New York City, NY, 09 July, 2018/24 Market Reports: In this report, We studies the present scenario (with the base year being 2017) and the growth prospects of global Marine Biotechnology market for 2018-2023.
Marine biotechnology is an innovative field of research in science and engineering that encompasses the use of marine bioresources for a multitude of applications, including the production of food, fuel, materials or specific, often bioactive, compounds and may contribute to green growth and sustainable industries and prosperous communities.Marine biotechnological advancements have already resulted in some successes in diverse fields, including human health, pharmacology, fisheries, environmental recovery or restoration, food and cosmetics industries, agriculture and chemistry. Examples of applications resulting from biotechnological developments include the use of (micro- and macro-) algae for the production of biofuels and the production of marine-derived polysaccharides, which are one of the most abundant renewable biomaterials found on land and in the oceans.
Marine biotechnology is the industrial, medical or environmental application of biological resources from the sea. Since the marine environment is the most biologically and chemically diverse habitat on the planet, marine biotechnology has, in recent years delivered a growing number of major therapeutic products, industrial and environmental applications and analytical tools.
According to the report, the marine biotechnology market is still in its infancy and the boundaries for its quantification are indistinct since some of the marine biotechnology applications involve the use of non-marine bioresources.
Marine Biotechnology can make an increasingly important contribution towards meeting societal challenges and supporting economic recovery and growth, by delivering new knowledge, products and services.
Over the next five years, We projects that Marine Biotechnology will register a 4.2% CAGR in terms of revenue, reach US$ 4600 million by 2023, from US$ 3740 million in 2017.
This report presents a comprehensive overview, market shares and growth opportunities of Marine Biotechnology market by product type, application, key companies and key regions.
In addition, this report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key players and the market as a whole. It also analyzes key emerging trends and their impact on present and future development.
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