PersistenceMarketResearch states that the commercial aquaculture vaccines market will witness a CAGR of 7% between 2020 and 2030.
The FAO (Food and Agriculture Organization) of the UN states that close to 580 aquatic species are getting farmed at the global level every year. It further states that almost 50% of the fish available worldwide is being consumed in the form of “food”. The present scenario is such that the aquaculture industry is witnessing a paradigm shift. In other words, the aquaculture industry is witnessing a transformation to preventive measures like vaccines from traditional antibiotic treatments. Initially, use of antibiotics was directed towards excessive treatment but they came with risk of resistance against bacteria and dissemination.
The study entitled “Current Status of the Use of Antibiotics and the Antimicrobial Resistance in the Chilean Farms”, Chile stands second in terms of production of salmon. This certainly calls for using preventive measures like vaccination for reducing the risk pertaining to dissemination. This factor is all set to bolster the commercial aquaculture vaccines market between 2020 and 2030.
The commercial aquaculture vaccines could be categorized as live, inactivated, subunit, and DNA. They could be administered orally, injected, or immersed.
The report entitled “Fisheries of the United States, 2017” states that close to 89% mollusks, crustacean, and fish are cultured all across the Asia-Pacific. China alone is credited to produce more than 49,244,101 metric tons of the above-mentioned aquamarine species. However, it needs to be noted that increasing occurrences of ailments like hepatopancreatic necrosis and hepatopancreatic microsporidiosis ask for healthcare management, thereby driving the demand for commercial aquaculture vaccines. The key players in the commercial aquaculture vaccines market include Hipra, Microsynbiotix, Technovax, PharmaQ, Merck & Co., Inc., and Veterquimica SA. On the developments’ front, PharmaQ did acquire Nordland Sett Vaks in 2017 for expanding its reach all over Norway