Indian Immunologicals announces its foray into Aquaculture health market
IIL’s foray into aquaculture segment will be in multiple phases comprising multiple products, including vaccines
Indian Immunologicals has forayed into Aquaculture health segment with the launch of its products to serve the growing need in farmed shrimp and fish in the country. The company’s foray into aquaculture segment will be in multiple phases comprising multiple products, including vaccines, a statement from Indian Immunologicals notified.
It also said that the farmed shrimp industry is expected to grow by 11 per cent against a global growth rate of 5.6 per cent. India has established itself as the second largest farmed-shrimp producer in the world. The country’s global market share in shrimp business is 14 per cent. Its annual shrimp production is around 600,000 metric ton that aggregates to more than $3 billion with a CAGR of 32 per cent since 2010.
Further, Dr K Anand Kumar, Managing Director, IIL, said in the statement, “IIL is committed to introducing products, including vaccines that will significantly reduce the usage of antibiotics in the aqua health industry.”
Adding to it, Dr Priyabrata Pattnaik, Deputy Managing Director, IIL, also claimed, “IIL, with its strong R&D team, has all the technological capabilities to manufacture vaccines for aqua health management.”
IIL, as a one health company, produces multiple types of vaccines for multiple species such as human, cattle, ship and goats, pigs, and companion animals, the statement concluded.