Aquaculture Vaccines Market Size

Aquaculture Vaccines Market Size

Aquaculture Vaccines Market size surpassed USD 214.6 million in 2022 and is estimated to witness 7.6% CAGR between 2023 and 2032. Aquatic food consumption is on the rise because of increased supply, evolving consumer preferences & tastes, technological advancements, and wage inflation. Hence, the rising aquaculture industry is likely to boost the demand for aquaculture vaccines for higher production, fuelling the global market demand throughout the forecast period.

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Additional factors likely to have a major impact on the development of the aquaculture vaccines market include the rising frequency of infectious diseases among marine animals and new product advancements made by industry participants to treat these diseases. Thus, the introduction of new aquaculture vaccines to the market is further anticipated to spur market expansion.

The production and commercialization of aquaculture vaccines may be hampered by stringent regulatory frameworks governing vaccine approvals. Some governments and public entities have issued recommendations to guarantee the safe and successful use of fish farming vaccinations. Moreover, firms are quickly implementing In Process Quality Control (IPQC) and Good Manufacturing Practices (GMP) (GMPs). Vaccine clearance procedures governed by the US Food and Drug Administration and the European Union are time-consuming and inhibit new market entrants. Before any vaccine is certified for aquacultural use, it must undergo extensive impact surveillance and pharmacovigilance.