Over the course of the forecast period, the global market for fish vaccines is anticipated to develop due to the advantages of fish vaccination over antibiotics and the financial advantages of fish vaccines. Over the projected period, fish farmers are anticipated to employ vaccines more frequently than antibiotics, fueling the expansion of the worldwide fish vaccine market. As an illustration, the following table from the Vaccine Journal of Veterinary Science & Veterinary Science & Technology: (2018) illustrates the benefits of vaccines versus antibiotics in fish farming: The expansion of the worldwide fish vaccine market is anticipated to be aided by rising government initiatives to expand aquaculture over the forecast period. To enhance the scale of Morocco's aquaculture sector, for instance, the European Union initiated a project in April 2022 and provided a grant of US$ 269,670 in addition to that. Morocco's National Agency for the Development of Aquaculture (ANDA) and France's Ministry of Agriculture are working together to manage the project. Product releases involve market participants, which is anticipated to fuel market expansion over the forecast period.
The Coherent Market Insights estimates that the market for Fish Vaccines is anticipated to reach US$ 249.20 million in 2022 and is predicted to grow at a 6.5% CAGR from 2022 to 2030.
Major Players in the Fish Vaccine Industry:
1. HIPRA
The company was founded in 1971and has its headquarters in Catalonia. Vaccines and a diagnostic service make up the product portfolio of HIPRA, a biotech pharmaceutical firm with a prevention-focused approach to both human and animal health. The business has been working on a COVID-19 vaccination since 2020.
2. VETERQUIMICA SA
The company was started in 1969 and is based in Santiago, Chile. Manufacturing, producing, or processing pharmaceuticals in pharmaceutical preparations for human or veterinary use is a part of the company's line of business.
3. Kyoto Biken Laboratories, Inc.
The company was established in 1948 and is based in Kyoto, Japan. The company's business includes the creation of toxoids, similar chemicals, and vaccines against bacteria and viruses. The company produces veterinary vaccinations for fish, plants, and animals. The KYOTOBIKEN vaccine was re-launched in Israel in 2022.
4. Vaxxinova International BV
The business was started in 2010 and has its headquarters in Netherlands. The business provides and creates preventative plans and solutions for cattle. The company's main areas of interest include autogenous and registered vaccines for fish, poultry, and pigs, as well as diagnostics.
5. Merck & Co., Inc
The firm was started in 1891 and is based in New Jersey, United States. The business is active in the pharmaceutical, animal health, and consumer care industries. Merck announced in April 2023 that it will pay $10.8 billion to purchase Prometheus Biosciences Inc. The business declared in September 2022 that it would purchase Vence, a livestock management firm, for an unknown sum and incorporate it into Merck Animal Health.
6. Zoetis Inc.
The business was established in 1952 and is based in New Jersey, United States. The business produces drugs and immunisations for animals and pets. In June 2022, Zoetis purchased privately held genetics startup Basepaws in order to expand its offering of specialised animal health solutions. The purchase of Jurox by Zoetis, which was announced in August 2021, will increase the company's footprint in New Zealand, the US, Canada, and the UK.
7. NISSEIKEN CO., LTD.
The company was started in 1959 and has its main office in Japan. Pharmaceutical preparations for human or veterinary use are among the products that the company manufactures, fabricates, or processes. The business offers defence against rabies in canines and felines.
Definition: The process of triggering defence systems in fish against harmful bacteria by exposing them to non-pathogenic forms or microbe components is known as fish vaccination.
