Global
marine
biotechnology market is anticipated to witness an exponential growth in
the forecast period. Marine Biotechnology refers to a developing field
encompassing materials technology, marine biomedicine, bioinformatics, marine
biomedical model organisms, bioremediation, molecular genetics, genomics, and
others.
The
factors that propel the growth of the market include increasing demand for
natural compounds in cosmetic industry, the surge in demand for biofuel, rising
healthcare segment, and fast growth and increasing healthcare industry. On the
other hand, there is a factor that may hamper the growth of the market
including lack of R&D investment in biotechnology. Marine biotechnology
market is anticipated to expand at a significant CAGR of 7.15% in the upcoming
period as the scope, product types, and its applications are increasing across
the globe.
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The
market could be explored by type, product type, technology, application, end
user and geography. Market could be explored by type as Marine Plant Technology
and Marine Animal Technology. Market could be explored by product type as
bioactive substances, Biomaterial, and Others. The “Biomaterial” segment led
the marine biotechnology market in 2017 and will continue to lead in the
forecast period. The key factor that may be attributed to the growth of the
market includes rising demand for high quality and sustainable products in the
market. Based on technology, the market could span Culture-independent
techniques, Large-scale implementation and Enrichment, and isolation and
cultivation of microorganisms.
The
key applications that could be explored in the market include Cosmetics,
Pharmaceuticals, Nutritional Supplements, and Fine Chemical. The “Cosmetics”
segment led the marine biotechnology market in 2017 and will continue to lead
in the forecast period. The key factors that may be attributed to the growth of
market includes increasing investment by key players and other aspects like
dietary and healthy supplements because they are rich in proteins, amino acids,
vitamins, and minerals etc. The market could be explored based on the end user
as Healthcare/Biotechnology, Industrial products, Energy & Infrastructure,
Consumers’ products, and Others.
North
America accounted for the major share of the marine biotechnology market in
2017 and will continue to lead in the forecast period. The factors that could
be attributed to the growth include growing funding for R&D to develop
novel drugs from bio-based products, increasing focus on the manufacture of
algae-derived biotechnology and increasing the consciousness about the benefits
of marine-derived products. North America is followed by Asia-Pacific and
European region.
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Market Segment:
This report focuses on the global top
players, covered
•
Marinova
•
NEB
•
BiotechMarine
•
GlycoMar
•
Marine Biotech
•
Nofima
•
Sams
•
Aquapharm
Market segment by Regions/Countries, this
report covers
•
United States
•
Europe
•
China
•
Japan
•
Southeast Asia
•
India
Market segment by Type, the product can
be split into
•
Marine Animal Technolog
•
Marine Plant Technology
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