Due to excessive stocking densities, low oxygen levels, poor water quality, and high pathogen loads, the fish culture environment, whether it be in tanks, cages, ponds, seawater, or freshwater, can stress the fish. As a result, farmed fish are more susceptible to infectious diseases than farmed animals. These illnesses could have bacterial, viral, fungal, or parasitic causes. The most effective defense against viral and bacterial illnesses is vaccination. In the fight against infectious illnesses, vaccine has been a crucial instrument for the livestock, pig, poultry, and salmon industries.
Market players are focused on strategies such as acquisitions, which is expected to drive the growth of the global fish vaccine market over the forecast period. For instance, in December 2018, Phibro Animal Health Corp., a manufacturer of vaccines and medicated feed additives, acquired aquaculture vaccine maker KoVax Ltd. The acquisition strengthened the position of Phibro Animal Health Corp. in fish vaccine innovation and expanded its portfolio of aquaculture products.
Increasing research and development activities related to fish vaccine is expected to fuel the growth of the global fish vaccine market. For instance, in 2018, Lumen Bioscience, a biotechnology company, initiated the next phase of a project to develop an oral vaccine, in order to protect farmed salmonid fish such as trout and salmon from infectious hematopoietic necrosis virus (IHNV). In the same year, the company received a grant from the U.S. Department of Agriculture (USDA).
Market players are engaged in inorganic activities such as partnerships, which is expected to augment the global fish vaccine market growth over the forecast period. For instance, in 2017, Barramundi Group, a marine health company, entered into partnership with WWF-Singapore (World Wide Fund) to improve its Singapore farm sites in view of adding the Aquaculture Stewardship Council (ASC) standard to its list of accolades. Under this agreement, WWF-Singapore will provide advice and guidance in terms of the implementation of the aquaculture improvement work plan, as well as mark out milestones to address gaps between current practices and the ASC standard.
Key features of the study:
“*” marked represents similar segmentation in other categories in the respective section.
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*Key pointers provided are also applicable to other companies covered in the scope of the report.
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