Aquaculture Vaccines Market: Global Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2012-2016 and Forecast 2017-2023
Aquaculture Vaccines Market: Aquaculture is defined as the rearing, breeding, and harvesting of aquatic organisms such as animals and plants present in the rivers, lakes, ponds, and oceans, major marine species are fish, plants, and shellfish. The major challenge in the fish production process is the development and presence of various diseases which can be prevented by using different types of vaccines. Vaccination to the fishes may help to reduce the use of antibiotics, which lead to increase in the fish production. Different types of vaccines available in the aquaculture vaccines market for the treatment of various diseases caused by bacterial, fungal, and viral infections.
Global aquaculture vaccines market is growing at a significant CAGR due to increase in the aquaculture farming. Increase in the water pollution, rise in the funding from government for the aquaculture development, and increase in the research and development activities regarding aquaculture vaccines by various research institutes are anticipated fuel the aquaculture vaccines market over the forecast period. Moreover, increase in the prevalence of various bacterial and viral infections in the fishes, rise in the awareness regarding vaccination, and innovation of new vaccines for the prevention of various aquatic diseases expected to bolster the aquaculture vaccines market across the globe. However, stringent regulatory policies for the vaccines approval, complexity for the storage of vaccines, high cost of the vaccines, local allergic reactions associated with the vaccines, and less information available regarding the vaccines usage might hamper the growth of aquaculture vaccines market over the forecast period.
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Aquaculture vaccines market is segmented on the basis of vaccine type, application, species type, and route of administration
Based on the vaccine type, aquaculture vaccines market is segmented into the following:
- Inactivated vaccine
- Inactivated virus or bacterial antigens
- Sub-unit vaccines
- Recombinant vaccines
- Live vaccines
- Attenuated live vaccines
- Gene deleted live vaccines
- DNA vaccines
Based on the application, aquaculture vaccines market is segmented into the following:
- Bacterial infections
- Viral infections
- Fungal infections
- Parasitic infections
Based on the species type, aquaculture vaccines market is segmented into the following:
- Sea bream
Based on the route of administration, aquaculture vaccines market is segmented into the following:
- Immersion vaccination
- Injection vaccination
- Oral vaccination
- Spray vaccination
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Global aquaculture vaccines market is in developing stage, several local and international players are actively involved in the development of aquaculture vaccines to increase their share in the aquaculture vaccines market. Increase in the aquatic farming expected to fuel the aquaculture vaccines market. According to FAO, in 2011, approximately 83.7 Mn tonnes of aquatic products were produced. Acquisitions & mergers, collaborations, launching new products, and increase in the research and development activities are some key strategies adopted by various companies in the aquaculture vaccines market. For instance, in 2015, Zoetis Inc. acquired PharmaQ for the development of aquaculture vaccines to increase company’s share in global aquaculture vaccines market. Similarly, in April 2008, 7 India and 5 Norway institutions were collaborated for the development of aquaculture vaccines to treat various viral infections. In addition, in February 2014, Benchmark Holdings strengthened the product portfolio by acquiring the assets of Zoetis aquaculture vaccines. Various pipeline products under the clinical trials expected to fuel the aquaculture vaccines market over the forecast period.
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Geographically aquaculture vaccines market is segmented into following regions Viz. North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Europe holds the dominant share in global aquaculture vaccines market, which is attributed to the highest salmon production (according to FAO, over 1 Mn tonnes were produced in 2015) in the Norway. Increase in the awareness regarding aquaculture vaccination, rise in the prevalence of infectious diseases, and increase in the aquaculture production in other Europe countries such as Ireland and U.K expected to fuel the aquaculture vaccines market over the forecast period. Asia Pacific is a key region for global aquaculture vaccines market owing to increase in the production of aquatic products in China, Vietnam, Bangladesh, India, and Thailand and growing research and development activities for aquaculture vaccines in Asia Pacific region also bolster the aquaculture vaccines market over the forecast period.
Some of the players in the aquaculture vaccines market are zoetis (Pfizer Inc.) (U.S.), Benchmark Holdings Plc. (U.K.), Ridgeway Biologicals Ltd. (U.K.), Virbac (France), Vaccibody AS (Bio-Medisinsk Innovasjon AS) (Norway), Merck & Co. Inc. (U.S.), and Bayer Animal Health (Germany) to name a few.
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