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Marine Biotechnology Industry Key Trends, Top Manufacturers, and Competitive Strategies, 2025

Jan 13th 2020 at 4:34 AM

Global marine biotechnology market is anticipated to witness an exponential growth in the forecast period. Marine Biotechnology refers to a developing field encompassing materials technology, marine biomedicine, bioinformatics, marine biomedical model organisms, bioremediation, molecular genetics, genomics, and others.

The factors that propel the growth of the market include increasing demand for natural compounds in cosmetic industry, the surge in demand for biofuel, rising healthcare segment, and fast growth and increasing healthcare industry. On the other hand, there is a factor that may hamper the growth of the market including lack of R&D investment in biotechnology. Marine biotechnology market is anticipated to expand at a significant CAGR of 7.15% in the upcoming period as the scope, product types, and its applications are increasing across the globe.

The market could be explored by type, product type, technology, application, end user and geography. Market could be explored by type as Marine Plant Technology and Marine Animal Technology. Market could be explored by product type as bioactive substances, Biomaterial, and Others. The “Biomaterial” segment led the marine biotechnology market in 2017 and will continue to lead in the forecast period. The key factor that may be attributed to the growth of the market includes rising demand for high quality and sustainable products in the market. Based on technology, the market could span Culture-independent techniques, Large-scale implementation and Enrichment, and isolation and cultivation of microorganisms.

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The key applications that could be explored in the market include Cosmetics, Pharmaceuticals, Nutritional Supplements, and Fine Chemical. The “Cosmetics” segment led the marine biotechnology market in 2017 and will continue to lead in the forecast period. The key factors that may be attributed to the growth of market includes increasing investment by key players and other aspects like dietary and healthy supplements because they are rich in proteins, amino acids, vitamins, and minerals etc. The market could be explored based on the end user as Healthcare/Biotechnology, Industrial products, Energy & Infrastructure, Consumers’ products, and Others.

North America accounted for the major share of the marine biotechnology market in 2017 and will continue to lead in the forecast period. The factors that could be attributed to the growth include growing funding for R&D to develop novel drugs from bio-based products, increasing focus on the manufacture of algae-derived biotechnology and increasing the consciousness about the benefits of marine-derived products. North America is followed by Asia-Pacific and European region.

Some of the key players that fuel the growth of the marine biotechnology market comprise CP Kelco US Inc, Aker BioMarin, Sea Run Holdings Inc., Elan Corp, GlycoMar Ltd., FMC Corp., Lonza Group Ltd., MariCal, Tequesta Marine Biosciences, New England Biolabs Inc., Mari Nova, and PML Applications Ltd. The leading companies are taking up partnerships, mergers and acquisitions, and joint ventures in order to boost the inorganic growth of the industry.

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