Aquaculture Pharmaceuticals Market 2021 Research Study By Key Players: Eli Lilly and Company, Intervet Inc, Bayer AG and Zoetis, Inc.

Precision Business Insights published a research report on "Aquaculture Pharmaceuticals Market: By Product type (Biologics, Parasiticides, Anti-infectives, Reproduction, and Others), Species (Carps, Salmon, Tilapia, Shrimp, Catfish, Trout, and Others) and Geography” - Global/Region/Country Forecast to 2027.

Glance our 200 slides market research and competitive intelligence research report, 25 Tables and 65 Figures and other qualitative sections with an in-depth TOC on "Aquaculture Pharmaceuticals Market: By Product type (Biologics, Parasiticides, Anti-infectives, Reproduction, and Others), Species (Carps, Salmon, Tilapia, Shrimp, Catfish, Trout, and Others) and Geography” - Global/Region/Country Forecast to 2027.

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Increasing Production of Farmed Fish and Lack of Generic Drugs fuelling the Aquaculture Pharmaceuticals Market

Pharmaceuticals play an important role in aquaculture for preventing and treating aquatic animals from different microbial infections. There are different industries in the market betting heavily on R&D programs for launching new drugs into the market for treating new infections in aquatic animals. For example, PHARMAQ, a part of Zoetis, Inc, made an investment to produce fish vaccines in new facility at Klofta in the year 2015.

Dearth of generic drugs to compete with inventor drugs makes possible for aquaculture pharmaceuticals manufacturers to obtain huge profits in the market. Furthermore, another factor expected to drive the aquaculture pharmaceuticals market is due to the global increase in the production of farmed fish as compared to the wild catch during the forecast period. The production of farm fish is increased to 70.2 Mn tonnes from 66.5 Mn tonnes in the year 2013 by almost 5.6% according to Food and Agriculture Organization of the United Nations (FAQ) estimates. Aquaculture industry is suffering from several microbial eruptions, which cause the death of several aquatic animals. Dearth of drugs to treat illnesses is also anticipated to hinder the market growth. Moreover, antibiotic resistance to the aquatic animals is another crucial factor, which can hinder the aquaculture pharmaceuticals market growth.

Impact of COVID-19 on Aquaculture Pharmaceuticals Market:
In addition, the report discusses the implications of COVID-19, including the industry's initial response and strategies for ensuring business continuity in the coming years.

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Asia Pacific is dominating the Aquaculture Pharmaceuticals Market
Asia Pacific is dominating the aquaculture pharmaceuticals market due to the increasing production of aquaculture. China is the biggest contributor for the production of aquaculture according to the Food and Agriculture Organization of the United Nations (FAQ) estimates. It recorded almost more than 70% of the total production of the world. This region is experiencing larger growth in the market due to the emerging countries such as India, Thailand, Vietnam and other ASEAN countries. These countries greatly contribute towards the growth of aquaculture pharmaceuticals market in Asia Pacific. Norway is the major market in Europe region for the aquaculture pharmaceuticals market.

Competitive Assessment
There are a few major players working in the global aquaculture pharmaceuticals market, which include Elanco (Eli Lilly and Company) (U.S.), Intervet Inc., (Merck & Co., Inc.,) (U.S.), Bayer AG (Germany) and PharmaQ AS (Zoetis, Inc.,). Key players of the aquaculture pharmaceuticals market are focusing more on bringing new drugs to the market and trying to expand their business into new regions an especially in Asia pacific region.

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