The South & Central America fish vaccines market was valued at US$ 21.25 million in 2022 and is expected to reach US$ 37.35 million by 2030; it is estimated to grow at a CAGR of 7.3% from 2022 to 2030.
Development of Novel Fish Vaccine Fuel the South & Central America Fish Vaccine Market
Emergence of disease outbreak caused by parasites, viruses, and bacteria have slowed down the evolution of the global aquaculture industry for several decades. Aside from being harmful to human health, emerging diseases have a significant impact on aquatic animals. Traditional vaccines have limitations and drawbacks, which bolsters the demand for the development of novel advanced vaccines such as chimeric multiepitope vaccines. Newer avenues in the basic and applied research fields of aquatic vaccines have been opened up by scientific and technological advancements. An effort has been made to create novel aquatic vaccines with higher quality and efficiency using new technologies, approaches, and strategies. Using the available bioinformatics tools and current knowledge of immunoproteomics and genomics, researchers can identify potential targeted epitopes that immune cells can recognize. Further, as the cost of techniques such as whole genome sequencing continues to decline, it opens the way for species-specific vaccine development. This is likely to boost investments in developing new vaccines. Thus, the development of an effective mucosal vaccine with strengthening the administration process is expected to accelerate the novel vaccine development, which would boost the aquaculture businesses in Mediterranean countries to regularize fish vaccination processes. Hence, development of novel fish vaccines is likely creating significant opportunity for market growth.
South & Central America Fish Vaccines Market Overview
South & Central America fish vaccines market includes Brazil, Argentina, Chile, and Rest of South & Central America. The market for fish vaccines in the region is expected to have growth opportunities during the forecast period. The fish vaccines market in the South & Central America region is expected to grow owing to factors such as, an increase in cases of infectious diseases in fishes in the region and increasing fish consumption drive the market in the region. The Argentina government has been focusing on developing its aquaculture facilities to decrease the import of fish and make the country self-sufficient in food. In August 2021, the Argentinian government planned to work with China to develop its aquaculture and potential aquafeed sectors. This partnership seeks to launch a series of initiatives aimed at strengthening the capacities and competencies of this sector through concrete bilateral actions focused on increasing production. Argentina's national director of aquaculture, Guillermo Abdala, estimated aquaculture could generate revenue of at least US$ 1.8 billion (EUR 1.5 billion) annually for the South American nation. At the same time, the initiatives are strategically designed for the intelligent use of the environment and aquatic and hydrobiological resources. Thus, the rising consumption of seafood and growing government efforts are likely to be the major factors driving the growth of the fisheries and aquaculture sector.
South & Central America Fish Vaccines Market Revenue and Forecast to 2030 (US$ Million)
South & Central America Fish Vaccines Market Segmentation
The South & Central America fish vaccines market is segmented based on vaccine type, application, route of administration, species, and country.
Based on vaccine type, the South & Central 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 South & Central 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 South & Central 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 South & Central 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 South & Central America fish vaccines market is segmented into Argentina, Brazil, and the Rest of South & Central America. The Rest of South & Central America dominated the South & Central 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 South & Central America fish vaccines market.
| Report Attribute | Details |
|---|---|
| Market size in 2022 | US$ 21.25 Million |
| Market Size by 2030 | US$ 37.35 Million |
| CAGR (2022 - 2030) | 7.3% |
| Historical Data | 2020-2021 |
| Forecast period | 2023-2030 |
| Segments Covered |
By Vaccine Type
|
| Regions and Countries Covered |
South and Central 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 South & Central America Fish Vaccines Market is valued at US$ 21.25 Million in 2022, it is projected to reach US$ 37.35 Million by 2030.
As per our report South & Central America Fish Vaccines Market, the market size is valued at US$ 21.25 Million in 2022, projecting it to reach US$ 37.35 Million by 2030. This translates to a CAGR of approximately 7.3% during the forecast period.
The South & Central 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 South & Central America Fish Vaccines Market report:
The South & Central America Fish Vaccines Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The South & Central America Fish Vaccines Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the South & Central America Fish Vaccines Market value chain can benefit from the information contained in a comprehensive market report.
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