Aquaculture Vaccines Market worth USD 444.5 million by 2032, says Global Market Insights Inc.
Aquaculture Vaccines Industry is anticipated to register 7.5 % CAGR between 2023 and 2032 due to surging prevalence of bacterial and viral infections and rising adoption of aquaculture vaccines over antibiotics
Selbyville, Delaware, Jan. 18, 2023 (GLOBE NEWSWIRE) —
Aquaculture vaccines
Rise in bacterial infections in fishes to drive the development of anti-bacterial vaccines
Rising prevalence of bacterial infections is a critical challenge in the aquaculture sector. Growing concerns associated with bacterial infections in fish species and favorable regulations helping to mitigate the spread of diseases are attracting significant investments from private as well as public entities.
Surging consumption of salmon to increase the need for aquaculture vaccines
Rising consumption of farmed salmon will proliferate the product demand. Nearly 70% of the globally consumed salmon is farmed. Moreover, the ban on the sale of antibiotics intended for aquaculture use is encouraging fish farmers to switch to high-value aquaculture vaccines. Furthermore, growing consumption of fish as a source of protein is imposing immense pressure on fishers and wild fish reserves, boosting salmon production worldwide.
Large-scale tilapia production to expand APAC aquaculture vaccines industry
Asia Pacific aquaculture vaccines market value is anticipated to exhibit a 9% CAGR during the forecast timeline. A tremendous rise in tilapia production in APAC countries such as Indonesia, China, Thailand, and the Philippines will augment business expansion in the region. Ongoing R&D activities are focusing the development and commercialization of novel vaccines. Multiple governments in the region are investing heavily in the aquaculture sector to strengthen the output of fisheries.
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Strategic acquisitions to boost aquaculture vaccines industry outlook
Zoetis Inc., Merck & Co., Inc., HIPRA, Tecnovax, Virbac, Veterquimica S.A, Nisseiken Co. Ltd., Phibro Animal Health Corporation, Vaxxinova International BV, Kyoto Biken Laboratories, Inc. are some of the leading companies in the aquaculture vaccines market.
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About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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