The Blue Biotechnology Market is expected to grow at a CAGR of approximately 10.2% during the forecast period of 2017-2023.
Aker BioMarine (Norway), Marinova (Australia), New England Biolabs (U.S), PML Applications Ltd. (U.K), Sea Run Holdings, Inc.(U.S), PICES (Canada), Donald Danforth Plant Science Center (U.S), Shell Marine Products (U.S), GeoMarine Biotechnologies (India), GlycoMar (Scotland), Cellgen Biologicals Pvt Ltd. (India), Nurture Aqua Technology Pvt. Ltd. (India), Samudra Biopharma Pvt.Ltd (India) andSanosil Biotech (India)
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Biotechnology is the application of science and technology to living organisms, products and involves modification of living or non-living materials for the production of goods and marine biotechnology is an emerging discipline which involves the use of marine resources. The oceans encompass about 71% of the surface of the earth. It is the use of marine resources at molecular level for the production of resources useful to mankind, for example use of marine alga for growing cell cultures in laboratory. Blue Biotechnology also helps in creating new marine technology to monitor sea environment and health threats to human. Blue biotechnology is helpful in diagnosis of diseases through microbial testing of microorganisms. It has wide application in the field of life science and healthcare. The increasing demand of blue biotechnology products like microorganisms, and growing importance of genetic modified microorganisms drives the growth of this market. This market’s growth restrain is challenge of conserving marine ecosystem.
Global blue biotechnology market has been segmented on the basis of products, which includes enzymes, pharma products, bulk chemicals, biopolymers and other products. On the basis of application, the market is segmented into bio-engineering, genomics, vaccine development, drug discovery and others. On the basis of end users, the market is segmented into hospitals, pharmaceutical companies, biotechnology companies, research institutes, laboratories, and others.
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Globally, blue biotechnology market consists of four regions which includes Americas, Europe, Asia Pacific and Middle East & Africa. North America is the largest market due to an increase in demand of blue biotechnology products and awareness regarding the applications of blue biotechnology in vaccine development. Presence of large number of biotechnology companies engaged in research and development activities in blue biotechnology, rising demand of marine biotechnology in cosmetics industry and increasing end users applications like industrial products, cosmetic, pharmaceutical etc. drives the growth of this market. Europe is the second largest market owing to an increase in the demand of marine biotechnology products. Asia Pacific shows a steady growth in this market as blue biotechnology is not much applied in various fields. Due to lack of awareness regarding the use of marine microorganisms & their uses, this market shows a slow growth in Middle East & Africa.
Table of Content
1. Report Prologue
2.2 Scope Of The Study
2.2.1 Research Objective
2.3 Market Structure
2.4. Market Segmentation
3. Research Methodology
3.1 Research Process
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
3.5 Forecast Model
4. Market Dynamics
4.5 Macroeconomic Indicators
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