NEW YORK, Feb. 12, 2021 /PRNewswire/ -- Fish is a widely consumed food across the world. In 2019, 177.8 million metric tons of fish were produced globally. In spite of such huge production in aquaculture, bacterial disease is a major issue, and is causing multibillion-dollar losses annually. In developing countries, fish diseases often spread quickly between small-scale aquaculture farms. Rising prevalence of infectious diseases such as bacterial diseases, viral diseases, and parasitic and fungal diseases amongst fish species remains a global issue for fish farmers.
Autogenous vaccines have been playing a vital role in bacterial disease control in aquaculture. This is the most effective method for preventing a wide range of bacterial and viral diseases. Autogenous vaccines are widely accepted by aquaculture farming companies during emergency outbreaks, due to very few commercial vaccines being available for specific aquaculture-related diseases.
According to the latest report published by Persistence Market Research, the global autogenous vaccine for aquaculture market was valued at US$ 11 Mn in 2020, and is expected to witness a CAGR of 5.5% during the forecast period (2020 – 2030).
Key Takeaways from Autogenous Vaccine for Aquaculture Market Study
- The salmon fish species is expected to contribute more than 40% revenue share to the market.
- By pathogen type, bacteria held the highest market share in 2019, due to bacterial infections being more frequent across fish farms.
- North America and Europe collectively account for nearly one-third share in the global autogenous vaccine for aquaculture market.
- Leading players are focused on improving their services, and have established collaborations with fish farming companies to provide customized products.
- Fish farming companies are expected to hold a prominent share in the market, owing to high adoption of autogenous vaccine services at these facilities.
- The COVID-19 outbreak has had a negative impact on the global autogenous vaccine for aquaculture market, mainly due to export restrictions.
- This industry has expanded at around 4% over the last 5 years, but growth is projected to increase to around 5.5% CAGR through 2030.
- The United States accounts for around 20% of global demand.
- Norway holds more than one-third of the share in Europe, which is the largest regional market for autogenous vaccines for aquaculture.
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"Rise in prevalence of infectious diseases and demand for autogenous vaccines for preventive treatment will boost sales of autogenous vaccines for aquaculture over the coming years," says an analyst at Persistence Market Research.
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Collaborations & Acquisitions Key Strategy amongst Market Players
Leading players in the autogenous vaccine for aquaculture market are strengthening their product portfolios through acquisitions and expanding their regional presence.
- For instance, in July 2019, Ceva Santé Animale announced the acquisition of IDT's veterinary pharmaceutical and R&D activities.
- In April 2018, Pharmaq announced the production of fish vaccines at a development center in Suzhou, China.
- In November 2016, Ceva announced the acquisition of Hertape Saude Animale Ltda. and Inova Biotecnologia Saude Animale Ltda., two leading Brazilian veterinary biopharmaceutical companies.
Various players in the autogenous vaccine for aquaculture market are focusing on growth strategies such as collaboration and agreement licences.
- In December 2020, HIPRA announced its collaboration with IBM to digitize the animal vaccination process.
- In April 2019, MARINNOVAC collaborated with CZVACCINES S.A and established AQUATRECK ANIMAL HEALTH S.L, an aquaculture pharmaceutical company.
What Does the Report Cover?
Persistence Market Research offers a unique perspective and actionable insights on the autogenous vaccine for aquaculture market in its latest study, presenting historical demand assessment of 2015 – 2019 and projections for 2020 – 2020, on the basis of fish species (salmon, tilapia, bream, Labris Bergylta, Cyprinus Carpio, Sea Bass, Trout, and Cyclopterus Lumpus), pathogen type (bacteria and virus), and end user (fish farming companies and aquatic research institutes), across seven key regions of the world.
Browse Research Release at: https://www.persistencemarketresearch.com/market-research/autogenous-vaccine-for-aquaculture-market.asp
Browse End-to-end Market: Healthcare
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https://www.persistencemarketresearch.com/market-research/autogenous-vaccines-market.asp
Commercial Aquaculture Vaccines Market:
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