Global marine biotechnology market was valued US$ 4.5 Bn in 2017 and is expected to reach US$ 7.4 Bn by 2026, at a CAGR of 6.41% during a forecast period.
Global Marine Biotechnology Market
The global marine biotechnology market is segmented into the products, technology, end-uses, and region.
In terms of products, the global marine biotechnology market is classified into biomaterial, bioactive substances, and others. Based on the technology, the global marine biotechnology market is classified into culture-independent techniques, enrichment, isolation & cultivation of microorganisms, and large-scale implementation. Further end-uses, global marine biotechnology market are divided into industrial products, healthcare & biotechnology, consumer’s products, energy & infrastructure, and others.

Based on regions, the global marine biotechnology market is divided into America, Europe, Asia-Pacific, South America, and Middle East & Africa.

The huge amount of research prevailing for marine biodiscovery and new molecule identification are boosting the growth of the market. Marine biotechnology market is growing rapidly due to the booming healthcare industry as well as developing healthcare sector. Rising demand for marine biotechnology in the cosmetics industry, and developing healthcare sector is the key factor which drives the growth of the global marine biotechnology market. Fluctuations in prices of crude oil which directly affects the production cost and lack of research in oceans are restraining the growth of the marine biotechnology market.

Biomaterials are used in a broad range of applications like orthopedics, ophthalmic, wound healing, dental and cardiovascular application. A biomaterial is the fastest growing market due to rising demand for sustainable and high-quality products in the market.

Healthcare product segment accounted for the major share of the marine biotechnology market owing to the seaweeds and bacteria are essential biochemical that offer good potential to manufacture new class medicines. The pharmaceutical industry is growing to the rising demand for healthcare products, a Pharmaceutical segment will offer significant growth opportunities for players in the marine biotechnology industry.
North America is expected to hold the largest share during the forecast period, owing to the increasing growth of biomaterial-based medical applications such as knee implants, bone morph genic proteins, artificial ligaments, bone plates, and dental implants. An Asia-pacific market is anticipated to the fastest-growing region for the marine biotechnology market owing to the huge exports of marine food products dominate the Asia Pacific Marine biotechnology market.

Key players operating in global marine biotechnology market are ker Biomarine, Basf Se, Biolume Inc., Biotech Marine, Cp Kelco, Cyanotech Corporation, Fmc Health And Nutrition, Lonza Group Ltd., Marinova, New England Biolands Inc., Nutrex Hawaii, Pharmamar SA, Royal DSM N.V., Sea Run Holdings Inc., and Tequesta Marine Biosciences.
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Global Marine Biotechnology Market
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