The North America fish vaccines market was valued at US$ 160.22 million in 2022 and is expected to reach US$ 268.07 million by 2030; it is estimated to grow at a CAGR of 6.6% from 2022 to 2030.
Government Initiatives to Develop Aquaculture Industry Fuel the North America Fish Vaccines Market
Aquaculture grows exponentially due to the high demand for seafood and decreasing annual catch of wild fish. Thus, governments are taking initiatives to improve and support the growth of the aquacultural industry. Following are a few recent initiatives:
In February 2021, the Foundation for Food & Agriculture Research (FFAR) funded US$ 790,326 to create a delivery system for a vaccine that can help stop the tilapia lake virus and other diseases from spreading in the aquaculture sector.
Sea Grant Marine Aquaculture Grant Program: This nationwide competitive grant program, officially known as the "National Marine Aquaculture Initiative (NMAI)," promotes research and demonstration initiatives to advance sustainable marine aquaculture in the US.
NOAA Small Business Innovation Research (SBIR) Program: NOAA's SBIR program, which promotes small firms to use federal funds to invest in cutting-edge technologies and next-generation products and processes that can lead to commercialization, supports investments in aquaculture research and development.
Some other programs include the NOAA Fisheries Finance Program, Marine Fisheries Initiative (MARFIN), and other regional pilot projects.
In 2022, the USDA National Institute of Food and Agriculture (NIFA) announced a research investment of more than US$ 13 million to investigate new treatments and preventative measures for animal illnesses that cost the global agriculture sector billions of dollars. This included a US$ 625,000 grant to Mississippi State University to assess an antibacterial feed additive that can be used to prevent enteric septicemia in catfish in a secure and useful manner. This study will contribute to developing aquaculture producers' treatment alternatives, improving production efficiency.
Thus, an increase in government initiatives to support developments in the aquaculture industry drives the fish vaccine market growth.
North America Fish Vaccines Market Overview
The North America fish vaccines market is segmented into the US, Canada, and Mexico. The market growth in this region is attributed due to the growing aquaculture industry and surging demand for aquatic animal-derived food products. According to the National Oceanic and Atmospheric Administration, aquaculture generate ~US$ 1.5 billion annually in the US. According to the World Bank, the US produced ~448 thousand metric tons aquacultural products. As per the same source, about 5.6 million fish were produced in 2021 in North America, of which ~4.7 million is produced in the US, which is ~83% of the total region fish production. Thus, the increase in aquaculture production in the US is fueling the growth of the fish vaccines market.
North America Fish Vaccines Market Revenue and Forecast to 2030 (US$ Million)
North America Fish Vaccines Market Segmentation
The North America fish vaccines market is segmented based on vaccine type, application, route of administration, species, and country.
Based on vaccine type, the North America fish vaccines market is segmented into inactivated vaccines, live attenuated vaccines, subunit vaccines, recombinant vector vaccine, and others. The inactivated vaccines segment held the largest market share in 2022.
Based on application, the North America fish vaccines market is segmented into bacterial infection, viral infection, and parasitic. The bacterial infection segment held the largest market share in 2022.
Based on route of administration, the North America fish vaccines market is segmented into injection vaccine, immersion vaccine, and oral vaccine. The injection vaccine segment held the largest market share in 2022.
Based on species, the North America fish vaccines market is segmented into salmon, trout, tilapia, and others. The salmon segment held the largest market share in 2022.
Based on country, the North America fish vaccines market is segmented into the US, Canada, and Mexico. The US dominated the North America fish vaccines market share in 2022.
Elanco Animal Health Inc, Hipra SA, Merck & Co Inc., Phibro Animal Health Corp, Vaxxinova International BV, and Zoetis Inc. are some of the leading companies operating in the North America fish vaccines market.
| Report Attribute | Details |
|---|---|
| Market size in 2022 | US$ 160.22 Million |
| Market Size by 2030 | US$ 268.07 Million |
| CAGR (2022 - 2030) | 6.6% |
| Historical Data | 2020-2021 |
| Forecast period | 2023-2030 |
| Segments Covered |
By Vaccine Type
|
| Regions and Countries Covered |
North America
|
| Market leaders and key company profiles |
|
1. Elanco Animal Health Inc
2. Hipra SA
3. Merck & Co Inc.
4. Phibro Animal Health Corp
5. Vaxxinova International BV
6. Zoetis Inc.
The North America Fish Vaccines Market is valued at US$ 160.22 Million in 2022, it is projected to reach US$ 268.07 Million by 2030.
As per our report North America Fish Vaccines Market, the market size is valued at US$ 160.22 Million in 2022, projecting it to reach US$ 268.07 Million by 2030. This translates to a CAGR of approximately 6.6% during the forecast period.
The North America Fish Vaccines Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the North America Fish Vaccines Market report:
The North America Fish Vaccines Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The North America Fish Vaccines Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the North America Fish Vaccines Market value chain can benefit from the information contained in a comprehensive market report.
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