At 9.1% CAGR, the Asia Pacific Fish Vaccines Market is Projected to be worth US$ 94.15 million by 2030, says Business Market Insights

According to Business Market Insights research, the Asia Pacific fish vaccines market was valued at US$ 46.87 million in 2022 and is expected to reach US$ 94.15 million by 2030, registering a CAGR of 9.1% from 2022 to 2030. Surging demand for aquatic animal-derived food products is among the critical factors attributed to the Asia Pacific fish vaccines market expansion.

An unhealthy diet is a growing concern in developing and developed countries, resulting in a variety of negative health consequences. Thus, fish is highly advisable in diet for healthy growth and development as it is rich in vitamins, minerals, lipids, and macronutrients such as proteins. Additionally, it is believed that aquaculture is the most effective way to produce high-quality proteins for a sustainable human diet. Growing awareness regarding the nutritional benefits of fish consumption propels the demand for sustainable, high-quality, and healthy meat products. Therefore, the rising consumption of fish and fish-derived products fuels the fish vaccines market growth.

On the contrary, stringent regulations for approval of vaccine hurdles the growth of Asia Pacific fish vaccines market.

Based on vaccine type, the Asia Pacific fish vaccines market is categorized into inactivated vaccines, live attenuated vaccines, subunit vaccines, recombinant vector vaccine, and others. The inactivated vaccines segment held 72.9% market share in 2022, amassing US$ 34.15 million. It is projected to garner US$ 69.58 million by 2030 to expand at 9.3% CAGR during 2022-2030.

Based on application, the Asia Pacific fish vaccines market is categorized into bacterial infection, viral infection, and parasitic. The bacterial infection segment held 81.5% share of Asia Pacific fish vaccines market in 2022, amassing US$ 38.21 million. It is projected to garner US$ 77.58 million by 2030 to expand at 9.3% CAGR during 2022-2030.

Based on route of administration, the Asia Pacific fish vaccines market is categorized into injection vaccine, immersion vaccine, and oral vaccine. The injection vaccine segment held 59.5% share of Asia Pacific fish vaccines market in 2022, amassing US$ 27.89 million. It is projected to garner US$ 55.71 million by 2030 to expand at 9.0% CAGR during 2022-2030.

Based on species, the Asia Pacific fish vaccines market is categorized into salmon, trout, tilapia, and others. The salmon segment held 71.2% share of Asia Pacific fish vaccines market in 2022, amassing US$ 33.37 million. It is projected to garner US$ 66.36 million by 2030 to expand at 9.0% CAGR during 2022-2030.

Based on country, the Asia Pacific fish vaccines market has been categorized China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific. Our regional analysis states that Japan captured 28.9% share of Asia Pacific fish vaccines market in 2022. It was assessed at US$ 13.54 million in 2022 and is likely to hit US$ 28.10 million by 2030, exhibiting a CAGR of 9.6% during 2022-2030.

Key players operating in the Asia Pacific fish vaccines market are Choong Ang Vaccine Laboratories Co.; Elanco Animal Health Inc; Hipra SA; INDIAN IMMUNOLOGICALS LTD; KBNP Inc.; Kyoto Biken Laboratories; Merck & Co Inc.; Nisseiken Co., Ltd.; Phibro Animal Health Corp; Vaxxinova International BV; and Zoetis Inc., among others.

- In Nov 2020, IIL partners with CIFE to develop the first fish vaccine.

- In July 2020, Zoetis Acquires Fish Vet Group to Enhance Aquaculture Diagnostic Capabilities.

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