Industry News

Marine Biotechnology Market is Projected to Reach USD 4.8 bn by 2020: GIA

Published on 2015-02-20. Author : SpecialChem

GIA announces the release of a comprehensive report on marine Biotechnology. The marine biotechnology is projected to reach USD 4.8 BN by 2020, driven by the rising global focus on environmental sustainability and 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. Developments 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, environmental sustainability, industrial activities 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 of environmentally safe, bio derived feed stock 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 the commercial scale is the development of Marine derived resources. 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 imp role in improving healthcare by assisting researchers in exploring new compounds and materials with potent uses and 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, anti-fouling technologies, anti-corrosive coatings, and self-cleaning services.

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 bio energy. 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 regions 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 & Nutrition, GlycoMar ltd., Jazz pharmaceuticals plc, Lonza group ltd., Marinova Pty ltd., New England Biolabs Inc., Sea Run Holdings and others.

The research report titled “Marine Biotechnology: A Global Strategic Business Report” announced by GIA, 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 USD for geographic markets such as US, Canada, Japan, Europe, Asia-Pacific and Rest of World. The report analyses the global market by product segments (Biomaterial, Bioactive substances and others) and by end use applications (Industrial Products, Consumer Products, Public Services & Infrastructure and others). 

About GIA

Global Industry Analysts, Inc. (GIA) is a reputed publisher of off-the-shelf market research. Recognized as one of the most consistently accurate forecasting company in the world, GIA currently serves more than 9,500 companies from 36 countries worldwide. The company was founded in 1987, initially recognized globally as a research boutique specializing in the medical industry. Over the past 27 years, the company expanded its coverage and now publishes extensively upon more than 180 major industries.

Source: GIA

Omya Calcium Carboantes
Back to Top