Fish vaccine market

Q: Which are the prominent regions in the market?

North America is the prominent region in the market. Read more

Fish Vaccine Market, By Vaccine Type (Killed Vaccine, Inactivated Vaccine, Attenuated Vaccine, Toxoid Vaccine, Subunit Vaccine, Conjugate Vaccine, Recombinant Vector Vaccines), By Indication (Furunculosis, Vibriosis, Yersiniosis, Enteric septicaemia, Others), By Route of Administration (Injection, Immersion, Spray, Oral) - Size, Share, Outlook, and Opportunity Analysis, 2022 - 2030

Request Free Sample

Aug 2022
CMI5184
177 Pages
Excel & Pdf
Biotechnology

Summary

Fish Vaccination describes the method of inducing defense mechanisms in fish against pathogenic bacteria by exposing them to non-pathogenic forms or microbe components.

The three main ways to administer vaccines are orally, subcutaneously, and intravenously. However, as vaccination is a preventative approach rather than a treatment, only healthy fish should ever be given the shot. The most common fish vaccine types include bacterins, live attenuated, subunit vaccines, and toxoids.

Global Fish Vaccine Market - Impact of the Coronavirus (COVID-19) Pandemic

Coronavirus (COVID-19) outbreak was first reported on December 31, 2019, in Wuhan, China. The World Health Organization declared COVID-19 a pandemic on March 11, 2020. According to the Coronavirus (COVID-19) Dashboard by the World Health Organization, over 572 million cases and 6.39 million deaths due to coronavirus disease (COVID-19) were reported till July 29, 2022, across the globe.

Impact of COVID-19 on Demand and Supply of Fish Vaccine

The COVID-19 pandemic and consequent lockdown in various countries across the globe have impacted the financial status of businesses across all sectors including the private healthcare sector. The COVID-19 pandemic has impacted the entire supply chain of the healthcare industry mainly due to strict lockdown in several regions. The COVID-19 pandemic has affected the economy of various regions across the globe in three main ways; by directly affecting the production and demand of healthcare products; by creating disruptions in distribution channels; and by affecting companies and various markets financially. Several countries such as Thailand, Indonesia, and Singapore are facing problems with regard to the transportation and distribution of healthcare products.

According to a study published by ScienceDirect in September 2021, the aquaculture and fisheries sector especially in developing countries such as Bangladesh is believed to have been severely affected by the COVID-19. The study included online questionnaire surveys, face-to-face and telephonic interviews, and focus group discussions during June to November 2020. The study revealed some positive impacts on ecosystem and fish stock (e.g., increase in fish stock) due to less disturbance of fishing activities, but have not brought any benefit to fishermen as the fisheries sub-sectors are affected differently by the pandemic. There are disrupted transportation systems and increased transportation costs (around 20 – 60% higher than normal), more input and maintenance costs, and less demand for/and decreased market price of fish.

Fish Vaccine Market Report Coverage

Report Coverage	Details
Base Year:	2021	Market Size in 2022:	US$ 249.20 Mn
Historical Data for:	2017 to 2020	Forecast Period:	2022 to 2030
Forecast Period 2022 to 2030 CAGR:	6.5%	2030 Value Projection:	US$ 413.41 Mn
Geographies covered:	North America: U.S. and Canada Latin America: Brazil, Argentina, Mexico, and Rest of Latin America Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific Middle East: GCC, Israel, and Rest of Middle East Africa: South Africa, North Africa, and Central Africa
Segments covered:	By Vaccine Type: Killed Vaccine, Inactivated Vaccine, Attenuated Vaccine, Toxoid Vaccine, Subunit Vaccine, Conjugate Vaccine, Recombinant Vector Vaccines By Indication: Furunculosis, Vibriosis, Yersiniosis, Enteric septicaemia, Others By Route of Administration: Injection, Immersion, Spray, Oral
Companies covered:	HIPRA, VETERQUIMICA SA, Ictyogroup, Kyoto Biken Laboratories, Inc., Vaxxinova International BV, Barramundi Group, Merck & Co., Inc., Zoetis Inc., KBNP, INC., Aqua Vet S.A., and NISSEIKEN CO., LTD
Growth Drivers:	Advantages of fish vaccination over antibiotics and the economic benefits of fish vaccines Business expansion by market players Increasing product launches or approvals of vaccines
Restraints & Challenges:	Factors causing failure in the efficiency of fish vaccination

The global fish vaccine market is estimated to be valued at US$ 249.20 Mn in 2022 and is expected to exhibit a CAGR of 6.5 % over the forecast period (2022-2030).

Figure 1: Global Fish Vaccine Market Share (%) Analysis, By Vaccine Type, 2022

Advantages of fish vaccination over antibiotics and the economic benefits of fish vaccines are expected to drive the global fish vaccine market growth over the forecast period.

The increasing use of vaccines over antibiotics by fish farmers is expected to drive the growth of the global fish vaccine market over the forecast period. For instance, according to the Vaccine Journal of Veterinary Science & Veterinary Science & Technology: (2018), the following table shows the advantages of vaccines over antibiotics in fish farming:

	Antibiotics	Vaccines
Advantages	Effective for acute bacterial infections	Greater production Long lasting prophylactic effect Healthier fish, healthier seafood Higher cost benefit ratio and greater profits Reduces use of antibiotics
Disadvantages	Reduced production of fishes Increased antibiotic resistance Increased health risk for human due to residue concerns in the fish Poorer quality of fish products No lasting prophylactic effect after stopping the treatment	No customized vaccines available for all species, diseases and region

Business Expansion by Market Players

Key players are engaged in expanding their presence in other countries, which is expected to increase their customer base. It will also aid in driving the growth of the global fish vaccine market over the forecast period. For instance, in 2018, Zoetis, Inc., a global animal health company, announced the start of the construction of a manufacturing and supply and research and development center in Suzhou, China, for the development and production of vaccines for swine, cattle, and fish that help protect against the strains of diseases prevalent in China.

Global Fish Vaccine Market - Restraint

Factors causing failure in the efficiency of fish vaccination is expected to be major restrain for the market growth.

Vaccination Failure due to Characteristics of Vaccine	Vaccination Failure due to Vaccine Reconstitution and Administration
Out-of-date vaccine is administered	Lyophilized vaccine is reconstituted with inappropriate diluent
The vaccine is stored at incorrect temperature, which leads to the loss of potency	The vaccine is administered through the different route of administration other than those required for the vaccine to be effective
The vaccine on exposure to sunlight leads to the partial inactivation	Improper distribution of aerolized vaccine among animals such as fishes
The vaccine is ineffective. Thus, it is not capable of inducing any protective immunity	Contamination of vaccine containers due to the use of unsterilized equipment
Wrong strain or serotype of pathogen is used for developing the vaccine
Death of the live vaccine

Global Fish Vaccine Market – Regional Analysis

On the basis of region, the global fish vaccine market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa.

North America is expected to exhibit lucrative growth opportunities for the fish vaccine market, owing to increasing product launches or approvals of vaccines in the region. For instance, in November 2019, MSD Animal Health, a division of Merck & Co., Inc. which is headquartered in the U.S., launched a new vaccine AQUAVAC Strep Sa-Si to protect against streptococcosis in fish. It is indicated for the active immunization of tilapia (Oreochromis sp.) and other susceptible fish species, in order to reduce mortality and disease due to streptococcosis caused by Streptococcus agalactiae (serotype Ib) and Streptococcus iniae.

Moreover, Europe fish vaccine market is expected to witness significant growth in the near future, owing to rising government initiatives for animal welfare in this region. For instance, on March 29, 2022, the European Union (EU) and European Investment Fund (EIF) entered into partnership and initiated a new US$ 539.5 million dedicated equity initiative for the blue economy and aquaculture under InvestEU at the BlueInvest days 2022 in Brussels. The BlueInvest initiative will continue beyond 2022 until 2026.

Figure 2: Global Fish Vaccine Market Value (US$ Mn), by Region, 2022

Global Fish Vaccine Market – Competitive Landscape

Major players operating in the global fish vaccine market include HIPRA, VETERQUIMICA SA, Ictyogroup, Kyoto Biken Laboratories, Inc., Vaxxinova International BV, Barramundi Group, Merck & Co., Inc., Zoetis Inc., KBNP, INC., Aqua Vet S.A., and NISSEIKEN CO., LTD.

Table of Content

Table of Contents

*Key pointers provided are also applicable to other companies covered in the scope of the report.

Section
- Research Methodology
- About us
- Contact

*Browse 33 market data tables and 39 figures on “Fish Vaccine Market” - Global Forecast to 2030.

Segmentation

Detailed Segmentation:

- Middle East
  - By Vaccine Type:
    - Killed Vaccine
    - Inactivated Vaccine
    - Attenuated Vaccine
    - Toxoid Vaccine
    - Subunit Vaccine
    - Conjugate Vaccine
    - Recombinant Vector Vaccines
  - By Indication:
    - Furunculosis
    - Vibriosis
    - Yersiniosis
    - Enteric septicaemia
    - Others
  - By Route of Administration:
    - Injection
    - Immersion
    - Spray
    - Oral
  - By Country:
    - GCC
    - Israel
    - Rest of Middle East
- Africa
  - By Vaccine Type:
    - Killed Vaccine
    - Inactivated Vaccine
    - Attenuated Vaccine
    - Toxoid Vaccine
    - Subunit Vaccine
    - Conjugate Vaccine
    - Recombinant Vector Vaccines
  - By Indication:
    - Furunculosis
    - Vibriosis
    - Yersiniosis
    - Enteric septicaemia
    - Others
  - By Route of Administration:
    - Injection
    - Immersion
    - Spray
    - Oral
  - By Country/Region:
    - South Africa
    - Central Africa
    - North Africa

- Frequently Asked Questions -

What will be the compound annual growth rate (CAGR) of the global fish vaccine market during the forecast period (2022-2030)?

Global fish vaccine market is expected to exhibit a CAGR of 6.5% during the forecast period (2022-2030).

What is the estimated market size of the market in 2022?

The market is estimated to be valued at US$ 249.20 Mn in 2022.

Which are the prominent players operating in the market across the globe?

HIPRA, VETERQUIMICA SA, Ictyogroup, Kyoto Biken Laboratories, Inc., Vaxxinova International BV, Barramundi Group, Merck & Co., Inc., Zoetis Inc., KBNP, INC., Aqua Vet S.A., and NISSEIKEN CO., LTD are some of the prominent players operating in the market.

What are the growth estimates for the market till 2030?

The market is expected to be valued at US$ 413.41 Mn in 2030.

Which are the prominent regions in the market?

North America is the prominent region in the market.

What are the key factors driving the growth of the market?

Advantages of fish vaccination over antibiotics, the economic benefits of fish vaccines, business expansion by market players, and increasing product launches or approvals of vaccines are some of the growth-driving factors for the market.