Blue biotechnology is growing rapidly and is used in pharmaceutical industries, healthcare sector and others. Algae is one of the common resources of marine and is highly demanded in the cosmetics industry. The product of blue biotechnology is used for treatment purposes which include uncontaminated, antiviral and others.Moreover, products of the blue biotechnology are also used for treatment of bones and wounds and thus the market is fetching more demand during the projection period of 2017- 2025.
The global blue biotechnologymarket is propelled by the increasing aquatic and marine creatures that familiarizes with new product development such as drug finding, enzymes, and others in research and development activity. Development of new aquatic technology for monitoring the sea atmospherecoupled with the increasing demand for enzymes mainly in the cosmetics sectorare the key factorsaugmenting the growth of this marketduring the estimated period. Otheressentialfactor which drives the market of blue biotechnologyis rising development of algae- derived bioenergy. Growing demand for marine renewable energy is also anessential factor which helps in growingof the globalblue biotechnology marketin the near future.
The global blue biotechnology market in the report is segmented bytypes which includes pharma, biofuels, food, enzymes, biopolymers, and others.Based on application, the market has been analyzed asvaccine development, genomics, drug finding, and others. Moving forward, the market of blue biotechnologyis divided into end- user which involvespharmaceutical companies, biotechnology companies, research organization, healthcare centre, and others. Geographically, the global blue biotechnology market issegmented into North America, Europe, Asia-Pacific, Middle East and Africa and Latin America.
In addition to this, increasing number of blue biotechnology products coupled with the growing vaccine development companies in Asia-Pacific, therefore, makes the region holds the largest market share. Further down, rising focus on development of marine technology for manufacturing new drug has augmented the demand of blue biotechnology market in countries like Germany, Italy, France, and the U.S. Fast growth ofmarine organisms that includes algae, bacteria and others in countries like Brazil and Chile, makes a high demand for blue biotechnology products in Latin-America region. Moreover, increasing investment in research and development activity for improved product of blue biotechnology, boosts the growth of the market in the Middle East and Africa region.Additionally, the surge in demand for nautical biotechnology in the cosmetics sector coupled with the rise of other end-users such as pharmaceutical companies, healthcare centre, and others is expected to augment the market growth for stem cell manufacturing during the estimated period.
However, lack of consciousness regarding marine micro-organism’s may impose a restriction towards the growth of the global blue biotechnologymarket.
Some of the major players in the global blue biotechnology include Aker Biomarine, GeoMarine Biotechnologies, GlycoMar, Marinova, New England Biolabs, Pml Application Ltd., Sea Run Holdings, Inc., Shell Marine Products, and Samudra Biopharma Private Limited.
Global Blue Biotechnology Market: By Product Type
Global Blue Biotechnology Market: By Application
Global Blue Biotechnology Market: By End- User
Global Blue Biotechnology Market: By Geography