April 22, 2024
Fish Vaccine Market

The Global Fish Vaccine Market Is Driven By Demand For Sustainable Aquaculture

The fish vaccine market comprises various products that help in protecting fishes from viral and bacterial diseases. Fish vaccines are widely used in aquaculture to ensure healthier fish farming and production. Vaccines play a critical role in supporting sustainable aquaculture practices by preventing the spread of infectious diseases among fish populations. The growing aquaculture industry relies on continuous fish production to meet the increasing seafood demand worldwide. Vaccines minimize the risk of disease outbreak, thereby allowing aquafarmers to maintain optimum fish stocks and harvest better yields.

The global fish vaccine market is estimated to be valued at US$ 750 million in 2024 and is expected to exhibit a CAGR of 13% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
The fish vaccine market size is witnessing increasing adoption of advanced vaccine technologies. Traditionally, fish vaccines were developed using killed or modified live pathogen preparations. However, researchers are now focusing on newer technologies and innovation to improve vaccine efficacy, stability, and safety. DNA vaccines and recombinant protein vaccines using antigens from fish pathogens are gaining traction. These designer vaccines stimulate specific immune responses in host animals without causing disease. Furthermore, vaccine delivery methods are also evolving, with the aid of adjuvants, biodegradable microparticles, and vaccines delivered through oral or immersion routes. Adoption of such advanced technologies can help address antigens’ diversity and improve disease control in aquaculture.

Porter’s Analysis
Threat of new entrants: Low barriers to entry but requiring substantial R&D investment and approval process to enter the market.

Bargaining power of buyers: Large pharmaceutical companies have bargaining power over smaller manufacturers.

Bargaining power of suppliers: Suppliers of active ingredients have some bargaining power over manufacturers.

Threat of new substitutes: Limited threat as vaccines are highly regulated medicines that require rigorous testing and approval.

Competitive rivalry: Intense competition between major players to gain market share and frequent new product launches.

Key Takeaways
The global fish vaccine market is expected to witness high growth driven by increasing aquaculture production globally.

Regional analysis: The Asia Pacific region is expected to grow the fastest during the forecast period due to rising awareness regarding benefits of vaccination and control of diseases in fish farming. China and India are the major markets in the region owing to large scale production of fish through farming.

Key players: Key players operating in the fish vaccine market are Zoetis Inc., Merck & Co. Inc., Phibro Animal Health Corporation, Anthropic, Virbac, Veterquimica S.A., and HIPRA. Zoetis Inc. and Merck & Co. Inc. dominate the global market due to their wide product portfolio and geographical presence across regions.

*Note:

  1. Source: Coherent Market Insights, Public sources, Desk research
  2. We have leveraged AI tools to mine information and compile it