and others. In 2022, the inactivated vaccines segment dominated the market. However, the recombinant vector vaccine segment is projected to experience the highest CAGR of 8.6% from 2022 to 2030.
Insights Based on Application
In terms of application, the fish vaccine market is divided into bacterial, viral, and parasitic categories. The bacterial segment held the largest market share in 2022 and is also expected to achieve the highest CAGR of 7.4% during the forecast period from 2022 to 2030.
Insights Based on Route of Administration
The market is further segmented by route of administration into injected, immersion, and oral methods. The injected segment accounted for the largest share in 2022, while the immersion segment is anticipated to grow at the highest CAGR of 7.6% from 2022 to 2030.
Insights Based on Species
When categorized by species, the fish vaccine market includes segments for salmon, trout, tilapia, and others. The salmon segment was the largest in terms of market share in 2022, whereas the 'others' segment is expected to see the highest CAGR of 7.8% during the forecast period from 2022 to 2030.
Key players in the global fish vaccine market include 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.
Market Segmentation Overview
The global fish vaccine market is segmented based on vaccine type, application, route of administration, and species. The vaccine type categories include inactivated vaccines, live vaccines, subunit vaccines, recombinant vector vaccines, and others. Applications are classified into bacterial, viral, and parasitic. The routes of administration are divided into injected, immersion, and oral methods. Species segmentation includes salmon, trout, tilapia, and others. Geographically, the market is segmented into North America (including the US, Canada, and Mexico), Europe (covering the UK, Germany, France, Italy, Spain, and the rest of Europe), Asia Pacific (including China, Japan, India, South Korea, Australia, and the rest of Asia Pacific), the Middle East & Africa (comprising the UAE, Saudi Arabia, South Africa, and the rest of the region), and South & Central America (including Brazil, Argentina, and the rest of the region).
Several primary and secondary sources were consulted in the preparation of this report on the fish vaccine market, including the OECD/FAO, the US Department of Agriculture (USDA), the World Bank, the National Oceanic and Atmospheric Administration, Fisheries and Oceans Canada (DFO), the Department of Business and Trade (UK), the National Fisheries Development Board (NFDB), and the Department of Agriculture, Fisheries and Forestry of Australia.