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The Global Fish Vaccine Market Growth Accelerated By Rising Global Demand For Prevention Of Fish Diseases

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ashwinicmi
The Global Fish Vaccine Market Growth Accelerated By Rising Global Demand For Prevention Of Fish Diseases

Fish vaccines are biological preparations used to prevent infectious diseases affecting fish such as viruses, bacteria and parasites. They help protect farmed fish and shrimp populations from mortalities and economic losses caused by infectious diseases.

The global fish vaccine market is estimated to be valued at US$ 265.4 Mn in 2023 and is expected to exhibit a CAGR of 5.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends: The rising global demand for prevention of fish diseases is one of the key trends driving the growth of the fish vaccine market. Fish farming is becoming increasingly important to meet the rising demand for seafood. However, intensive aquaculture also increases the risk of disease outbreaks which can lead to huge economic losses if not prevented or controlled. Vaccines help promote sustainable aquaculture practices by protecting fish from infectious diseases. This reduces treatment and mortality costs and guarantees food safety. Hence, farmers are increasingly adopting vaccination to minimize the impact of diseases on fish production.


Segment Analysis

The global fish vaccine market is dominated by the ornamental segment. Ornamental fish farming is a booming industry and contributes significantly to the market revenues. Ornamental fish are at high risk of contracting infectious diseases owing to high density farming practices. Vaccines help curb the spread of diseases and are extensively used in ornamental fish farms.

Key Takeaways

The Global Fish Vaccine Market Size is expected to witness high growth over the forecast period of 2023 to 2030. The market size is projected to reach US$ 265.4 Mn by 2023 from US$ 200 Mn in 2020, registering a CAGR of 5.7% during 2023-2030.

Regional analysis

The Asia Pacific region currently dominates the global fish vaccine market and is expected to continue its dominance through the forecast period. extensive fish farming in countries like China, India, Vietnam contributes to the large market size of the region. High risk of infectious disease outbreaks due to intensive fish farming practices drives the adoption of vaccines.

Key players

Key players operating in the fish vaccine market are Bayer AG, BASF SE, Syngenta AG, DuPont de Nemours Inc., ADAMA Ltd., Arysta LifeScience, Nufarm, Nissan Chemical Industries Ltd., Shandong Binnong Tech Co Ltd., FMC Corporation, Monsanto Company, UPL, Bhaskar Agrochemicals Ltd., Dhanuka Agritech Limited, and Insecticides (India) Ltd. Companies are focusing on developing novel vaccines for newly emerging diseases.


Get more insights on this topic:

https://www.marketwebjournal.com/fish-vaccine-market-market-size-and-share-analysis/

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