Blue biotechnology refers to the use of marine bio-resources as the source of biological applications. Blue biotechnology is used in various applications such as preservation of marine species, restoration of the aquatic wildlife in its original habitat. This field is also used to develop new medicines as well as conduct genetic study of plants. The increase in commercial applications of blue biotechnology has witnessed growth during the recent years, due to the adaptive nature of marine resources.
MARKET SCOPE
The "Global Blue Biotechnology Market Analysis to 2028" is a specialized and in-depth study of the healthcare industry with a special focus on the global market trend analysis. The report aims to provide an overview of the blue biotechnology market with detailed market segmentation by product, application, end user, and geography. The report provides key statistics on the market status of the leading blue biotechnology market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on product, the market is segmented as, biopolymers, bulk chemicals, enzymes, pharma products, and other products.
- The blue biotechnology market is categorized based on application such as, bio-engineering, drug discovery, genomics, vaccine development, and other applications.
- Based on end user, the market is categorized such as, biotechnology companies, pharmaceutical companies, hospitals, research institutes & laboratories, and other end users.
MARKET DYNAMICS
Drivers:
- Rising awareness regarding the use of synthetic medicines
- Growing use of algae to produce drugs
- Increasing in R&D investments made by government bodies as well as private entities for drug discovery
- Other body surgeries owing to beauty development
Restraints:
- Strict rules related to marine ecosystem conservation
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The blue biotechnology market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the blue biotechnology market in these regions.
IMPACT OF COVID-19 ON BLUE BIOTECHNOLOGY MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.
MARKET PLAYERS
The report covers key developments in the blue biotechnology market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from blue biotechnology market are anticipated to lucrative growth opportunities in the future with the rising demand for blue biotechnology in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the blue biotechnology market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Aker BioMarine AS
- GeoMarine Biotechnologies
- GlycoMar
- Marinova Pty Ltd
- New England Biolabs.
- Nurture Aqua Technology Pvt. Ltd.
- PML Applications Ltd
- Sanosil Biotech
- Sea Run Holdings, Inc.
- Shell