New York City, NY, 14 November, 2019/ 24 Market Reports: Marine biotechnology is a growing field which also includes biomedicine as its sub-sector. The biomedicine comprises of pharmaceuticals discovery, bioremediation, genomics, marine biomedical model organism, bioinformatics and molecular genetics. The enormous biodiversity and genetic life in the sea is the major motivation for this discipline.
Marine biotechnology to show promising growth prospect in the upcoming years
Marine environmental protection, marine bioactive substances, marine environmental protection, marine culture, genetics, fermentation engineering, enzyme engineering and marine biomaterials are the categories of the marine biotechnology. Even after being in the nascent stage, marine biotechnology has untapped potential and promising growth prospect in the future.
Industrial products, healthcare, infrastructure, consumer products and public services are the end-user applications of the marine products. This technology lends maximum utilization of marine resources and also conserves and safeguards these resources.
The United States to lead the marine biotechnology market globally during the forecast period
The United States dominates the marine biotechnology market with the largest share in the market owing to the home to various marine research centres specializing in marine biotechnology. The healthcare segment constitutes the largest segment in the market. Europe is the fastest-growing region contributing to the growth of the market. During the forecast period, it is expected for the Asia Pacific countries like China, India, Japan, Thailand, Australia, Vietnam and South Korea to witness substantial growth in the market.
Lack of investment in R&D technology likely to restrain the growth of the marine biotechnology market
Agriculture industries, food and cosmetics are the major end-use sectors of the marine products. Advancements in drug discovery, fisheries and aquaculture are also the factors propelling the growth of the market. Lack of investment in the R&D for biotechnology is restraining the growth of the market. Lack of exploration in oceans is constraining the growth as many untold marine resources are extinct even before their proper useful characteristics are discovered.
The following are the major objectives of the study:
- To define, describe, and forecast the global marine biotechnology market on the basis of product, application and region
- To provide detailed information regarding major factors influencing growth of the market (drivers, restraints, and opportunities).
- To strategically analyze micromarkets with respect to individual growth trends, future prospects, and contributions to the overall market
- To analyze the opportunities in the market for key stakeholders and provide details of the competitive landscape for leading market players
- To forecast the size of the market segments with respect to four main regions, namely, North America, Europe, Asia-Pacific, and the Rest of the World (RoW).
- To strategically profile the key market players and comprehensively analyze their market shares and core competencies.
- To track and analyze competitive developments such as acquisitions, expansions, new product launches, agreements, and collaborations in the marine biotechnology market.
Critical Questions which the report answers:
- What are the major vendor/manufacturers in the market? What is their growth potential during next decade?
- What are the key revenue generating pockets for marine biotechnology market and their future potential during next decade?
- How competitive landscape is evolving marine biotechnology market?