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Commercial Aquaculture Vaccines Market

Growing Investments in Novel Biologics will propel the overall Market for Commercial Aquaculture Vaccines

Commercial Aquaculture Vaccines Market Segmented By DNA, Subunit, Attenuated, Inactivated Vaccines

Commercial Aquaculture Vaccines Market Outlook (2023-2033)

The global revenue from the commercial aquaculture vaccines market stands at US$ 265.0 Mn in 2022, with the global market expected to grow at a CAGR of 7.9% to a valuation of approximately US$ 605.5 Mn by the end of 2033.

Commercial Aquaculture Vaccines Market Size (2022)

US$ 265.0 Mn

Projected Market Value (2033)

US$ 605.5 Mn

Global Market Growth Rate (2023-2033)

7.9% CAGR

Market Share of Top 5 Countries

53.5%

As assessed by Persistence Market Research, inactivated vaccines are expected to hold a market value of around US$ 416.2 Mn by 2033. Overall, commercial aquaculture vaccines market sales account for approximately 2.2% revenue share in the global veterinary vaccines market, which was valued at around US$ 11.8 Bn in 2022.

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Sales Analysis of Commercial Aquaculture Vaccines Market from 2015 to 2022 Vs Market Outlook for 2023 to 2033

The global market for commercial aquaculture vaccines recorded a historic CAGR of 6.1% in the last 7 years from 2015 to 2022.

The demand for aquaculture vaccinations is rising, especially in tropical and subtropical areas, according to the veterinary healthcare sector. The demand for vaccinations is rising as a result of the emergence of resistance to certain antibiotics and chemotherapeutic drugs.

Scientists have remarked that the development of third-generation DNA vaccines against antibiotics could be very beneficial in this area. According to scientific research, these vaccinations are safe and more stable than live, attenuated, and killed vaccines.

An emerging trend is the demand for insurance in developed markets. An insurance policy that would later pay for the costs of a more expensive disease or accident that might arise can be compared to an aquaculture vaccination programme.

The development of new sales channels for vaccines, medications, and other veterinary healthcare services is facilitated by the introduction of these third-party payers, which also benefit the aquaculture industry globally.

For instance, the Food and Agriculture Organization of the United Nations reports that roughly 83 percent of fishermen get insurance for their boats. For the benefit of the fishermen, the organisation formed the Caribbean Fisheries Risk Insurance Facility (CFRIF).

Moreover, due to the low number of highly experienced workers, the high handling stress, the possibility of post-vaccination infections, and local reaction, the manual vaccination method brought about a number of negative impacts at a high cost. Small fish producers are unable to use the manual vaccination procedure since it is ineffective for small fish.

The market for commercial aquaculture vaccines is thus expected to grow as a result of the need for automated technologies, which aims to eliminate these constraints and the growing adverse effects associated with manual vaccinations.

For instance, the automated Incubot 2 mobile platform being developed by Aqalife would provide automated immunisation to smaller fish farms.

The global market is thus likely to show high growth over the coming years at a CAGR of 7.9% and reach a global market size of US$ 605.5 Mn by 2033.

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How Can Commercial Aquaculture Vaccines Market Grow?

Increasing R&D and Development of Novel Vaccines

Leading aquaculture vaccine producers have a unique opportunity because to rising R&D spending to increase their market share in developing regions like Africa and Latin America.

As localised aquaculture farmers increase their interest in and awareness of sustainable aquaculture farming through adoption of scientific procedures like vaccinations, the Latin American market is anticipated to offer profitable opportunities in the future.

The development of commercial, highly stable vaccines with high efficiency and potency versions, along with other incremental innovations, are projected to open up new prospects for the leading competitors in the global market for commercial aquaculture vaccines.

In high-income economies like the U.K. and U.S., where there is an emphasis on innovation to prevent and treat zoonotic diseases together with biotechnology breakthroughs, it is anticipated that a suitable environment will be created for the development of commercial aquaculture vaccines.

Among the developments are systems biology, synthetic biology, and next-generation sequencing. Additionally, ongoing expenditures in multidisciplinary vaccine research could accelerate the commercialization time for emerging commercial aquaculture vaccines and increase the efficiency of vaccine development.

These factors cumulatively propel the demand for the overall commercial aquaculture vaccines market over the forecast period.

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Can the Commercial Aquaculture Vaccines Market Growth Be Affected in Any Way?

Regulatory Inhibitions and High Commercialization Cost

When many animal healthcare firms promote their vaccines overseas, there are complications with respect to regulatory approval.

The regulating bodies and procedures differ from nation to nation, while many adhere to the laws of powerful nations with their own approval processes, such as the US FDA. In such cases, a provider is not permitted to launch new or improved products or services before obtaining the necessary approvals.

Companies must wait for regulatory approvals before starting product distribution. Evidently, the expense of fragmented product distribution is so high that a service provider must wait years to get all necessary regulatory licences. Such circumstances impede the market for commercial aquaculture vaccines from expanding.

The commercialization of aquaculture production is expected to incur significant vaccination costs, which are anticipated to restrain the expansion of the global market.

Current developments in vaccines and vaccinology provide worthwhile opportunities by making complex formulations that demand high manufacturing costs for the production of aquaculture vaccines.

As an instance, Clynav, a DNA vaccine used to treat Parkinson's disease, is twice as expensive as another PD vaccine and costs around 0.47 US dollars each dosage.

Additionally, due to expensive vaccination processes and the availability of affordable alternatives, Asian countries primarily avoid vaccinating fish, thus restraining the growth of the overall market during the forecast period.

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Country-wise Insights

Why is the U.S. Market Booming?

“Growing innovations in Zoonotic Disease Prevention”

The U.S. accounted for around 78.4% market share in the North America market in 2022, and a similar trend is expected over the forecast period. Innovations in zoonotic disease prevention and treatment, as well as advances in biotechnology, are given specific focus. This factor is predicted to create a favourable environment for the development of commercial aquaculture vaccines in high-income economies such as the United States, supporting the segment's growth over the forecast period.

Will Norway Be a Lucrative Market for Commercial Aquaculture Vaccines Service Providers?

“Elimination of Administration of Antibiotics in Salmon”

Norway held around 52.3% market share of the Europe market in 2022. Norway is the biggest producer of Atlantic salmon, with production predicted to reach 1.3 million metric tonnes (MT) in 2019. The country has almost eliminated the use of antibiotics in salmon, one of the main meals consumed there and a significant export. As a result, an industry is thriving and the likelihood of antibiotic resistance in humans has decreased, thus driving Norway to be a lucrative country in terms of sales, within the global market, during the forecasted years.

How is Japan Emerging as a Prominent Market for Commercial Aquaculture Vaccines Services?

“High Volumes of Fish Commercialization and Development of Novel Vaccines”

Japan held the largest market share of about 66.5% of the East Asia market in 2022. For the sustainable fish production in Japan, aquaculture is a significant business. Infectious illnesses have become an unavoidable hazard in Japan's contemporary aquaculture industry and have resulted in significant financial losses. To boost aquaculture productivity, it is imperative to find a solution to the disease problem.

Despite the fact that the nation has developed a number of efficient vaccinations against fish pathogens that have helped to prevent sickness on fish farms, infectious diseases that cannot be treated by conventional inactivated vaccines continue to be a problem. As a result, methods other than using inactivated vaccines to develop successful vaccines are needed, and this is driving Japan to become an emerging market segment in terms of growth during the forecast period.

Category-wise Insights

Which Vaccine is Driving Growth of the Global Market?

“Greater Efficacy of Vaccines and Ease of Consumption of Aquatic Species”

The inactivated vaccines segment held around 72.0% share of the global market in 2022. Traditional fish vaccination methods involve inactivated pathogens that are produced by the replication or proliferation of pathogenic microorganisms. By killing the harmful bacterium without damaging the immune system, formalin can be used to inactivate these pathogenic microbes.

Inactivated vaccines, which consist of viruses for whom the genetic makeup has been damaged by heat, chemicals, or radiation so that they cannot infect cells or replicate but can still elicit an immune response, enabling aquatic creatures to be consumed safely.

Which Pathogen is Largely in Focus for the Manufacturing of Commercial Aquaculture Vaccines Globally?

“Affordability, Efficacy, and Reduction in the Degree of Species Mortality”

The bacteria segment holds a market share of around 71.9% in 2022. Use of bacterial fish vaccines in aquaculture is a potent technique that has been shown to offer a quick, simple, and affordable preventive treatment to fish diseases. Vaccines are known to enhance fish health, limit disease outbreaks, and give long-lasting protection against diseases while leaving no hazardous residues in the product or environment, in in addition to decreasing antibiotic dependency as well as the degree of losses incurred due to illnesses.

Which Segment Holds a Greater Share in Terms of Species for Commercial Aquaculture Vaccines?

“Greater Returns on Salmon Farming”

Salmon species holds a share of around 41.3% in the global market, in 2022. Salmon farming has been successful in part because of vaccination, which is crucial to large-scale commercial fish farming. Fish vaccines have been the subject of extensive study by pharmaceutical corporations, although there is little material available in peer-reviewed scholarly journals.

In addition, although making up a very small portion of the world's overall fish production, salmonids predominate in both the literature and the commercial focus. Additionally, Norway, Chile, the UK, and Canada are the major producers of this fish, which is among the most intensively farmed in the world.

Which Route of Administration for Commercial Aquaculture Vaccines Holds a Greater Share within the Global Market?

“Efficient Immune Response Intraperitoneally”

Intraperitoneal route of administration held a share of around 62.9% in the global market, in 2022. Since several intraperitoneally delivered fish vaccines can impart strong and long-lasting immune responses, intraperitoneal (IP) injection appears to be the most efficient immunisation approach in aquaculture. Salmonid farms have had success using commercial vaccines with IP injections of oil adjuvant.

A robust immune response at both the humoral and cellular levels is accompanied by an IP injection vaccine, which, in comparison to other vaccination methods, causes rapid changes in the peritoneal cavity's cellular composition and an increase in the quantity of macrophages, neutrophils, and other immune cells.

Which End User Offers the Commercial Aquaculture Vaccines Market a Profitable Outlook?

“Large Growth Potential for Fish Farming Companies”

Fish farming companies hold a larger share of about 83.0% with a market value of around US$ 219.9 Mn in 2022. There are fish farming businesses registered on the stock exchange in Greece and Norway, and these businesses can use the stock exchange to raise equity and credit in forms of bonds.

However, fish farming is often thought to have a high-risk element and be challenging to finance. Despite this, it is considered that fish farming has a promising future and that financing will become simpler as the sector develops and matures. This segment thus holds a greater share within the global market.

Competition Landscape

Top businesses are concentrating on growing acquisitions at regional levels due to the market's consolidation. In numerous emerging regions, this trend is evident.

Players with substantial regional distribution footprint in terms of direct sales force and nearby GMP-certified production facilities supported by skilled personnel predominate in the acquisition space.

For instance:

  • As a strategic extension of its PharmaQ business, Zoetis purchased Fish Vet Group from Benchmark Holdings, PLC in July 2020. The Fish Vet Company develops and distributes fish vaccines and offers immunisation and diagnostic services for aquaculture.
  • With the development and production of a COVID-19 vaccine in December 2020, HIPRA took a significant step in the direction of improving human health. Salvador Illa, the Spanish Minister of Health, visited HIPRA and emphasised the innovative capabilities of the pharmaceutical firm for addressing this new stage.

Commercial Aquaculture Vaccines Industry Report Scope

Attribute

Details

Forecast Period

2023-2033

Historical Data Available for

2015-2022

Market Analysis

USD Million for Value

Key Countries Covered

  • U.S.
  • Canada
  • Brazil
  • Argentina
  • Mexico
  • Germany
  • France
  • U.K.
  • Italy
  • Spain
  • Russia
  • BENELUX
  • India
  • Thailand
  • Malaysia
  • Indonesia
  • China
  • Japan
  • South Korea
  • Australia
  • New Zealand
  • Turkey
  • GCC
  • North Africa
  • South Africa

Key Market Segments Covered

  • Vaccines
  • Pathogen
  • Species
  • Route of Administration
  • End User
  • Region

Report Coverage

  • Market Forecast
  • Competition Intelligence
  • DROT Analysis
  • Market Dynamics and Challenges
  • Strategic Growth Initiatives

Customization & Pricing

Available upon Request

Key Segments Covered in Commercial Aquaculture Vaccines Industry Research

Vaccine:

  • Inactivated
  • Attenuated
  • Subunit
  • DNA

Pathogen:

  • Bacteria
  • Virus

Species:

  • Salmon
  • Tilapia
  • Trout
  • Sea Bass
  • Carp
  • Turbot
  • Bream
  • Others

Route of Administration:

  • Intraperitoneal
  • Intramuscular
  • Immersion
  • Oral

End User:

  • Fish Farming Companies
  • Fish Veterinary Clinics
  • Aquatic Research Institute

Region:

  • North America
  • Latin America
  • Europe
  • South Asia
  • East Asia
  • Oceania
  • Middle East & Africa

- Companies Covered in This Report -

  • Zoetis Inc.
  • Merck & Co. Inc. (MSD Animal Health/Intervet International B.V.)
  • HIPRA
  • Elanco Animal Health Inc.
  • Veterquimica SA
  • Ictyogroup
  • Tecnovax
  • Nisseiken Co., Ltd.

- Frequently Asked Questions -

The global market is currently valued at around US$ 265.0 Mn in 2022.

Sales of commercial aquaculture vaccines market are set to witness a high growth at a CAGR of 7.9% and be valued at around US$ 605.5 Mn by 2033.

Demand for commercial aquaculture vaccines market increased at a 6.1% CAGR from 2015 to 2022.

Norway, U.S., Chile, Japan, and Brazil account for most demand for commercial aquaculture vaccines, currently holding around 53.5% market share.

The U.S. accounts for around 78.4% share of the North American market in 2022.

Latin America accounts for around 20.1% share of the global market in 2022.

Japan held the largest market share of about 66.5% of the East Asia market in 2022.

Germany market is set to expand at a 10.6% CAGR over the forecast period.

Brazil market is expected to grow at a 8.6% CAGR during the forecast period.

Indian market for commercial aquaculture vaccines is set to expand at a 7.0% CAGR over the forecast period.

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