Fish is a widely consumed food across the world
In 2019, 177.8 mmt of fish were produced globally. Despite such huge production in aquaculture, the bacterial disease is a major issue, and is causing multibillion-dollar losses annually. In developing countries, fish diseases often spread quickly between small-scale aquaculture farms. Rising prevalence of infectious diseases such as bacterial diseases, viral diseases, and parasitic and fungal diseases amongst fish species remains a global issue for fish farmers.
Autogenous vaccines have been playing a vital role in bacterial disease control in aquaculture. This is the most effective method for preventing a wide range of bacterial and viral diseases. Autogenous vaccines are widely accepted by aquaculture farming companies during emergency outbreaks, due to very few commercial vaccines being available for specific aquaculture-related diseases.
According to the latest report published by Persistence Market Research, the global autogenous vaccine for aquaculture market was valued at US$11mn in 2020, and is expected to witness a CAGR of 5.5% during the forecast period (2020-2030).
Key takeaways from autogenous vaccine for aquaculture market study
-The salmon fish species is expected to contribute more than 40% revenue share to the market.
-By pathogen type, bacteria held the highest market share in 2019, due to bacterial infections being more frequent across fish farms.
–North America and Europe collectively account for nearly one-third share in the global autogenous vaccine for aquaculture market.
-Leading players are focused on improving their services, and have established collaborations with fish farming companies to provide customised products.
–Fish farming companies are expected to hold a prominent share in the market, owing to high adoption of autogenous vaccine services at these facilities.
-The COVID-19 outbreak has had a negative impact on the global autogenous vaccine for aquaculture market, mainly due to export restrictions.
-This industry has expanded at around 4% over the last 5 years, but growth is projected to increase to around 5.5% CAGR through 2030.
-The United States accounts for around 20% of global demand.
-Norway holds more than one-third of the share in Europe, which is the largest regional market for autogenous vaccines for aquaculture.