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Global Marine Biotechnology Market was Worth US$ 1.2 Bn in 2021 and is Expected to Reach CAGR of 7% over the forecast period: A Report by Absolute Markets Insights

Published On 13 Oct 2022 12:13 PM


Most of the answers for our questions lie in the nature.  As all living creatures exists in one eco system, they are completely dependent on each other and this remains true in the case of marine life. The ocean is full of possibilities and yet the humans are unable to tap its full potential. The process of creating products & processes with the help of marine organisms by use of biotechnology, bioinformatics along with molecular and cell biology is known as marine biotechnology. This technology is tremendous important in an attempt to understand true potential of marine bio-resources. Use of marine biotechnology is being used extensively to battle several problems related associated with energy, food and medicines. The healthcare sector has been trying to reap maximum benefits out of the marine life. Each passing day, leading pharmaceutical companies and medical research are conducting research program to fully utilize the plants and resources found in seas and oceans.

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The growth of the global marine biotechnology market went downhill during the COVID-19 pandemic. Research activities across the globe were halted in an attempt to find cure for the highly infectious coronavirus. One of the major factor that drives the growth of the global marine biotechnology market is continuously increasing usage of marine biotechnology for the development of biofuels. In order to bring down the levels of pollution across the globe, new types of fuel are being sought. Also, the fact that several end use industries are using this technology also contributes to this market’s growth.

Growing concerns related to fluctuations in the prices of products created through biotechnology dent the growth of the global marine biotechnology market. On the other hand, the growing demand for eco-friendly products is the reason why the global marine biotechnology market is forecasted to witness massive growth over the period of next few years.

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Global Marine Biotechnology Market Report Findings: 

  • The medicine segment accounts for majority of revenue generated by the global marine biotechnology market.
  • Biofuels segment is forecasted to witness rapid growth for the global marine biotechnology market as demand for conventional fuels is slumping in wake of rising levels of pollutions across the globe.
  • Several research companies and pharmaceutical companies are relentlessly trying to tap the full potential of resources found under water with the help of marine biotechnology
  • The region of North America is forecasted to see tremendous growth for the global marine biotechnology market, that too at a quicker pace. Spending capacity of companies in the United States and Canada is on higher side. Also, federal governments are encouraging companies to use alternative sources of energy.

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A few of the key players operating in the global marine biotechnology market are listed below:

  • Algenuity Limited
  • Aquapharm
  • GlycoMar Ltd
  • International Flavors & Fragrances Inc. (Novamatrix)
  • Lonza
  • Marine Biotech Limited MBL
  • oceanBASIS GmbH
  • PharmaMar
  • The Hebridean Seaweed Company
  • Other Market Participants

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Global Marine Biotechnology Market  

By Offering                            

  • Pharmaceutical drugs
    • Cephalosporin
    • Squalamine
    • Vidrabine/ Ara-A
    • Cytarabine/ Ara-C
    • Ziconotide
    • Trabectedin
    • Eribulin mesylate
    • Others
  • Chemical products
  • Enzymes
  • Other products and processes

By Applications

  • Aquaculture and Fishery
  • Reproduction
  • Nutrition
  • Health Management
  • Vaccines
  • Growth Promotion
  • Medicine
    • Antibiotic
    • Antiviral
    • Anticancer
    • Analgesic
    • Others
  • Biofuel
  • Others

By Region

  • North America (U.S., Canada, Mexico, Rest of North America)
  • Europe (France, The UK, Spain, Germany, Italy, Nordic Countries (Denmark, Finland, Iceland, Sweden, Norway), Benelux Union (Belgium, The Netherlands, Luxembourg), Rest of Europe
  • Asia Pacific (China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia (Indonesia, Thailand, Malaysia, Singapore, Rest of Southeast Asia), Rest of Asia Pacific
  • Middle East & Africa (Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest of Middle East & Africa)
  • Latin America (Brazil, Argentina, Rest of Latin America)  

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Press Release Provided By: Absolute Markets Insights