Latin America Aquaculture Vaccines Market Size & Outlook
Latin America aquaculture vaccines market, 2018-2030 (US$M)
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Latin America aquaculture vaccines market highlights
- The Latin America aquaculture vaccines market generated a revenue of USD 58.5 million in 2023.
- The market is expected to grow at a CAGR of 9.6% from 2024 to 2030.
- In terms of segment, inactivated (killed) was the largest revenue generating vaccine type in 2023.
- Other Vaccines is the most lucrative vaccine type segment registering the fastest growth during the forecast period.
- Country-wise, Mexico is expected to register the highest CAGR from 2024 to 2030.
Latin America data book summary
| Market revenue in 2023 | USD 58.5 million |
| Market revenue in 2030 | USD 111.5 million |
| Growth rate | 9.6% (CAGR from 2023 to 2030) |
| Largest segment | Inactivated (killed) |
| Fastest growing segment | Other Vaccines |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Modified/ Attenuated Live, Inactivated (Killed), Other Vaccines |
| Key market players worldwide | Zoetis, Phibro Animal Health Corp Class A, Elanco Animal Health Inc, Merck & Co Inc, Choong Ang Vaccine Laboratories (CAVAC), Kyoto Biken Laboratories, Nissenken, KBNP, Vaxxinova, HIPRA |
Other key industry trends
- In terms of revenue, Latin America region accounted for 14.7% of the global aquaculture vaccines market in 2023.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 180.1 million by 2030.
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Aquaculture Vaccines Market Scope
Aquaculture Vaccines Market Companies
| Name | Profile | # Employees | HQ | Website |
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Latin America aquaculture vaccines market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to aquaculture vaccines market will help companies and investors design strategic landscapes.
Inactivated (killed) was the largest segment with a revenue share of 34.7% in 2023. Horizon Databook has segmented the Latin America aquaculture vaccines market based on modified/ attenuated live, inactivated (killed), other vaccines covering the revenue growth of each sub-segment from 2018 to 2030.
Latin American aquaculture has been based primarily on exotic species such as tilapia, trout, salmon, and carp. Chile, Ecuador, Brazil, and Mexico account for more than 80% of the regional aquaculture volume, as per FAO.
About 9 countries in the region are mainly involved in salmonid aquaculture (trout and other), marine shrimp cultivation dominates in 18 countries and tilapia in 20 countries. Streptococcal infections have resulted in significant economic losses in the aquaculture sector, in Latin America.
Vaccines offer a safe way of protecting fish health and many R&D activities are ongoing in the field. In February 2020, MSD Animal Health launched a vaccine in Honduras against streptococcosis in tilapia and other vulnerable species. The company plans to launch the vaccine throughout the Latin American region following local regulatory approvals.
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Our clientele includes a mix of aquaculture vaccines market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of continent-level data and insights on the Latin America aquaculture vaccines market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America aquaculture vaccines market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Latin America aquaculture vaccines market size, by country, 2018-2030 (US$M)
Latin America Aquaculture Vaccines Market Outlook Share, 2023 & 2030 (US$M)
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