Aquaculture Vaccines Market Size to Reach USD 7.77 Billion by 2032
Reports And Data
The global aquaculture vaccines market size was USD 3.76 Billion in 2022 and is expected to register a revenue CAGR of 8.40% by 2032
NEW YORK CITY, NEW YORK , UNITED STATES, March 9, 2023 /EINPresswire.com/ -- The global aquaculture vaccines market size was USD 3.76 Billion in 2022 and is expected to register a revenue CAGR of 8.40% over the forecast period, according to the latest report by Reports and Data.
The demand for fish and seafood is expanding due to population increase and changing dietary tastes, and there is a growing need for vaccinations to protect aquatic animals from various diseases and illnesses. These are the main drivers influencing market revenue growth. Other factors influencing market revenue growth include the rise in government initiatives to support aquaculture, technological developments for the production of more effective and efficient vaccines for aquatic animals, and the demand for vaccines and other preventative treatments to protect aquatic animals from illnesses and infections.
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Some Key Highlights from the Report
• The primary reason for the expected dominant revenue share of the attenuated live vaccines segment is the growing need for vaccines to protect vital aquaculture species such as tilapia and salmon against various viral and bacterial infections. Attenuated live vaccines function by reducing the virulence of the pathogen, allowing it to stimulate an immune response in animals without causing illness.
• The fastest growth in revenue is expected to be seen in the viral segment, attributed to the rising adoption of viral vaccines that provide effective and durable protection against a variety of virus strains.
• During the forecast period, the Asia Pacific market is anticipated to contribute the greatest revenue share. This is a result of the region's aquaculture species having a high frequency of contagious diseases, the expanding demand for seafood, and the need for eco-friendly and sustainable aquaculture techniques.
• Some major companies profiled in the global market report are Hipra, Zoetis, Merck Animal Health, Elanco, Indian Immunologicals, Fish Vet Group, Vaccibody AS, Novartis AG, Tecnovax, Pfizer, Intervet Inc., BioMarin Pharmaceutical Inc., AquaBounty Technologies, Ridgeway Biologicals Ltd., and Vaxxinova.
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