Asia Pacific Marine Biotechnology Market Forecast 2017-2026
KEY FINDINGS The Asia-Pacific marine biotechnology market is expected to growth at a CAGR of 5.67% during the forecast period of 2017-2026. The revenue generated by the market is anticipated to rise from $921million in 2016 to $ 1590 million by 2026.
MARKET INSIGHTS The various applications of the market are aquaculture, bioremediation, and biofuels. The market is mainly segmented by the type of products and end-users. The products segment is further divided into biomaterial, bioactive substances, and others. Whereas the end-users are segmented into industrial products, healthcare/biotechnology, consumer products, energy & infrastructure, etc. Large-scale exports of marine food products dominate the Asia Pacific marine biotechnology market with China being the world’s largest exporter of seafood with over 12% of the total market share. Factors such as the huge amount of research prevailing for marine biodiscovery and the new molecule identification methods are also expected to propel the market growth in this region.
COMPETITIVE INSIGHTS Some of the major players in the market are Abbott, Biolume Inc, Cyanotech Corporation, Biotech Marine (Subsidiary Of Air Liquid Group), Lonza Group Ltd, FMC Geomarine Biotech, Marinova, and BASF Se.