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Global Blue Biotechnology Market Size was valued at USD 0.7 Billion in 2022. The Blue Biotechnology market industry is projected to grow from USD 0.8 Billion in 2023 to USD 1.5 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 14.20% during the forecast period (2023 - 2032). Numerous organic products are preferred over synthetic ones everywhere, and research and development activity and prices are increasing, are the key market drivers enhancing the market growth.
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Source: Secondary Research, Primary Research, Research Layer Database and Analyst Review
The global accessibility of numerous biological items as opposed to synthetic goods is blamed for the expansion of the blue biotechnology sector. Additionally, expanding R&D initiatives and investments have significantly enhanced blue biotechnology. The exploding need for goods such diverse drugs, cosmetics, and medicines in the pharmaceutical and cosmetics industries is also driving up demand for blue biotechnology. As NGOs and governments throughout the world step up their efforts to protect aquatic and marine areas, the market for blue biotechnology is being constrained by stronger laws and regulations.
One of the key factors fostering the expansion of the blue biotechnology sector is the worldwide money flow produced by the overproduction of common goods. Blue biotechnology is developing swiftly as a result of increased use, evaluation, and enhancement projects. As a result, it is assisting in the market's expansion. The market is being helped by the increased use of various blue biotechnology products in various endeavours. As a result of Blue Biotechnology's premium rising as a result of filling revenues from goods like various prescriptions, pharmaceuticals, and remedial items in the excellence care products and medication ventures, the market is expanding at a faster rate. For instance, the market is growing as more people choose alternative medications to manage their ailments rather than conventional therapies. Governments and non-governmental organisations (NGOs) have undertaken more widespread attempts to protect the marine environment, which has resulted in the establishment of a number of stringent laws and regulations that are limiting the development of the blue biotechnology sector.
Medicine, biofuels, the environment, health management, reproduction, and nutrition are just a few applications for marine biotechnology. For instance, crude pituitary gland preparation and recombinant DNA technologies are used to make the fish gonadotropin hormone. Food: Hexokinase and glucose genes were introduced to improve the metabolism of the carbs that carnivorous fish consume. through the use of the polymerase chain reaction (PCR) for disease detection, health maintenance and improvement. In July 2021, the Indian National Institute of Ocean Technology will produce anti-aging cosmetics using bacteria from the deep sea.
The market for marine biotechnology is expanding along with the demand for sea-based resources in both agriculture and cosmetics. The market for marine biotechnology is expanding as a result of the rising demand for dietary supplements created from marine-derived materials. The main forces behind market expansion are new innovations and discoveries in the domains of aquaculture, fisheries, and pharmaceutical research and development. Bluu Biosciences recently got funding to use cell culture to produce fish-related products. The administration of aquatic animals is becoming more and more popular, which encourages industrial growth. Thus, driving the Blue Biotechnology market revenue.
The global Blue Biotechnology market segmentation, based on Product, includes Enzymes, Pharma Products, Bulk Chemicals, Biopolymers, and Others. Enzymes segment dominated the global market in 2022. Spirulina and dunaliella, two types of cultured marine microalgae, include beta-carotene, omega-3 fatty acids, and antioxidants. Carotene is a precursor to vitamin A and the many advantages omega-3 fatty acids have for health.
The global Blue Biotechnology market segmentation, based on Application, includes Bioengineering, Genomics, Vaccine Development, Drug Discovery, and Others. Vaccine Development segment dominated the global market in 2022. Recently, vaccines have been made using extracts from marine animals. Thanks to biotechnology, which has been used to replicate marine resources in the laboratory, marine life no longer needs to be continuously extracted for their resources. Some products are currently in the commercial stage, while others are still in the clinical or pre-clinical testing stages.
The global Blue Biotechnology market segmentation, based on End User, includes Hospitals, Pharmaceutical Companies, Biotechnology Companies, Research Institutes, Laboratories, and Others. Pharmaceutical Companies segment dominated the global Blue Biotechnology market in 2022. More research has been done recently on the chemistry of natural compounds originating from marine species. Medical biotechnology is the process of harnessing living cells and cell components to create pharmacological and diagnostic products that help with the diagnosis, treatment, and prevention of human diseases.
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Source: Secondary Research, Primary Research, Research Layer Database and Analyst Review
By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North America Blue Biotechnology Market dominated this market in 2022 (45.80%). The sector is thriving due to upgraded and modernised healthcare and research facilities in North America as well as biotechnology companies that offer marine-based products. Further, the U.S. Blue Biotechnology market held the largest market share, and the Canada Blue Biotechnology market was the fastest growing market in the North America region.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
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Source: Secondary Research, Primary Research, Research Layer Database and Analyst Review
Europe Blue Biotechnology market accounted for the healthy market share in 2022. The government encourages the use of goods having marine origins, which is why this is the case. Therefore, the government's resources and investments are what are promoting the industry's growth. Further, the German Blue Biotechnology market held the largest market share, and the U.K Blue Biotechnology market was the fastest growing market in the European region.
The Asia Pacific Blue Biotechnology market is expected to register significant growth from 2023 to 2032. This is a result of growing consumer awareness of and demand for goods made using blue biotechnology for the creation of vaccines. The market for blue biotechnology goods in the cosmetic manufacturing sector is expanding, and there are many biotechnology firms operating in the region that are engaged in R&D. Moreover, China’s Blue Biotechnology market held the largest market share and the Indian Blue Biotechnology market was the fastest growing market in the Asia-Pacific region.
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Blue Biotechnology market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Blue Biotechnology industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global Blue Biotechnology industry to benefit clients and increase the market sector. In recent years, the Blue Biotechnology industry has offered some of the most significant advantages to medicine. Major players in the Blue Biotechnology market, including Aker BioMarine, Marinova, New England Biolabs, PML Applications Ltd., Sea Run Holdings, Inc., PICES, Donald Danforth Plant Science Center, Shell Marine Products, GeoMarine Biotechnologies, GlycoMar, Cellgen Biologicals Pvt Ltd., Nurture Aqua Technology Pvt. Ltd., Samudra Biopharma Pvt. Ltd, and Sanosil Biotech, are attempting to increase market demand by investing in research and development Products.
A biological and pharmaceutical technology firm, Blue Water Biotech, Inc., is dedicated to creating and offering cutting-edge medications to solve significant global health issues. The Cincinnati, Ohio-based business is the manufacturer of ENTADFI®, a once-daily pill with finasteride and tadalafil that has been given FDA approval to treat benign prostatic hyperplasia. With this combination, men can manage their benign prostatic hyperplasia symptoms without experiencing the negative side effects on their sexual health as individuals who take finasteride alone commonly do. The organisation also maintains a healthy pipeline of vaccines. The University of Oxford, Cincinnati Children's Hospital Medical Centre, St. Jude Children's Research Hospital, and The University of Texas Health Science Centre at San Antonio have all granted Blue Water the rights to use their patented technology. In order to prevent both the highly contagious middle ear infection known as AOM in youngsters and pneumonia in the elderly, Blue Water is developing a potential Streptococcus pneumoniae vaccine.
Supplier of krill-based goods with a wholly owned supply chain is Aker BioMarine ASA. Krill is gathered in Antarctica using company-owned vessels, shipped from Uruguay throughout the world, and then further processed into oil products in the United States. 1) Products made from krill that are manufactured and sold domestically as well as those that are harvested and processed abroad fall under the category of ingredients. 2) Products for human consumption are the major focus of the Brands business, which primarily consists of Epion and Lang Pharma Nutrition (Lang). For Epion, the consumer brand division of Aker BioMarine, Lang develops and distributes private-label vitamins and supplements to retailers in the U.S. market.
· Aker BioMarine
· Marinova
· New England Biolabs
· PML Applications Ltd.
· Sea Run Holdings, Inc.
· PICES
· Donald Danforth Plant Science Center
· Shell Marine Products
· GeoMarine Biotechnologies
· GlycoMar
· Cellgen Biologicals Pvt Ltd.
· Nurture Aqua Technology Pvt. Ltd.
· Samudra Biopharma Pvt. Ltd
· Sanosil Biotech
June 2023: Blue Water Biotech and IQVIA are collaborating to build a medical sales representative team to promote a commercial product portfolio. In this portfolio, the drugs ZONTIVITY® and ENTADFI® stand out for their use in treating benign prostatic hyperplasia and preventing thrombotic cardiovascular events in patients with peripheral artery disease or a history of myocardial infarction, respectively.
· Enzymes
· Pharma Products
· Bulk Chemicals
· Biopolymers
· Others
· Bioengineering
· Genomics
· Vaccine Development
· Drug Discovery
· Others
· Hospitals
· Pharmaceutical Companies
· Biotechnology Companies
· Research Institutes
· Laboratories
· Others
· North America
- U.S.
- Canada
· Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
· Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Australia
- Rest of Asia-Pacific
· Rest of the World
- Middle East
- Africa
- Latin America
Report Scope
| Report Attribute/Metric | Details |
|---|---|
| Market Size 2022 | USD 0.7 Billion |
| Market Size 2023 | USD 0.8 Billion |
| Market Size 2032 | USD 1.5 Billion |
| Compound Annual Growth Rate (CAGR) | 14.20 % (2023-2032) |
| Base Year | 2022 |
| Market Forecast Period | 2023-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Product, Application, End User, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The U.S, Germany, Canada, U.K., Italy, France, Spain, Japan, China, Australia, India, South Korea, and Brazil |
| Key Companies Profiled | Aker BioMarine, Marinova, New England Biolabs, PML Applications Ltd., Sea Run Holdings, Inc., PICES, Donald Danforth Plant Science Center, Shell Marine Products, GeoMarine Biotechnologies, GlycoMar, Cellgen Biologicals Pvt Ltd., Nurture Aqua Technology Pvt. Ltd., Samudra Biopharma Pvt. Ltd, and Sanosil Biotech |
| Key Market Opportunities | Rising demand from the agricultural and pharmaceutical sectors |
| Key Market Dynamics | The availability of different biological products over synthetic products across the globe and growing research & development activities and expenditures |
The global Blue Biotechnology market was valued at USD 1.4 billion in 2022, and it is estimated to reach USD 1.5 billion by 2030.
The global market is projected to grow at a CAGR of 14.20% during the forecast period, 2023-2032
North America had the largest share in the global market
The key players in the market are Aker BioMarine, Marinova, New England Biolabs, PML Applications Ltd., Sea Run Holdings, Inc., PICES, Donald Danforth Plant Science Center, Shell Marine Products, GeoMarine Biotechnologies, GlycoMar, Cellgen Biologicals Pvt Ltd., Nurture Aqua Technology Pvt. Ltd., Samudra Biopharma Pvt. Ltd, and Sanosil Biotech
The Enzymes Product dominated the market in 2022.
The Vaccine Development Application had the largest share in the global market.
Report Code :
RL6540
Published on :
Aug 2023
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