Report : North America Aquaculture Vaccines Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Type of Vaccine (Live Vaccine, Inactivated Vaccine, and Others), Species (Tilapia, Trout, Salmon, Shrimps, and Others), and Route of Administration (Injection Vaccines, Immersion Vaccines, and Oral Vaccines)
At 12.7% CAGR, the North America Aquaculture Vaccines Market is speculated to be worth US$ 256.32 Million by 2028, says Business Market Insights
According to Business Market Insights’ research, the North America aquaculture vaccines market was valued at US$ 125.36 million in 2022 and is expected to reach US$ 256.32 million by 2028, registering a CAGR of 12.7% from 2022 to 2028. Growing aquaculture industry and surging demand for aquatic animal-derived food products are the critical factors attributed to the north america aquaculture vaccines market expansion.
The growing demand for aquatic animal-derived food products such as oil, caviar, protein powders, and meat encourages farmers to use vaccinations for aquaculture to gain high profitability. Consumers are becoming aware of the nutritious value of animal protein. The demand for healthy, sustainable, and high-quality meat products with fewer or no drugs is also increasing rapidly.
Regular fish consumption is widely promoted as a part of a healthy diet. Fishes have a high protein content compared to terrestrial animal meat and have a lower feed conversion rate (FCR) than land animals, and more protein can be produced using this lower feed rate from fish. Furthermore, fish protein is highly digestible and rich in essential amino acids that are low in animal-sourced protein. Fish and shellfish consumption can decrease the risk of heart disease, inflammation, and arthritis. The health benefits of fish are mainly linked to the presence of long-chain omega 3 (n-3) polyunsaturated fatty acids (PUFA). In addition, fish protein is a rich source of bioactive peptides. These can offer many positive health benefits if they are consumed in an appropriate concentration and bioavailable within the human body. Further, health benefits include the control of blood pressure through the inhibition of enzymes within the renin-angiotensin-aldosterone system (RAAS); maintenance of bone health; control of inflammation (antioxidant peptides), mental health through the action of opioid peptides and platelet-activating factor acetyl-hydrolase inhibitory (PAF-AH) peptides), and several other bioactivities. Thus, the need for healthy breeding of aquatic animals is increasing, propelling the demand for aquaculture vaccines.
On the contrary, longer life span of aquaculture vaccines hurdles the growth of North America aquaculture vaccines market.
Based on type of vaccine the North America aquaculture vaccines market, is segmented into live vaccines, inactivated vaccines, other vaccines. The inactivated vaccines held 71.8% market share in 2022, amassing US$ 90.03 million. It is projected to garner US$ 183.31 million by 2028 to expand at 12.6% CAGR during 2022–2028.
Based on species, the North America aquaculture vaccines market is divided into tilapia, trout, salmon, shrimps, and others. The salmon held 42.8% market share in 2022, amassing US$ 53.62 million. It is projected to garner US$ 111.61 million by 2028 to expand at 13.0% CAGR during 2022–2028.
Based on route of administration the North America aquaculture vaccines market, is segmented into injection vaccines, immersions vaccines, and oral vaccines. The injection vaccines held 41.5% market share in 2022, amassing US$ 52.07 million. It is projected to garner US$ 107.27 million by 2028 to expand at 12.8% CAGR during 2022–2028.
Based on country, the North America aquaculture vaccines market is segmented into the US, Canada, and Mexico. Our regional analysis states that the US captured 76.4% market share in 2022. It was assessed at US$ 95.78 million in 2022 and is likely to hit US$ 196.13 million by 2028, exhibiting a CAGR of 12.7% during the forecast period.
Key players dominating the North America aquaculture vaccines market are AquaTactics Fish Health; HIPRA SA; Merck & Co Inc.; Zoetis Inc.; Phibro Animal Health Corp; and Elanco Animal Health Inc. and among others.
Contact Us
Contact Person: Sameer Joshi
Phone: +1- 646- 491- 9876
Email id: sam@businessmarketinsights.com