The Global Fish Vaccine Market Growth Accelerated By Rising Global Demand For Prevention Of Fish Diseases
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Fish vaccines are biological preparations used to prevent infectious diseases affecting fish such as viruses, bacteria and parasites. They help protect farmed fish and shrimp populations from mortalities and economic losses caused by infectious diseases.
The
global fish vaccine market is estimated to be valued at US$ 265.4 Mn in 2023 and is expected to exhibit a CAGR of 5.7% over the forecast period 2023 to 2030, as highlighted in a new
report published by Coherent Market Insights.
Market key trends: The rising global demand for prevention of fish diseases is
one of the key trends driving the growth of the fish vaccine market. Fish
farming is becoming increasingly important to meet the rising demand for
seafood. However, intensive aquaculture also increases the risk of disease
outbreaks which can lead to huge economic losses if not prevented or
controlled. Vaccines help promote sustainable aquaculture practices by
protecting fish from infectious diseases. This reduces treatment and mortality
costs and guarantees food safety. Hence, farmers are increasingly adopting
vaccination to minimize the impact of diseases on fish production.
Segment Analysis
The global fish vaccine market is dominated by the ornamental segment.
Ornamental fish farming is a booming industry and contributes significantly to
the market revenues. Ornamental fish are at high risk of contracting infectious
diseases owing to high density farming practices. Vaccines help curb the spread
of diseases and are extensively used in ornamental fish farms.
Key Takeaways
The Global
Fish Vaccine Market Size is
expected to witness high growth over the forecast period of 2023 to 2030. The
market size is projected to reach US$ 265.4 Mn by 2023 from US$ 200 Mn in 2020,
registering a CAGR of 5.7% during 2023-2030.
Regional analysis
The Asia Pacific region currently dominates the global fish vaccine market and
is expected to continue its dominance through the forecast period. extensive
fish farming in countries like China, India, Vietnam contributes to the large
market size of the region. High risk of infectious disease outbreaks due to
intensive fish farming practices drives the adoption of vaccines.
Key players
Key players operating in the fish vaccine market are Bayer AG, BASF SE,
Syngenta AG, DuPont de Nemours Inc., ADAMA Ltd., Arysta LifeScience, Nufarm,
Nissan Chemical Industries Ltd., Shandong Binnong Tech Co Ltd., FMC
Corporation, Monsanto Company, UPL, Bhaskar Agrochemicals Ltd., Dhanuka
Agritech Limited, and Insecticides (India) Ltd. Companies are focusing on
developing novel vaccines for newly emerging diseases.
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