Indian Immunologicals Ltd diversifies into aquaculture health market

Hyderabad, Oct 4 (SocialNews.XYZ) Indian Immunilogicals Limited (IIL), which produces multiple types of vaccines for various species such as humans, sheep, goats, pigs and companion animals, has now forayed into the aquaculture health segment.

Targeting the growing needs of farmed fish and prawn sectors in the country, IIL launched its new line of aquaculture health products on Tuesday. IIL's foray into aquaculture segment will be in multiple phases comprising different products, including vaccines.

The aquaculture segment comprises fish and shrimp. Shrimp farming has been a huge success in India. 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. India's global market share in shrimp business is 14 per cent. India's annual shrimp production is around 600,000 metric tonnesm, which aggregates to more than $3 billion with a CAGR of 32 per cent since 2010, a company release stated.

India's shrimp industry primarily includes two species, white leg shrimp and black tiger shrimp. Approximately 40 per cent shrimp is exported to the US, followed by 30 per cent to Vietnam and nearly 15 per cent to the European Union. The export market strictly demands antibiotic-free products, IIL stated.

Managing Director of IIL, K. Anand Kumar, said, "IIL is committed to introducing products including vaccines that will significantly reduce the usage of antibiotics in the aqua health industry."

Priyabrata Pattnaik, Deputy Managing Director of IIL, added, "IIL with its strong R&D team has all the technological capabilities to manufacture vaccines for aqua health management."

Source: IANS