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Global marine biotech market: 3.8% CAGR forecast between 2012-16

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Global Marine Biotech Market 2012-2016 - a new market research report on companiesandmarkets.com

 

PR-Inside.com: 2014-04-17 04:59:07
The Global Marine Biotech market is to grow at a CAGR of 3.82 percent over the period 2012-2016. One of the key factors contributing to this market growth is the increase in the demand for natural products. The Global Marine Biotech market has also been witnessing increasing investments from venture capitalists. However, high R&D costs could pose a challenge to the growth of this market.

The emergence of marine biotech in Europe is a major trend witnessed in the Global Marine Biotech market. While the US dominates the Global Marine Biotech market, Europe has also been making significant contributions to this market. With Europe recovering from the economic crisis, the country has been making steady investments in marine biotechnology. For instance, since 2000, the European Commission, along with the member and associated states, has worked toward the development of marine biotech research infrastructure such as providing increased access to research vessels, laboratories, or stations and integrating scientific communities for enhancing research activities. The Marine Biotech market in Europe is also witnessing the emergence of several small and medium sized enterprises that are making significant contributions to the R&D and introduction of novel marine-based products. In addition, the European Union research policy supports several collaborative projects in marine biotechnology.

The most important of the main drivers is the introduction of innovative products from marine sources. Such products offer solutions to a wide range of markets such as Medical, Skin Care, and Cosmetics. The introduction of marine-based products such as cosmetic ingredients, pharmaceutical products, and molecules such as enzymes, biopolymers, and biomaterials are driving the growth of the market.

One of the key challenges in the market is the high R&D costs. The R&D of marine-based products requires an understanding of several sciences such as biology, chemistry, and environmental sciences. In addition, the development of a product takes several years, which in turn increases the overall R&D costs.

The key vendors dominating this space include Aker BioMarine AS, Aqua Bio Technology ASA, Cyanotech Corp., and Royal DSM NV.

The other vendors mentioned are ABL Biotechnologies Ltd., Aquapharm Biodiscovery Ltd., Biotech Marine, CP Kelco, Elan Corp. plc, FMC Biopolymer AS, Frutarom USA Inc., GeoMarine Biotechnologies, GlycoMar Ltd., Integrin Advanced Biosystems, Jinghua Marine Biological USA Inc., Lonza Group Ltd., Marinova, Mera Pharmaceuticals Inc., New England Biolabs Inc., PharmaMar SA, Prolume Ltd., Pronova BioPharma, Sea Run Holdings Inc., Tequesta Marine Biosciences, and Verenium Corp.

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