The global Fish Vaccine Market is estimated to be valued at US$ 265.4 Million in 2023 and is expected to exhibit a CAGR of 6.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Fish vaccines help prevent diseases like bacterial kidney disease, vibriosis, streptococcosis and furunculosis among fish population. They provide protection from serious economic losses that usually occur due to diseases in fish farming industry.
Market key trends:
One of the key trends driving the growth of the fish vaccine market is rising salmon and trout farming. According to studies, salmon farming produces over 2 million metric tons of edible salmon each year which accounts for over 50% of the global salmon market. As high density salmon farming puts fish in crowded conditions, it becomes very vulnerable to diseases. Therefore, regular vaccination programs against infectious diseases is integral to salmon farming industry. This is fueling demand for fish vaccines specifically designed for salmon species.
Segment Analysis
The global fish vaccine market is segmented on the basis of vaccine type, fish species, and region. By vaccine type, the live attenuated vaccines segment is expected to dominate the market during the forecast period, owing to its ability to induce a longer-lasting immunity against the disease. Live attenuated vaccines help in controlling both horizontal and vertical disease transmission in farmed fish population.
Key Takeaways
The global Fish Vaccine Market Growth is expected to witness high growth, exhibiting CAGR of 6.5% over the forecast period, due to increasing aquaculture production to meet the growing demand for fish and fish products.
Regional analysis - Asia Pacific region is expected to be the fastest growing as well as the dominating region in the global fish vaccine market during the forecast period. This is attributable to the presence of major fish-farming nations such as China, India, Vietnam, Bangladesh, and Indonesia in this region.
Key players - Key players operating in the fish vaccine market are 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.
For more insights, read- https://www.ukwebwire.com/fish-vaccine-market-trends-size-and-share-analysis/
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