The fish vaccine market consists of vaccines used for protection of fish from infectious diseases. Fish vaccines help prevent several diseases affecting marine and freshwater fish such as Vibriosis, Aeromoniasis, Ichthyophthiriasis etc. by activating the immune system of fish against specific pathogens.
The global fish vaccine market is estimated to be valued at US$ 950 million in 2024 and is expected to exhibit a CAGR of 13% over the forecast period 2024-2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increasing demand for prevention of fish diseases has been a major factor driving growth of the global fish vaccine market size. Fish farming practices have increased globally which leads to high chances of spread of disease if preventive measures are not taken. Fish vaccines help prevent losses associated with infectious diseases in aquacultures. With growing population and rising demand for protein rich seafood, the aquaculture industry has been expanding significantly. This has augmented the demand for fish vaccines for protection of farmed fish population. Development of innovative vaccine technologies which provide enhanced effectiveness is also fueling the market growth.
SWOT Analysis
Strength: Fish vaccine helps protect farmed fish from common diseases, reduces mortality rates and improves yields. Grows and strengthens the aquaculture industry.
Weakness: High development and production costs associated with fish vaccines. Requires proper cold chain logistics and storage which increases costs.
Opportunity: Increasing demand for seafood provides opportunity for growth in aquaculture and subsequent demand for fish vaccines. Expanding geographical presence to emerging countries.
Threats: Strict regulations regarding development and approval of new fish vaccines. Emergence of new diseases poses challenge.
Key Takeaways
The global fish vaccine market is expected to witness high growth.
Regional analysis comprises Asia Pacific dominates the global fish vaccine market and is expected to continue its dominance over the forecast period. China, India, Vietnam, Indonesia, Bangladesh, and Thailand are major producers and consumers of fish vaccines in the Asia Pacific region.
Key players operating in the fish vaccine market are Zoetis Inc, Veterquimica S.A., Tecnovax, HIPRA, Anthropic, Virbac, Benchmark Holding Plc, KoVax Ltd, and EW Group GmbH. Merck Animal Health also produces fish vaccines. The market leaders are focusing on research and development activities to develop vaccines for new and emerging diseases in aquaculture. Companies are also expanding their geographic presence through collaboration with local manufacturers to better serve international markets.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it