Aquaculture vaccines Market will achieve 6% CAGR up to 2025
Jun 3, 2019
UK aquaculture vaccines market accounted for significant share in 2018 and is set to exceed USD 29.2 million by 2025 owing to rise in number of new vaccines launched in UK to meet the growing needs for protection of various fish species.
Selbyville, United States - June 3, 2019 /MarketersMedia/ —
Global Aquaculture Vaccines Market is set to achieve 6%+ CAGR from 2019 to 2025; according to a new research study published by Global Market Insights, Inc. Increasing research and development activities to explore new methods for production of novel vaccines will boost industry growth in the future. Majority of the players are sorting to intensive R&D investment for development of advanced and complex vaccines. Various funding programs from government and private institutes for R&D activities in vaccine development will be one of the major factors driving market growth.
Growing adoption of vaccines over antibiotics for protection against various bacterial and viral infections will act as a high impact rendering factor for aquaculture vaccines market growth. Vaccines provide superior protection without any negative outcomes of antibiotics such as resistance and disease recurrence. With the growing prevalence of viral and bacterial infections, the demand for aquaculture vaccines is estimated to grow in the future.
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Inactivated vaccine segment of aquaculture vaccines market accounted for revenue of USD 158.2 million in 2018. Various advantages associated with inactivated vaccines such as quick and strong immune response will boost segment growth. Launch of novel and advanced inactivated vaccines for treatment of complex and multiple bacterial and viral infections will further propel industry growth in the future.
Immersion vaccines market will show significant growth at 6.7% CAGR from 2019 to 2025. Direct exposure of immune cells located in the fish's gills and skin to antigens will induce a strong and long-lasting immune response. Growing efficiency of immersion vaccines and ease of vaccine administration will augment segmental growth across the forecast timeframe.
Aquaculture vaccines intended for treatment of viral diseases held significant market share of 15.8% in 2018. As per the National Institute of Health (NIH), viral diseases are the second most prevalent disease challenge in fish farming accounting for about 23% of cases worldwide. Growing number of viral infections such as infectious salmon anemia (ISA) and infectious pancreatic necrosis (IPN) will boost segment growth.
Tilapia business segment is expected to reach USD 45.5 million by 2025 owing to growing demand and economic importance of tilapia in international market. As per the Food and Agriculture Organization of the United Nations (FAO), tilapia is the second most important finfish species accounting for about 7.4% of the global aquaculture production in 2015. Growing tilapia production due to short production period and easy culture techniques will boost tilapia vaccines industry growth in the future.
UK aquaculture vaccines market accounted for significant share in 2018 and is forecasted to reach USD 29.2 million by 2025. Rise in number of new vaccines launched in UK to meet the growing needs for protection of various fish species will spur the country growth. Moreover, favorable government support and growing adoption of vaccines over antibiotics will further foster UK aquaculture vaccines market growth.
China aquaculture vaccines market is forecasted to expand at 7.3% CAGR over the forecast period. Growing production of tilapia and other economically important fish species will favor aquaculture vaccines industry growth in China across the forecast timeframe. Growing need for protection of fish produce from various bacterial and viral diseases will spur market growth.
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Few of the prominent market players involved in global aquaculture vaccines market are Hipra, Zoetis Inc., Merck & Co., Inc., Tecnovax, Virbac, Veterquimica S.A., and Nisseiken Co. Ltd. Key players are engaged in research and development initiatives to enhance their market foothold and expand geographic reach. For instance, in April 2019, Merck acquired Antelliq Corporation, a company providing digital solution for animal health. It will provide digital solutions to Merck?s current animal health segment for the expansion of the segment.
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Name: Arun Hegde
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Organization: Global Market Insights, Inc.
Website: https://www.gminsights.com/pressrelease/aquaculture-vaccines-market
Source URL: https://marketersmedia.com/aquaculture-vaccines-market-will-achieve-6-cagr-up-to-2025/519350
Source: MarketersMedia
Release ID: 519350
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