TechNavio recognizes the following companies as the key players in the Global Marine Biotech Market: Aker BioMarine AS, Aqua Bio Technology ASA, Cyanotech Corp., and Royal DSM NV.
Commenting on the report, an analyst from TechNavio’s team said: “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.”
According to the report, 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.
Further, the report states that 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 study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors. For further information on this report, please visit https://www.technavio.com/report/global-marine-biotech-market-2012-2016
TechNavio, the market research platform of Infiniti Research Ltd., publishes periodic market research reports on niche and emerging technologies. For more information on our market research, please visit https://www.technavio.com/healthcare-chemicals-food-retail
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TechNavio Announces the Publication of its Research Report -Global Marine Biotech Market 2012-2016
