Global Marine Biotechnology Market Outlook, Trend and Opportunity Analysis, Competitive Insights, Actionable Segmentation & Forecast 2024

Published - Apr 2019 | Category - Healthcare | No. of Pages - 138 | Published By - EMR


Global Marine Biotechnology Market is expected to grow significantly from USD 3,500.4 million in 2017 to USD 6,500.6 million in 2024, at a healthy CAGR of 9.61% from 2018 to 2024.

The growth in the market is attributed to the rising usage of marine biotechnology in various industries, advances in drug discovery and growing expenditure in R&D activities. Moreover, increasing demand for eco-friendly products is further propelling market growth.

Marine biotechnology contributes to various other biotechnology and industry sectors from pharmaceutical to cosmetics and bioremediation to energy. Marine biotechnology is key to realizing the potential of marine bio-resources. These resources could produce new products and processes, and help address the global challenges of energy, food and health.

Geographically, Europe held the largest share of the market in 2017. The growth in the region is attributed to the technological advancements in marine biotechnology, growing demand from the cosmetic industry, and increasing demand for marine biotechnology for the development of biofuels. The growth of marine biotechnology market in North America is primarily attributed to the growing research and development activities, and increasing demand for natural products.

Global Marine Biotechnology Market Major Key Players

Sea Run Holdings, Inc.
Aker Biomarine
PharmaMar
SEPPIC
New England Biolabs Inc.
CoDo International Limited
Marinomed Biotech AG
Cyanotech Corporation
CP Kelco US Inc
AlgaEnergy S.A.
Others


 

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