Press release
Marine Biotechnology Market- Global Opportunity Analysis and Industrial Forecast, 2021-2030
The Global market size of Marine Biotechnology is $XX million in 2020 with XX CAGR, and it is expected to reach $XX million by the end of 2030 with a CAGR of XX% from 2021 to 2030.
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Comprehensive competitive analysis and profiles of major market players such as Aker BioMarine AS (Norway), BASF SE (Germany), CP Kelco (USA), Cyanotech Corp. (USA), GlycoMar Ltd. (UK), Lonza Group Ltd. (Switzerland), Marinova Pty Ltd (Australia), New England Biolabs Inc (USA), NovaMatrix (Norway), Nutrex Hawaii Inc., (USA),oceanBASIS GmbH (Germany), PharmaMar S.A (Spain), Prolume Ltd (USA), BioLume, Inc. (USA) are provided in this report.
Key Benefits of the Report
This report presents the detailed study of the marine biotechnology market along with its current trends and future investment scope.
This study has complete information regarding key drivers, restraints, new technological development in the marine biotechnology market.
The market is analyzed from 2020 to 2028 to highlight the growth of the marine biotechnology market.
Porter’s five forces analysis illustrates the potency of buyers and suppliers in the market.
The report provides a detailed marine biotechnology market analysis based on competition between key players and how it will shape in upcoming years.
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Top Impacting Factors
Growth in usage of marine products in food, cosmetics, and agriculture industries drives the market for marine biotechnology. In addition, advances in drug discovery, fisheries, and aquaculture are the factors that drive the market. Lack of R&D investment in biotechnology is constraining the growth of the market. Lack of exploration in oceans is constraining the growth as many untold marine resources (animals and plants) are extinct even before their proper useful characteristics are discovered.
Energy supply on a global scale is increasingly needed and marine biotechnology can make an important contribution to meeting these energy needs in very different ways. Microbial Enhanced Oil Recovery (MEOR), for example, a bio-based approach to enhancing the recovery efficiency of fossil oil reserves, could help to increase the life of mature oil reservoirs. Cultivating microalgae for bio-energy generation is a big challenge and one of marine biotechnology’s key objectives. Thus, owing to these factors, the market of marine biotechnology is anticipated to rise during the forecast period.
Expensive discovery process and regulations from government act as a restraint to the market. Other than that, many barriers exist in the market such as the technical barriers, related to the expensive discovery process, limited capacity to develop organisms in the laboratory and on large-scale financial barriers, due to the relatively low profile of marine biotechnology resulting in underfunding, and legal and regulatory barriers, particularly regarding access to marine resources. A limiting factor for the sector could well be the increased need for large infrastructure investments. Hence, owing to such barriers, the marine biotechnology market is anticipated to face hurdles during the forecast period.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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