London, London -- (SBWIRE) -- 10/24/2018 -- According to Precision Business Insights report, the global aquaculture market is growing with a rapid pace due to increase in consumption of fish as they are rich in protein. However, increase in bacterial and viral diseases are affecting the aquaculture market. Antibiotics are most commonly used to treat bacterial and viral infections in fish. However, growing antibiotic resistance became a big concern. Hence, aquaculture vaccines are gaining importance in the entire aquaculture ecosystem as they can improve the fish yield and protects the fishes from bacterial and viral infections.

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Growing aquaculture production and restrictions on antibiotics usage in aquaculture will create lucrative opportunities for aquaculture vaccine manufacturers. Inactivated vaccines dominates the aquaculture vaccines market due to their established clinical efficacy and accessibility of the products when compared with the DNA vaccines and attenuated live vaccines. However, DNA vaccines are projected to exhibit significant growth over the forecast period as they provide strong immunity to the aqua species than conventional vaccines in the market. Market players are also actively working in developing newer vaccines to broaden the product portfolio. For instance, in 2017, Elanco launched DNA derived vaccine, Clynav, in Europe market.

Stringent regulations, lack of awareness about benefits associated with vaccines adoption and complexity in storage of vaccines are the main barriers for the aquaculture vaccines market growth. Furthermore, majority of the vaccines are the salmon based vaccines. Very few aquaculture vaccines are currently available in the market that can be used for other species.

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Europe dominates the global aquaculture vaccines market

PBI's global aquaculture vaccines market report analyses the market in different regions such as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. Globally, Asia Pacific region is the leader in the aquaculture production however, antibiotics are most commonly used in Asia-pacific region when compared with the aquaculture vaccines. Europe accounted for larger revenue share through 2013-2017 and the trend is projected to follow over 2018-2025 owing to increase in the adoption of aquaculture vaccines in Norway, Russia, U.K, Greece, and other countries. Furthermore, European countries focus on salmon farming and majority of the commercial vaccines that are available in the market are salmon based vaccines.

Mediterranean aquaculture market is projected to register high CAGR for aquaculture vaccines over the forecast period owing to surge in aquaculture production. In Latin America, Chile dominates the aquaculture vaccines market when compared with the other countries. Chile is the second largest producer of salmon that stands next to Norway.

Aquaculture vaccines are administered through immersion, injection, and oral route. Injection method dominates the aquaculture vaccines market as they are more effective and provides significant protection to the fish when compared with other route of administration. However, injection route is tedious process and capital intensive process.

Very few market players operating in the global aquaculture vaccines market

Global aquaculture vaccines market is dominated by the top five players and they account for significant market share. Top animal health players are actively acquiring the fish vaccine companies to expand their product portfolio in the aquaculture market. Development of aquaculture vaccines other than salmon species could be seen as lucrative opportunity for the market players. Global aquaculture vaccines market report further reveals that the key players increasingly adopting strategies such as launch of newer products and long term alliance to improve market revenue share and gaining significant geographic presence across the region. For instance. In January 2017, Pharmaq acquired fish vaccination company Nordland Sett Vaks to strengthen its fish vaccine portfolio. In addition, In May 2018, HIPRA launched its well-known ICTHIOVAC VR/PD vaccine, an injectable vaccine registered for sea bass against Vibriosis and Pasteurellosis in Turkish market.

Key market player's profiles that are covered in the report are Pharmaq AS (Zoetis, LLC) (Norway), Merck Animal Health (Merck & Co., Inc.) (U.S.), KoVax Ltd. (Israel), Virbac (France), Elanco (U.S.), Hipra (Spain), Tecnovax SA (Argentina), Veterquimica S.A. (Chile), and Nisseiken Co. Ltd. (Japan) among others

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Detailed Segmentation

By Vaccine Type
o Inactivated Vaccine
o Attenuated Live Vaccine
o DNA Vaccine
o Others

By Application
o Bacterial Infection
o Viral Infection
o Combined Bacterial and Viral Infections
o Others

By Route of Administration
o Immersion Vaccines
o Injection Vaccines
o Oral Vaccines

By Species
o Salmon
o Seabass and Seabream
o Tilapia
o Trout
o Turbot
o Carp

Geography

o North America
- U.S
- Canada
o Europe
- Norway
- Russia
- United Kingdom
- Greece
- Spain
- Rest of Europe
o Asia-Pacific
- China
- Indonesia
- Bangladesh
- Philippines
- Rest of Asia-Pacific
o Latin America
- Chile
- Brazil
- Mexico
- Peru
- Rest of Latin America
o Middle East and Africa (MEA)
- Egypt
- Iran
- Turkey
- Uganda
- Rest of MEA

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