Europe Aquaculture Vaccines Market size exceeded USD 111.7 million in 2020 and is anticipated to expand at a CAGR of 6.4% between 2021 and 2027.
Aquaculture vaccines are type of vaccines that are used to treat diseases of fishes. Aquaculture vaccines thus plays an important role during aquaculture farming. Vaccination improves profitably and survival rate of production. Aquaculture industry is showing a positive shift by adoption of aquaculture vaccines.
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Rising adoption of aquaculture vaccines against antibiotics will drive the European aquaculture vaccine industry. There are multiple approaches to innovative therapy in fish farming, despite of this, fish diseases remain one of the major causes of economic losses in commercial aquaculture. There are few drawbacks of using chemotherapeutics and antibiotics for diseases treatment such as safety concerns and drug resistance issue. Such drawbacks of chemotherapeutics and antibiotics increases the demand of adoption of aquaculture vaccines. However, complex procedures involved in vaccine development and stringent regulatory policies for vaccine approval will restrain the market growth.
Development and launch of new vaccines are one the major driving factor of the market growth. Continuous research is being carried for development of new vaccines for viral and bacterial infections. Developed vaccines that are inactivated bacterial pathogens have been proven to be very efficacious in fish. With intentions to curb the spreading of bacterial and viral diseases, government in conjunction with companies is taking numerous efforts in developing and introducing new vaccines.
Inactivated vaccines segment size was over USD 90.4 million in 2020. Inactivated or killed vaccines are created from virulent disease-causing microbe and through one of the process it loses its ability to replicate or infect in or outside of a host. These changes can be induced through chemical, physical or radiation process without compromising the antigenicity of the microbial agent. Inactive vaccines are more stable compared to live vaccines under field conditions.
Injection aquaculture vaccines market will show a notable growth of 6.1% during the forecast period. Injection vaccination promotes direct delivery of a small volume of antigen into the muscle or into the body cavity that allows direct stimulation of a systemic immune response. Injection vaccination is logistically the most demanding method.
Bacterial infection segment held a market share of 66.6% in 2020. Common bacterial pathogens seen are Edwardsiella ictalurid, Streptococcus spp, E tarda, Aeromonas hydrophila, A salmonicida and other related gram-positive cocci that can affect the aquaculture species. The prevalence of bacterial infection among fish livestock is increasing. Treatment associated with such bacterial infection are limited to species. Thus, increasing need to develop novel and universal vaccines will and boost the segment growth.
Vaccines for salmon will reach a valuation of USD 125.45 million by 2027. Salmon is one of the most popular fish consumed as source of fish protein across the globe. Salmon contains high levels of Omega-3 content and are rich in high-quality protein, vitamins, and minerals. With increasing demand for salmon, the need for healthy and safe salmon produce will be of major concern. Thus, high demand for salmon as food source will require better yield in terms of quality and quantity, that will in turn propel the growth of vaccines intended for salmon.
The Norway aquaculture vaccines market is estimated to witness over 6% CAGR and reach USD 81.8 million by 2027. High growth is attributed to increase in aquaculture farming, presence of major market players, launch of new vaccines and rise in awareness about the benefits of aquaculture vaccines. Moreover, fish source proteins are part of diet, as a result, farmed fishes are properly fed, medicated, and kept in sterile environment. Vaccination in aquaculture produce is a regular and widely practiced exercise across the nation. Continuous innovation of new vaccines and biologics will drive the market revenue.
Major players in the market are Zoetis Inc., HIPRA, Merck & Co., Inc., Tecnovax, Veterquimica S.A., and Virbac, among others. Companies undertake various strategies such as mergers, collaborations, new product launch, acquisitions, geographic expansions to strengthen their market share.
For instance, in April 2019, CZ vaccines and Marrinovk Ltd launched the new aquaculture focused pharmaceutical venture Aquatreck Animal Health. Aquatreckhas its focus on aquaculture development providing autogenous, innovative, experimental, and licensed vaccines and novel, autogenous and accurate diagnostic service for shrimp and fish farming industry.