The Marine Biotechnology Global Market Report 2023, provides comprehensive information on the marine biotechnology market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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The global marine biotechnology market size is expected to grow from $5.35 billion in 2022 to $5.79 billion in 2023 at a compound annual growth rate (CAGR) of 8.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global marine biotechnology market size is expected to reach $7.69 billion in 2027 at a CAGR of 7.4%.
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Product innovations are a key trend gaining popularity in the marine biotechnology market. Major companies operating in the marine biotechnology market are focused on innovating new products to strengthen their position in the market. For instance, in January 2021, Jellagen, a UK-based marine biotechnology company, launched jellyfish collagen hydrogel JellaGel, the first collagen type 0 hydrogel. A 3-dimensional hydrogel makes a significant difference by allowing cells to develop and interact with their environment. It has been demonstrated that 3D-grown cells exhibit better cell viability, morphology, proliferation, and differentiation than 2D-grown cells. The development of JellaGel as a potential matrix for new drug screening models or in the creation of human tumor xenograft models as part of cancer drug discovery programs is made possible by these crucial qualities. This new biomaterial, Collagen Type 0, is a chemical invention that offers the market an effective substitute for the traditional scaffold supplies utilized in 3D cell culture. The distinct qualities of JellaGel will now be used by researchers.
The marine biotechnology market is segmented:
1) By Type: Bio Active Substance, Bio Materials
2) By Source: Corals And Sponges, Algae, Marine Viruses, Marine Fungi, Other Sources
3) By Technology: Isolation And Cultivation of Microorganisms, Culture-Independent Techniques
4) By Application: Aquaculture And Food Products, Environment And Human Health, Drug Discovery
5) By End User: Medical And Pharmaceutical, Food Industry, Cosmetic Industry, Chemical Industry, Other End Users
Europe was the largest region in the marine biotechnology market in 2022.
The table of contents in TBRC’s marine biotechnology market report includes:
- Executive Summary
- Marine Biotechnology Market Characteristics
- Marine Biotechnology Market Trends And Strategies
- Marine Biotechnology Market – Macro Economic Scenario
- Marine Biotechnology Market Size And Growth
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- Middle East Marine Biotechnology Market
- Africa Marine Biotechnology Market
- Marine Biotechnology Market Competitive Landscape And Company Profiles
- Key Mergers And Acquisitions In The Marine Biotechnology Market
- Marine Biotechnology Market Future Outlook and Potential Analysis
Top Major Players
- Cyanotech Corporation
- CP Kelco US Inc.
- PharmaMar S.A.
- Sea Run Holdings Inc.
- Nofima
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