North America Fish Vaccines Market

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 Strategic Insights

Strategic insights for the North America Fish Vaccines provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

North America Fish Vaccines Report Scope

North America Fish Vaccines Regional Insights

The geographic scope of the North America Fish Vaccines refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.

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.