Marine Biotechnology Market 2024-2033 : Market Size, Top Segments, Leading Region Forecast

"The Business Research Company recently released a comprehensive report on the Global Marine Biotechnology Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

According to The Business Research Company's, The marine biotechnology market size has grown strongly in recent years. It will grow from $5.79 billion in 2023 to $6.25 billion in 2024 at a compound annual growth rate (CAGR) of 7.9%. The growth in the historic period can be attributed to environmental concerns, bioprospecting opportunities, pharmaceutical and nutraceutical demand, aquaculture innovation, bioenergy exploration..

The marine biotechnology market size is expected to see strong growth in the next few years. It will grow to $8.28 billion in 2028 at a compound annual growth rate (CAGR) of 7.3%. The growth in the forecast period can be attributed to climate change mitigation, bioremediation applications, pharmaceutical drug discovery, food security solutions, bioinformatics integration.. Major trends in the forecast period include aquatic biotechnology in personal care, synthetic biology in marine organisms, marine biotechnology collaborations, climate-resilient agriculture, marine biotechnology education and awareness..

Get The Complete Scope Of The Report @
https://www.thebusinessresearchcompany.com/report/marine-biotechnology-global-market-report

Market Drivers and Trends:

The increase in demand for marine biotechnology in the energy sector is expected to propel the growth of the marine biotechnology market going forward. The energy sector is a group of businesses that participate in extracting, refining, or providing consumable fuels such as coal, oil, and gas. Marine biotechnology contributes to the development of more efficient and ecologically friendly energy systems, such as those that use marine microbes to convert trash into electricity and microalgae to produce biofuels. Marine biotechnology is important in the energy sector because it uses marine organisms' unique features and capabilities for various applications, such as Biofuel generation, marine renewable energy, biodegradable products, and bioremediation. Thus, an increasing energy sector will boost the growth of the marine biotechnology market. For instance, in January 2022, according to a report released by the International Energy Agency (IEA), a France-based autonomous intergovernmental organization that provides analysis and data on the global energy sector, global energy demand increased by 6% in 2021. The growth of more than 1,500 terawatt-hours in 2021 was the biggest ever, measured in absolute terms. The report predicts an average annual increase in electricity demand of 2.7% for 2022-2024. Therefore, the rise in demand for marine biotechnology in the energy sector drives the marine biotechnology market.

Product innovations are a key trend gaining popularity in the marine biotechnology market. Major companies operating in the marine biotechnology market are focused on innovating new products to strengthen their position in the market. For instance, in January 2021, Jellagen, a UK-based marine biotechnology company, launched jellyfish collagen hydrogel JellaGel, the first collagen type 0 hydrogel. A 3-dimensional hydrogel makes a significant difference by allowing cells to develop and interact with their environment. It has been demonstrated that 3D-grown cells exhibit better cell viability, morphology, proliferation, and differentiation than 2D-grown cells. The development of JellaGel as a potential matrix for new drug screening models or in the creation of human tumor xenograft models as part of cancer drug discovery programs is made possible by these crucial qualities. This new biomaterial, Collagen Type 0, is a chemical invention that offers the market an effective substitute for the traditional scaffold supplies utilized in 3D cell culture. The distinct qualities of JellaGel will now be used by researchers.

Key Benefits for Stakeholders:

• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.

Ready to Dive into Something Exciting? Get Your Free Exclusive Sample of Our Research Report @
https://www.thebusinessresearchcompany.com/sample.aspx?id=10814&type=smp

Major Key Players of the Market:

Cyanotech Corporation; CP Kelco US Inc.; PharmaMar S.A.; Sea Run Holdings Inc.; Nofima A.S.; New England Biolabs Inc.; Lonza Group Ltd.; NovaMatrix; GlycoMar Ltd.; SEPPIC Inc.; Marinova Pty. Ltd.; Prolume Ltd.; Aker Biomarine Antarctic AS .; Badische Anilin- und Sodafabrik; Nutrex Hawaii Inc.; Royal DSM N.V; Tequesta Bioventures LLC; Marinomed Biotech AG; AstaReal Co. Ltd.; Euglena Co.Ltd.; Earthrise Nutritionals LLC; Bluebiotech International GmbH; Sams Corporation; Abbott Laboratories; Qingdao Codo International Ltd.; Nutrex Hawai Inc.; Kepley Biosystems Incorporated; Finless Foods Inc.; Jellagen Pty Ltd; Ingenza Ltd; AMSilk GmbH; Centre for Process Innovation Limited; KnipBio Inc.

Marine Biotechnology Market 2024 Key Insights:

• The marine biotechnology market will grow to $8.28 billion in 2028 at a compound annual growth rate (CAGR) of 7.3%.
• The Surge In Marine Biotechnology Demand Fuelling Market Growth In The Energy Sector
• Advancements In Product Offerings Driving Growth In The Marine Biotechnology Market
• Europe was the largest region in the marine biotechnology market in 2023

We Offer Customized Report, Click @
https://www.thebusinessresearchcompany.com/Customise?id=10814&type=smp

Contact Us:

The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info

Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ "

Learn More About The Business Research Company

The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.

This release was published on openPR.