Growing International Interest in Oceanology to Benefit the Global Marine Biotechnology Market, According to New Report by Global Industry Analysts, Inc.
San Jose, California (PRWEB) April 19, 2012
Follow us on LinkedIn – With growing environmental pollution throwing the spotlight on sustainable industrial development, there exists huge demand for suitable, scalable, economically, socially and environmentally sustainable feedstock options for the manufacturing industry. With sustainable feedstock production and delivery ballooning into a massive industry worldwide, the world’s oceans have emerged into the next frontier for investigative, biological resource development and management R&D projects. For instance, marine-derived cosmetic ingredients, marine-derived molecules including enzymes, biopolymers and biomaterials, marine-derived pharmaceuticals, among others, are now becoming the mainstay of most R&D projects worldwide. The marine biotechnology sector is also attracting increased venture capital funds as is mirrored by the mushrooming of potential laden start-up firms focused on developing novel compounds from marine organisms.
Lucrative application areas capable of fuelling future growth in the marketplace include agriculture wherein marine derived fungicides and natural plant growth regulators are igniting huge interests; industrial processes and products wherein marine derived feedstocks and molecules are valued as alternatives to conventional, toxic chemical feedstocks; healthcare wherein marine derived drugs are already showing immense commercial potential; and in the energy industry where marine derived algae and microalgae are increasingly being appreciated for their use in the production of biofuels. Among the industrial processes of immediate interest is waste water treatment wherein marine algae show immense promise as water purifying and filtration agents. In the food industry, marine algae will continue to find applications as thickeners and gelling agents, and even more so as nutrients in food diets valued for its neuroprotective benefits.
Europe is forecasted to catapult its presence in the international marine biotechnology industry in the long term, given the continent’s yet unexplored and underexploited marine resources. Of special importance is the application of marine biotechnology in the medical sector with the pharma industry in the region having already developed commercially viable marine derived drugs to treat a range of diseases including cancer. The future of marine biotechnology depends upon the continued ability of industry participants to effectively develop bio-prospecting procedures for screening and indentifying novel biomolecules produced by marine organisms. Also, numerous new biochemical studies on marine organisms and the steadily widening knowledge base of molecular reactivity of species, their biological functions and the environment, is poised to benefit new product development in the upcoming years.
The European debt crisis is posing some systemic concerns for the marine biotechnology industry as a result of fears over austerity measures likely to be initiated to counter the crisis. The impact of a possible euro zone recession could possibly trickle down into the industry in the form of erosion in customers’ buying confidence which will acutely impact premium priced products. Marine derived products are typically expensive since careful hand harvesting of marine ingredients is expensive, unlike the mass low cost production of conventional alternatives. Also, with primary applications of marine derived feedstock centering on industrial/agricultural/manufacturing activities, demand and consumption patterns move in sync with the prevailing market sentiment in the broader end-use industries. In addition, given the fact that oceanographic expeditions which are critical to sample and analyze deep sea cores to identify unusual/rare microbes, are expensive and are largely dependent upon federal funding. Budgets cuts in research organizations, such as, EuroGOOS, European Centre for Information on Marine Science and Technology and Marine Board of the European Science Foundation (ESF), can seriously cripple capital availability for ocean going research.
As stated by the new market research report on Marine Biotechnology, Bioactive Substances represents one of the fastest growing market sectors trailing a projected CAGR of approximately 4.7% respectively.
Major players in the market include Aker BioMarine ASA, CP Kelco US Inc., Cyanotech Corp., Elan Corporation plc, FMC Corp., FMC Biopolymers AS, GlycoMar Ltd., Lonza Group Ltd, MariCal, Marinova, Mera Pharmaceuticals Inc, New England Biolabs Inc, PharmaMar S.A, PML Applications Ltd., Prolume Ltd, Sea Run Holdings Inc, Tequesta Marine Biosciences, among others.
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 geographic markets, such as, 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).
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.