Aquaculture Vaccines Market Size, Share & Trends Analysis Report By Product (Inactivated Vaccines, DNA Vaccines), By Route Of Administration (Injected, Oral), By Application (Bacterial, Viral), And Segment Forecasts, 2021 - 2028

Report Overview

The global aquaculture vaccines market size was valued at USD 322.4 million in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 8.4% from 2021 to 2028. High aquaculture production, high prevalence of infectious diseases in the aquaculture sector, and growing demand for aquatic animal-derived food products are the factors expected to drive the market. The sector has witnessed a change of trend to DNA vaccines from live attenuated vaccines and is swiftly accepting recombinant vaccines as well. Many key players involved in aquaculture vaccines as well as other sectors of animal and human health markets diverted their resources to manufacture critical products and supplies. For instance, during its Q3 earnings release, Zoetis reported a 13% higher revenue compared to the third quarter of the previous year. The performance was driven by the newly launched companion animal parasiticide product as well as Zoetis’ key dermatology portfolio. As a response to COVID-19, the company ramped up its inventory for all aspects of supply chain components. This was followed by the deployment of inventory to market-specific warehouses. This negatively impacted the market growth.

Effective and safe vaccination programs are key tools for ensuring sustainable development of the aquaculture sector, which helps in meeting the growing protein demand globally. Aquaculture is widely regarded as one of the most essential weapons against world malnutrition and hunger. To realize its potential, the aquaculture industry will have to provide a varied range of high-value products for worldwide markets as well as ensure an abundant supply of low-cost fish for domestic consumption in the global south.

According to Aquaculture Research & Development journal, from 2014 to 2018, approximately 219 cases of infectious diseases in the fresh aquaculture sector were registered. Among these, 74.88% were parasitic, 12.80% were bacterial, 1.83% were viral, and 10.50% cases were a mix of parasitic and bacterial diseases. Therefore, such a high prevalence of infectious diseases is expected to boost the demand for vaccines, hence fueling the market growth.

Product Insights

Inactivated vaccines held the largest share of 34.89% in 2020. Inactivated bacterial and viral vaccines are manufactured by the fermentation of the disease-causing pathogens in large quantities. Inactivating agents such as formalin are then introduced to kill all the microorganisms. These inactivated organisms elicit an immune response as they retain their basic shape, original antigen characteristics, and structure.

The recombinant vaccines segment is expected to register a CAGR of 8.65% from 2021 to 2028. Recombinant vaccines help evoke a strong immune response in the vaccinated fish, as they can mimic naturally occurring infections. It is also easier to produce recombinant vaccines in large quantities and on a commercial scale.

Route of Administration Insights

The injected segment held the largest share of 36.73% in 2020. Apex-IHN by Elanco is the first DNA vaccine licensed in Canada for protection against IHNV in healthy salmonid fishes. Alpha Ject lineup by Zoetis is injectable Aquaculture Vaccines for protection against various diseases, including furunculosis, vibriosis, cold-water vibriosis, winter sore, IPN, and Infectious Salmon Anemia (ISA).

The oral segment is expected to expand at the highest CAGR of 8.7% during the forecast period. Oral vaccination has several advantages over other routes of administration. The process is non-invasive, does not require handling of the fish, and is easy to administer and suited for mass immunization. This aids in the growth of the segment.

Application Insights

The bacterial segment held the largest share of 43.94% in 2020. As per Aquatic Animal Health Research by the USDA, bacterial species of more than 20 genera have been identified as causative agents behind Aquatic diseases. They affect over 20 species of freshwater and marine water fishes. Aquatic diseases lead to significant economic losses in the aquaculture industry, which is estimated to be hundreds of million dollars annually.

The viral segment is expected to expand at the fastest CAGR of 8.74% during the forecast period. As per a report by the Responsible Use of Medicines in Agriculture Alliance (RUMA), the key groups of fish farmed via aquaculture, which are routinely vaccinated, are Atlantic salmon, rainbow trout, and Atlantic cod. The viral diseases commonly affecting these species are Salmon Pancreas Disease (SPD) caused by SPD virus, IPN caused by IPNV, and ISA caused by Salmon isavirus.

Regional Insights

In 2020, Europe held the largest revenue share of over 25.0%. The key factors driving this regional market include Norway being the largest salmon exporter, supportive initiatives by the government and private sector, rising human concerns over the incidence of antimicrobial resistance, and the presence of key players. The Norwegian Medicines Agency provides specific regulations and guidelines related to applications for autogenous vaccines. Moreover, autogenous vaccines are only to be used in case commercial vaccines are unavailable or do not offer enough protection. The European Commission funded a large-scale collaborative project under the 7th Framework Programme to support the Aquaculture industry.

The Asia Pacific market is anticipated to witness significant growth over the forecast period owing to factors such as the growing demand, a booming Aquaculture industry, supportive government initiatives, the availability of suitable water resources in many countries, and a trend toward sustainable aquaculture. The region leads in the production of several Aquatic species, such as tilapia.

Key Companies & Market Share Insights

Vendors are investing in product launches, geographical expansions, collaborative agreements, and acquisitions to sustain themselves in the market. The market is expected to become highly competitive as many startups are seeking opportunities in this sector. For instance, in December 2020, Elanco moved its global headquarters to Indiana, the U.S. This complemented the company’s Innovation, Portfolio, & Productivity (IPP) strategy and helped establish a center of excellence for Elanco’s future footprint consolidation. In addition, in August 2020, Merck acquired IdentiGEN. This extended the company’s Livestock and Aquaculture products lineup. Some prominent players in the global aquaculture vaccines market include:

• Zoetis

• Phibro Animal Health Corporation

• Elanco

• Merck & Co., Inc.

• KBNP

• CAVAC

• Kyoto Biken Laboratories, Inc.

• Nisseiken Co., Ltd.

• Vaxxinova International BV

• HIPRA

Aquaculture Vaccines Market Report Scope

Segments Covered in the Report

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2016 to 2028. For the purpose of this study, Grand View Research has segmented the global aquaculture vaccines market report on the basis of product, route of administration, application, and region:

• Product Outlook (Revenue, USD Million, 2016 - 2028)

  • Attenuated Live Vaccines

  • Inactivated Vaccines

  • Subunit Vaccines

  • DNA Vaccines

  • Recombinant Vaccines

• Route Of Administration Outlook (Revenue, USD Million, 2016 - 2028)

  • Oral

  • Injected

  • Immersion & Spray

• Application Outlook (Revenue, USD Million, 2016 - 2028)

  • Bacterial

  • Viral

  • Parasitic

• Regional Outlook (Revenue, USD Million, 2016 - 2028)

  • North America

    • U.S.

    • Canada

  • Europe

    • U.K.

    • Germany

    • France

    • Italy

    • Spain

    • Norway

    • Denmark

    • Ireland

    • Eastern Europe

      • Croatia

      • Czech Republic

      • Hungary

      • Poland

      • Russia

      • Romania

      • Bulgaria

  • Asia Pacific

    • Japan

    • South Korea

    • Taiwan

    • Indonesia

    • Malaysia

    • Singapore

    • Thailand

    • Philippines

    • Vietnam

  • Latin America

    • Brazil

    • Mexico

    • Argentina

    • Chile

    • Colombia

    • Peru

    • Ecuador

  • Middle East & Africa

    • South Africa

    • Saudi Arabia

    • Israel

    • Egypt