Marine biotechnology is the study of the creatures that inhabit oceans and saltwater environments. More than 80% of the earth’s living organisms are found in the aquatic ecosystem, and the biochemical characteristics of these organisms can be beneficial to humans in the cure of various diseases such as cancer, and for commercial purposes in several industries as a substitute of fuel. Many of these organisms possess lifesaving properties.
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Marine biotechnology includes numerous fields as follows,
- Fisheries and aquaculture
- Deep sea ecology
- Marine mammology
- Marine ethology
Scientists estimate that not more than 5% of oceans have been explored; there are a variety of tools used for marine biotechnology study such as fiber optics, satellites, sonar, sounding, and others. Marine biotechnology is providing many new solutions to industries and agriculture, along with environment friendly pesticides and enzymes helpful for commercial usage.
Demand for innovative biochemicals, increased awareness of environment protection, importance of marine creatures in terms of cure for diseases such as cancer, and availability of advanced marine equipments for research are the major drivers for this market. Extraction of useful biochemicals from unexplored marine creatures for commercial and medical purposes presents a challenge for marine research companies.
Currently, North America leads the market, followed by Europe. Various countries in the Asia-Pacific region have started developing extensive marine biotechnology research projects in surrounding oceans. The increasing usage of biochemicals is expected to result in significant demand for marine biotechnology in the next decade. Some of the major players in the market are Aker BioMarine ASA, PML Applications Ltd., Cyanotech Corp., FMC Corp., Elan Corp, Integrin Advanced Biosystems, FMC Biopolymers AS, GlycoMar Ltd., CP Kelco US, Inc., International Specialty Products Inc., Primex Ltd., Prolume Ltd., Sea Run Holdings Inc., Tequesta Marine Biosciences Lonza Group Ltd., MariCal, Marinova, Martek Biosciences Corp., Mera Pharmaceuticals Inc., New England Biolabs Inc., and PharmaMar S.A.
This research report analyzes this market depending on its market segments, major geographies, and current market trends. Geographies analyzed under this research report include
- North America
- Asia Pacific
- Rest of the World
This report provides comprehensive analysis of
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years
This report is a complete study of current trends in the market, industry growth drivers, and restraints. It provides market projections for the coming years. It includes analysis of recent developments in technology, Porter’s five force model analysis and detailed profiles of top industry players. The report also includes a review of micro and macro factors essential for the existing market players and new entrants along with detailed value chain analysis.
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