Industry Trends

Asia Pacific Aquaculture Vaccines Market size crossed USD 21.8 million in 2020 and is estimated to observe a growth rate of over 8.2% between 2021 and 2027.

Vaccination efforts contributes to social, economic, environmental sustainability in global aquaculture. Most licensed fish vaccines are traditionally been inactivated microorganisms that are formulated with adjuvants and delivered through injection and immersion routes. Moreover, the fish immunization is been carried for 50 years and is generally accepted method for preventing wide range of viral and bacterial infection.
 

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Development of novel vaccines and new launches of vaccines by various companies will drive the APAC aquaculture vaccines industry growth. For instance, Hipra company launched Icthiovac CR/PD vaccines across the globe including Asia Pacific region. The vaccines are used for treatment of pasteurellosis and vibriosis. Thus, these activities of companies have paved way for expansion and growth opportunities for market in the future. Furthermore, technological advancements in will increase the adoption of vaccines for aquaculture.

Surging prevalence of bacterial and viral infections in the region will drive the market growth. Also, due to the transition from antibiotics to vaccinations, millions of fish are vaccinated annually in various Asia Pacific countries. Furthermore, vaccination improves the survival rate that will aid more production of vaccines. However, complex procedures involved in vaccine development and stringent regulatory policies for vaccine approval will restrain the market growth.

APAC Market, By Type of Vaccines

Inactivated vaccine segment accounted for USD 17.6 million in 2020. Inactivated vaccines are also known as killed vaccines. Inactivated vaccines are less expensive to produce as compared to live vaccines. These vaccines do not persist within the environment, so they are usually found to be safe and may induce shorter lived immunity when compared with other vaccines.

APAC Market, By Route of Administration

Injection vaccines segment is anticipated to grow at 7.9% CAGR through 2027. Injection vaccines normally includes water based or oil-based compound known as an adjuvant that serves to further stimulate the immune response. Also, injection vaccination is more effective for many pathogens that causes systemic disease and protection last for six months to one year.

APAC Market, By Application

Bacterial infection segment is anticipated to reach USD 24.7 million by 2027. Various bacteria such as Edwardsiella ictalurid, Streptococcus spp and E tardawo among others can affect the aquaculture species that will drive the segmental growth. For instance, according to the Viral Diseases Journal, approximately 50% of aquaculture diseases occur due to various bacteria.

APAC Market, By Species

The tilapia segment revenue was over USD 16.2 million in 2020. Tilapia belongs to the family Cichlidae under perciformes. In populations of tilapia, males grow faster and are more uniform in size than females. Also, tilapia farming ranges from a rural subsistence to large scale level depending on the intensity of management employed. Therefore, as demand for fish is increasing, production level of species has become necessary.

APAC Market, By Country

China aquaculture vaccines market is set to expand at a CAGR of 8.1% to exceed USD 12.2 million by 2027 impelled by increased production of tilapia and other related species. For instance, according to the NOAA Fisheries report 2017, around 89% of fish, mollusks and crustacean are cultured in Asia Pacific region. The report also stated that, China produces over 49,244,101 metric tons of crustacean, fish, and mollusks. Furthermore, growing disease burden such as hepatopancreatic microsporidiosis and acute hepatopancreatic necrosis diseases will increase the demand for healthcare management of aquatic animals.

Competitive Market Share

Some of the key players involved in the market include 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 September 2020, Stonehaven Incubate and Touchlight Genetics launched a new aquaculture vaccine development company known as Touchlight Aquaculture. The new company will utilize Touchligh Genetic platform to develop new vaccines, allowing large scale commercial production. This strategy is expected to increase its revenue, thereby strengthening its market presence.