Fish Vaccine Market Growth Accelerated by Rising Fish Production

 


The fish vaccine market is witnessing growth owing to the rising fish production globally. Fish vaccines help prevent viral and bacterial infections in fish and enable better fish yields. They provide protection for salmon, seabass, trout, and other fish species reared through aquaculture.

The global fish vaccine market is estimated to be valued at US$ 620 million in 2024 and is expected to exhibit a CAGR of 13% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
The growth of the fish vaccine market is being driven by the rising fish production across the world. According to FAO, global fish production including aquaculture reached 204 million tons in 2022, up 3.2% from 2021. Asia dominates global fish production, accounting for nearly 90% of aquaculture output. Rising fish farming in Asia Pacific economies such as China, India, Bangladesh, and Vietnam is increasing the demand for fish vaccines to prevent infectious diseases and maximize yield. Continuous new product launches catering to various fish species is also fueling the growth of this market. Successful field trials have helped fish vaccine manufacturers expand into new markets.

Segment Analysis
The global fish vaccine market is dominated by the ornamental fish segment. This segment accounts for the major share owing to the increasing availability of colorful and exotic ornamental fish varieties. With rising global pet ownership, there is growing demand for ornamental fish among hobbyists driving vaccine sales for this segment.

Key Takeaways
The fish vaccine market is expected to witness high growth over the forecast period of 2024 to 2031.

Regional analysis: North America leads the market currently due to advanced aquaculture industry and rising salmon farming. Asia Pacific is expected to rise as the fastest growing market due to growing marine and freshwater fish farming in countries like China, India, Indonesia and Vietnam.

Key players: Key players operating in the fish vaccine market are Zoetis Inc, Merck & Co. Inc, Phibro Animal Health Corporation, Intervet Inc, Tecnovax, Virbac, Veterquimica S.A, Hipra, Nisseiken Co., Ltd. Tecnovax is a leading player with extensive portfolio of fish vaccines.

Explore Our More Blogs Here: https://www.newsstatix.com/fish-vaccine-market-share-and-opportunity-analysis/

 

Explore more trending article on Biotechnology: https://whotimes.com/beyond-dna-exploring-the-frontier-of-creation-through-the-lens-of-synthetic-biology/

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