Research Nester released a report titled “Fish Vaccines Market: Global Demand Analysis & Opportunity Outlook 2027” which delivers detailed overview of the global fish vaccines market in terms of market segmentation by vaccine, by fish species, by route of administration and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
Increasing production of fish, especially through aquaculture, is a significant factor responsible for the growth of fish vaccines market. The market is estimated to grow with a CAGR of 6.5% during the forecast period, i.e., 2019-2027. The market is segmented by vaccines, by fish species, by route of administration and by region, out of which, the route of administration segment is further segmented into injection, oral and immersion.
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Fish vaccines market in Europe is estimated to significantly impact the market growth as a result of increasing aquaculture activities prevalent in the region along with rising demand for fish consumption. The market in North America is anticipated to grow on the back of expanding use of vaccines for fish farming and high expenditure on research and development activities in the region, mainly in countries such as Canada. According to UNESCO Institute of Statistics, the expenditure on research and development in Canada was estimated to be around 1.52% of its GDP in 2017.Additionally, Asia pacific region is estimated to observe a notable market growth during the upcoming years on account of growing consumption of various fish species.
Environmental-Friendly Nature OfVaccines To Boost The Market Growth
Vaccines, being natural biological products, are safe to use and do not cause any harm to the fish as well as the surrounding environment. This makes them highly favorable as opposed to chemical antibiotics, which is a factor estimated to lead to the growth of fish vaccines market. The development of improved vaccines on account of rising advancements in technology is another factor anticipated to support the market growth.
The strict government policies for the approval of fish vaccines in the market is estimated to restrict the market growth during the forecast period.
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