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A vaccine is a substance that is intended to establish or improve the consumers’ immunity towards a disease. Vaccines have been used in humans, companion animals, and terrestrial livestock against a variety of diseases.
Disease is the biggest challenge in the aquaculture field. General management and favorable husbandry comprises of immunity, genetics, system management, nutrition, and water quality are the most important factors to enlarge the aquatic animal healthcare. The perfect vaccine should be secure enough for the fish, the person(s) vaccinating the fish, as well as for the end-user and it also protects against various pathogens and also helps protect against any disease. It also delivers enduring protection for the complete life cycle. These vaccines are manufactured in such a way that the application is easier and can be applied to various fish species simultaneously. These vaccines also need to be at an optimal cost and should be approved and registered in the FDA.
COVID-19 scenario analysis:
The coronavirus pandemic is having a huge impact on businesses and has already caused an unprecedented collapse of economic activities. The COVID-19 impact is straining the healthcare systems globally. The rapidly increasing demand for healthcare facilities and healthcare workers may leave only a few healthcare systems to fulfill the increasing demand during the pandemic situation.
The COVID-19 pandemic cases are because of direct or indirect contact between humans. There has been no evidence or confirmation that animals can spread COVID-19 to humans. The myth animals can spread the virus to humans has increased the number of abandoned pets. Furthermore, COVID-19 has weakened the supply chain and has created a shortage of animal health products such as nutritional feed as well as vaccines globally. The animal health industry has been impacted largely as many manufacturers in the animal health industry are left with a significantly reduced workforce. Also, stringent government policies such as restrictions of import of raw materials from China are expected to hamper the animal health market.
Healthcare facilities are stocking up the animal-related health products, considering the high demand. This is expected to further create a financial strain on the market due to procurement inefficiencies and wasted speeding. Due to the pandemic situation, many hospitals and veterinary clinics are overstocking the products.
Owing to such factors, COVID 19 is expected to have a significant impact on the aquaculture vaccines market.
Improvement in the quality of vaccines by aquaculture breeders, appropriate guidelines, and restriction over the use of these vaccines laid by the nations are helping improve the selection and application of aquaculture vaccines. Moreover, the improvement of vaccines for aquaculture is growing the market positively. New and fast-growing vaccination research to cure virus and bacteria related diseases are expected to drive the market development. Manufacturers are now focusing on the transmission and development of the vaccines. Various research programs for the development of vaccines are expected to drive the market further.
On the other hand, strict policies and regulations required for the vaccines to enter the market is a challenge for the aquaculture market. Moreover, the development process of the vaccines is far more complex and time-consuming which is hampering the growth of the market.
On December 6th, 2018, Phibro Animal Health Corporation was acquired by KoVax Ltd. Phibro with the help of KoVax entered in the aquaculture vaccines market and it helped strengthen Phibro’s position in the fish vaccine innovations market.
On June 16th, 2016, Norwegian fish health firm PharmaQ ran a test on its live salmon rickettsial septicemia (SRS) vaccine on 20 million young Chilean fish, which was already approved.
On January 3rd, 2017, PharmaQ acquired Nordland Sett Vaks which helped them strengthen their fish vaccine portfolio.
There are various distributors, online stores, retail, and aqua stores who sell aquaculture vaccines. Online pharmacies are the biggest consumers among them. A large variety of vaccines have been catered for various diseases in aquatic animals which are helping in contributing to the demand. Moreover, there is considerable growth in online shopping. These factors will boost the online stores and are contributing to the market expansion.
Key benefits of the report:
Questions answered in the Aquaculture vaccines Market research report:
Key Market Segments
Key Market Players
