Marine biotechnology market 2023-2027: A descriptive analysis of parent market, five forces model, market dynamics, and segmentation – Technavio – Yahoo Finance

NEW YORK, Dec. 13, 2022 /PRNewswire/ — According to Technavio, the global marine biotechnology market size is expected to grow by USD 4,370.04 million from 2022 to 2027. The market is estimated to grow at a CAGR of 9.85% during the forecast period. Moreover, the growth momentum will accelerate. North America will account for the largest share of the global market during the forecast period.

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Global marine biotechnology market – Parent market analysis

Technavio categorizes the global marine biotechnology market as a part of the life science tools and services market, which covers products and companies that are engaged in R&D of several product categories, including capital equipment, instruments, accessories, and consumables. The market also covers life sciences-related services, including contract research, contract manufacturing, and contract sales.

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Global marine biotechnology market – Five forces

The global marine biotechnology market is fragmented, and the five forces analysis covers–

• Bargaining power of buyers

• Threat of new entrants

• Threat of rivalry

• Bargaining power of suppliers

• Threat of substitutes

• Interpretation of Porter’s five forces model helps to strategize the business. For more details – buy the report!

Global marine biotechnology market – Customer landscape

The report includes the market’s adoption lifecycle, from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on the penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Global marine biotechnology market – Segmentation assessment

Segment overview

Technavio has segmented the market based on type, application, and region.

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• The healthcare products segment will grow at the highest rate during the forecast period. The prevalence of chronic diseases is increasing across the world. These diseases require high-quality treatments. Hence, the production of pharmaceutical ingredients using bioactive substances is expected to increase. As a result, several clinical trials and advances in marine-derived compounds are anticipated in the healthcare segment. This, in turn, will drive the growth of the segment during the forecast period.

Geography overview

Based on geography, the global marine biotechnology market is segmented into North America, Europe, APAC, South America, and the Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global marine biotechnology market.

• North America will account for 35% of the global marine biotechnology market during the forecast period. The US is the leading market in the region owing to the presence of large pharmaceutical companies that depend on marine biotechnology products to develop new drugs. The country also has several marine biotechnology research centers that are involved in marine-related research. These factors will drive the growth of the regional market during the forecast period.

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Global marine biotechnology market – Market dynamics

Key factors driving market growth

• The increase in demand for secondary metabolites from marine microorganisms is driving the market growth. Secondary metabolites are compounds with varied chemical structures. These compounds are used in various industries, such as pharmaceuticals, cosmetics, food, agriculture, and farming.

• Secondary metabolites that are produced from marine microorganisms exhibit antibacterial, antimalarial, antifungal, and cytotoxic properties, which is increasing their demand.

• As marine microorganisms have significant biological and chemical diversity, they have become a major source for producing secondary metabolites. This, in turn, has increased the demand for marine biotechnology.

Recent trends influencing the market

• Increasing concerns about climate change are a key trend in the market.

• The rise in consumption of fossil fuels has increased GHG emissions, which are harmful to the environment. Hence, the focus on using renewable energy sources has increased.

• With the help of marine biotechnology, enzymes, microorganisms, and algal biomass can be used to reduce carbon emissions. For example, the macromolecular paraffinic hydrocarbons in algae are a carbon sink, which helps remove carbon dioxide from the carbon cycle.

• Hence, the rising concerns about climate change will increase the adoption of marine biotechnology, which, in turn, will support the growth of the market during the forecast period.

Major challenges hindering market growth

• Legal and ethical issues associated with marine biotechnology are challenging market growth.

• The long-term effects of biotechnology products are not widely known, which affects their adoption.

• Moreover, the study of organisms and resources from different countries is a challenge for scientists due to international disputes.

• Hence, the legal and ethical issues associated with marine biotechnology can affect the growth of the market in a negative manner during the forecast period.

Drivers, trends, and challenges have an impact on market dynamics, which can impact businesses. Find some insights from a sample report!

What are the key data covered in this marine biotechnology market report?

• CAGR of the market during the forecast period

• Detailed information on factors that will drive the growth of the marine biotechnology market between 2023 and 2027

• Precise estimation of the size of the marine biotechnology market and its contribution to the parent market

• Accurate predictions about upcoming trends and changes in consumer behavior

• Growth of the marine biotechnology market across APAC, North America, Europe, Middle East and Africa, and South America

• Thorough analysis of the market’s competitive landscape and detailed information about vendors

• Comprehensive analysis of factors that will challenge the growth of marine biotechnology market vendors

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Related reports:

• The marine pharmaceuticals market size is expected to grow by USD 1.56 billion with a CAGR of 7.73% between 2021 to 2026. The market is segmented by product (oncology, cardiovascular, anti-infectives, and others) and geography (North America, Europe, Asia, and Rest of World (ROW)).

• The animal biotechnology market size is expected to grow by USD 3.26 billion with a CAGR of 2.82% between 2021 to 2026. The market is segmented by product (drug, vaccine, diagnostic test, and others) and geography (North America, Europe, APAC, South America, and the Middle East and Africa).

Browse for Technavio’s health care market reports

Table of contents:

1 Executive Summary

• 1.1 Market overview

2 Market Landscape

• 2.1 Market ecosystem

3 Market Sizing

• 3.1 Market definition

• 3.3 Market size 2022

4 Historic Market Size

5 Five Forces Analysis

• 5.1 Five forces summary

• 5.6 Threat of rivalry

• 5.7 Market condition

6 Market Segmentation by Application

• 6.1 Market segments

7 Market Segmentation by Type

• 7.1 Market segments

• 7.2 Comparison by Type

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape

• 11.4 Industry risks

12 Vendor Analysis

• 12.1 Vendors covered

• 12.3 AKER BIOMARINE AS

• 12.4 Air Liquide SA

• 12.5 AlgaEnergy SA

• 12.8 Cyanotech Corp.

• 12.9 FMC Corp.

• 12.11 Glyco Mar Ltd.

• 12.12 J M Huber Corp.

• 12.13 KD Pharma Group SA

• 12.14 Lonza Group Ltd.

• 12.16 Marinova Pty Ltd.

• 12.17 PharmaMar SA

13 Appendix

• 13.1 Scope of the report

About us

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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