The latest market report published by Research Nester “Fish Vaccines Market: Global Demand Analysis & Opportunity Outlook 2027” which delivers detailed overview of the global fish vaccines market in terms of market segmentation by vaccine, by fish species, by route of administration and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
Advancements in fish farming techniques in recent years has raised the demand for production of good quality fish on a larger scale. This can be achieved by vaccinating the fish species during aquaculture. The market for fish vaccines is anticipated to witness a CAGR of 6.5% during the forecast period, i.e., 2019-2027. This robust growth can be attributed to increasing prevalence of diseases among fish and growing use of vaccines for prevention of infection among them. The market is segmented by vaccine, by fish species, by route of administration and by region. On the basis of route of administration, the market is further segmented into injection, oral and immersion, out of which, the immersion segment is estimated to grow at highest rate during the upcoming years. This can be attributed to the several advantages offered by this procedure of vaccination including faster production of antibodies by the fish and greater potency of vaccines administered through the surface of fish bodies.
On the basis of region, the market in Europe is anticipated to grow significantly during the forecast period on account of increasing fish consumption and growing advancements in aquaculture techniques in countries such as Norway. The increasing demand for large scale fish production in North America is a significant factor estimated to result in market growth in the region. Moreover, the market in Asia Pacific region, mainly in China, is anticipated to grow at a significant rate on account of increasing measures taken for the prevention of diseases among fish.
Large Scale Production Of Fish To Support The Market Growth
Increased consumption of various species of fish among the population has resulted in large scale fish farming in regions across the world. According to the Food and Agriculture Organization of the United Nations (FAO), the global fish production rose to 171 million tonnes in 2016, out of which, 43% share was represented by aquaculture and the share went up to 53% when non-food uses of fish were excluded. In order to increase profits and produce healthy fish, highly effective vaccines are required. The development of improved fish vaccines is a major factor estimated to propel the growth of fish vaccines market.
However, the strict policies regarding approval of vaccines is a factor responsible for restricting the market growth since it is estimated to limit the availability of fish vaccines and thereby increase the cost in the market.
This report also provides the existing competitive scenario of some of the key players of the global fish vaccines market which includes company profiling of Zoetis (ZTS), Merck & Co. (MRK), HIPRA, Seppic, Nisseiken Co., Kyoritsuseiyaku Corporation, Intervet International B.V., Microsynbiotix and Aquatactics. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global fish vaccines market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.