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The marine biotechnology market size is estimated to grow by USD 4.37 billion at a CAGR of 9.85% between 2023 and 2028. The market's growth hinges on diverse factors, notably the surge in biofuel demand, driven by a global shift towards renewable energy sources. Additionally, escalating demand for secondary metabolites sourced from marine microorganisms fuels market expansion, as industries recognize their potential in pharmaceuticals and biotechnology. Furthermore, the cosmetic sector's rising appetite for natural compounds propels market growth, reflecting consumer preferences for sustainable, eco-friendly products. These converging trends underscore a dynamic landscape where innovation and sustainability intersect, driving the exploration and commercialization of novel bio-based solutions. As industries increasingly prioritize environmental stewardship and consumer well-being, the market continues to evolve, offering promising opportunities for stakeholders across sectors to capitalize on the growing demand for bio-derived products.
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The market is driven by the increasing demand for innovative solutions in tissue engineering, regenerative medicine, and therapeutics. Advancements in marine-derived enzymes and biofuels propel market growth, while genomics and genetic engineering unlock new potentials in marine resources. Trends include the exploration of Corals and Sponges, Marine Viruses, and Marine Microbes for anti-aging ingredients, antioxidant, and anti-tumoral applications in nutraceuticals, cosmetics & personal care, and pharmaceuticals. However, challenges such as sustainable sourcing, regulatory hurdles, and limited knowledge of marine ecosystems hinder market expansion. To capitalize on the market's potential, collaboration between academia, industry, and government is essential to harness genetic resources responsibly while addressing conservation concerns and maximizing the therapeutic benefits of marine-derived pharmaceuticals. Our researchers analyzed the market research and growth data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The increased demand for secondary metabolites from marine microorganisms is notably driving the market growth. Secondary metabolites are compounds with various chemical structures. They are produced by certain strains of microbial species, such as actinomycetes, fungi, and plant species. They do not play a physiological role during the development of organisms. Hence, they are not directly involved in organisms' normal growth, development, and reproduction. Secondary metabolites are produced when key nutrients such as carbon, nitrogen, or phosphate are exhausted. They are compounds that are used in various industries, such as pharmaceuticals, cosmetics, food, agriculture, and farming.
In the deep marine world, there are various types of bacteria, fungi, sponges, actinomycetes, cyanobacteria, and algae that produce biologically active secondary metabolites. Secondary metabolites that are produced from marine microorganisms show an extensive range of activities, such as antibacterial, antimalarial, antifungal, and cytotoxic properties, which increase their demand. This is an attractive field as it is a rich source of both biological and chemical diversity. Hence, it has become a major source producing secondary metabolites. This has increased the demand, which has driven the growth of the market.
Increasing concern about climate change is the primary trend in the market. The increased consumption of fossil fuels has increased GHG emissions, primarily carbon dioxide, into the atmosphere. A large proportion of GHG production arises from industrial activities. The increase in GHG emissions affects the amount and pattern of precipitation and causes changes in sea levels, the frequency and intensity of weather events, and agricultural yields, leading to species extinction. Hence, the focus on reducing GHG emissions by reducing the use of fossil fuels and using renewable energy sources has increased. It is widely viewed that it has the potential to reduce atmospheric carbon dioxide by sequestering carbon and producing carbon dioxide-neutral fuels.
Moreover, the cell walls of microalgae contain highly cross-linked, macromolecular, and paraffinic hydrocarbons that resist biological and chemical degradation. The macromolecular paraffinic hydrocarbons in algae are a carbon sink because they can be buried, which helps remove carbon dioxide from the carbon cycle. Marine biotechnology, based on renewable resources, can significantly reduce carbon dioxide emissions and save energy. It helps reduce the effects of climate change. It can prevent the depletion of fossil fuels using enzymes, microorganisms, and algal biomass to produce bio-based products that are used in several industries. The increasing concern about climate change will increase the adoption of marine biotechnology, which will drive the growth of the market during the forecast period.
Legal and ethical issues associated with marine biotechnology are the major challenges impeding the market growth analysis. Biotechnology is an intersection of science and ethics, which offers a myriad of benefits to human beings. However, there are some challenges. Biotechnology can cause harm and dehumanize people. It begins with manipulating the genomes of animals and plants, which causes several concerns. This is because people's perception of biotechnology is that the risk is too high. As the long-term effects of biotechnology products are unknown, distrust is created among users, which affects their adoption.
Further, biotechnology, and maritime biotechnology, also face some legal and ethical challenges. For instance, the study and the use of organisms and resources from other countries is a challenge. A country that is rich in resources and has a better selection of marine life does not encourage the entrance of other countries for research. Hence, scientists are struggling to study samples from other countries. One such example is the dispute between scientists in the US and scientists in countries south of the equator where marine resources are rich. Hence, marine biotechnologists must remain conscious of their activities to ensure that the environment that they are studying is stable. Hence, legal and ethical issues could affect the growth of the market during the forecast period.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth and forecasting strategies.
Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Marinomed Biotech AG - The company offers marine biotechnology products such as soft gels as its key offering.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market share growth of the healthcare products segment will be significant during the forecast period. Drug discovery is one of the most promising outcomes of maritime biotechnology research. Biochemicals that are produced using aquatic invertebrates, such as seaweed and bacteria are different when compared with biochemicals produced using related terrestrial organisms. Hence, they offer better potential as new classes of medicines. Examples of marine-derived drugs include an antibiotic produced using fungi, two closely related compounds from a sponge that treats cancer and herpes virus, and a neurotoxin from a snail that has painkiller properties, which makes it 10,000 times more potent than morphine without any of its side effects. This will drive the growth of the market during the forecast period.
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The healthcare products segment was valued at USD 2.04 billion in 2018. Due to the increase in the prevalence of chronic diseases and the increasing demand for high-quality treatment, there will be an increase in the production of pharmaceutical ingredients using bioactive substances. As a result, the healthcare segment will witness several clinical trials and advances in marine-derived compounds. This will drive the growth of the segment during the forecast period.
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North America is estimated to contribute 35% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The market share in the North American region is led by the US. This is majorly due to the presence of several big pharmaceutical companies, such as Novartis, Pfizer, and Roche, which depend on marine biotechnology products such as recombinant proteins and growth hormones to develop new drugs. The US is the largest contributor of revenue to the market in the region. This is due to the presence of several marine biotechnology research centers in the country, such as the Scripps Institution of Oceanography; the University of California, San Diego; the Colorado State University; and the University of Delaware. These organizations are involved in marine-related research, which is increasing awareness about the advantages of marine-derived products and increasing their production and adoption.
Segment Overview
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion" for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
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The market is driven by the exploration of bioactive compounds from diverse marine organisms such as marine animals, crustaceans, fungi, algae, and corals. Key areas include wound healing, animal feed, crop yield enhancement, and drug discovery for diseases like Alzheimer's and Diabetes. Utilizing CRISPR/Cas9 gene editing and synthetic biology, researchers unlock the potential of marine biomaterials for biomedical applications and eco-friendly solutions like bioplastics. With rich biodiversity and sustainable practices in aquaculture and marine-farming operations, the market thrives on marine-derived supplements, functional food ingredients, and cosmeceuticals. Challenges lie in marine conservation, regulatory compliance, and scaling up production while maintaining ecological sustainability. Collaboration across sectors fosters innovation in marine biotechnology, driving the market forward in addressing global challenges and improving human health.
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Market Scope |
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Report Coverage |
Details |
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Page number |
174 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 9.83% |
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Market Growth 2024-2028 |
USD 4.72 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
8.72 |
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Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
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Performing market contribution |
North America at 34% |
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Key countries |
US, China, UK, Germany, and Japan |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Air Liquide SA, Aker BioMarine ASA, AlgaEnergy SA, Archer Daniels Midland Co., BASF SE, CoDo International Ltd., Cyanotech Corp., FMC Corp., Geomarine Biotechnologies, Glyco Mar Ltd., J M Huber Corp., KD Pharma Group, Lonza Group Ltd., Marinomed Biotech AG, Marinova Pty Ltd., Marshall Marine Products, New England Biolabs Inc., PharmaMar SA, and Prolume Ltd. |
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Market dynamics |
Parent market analysis, Market forecast, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
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Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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