Fish farming companies account for over 80% demand for autogenous vaccines: Research
Autogenous vaccines are widely accepted by aquaculture farming companies during emergency outbreaks
The 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 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 the aquaculture market was valued at US$ 11 Mn 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 customized products.
- Fish farming companies are expected to hold a prominent share in the market, owing to the high adoption of autogenous vaccine services at these facilities.
- The COVID-19 outbreak has had a negative impact on the global autogenous vaccine for the 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.
