Salmon Segment to Lead Global Aquaculture Vaccines Market During 2021-2028

According to our latest study on "Aquaculture Vaccines Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Type of Vaccine, Species, and Route of Administration," the market is projected to reach US$ 569.72 million by 2028 from US$ 245.13 million in 2021; it is estimated to grow at a CAGR of 12.9% from 2022 to 2028. The report highlights the key factors driving and restraining the market growth, prominent players with their developments in the market, and trends prevailing in the market.

In aquaculture practices, there is always a chance of pathogenic outbreaks, which affects the farm production. Aquaculture vaccines are used to protect fishes from any pathogen. Vaccination is a simple, reliable, and preventative technique of disease control for aquaculture. The growing aquaculture industry and surging demand for aquatic animal-derived food products drive the market growth. However, strict regulatory policies for the approval of vaccines and the high cost of vaccines hamper the growth of the market.

Based on species, the global aquaculture vaccines market is segmented into tilapia, trout, salmon, shrimps, and others. The salmon segment held the largest market share in 2021 and is anticipated to register the highest CAGR in the market during the forecast period. Salmon farming has grown enormously over the past decades. Key to this is an excellent level of health control and the availability of safe and effective products for the prevention and control of diseases.

Below mentioned are a few key products related to salmon health:

- AQUAVAC IPN Oral: Oral vaccine to prevent Infectious pancreatic necrosis (IPN) virus disease in salmon

- NORVAX Compact PD: Inactivated vaccine against Salmonid Alphavirus (SAV) for intraperitoneal injection in Atlantic salmon (Salmo salar).

- NORVAX Minova 6: Inactivated, multivalent vaccine against furunculosis, classical vibriosis, cold-water vibriosis, wound disease, and infectious pancreatic necrosis (IPN) for intraperitoneal injection in Atlantic salmon.

Impact of COVID-19 Pandemic on Global Aquaculture Vaccines Market

The COVID-19 pandemic adversely impacted the aquaculture value chains and the aquaculture vaccines market. During the pandemic, various measures were enforced to contain the virus infection spread that significantly impacted food production systems, including aquaculture, and logistic systems. The Chinese government adopted various measures to effectively reduce the impact on the aquaculture sector. Guangdong Province and Hubei Province are among the most important aquaculture areas in the country. Hubei Province was the focus of the outbreak in the initial period, and the pandemic most struck Guangdong Province. The lockdown measures enforced during that time significantly impacted these two subsectors, and as Tilapia and channel catfish in these Provinces are important aquaculture commodities, their sale and demand were also affected. Moreover, weak market demand for farmed aquatic products, sluggish sale of fishes, interrupted transportation of fresh and live fish products, and the loss of capital for some farmers and companies are among the challenges faced by the people in the aquaculture sector at global level. According to data by Global Food Security Volume 29, before COVID-19 pandemic, 80% of the households surveyed bought fish from wet markets. This number dropped to 45% during the pandemic.

To overcome this, the government in the MEA has dedicated specific trips through national carriers to fish-producing nations, such as Turkey and Greece, to import seafood. Also, another initiative was taken to develop online sales of fish and home delivery to consumers. Thus, the effects of these measures aid in mitigating the impact of the pandemic and will help the post-pandemic recovery of the aquaculture vaccines market.

AquaTactics Fish Health, HIPRA SA, Merck & Co Inc, Microsynbiotix Ltd, Indian Immunologicals Ltd, Nisseiken Co Ltd, Zoetis Inc, VETERQUIMICA SA, Phibro Animal Health Corp, and Elanco Animal Health Inc., Tecnovax SA are among the leading companies operating in the global aquaculture vaccines market.

The report segments the global aquaculture vaccines market as follows:

The aquaculture vaccines market is segmented on the basis of type of vaccine, species, route of administration, and geography. Based on type of vaccine, the market is segmented into live vaccines, inactivated vaccines, and other vaccines. Based on species, the market is segmented into tilapia, trout, salmon, shrimps, and others. By route of administration, the aquaculture vaccines market is segmented into injection vaccines, immersions vaccines, and oral vaccines. Based on geography, the market is segmented into North America (the US, Canada, and Mexico), Europe (France, Germany, the UK, Spain, Italy, Norway, Egypt, and the Rest of Europe), APAC (China, India, Japan, Australia, South Korea, Indonesia, New Zealand, and the Rest of APAC), the Middle East & Africa (Saudi Arabia, the UAE, South Africa, and the Rest of MEA), and South & Central America (Brazil, Argentina, Chile, and the Rest of SCAM).

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