Global Marine Biotechnology Market to Reach US$4.1 Billion by 2015, According to a New Report by Global Industry Analysts, Inc.
GIA announces the release of a comprehensive global report on Marine Biotechnology markets. The global market for Marine Biotechnology is forecast to reach US$4.1 billion by the year 2015. Key factors driving market growth include growing interest from medical, pharmaceutical, aquaculture, nutraceutical and industrial sectors. Further, widening applications in several end-use areas including marine transportation, environmental remediation, cosmetics, research, and food sectors are also contributing to market growth.
San Jose, CA (Vocus/PRWEB) January 04, 2011
Marine biotechnology plays a key role in exploring and studying various marine biological resources. Marine biotechnology comprises broad range of subjects such as marine environmental protection, marine bioactive substances, genetics, marineculture, fermentation engineering and enzyme engineering. However, marine biotechnology market is still in a nascent stage and accounts for a tiny percentage of the overall biotechnology market. During the years 2008 and 2009, the global marine biotechnology market witnessed a slowdown owing to the global economic meltdown. Nonetheless, the market gained momentum in 2010 with the recovery of economic situation and is expected to post substantial growth in ensuing years. Given the vast untapped potential, the marine biotech sector holds promising growth prospects for the future.
United States represents the single largest region for marine biotechnology worldwide, as stated by the new market research report on Marine Biotechnology. The US is the world leader in marine science research and is home to highly developed international marine research centers specializing in marine biotechnology. Marine Bioactive Substances market is forecast to register the fastest growth rate of more than 4.0% during the period 2009-2015. Marine Biomaterials market is projected to reach US$1.7 billion by 2012. In terms of end-use, Healthcare/biotechnology constitutes the largest as well as fastest growing end-use segment for marine biotechnology.
Marine resources have a significant impact on social safety and national economy. Biotechnology not only lends a big hand in maximizing utilization of marine resources, but also conserves and safeguards these resources. Despite this, marine biotechnology was not a significant area of investment until recently. Very few countries have initiated national R&D programs to exploit benefits of biotechnology in the marine sector. However, research activity has gained momentum fueled by new technologies that address technical challenges. Underwater technology; chemical and analytical methods; and remote sensing provide vital information on marine resources hitherto unexplored. In addition, advances in aquaculture, drug discovery and fisheries are expected to encourage application of biotechnology in marine industry.
Major players profiled in the report include Aker BioMarine ASA, CP Kelco US Inc., Cyanotech Corp., Elan Corporation plc, FMC Corp., FMC Biopolymers AS, GlycoMar Ltd., Integrin Advanced Biosystems, International Specialty Products Inc., Lonza Group Ltd, MariCal, Marinova, Martek Biosciences Corp., Mera Pharmaceuticals Inc, New England Biolabs Inc, PharmaMar S. A, PML Applications Ltd., Primex Ltd, Prolume Ltd, Sea Run Holdings Inc, and Tequesta Marine Biosciences.
The research report titled “Marine Biotechnology: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of the marine biotechnology markets, impact of recession on the markets, current market trends, key growth drivers, recent product introductions, recent industry activity, and profiles of major/niche global as well as regional market participants. The report provides annual sales estimates and projections for the years 2009 through 2015 for the following geographic markets - US, and Rest of World. Key segments analyzed include Marine Biomaterials, Marine Bioactive Substances and Others (including Marine Biomass and Marine Bio-Process). The study also analyzes the market by end-use segments, which include Industrial Products, Healthcare/Biotechnology, Consumer Products, Public Services and Infrastructure, and Others (includes Mining and Agricultural Applications). Also, a six-year (2003-2008) historic analysis is provided for additional perspective.
For more details about this comprehensive market research report, please visit – http://www. strategyr. com/Marine_Biotechnology_Market_Report. asp
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world’s largest market research publishers. The company employs over 800 people worldwide and publishes more than 1200 full-scale research reports each year. Additionally, the company also offers thousands of smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.
Global Industry Analysts, Inc.
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