The Global Marine Biotechnology market is anticipated to grow from $4532 million in 2017 to $7321 million by 2026, exhibiting a CAGR of 5.59% between the forecast years of 2018-2026. Marine organisms contain molecules which are not seen in the terrestrial environment, but which may prove helpful for developing new drugs for several diseases. The Marine Biotechnology market is primarily driven by the following factors:

• Marine biotechnology is majorly used in the cosmetic industry
• Marine biomaterial: new emerging area of research
• Developing healthcare sector

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The important driver increasing growth in the global marine biotechnology market is the developing healthcare sector. Various marine bioactive compounds are being developed into new drugs to treat cancer and pain.

The product segment of the marine biotechnology market is growing rapidly due to the booming healthcare industry. Biomaterials are used to replace soft or hard tissues which are destroyed or damaged. There is remarkable research going on biomaterial and its use in a broad range of applications like orthopedics, ophthalmic, wound healing, dental and cardiovascular application. Marine bioactive compounds are organic compounds produced by microbes, gorgonians, sponges, soft and hard corals seaweeds, and other marine organisms. These substances are the interest of research industries for new chemicals and drugs. Many marine organisms provide useful drugs. For instance, liver oil from fish enables rich sources of vitamins D, and A. Insulin can be extracted from tuna fish, whales, and a red alga. Algae and seaweeds are a source of omega-3 fatty acids.Omega-3 fatty acids EPA and DHA are known to minimize the risk of early death.

 Lack of research in oceans is restraining the growth of the marine biotechnology market. Life in the ocean, where development starts contains more key taxonomic groups (phyla); which have separate evolutionary path than those observed on the land. There is a limited knowledge regarding ocean bioresources, especially those in the deep ocean. Such complexities in terms of the innovation of marine bioresources significantly challenge the market growth. Thus, there is a need for new infrastructure and novelty of models in this market.

The Global marine biotechnology market segments include Products, Technology and End users.

Products are segmented into:

• Biomaterial
• Bioactive substances
• Others

End users are segmented into:

• Industrial products
• Healthcare/Biotechnology
• Consumers’ products
• Energy & Infrastructure
• Others

Technology is segmented into:

• Culture-independent techniques
• Enrichment, isolation and cultivation of microorganisms
• Large-scale implementation

This report covers the present market conditions and the growth prospects of the global marine biotechnology market for 2018-2026 and considered the revenue generated through the sales of marine biotechnology for products as well as end users.

Geographically, the global marine biotechnology market has been segmented on the basis of four major regions, which include:

• Marine Biotechnology North America Market – U.S. & Canada
• Marine Biotechnology Asia-Pacific Market – China, India, Japan, South Korea and Rest of APAC
• Marine Biotechnology Europe Market – UK, France, Germany, Spain, Italy, Nordics and Rest of Europe
• Rest of World- Latin America, Middle East and North Africa and Rest of Africa

The marine biotechnology market in North America is expected to hold the largest share by 2026, 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. Extensive research for marine biofuels has propelled the market of marine biotechnology in the North American countries. On the other hand, the Asia-Pacific market is anticipated to the fastest-growing region for the marine biotechnology market. Huge exports of marine food products dominate the Asia Pacific Marine biotechnology market. China is the world’s largest exporter of seafood; with 12% of share in total seafood exports globally. Other factors driving the marine biotechnology market are a huge amount of research prevailing for marine biodiscovery and new molecule identification.

The marine biotechnology market is segmented on the basis of end-users, who are further classified into industrial products, healthcare/biotechnology, consumer products, energy & infrastructure and others. The marine biotechnology market is also segmented based on the basis of technology which is sub-divided into culture-independent techniques, enrichment, isolation and cultivation of microorganisms and large-scale implementation. Culture-independent techniques such as functional based screening, small microsomal RNA (rRNA), gel microdroplets and others are extensively utilized in the identification of strains of microorganisms within an hour, without the need to culture or grow the organism in the laboratory. Enrichment, isolation and cultivation technology or simply culture based technology involves isolation of microbes by separating them from other species and preparation of pure culture with the help of enrichment media (both synthetic and non-synthetic) to favour their growth. Large-scale implementation involves culturing the marine microorganisms for the mass production of bioactive, biomaterials for commercial utilization with the help of bioreactors.

The major market players in the global marine biotechnology market are:

• Aker bio marine
• BASF
• Abbott
• Lonza
• New England Biolabs

Company Profiles covers analysis of important players.

Aker Bio-marine is a Norwegian company, established as an independent entity in 2006. Headquarter of the company is located in Oslo, Norway.  The company deals with krill-based nutrition supplements, pet food, and aquaculture products. The company has its presence in the US, Europe, India, China, and Australia. Another company, BASF SE, is the largest chemical producer in the world. The company was founded in 1865 and is headquartered in Ludwigshafen, Germany. The company employs more than 112,000 employees worldwide. The company has a wide range of products, and it mainly deals in sectors like chemical, plastics, crop technology, and crude oil & natural gas.

Key Findings of the Global Marine biotechnology market:

• North America holds the largest market share
• Asia-Pacific is the fastest growing region
• Rising consumption of the marine biotechnology products in healthcare and biotechnology
• Growing adoption of the marine biotechnology
• Positive trend in biotech R&D expenditure