The Global Market for Marine Biotechnology is Projected to Reach US$4.8 Billion by 2020

Rising Focus on Environmental Sustainability Drives Growth in the Global Marine Biotechnology Market, According to a New Report by Global Industry Analysts, Inc.

GIA announces the release of a comprehensive global report on Marine Biotechnology. The global market for Marine Biotechnology is projected to reach US$4.8 billion by 2020, driven by the rising global focus on environmental sustainability and the ensuing increase in investments in marine biotechnology research.

Marine biotechnology is a discipline with huge potential, given the vast biodiversity of life in the oceans. Development of marine-derived extracts and compounds has the capability to significantly impact the field of cosmetics, pharmaceuticals, fine chemicals, nutritional supplements, and agrichemicals, among others. By studying marine organisms and resources, marine biotechnology seeks to provide potential solutions to address challenges related to food security, healthcare, industrial activities, environmental sustainability and preservation of marine resources. Marine ingredients are increasingly being used in food, agriculture and cosmetic industries. In the coming years, growth will be driven by the growing need for environmentally safe, bio-derived feedstock across a wide range of industries. Effervescent technology developments and the resulting availability of a diverse range of marine derived products will also help spur growth in the market. With environmental pollution throwing the spotlight on sustainable industrial development, there exists huge demand for suitable, scalable, economically, socially and environmentally sustainable feedstock options for the manufacturing industry.

One of the most successful applications of marine biotechnology on a commercial scale is the development of Marine derived drugs. In drug discovery, marine microbes are being researched as potential sources of drugs for the treatment of drug-resistant bacterial infections. Marine biomedicine is expected to play an important role in improving healthcare by assisting researchers in exploring new compounds and materials with potent uses in preventive therapeutics, personal care, nutraceuticals and health products. In the industrial sector, the technology flaunts the potential to help scientists develop and engineer non-toxic, affordable antifouling technologies, anti-corrosive coatings, and self-cleaning surfaces.

As stated by the new market research report on Marine Biotechnology, the United States represents the largest market worldwide. R&D projects in the country are focused on the production of algae-derived bioenergy. Europe is forecast to emerge as a major regional market, given the continent’s yet unexplored and underexploited marine resources. Of special importance is the application of marine biotechnology in the medical sector with the region’s pharmaceutical industry having already developed commercially viable marine derived drugs to treat a range of diseases including cancer. Asia-Pacific is forecast to grow at a compounded annual rate of 5.4% over the analysis period.

Major players covered in the report include Aker BioMarine AS, Aqua Bio Technology ASA, BASF SE, CP Kelco, Cyanotech Corp., FMC Health and Nutrition, GlycoMar Ltd., Jazz Pharmaceuticals plc, Lonza Group Ltd, Marinova Pty Ltd, New England Biolabs Inc, oceanBASIS GmbH, PharmaMar S.A, PML Applications Ltd., Prolume Ltd, Royal DSM N.V, Sea Run Holdings Inc., SEPPIC, and Tequesta BioVentures, among others.

The research report titled "Marine Biotechnology: A Global Strategic Business Report" announced by Global Industry Analysts, Inc., provides a comprehensive review of trends, issues, R&D initiatives, and strategic industry activities of major companies worldwide. The report provides market estimates and projections in US$ for geographic markets such as the United States, Canada, Japan, Europe, Asia-Pacific, and Rest of World. The report analyzes the global market by product segments (Biomaterials, Bioactive Substances and Others) and by end-use applications (Industrial Products, Health Care/Biotechnology, Consumer Products, Public Services & Infrastructure, and Others).

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