Blue Biotechnology Market Analysis

Global Blue Biotechnology Market Overview

Blue Biotechnology Market Size was valued at USD 0.5 Billion in 2023. The Blue Biotechnology market industry is projected to grow from USD 0.5715 Billion in 2024 to USD 1.3 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 10.82% during the forecast period (2024 - 2032). Numerous organic products are preferred over synthetic ones everywhere, and research and development activity and prices are increasing, are the key market drivers enhancing the market growth.

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Blue Biotechnology Market Trends

• The availability of different biological products over synthetic products across the globe is driving the market growth

The growth of the blue biotechnology industry is attributed to the accessibility of various biological goods on a worldwide scale as opposed to synthetic goods. In addition, growing R&D expenditures and initiatives have considerably advanced blue biotechnology. The demand for blue biotechnology is also increasing as a result of the pharmaceutical and cosmetics sectors' explosive demand for products like various medications, cosmetics, and medicines. The market for blue biotechnology is being restricted by stricter rules and regulations as NGOs and governments throughout the world increase their efforts to safeguard aquatic and marine areas.

The flow of money generated by the overproduction of common products is one of the main drivers promoting the growth of the blue biotechnology sector. The field of blue biotechnology is advancing quickly due to increased use, assessment, and improvement initiatives. As a result, it is contributing to the growth of the market. The rising employment of various blue biotechnology items in different endeavours is helping the market. The market is expanding at a faster rate as a consequence of Blue Biotechnology's premium increasing due to filling revenues from products like various prescriptions, medications, and remedial items in the excellence care products and medication ventures. For instance, the market is expanding as more people turn to alternative pharmaceuticals rather than traditional treatments to manage their illnesses. Globally expanding initiatives by governments and non-governmental organisations (NGOs) to safeguard the marine and maritime environment have led to the adoption of a variety of strict regulations and legislation that are restricting the growth of the blue biotechnology industry.

Uses for marine biotechnology include medicine, biofuels, the environment, health management, reproduction, and nutrition, to name just a few. For example, Fish gonadotropin hormone is created using recombinant DNA technology and crude pituitary gland preparation. Food: To increase the metabolism of the carbohydrates that carnivorous fish consume, hexokinase and glucose genes were transplanted. health improvement and maintenance through the use of the polymerase chain reaction (PCR) for disease diagnosis. The Indian National Institute of Ocean Technology will create anti-aging cosmetics in July 2021 utilising microorganisms found in the deep sea.

As the demand for sea-based resources in agriculture and cosmetics rises, so does the market for marine biotechnology. As a result of the rising demand for nutritional supplements made from marine-derived materials, the market for marine biotechnology is growing. New developments and discoveries in the fields of aquaculture, fisheries, and pharmaceutical research and development are the key drivers of market expansion. Recently, Bluu Biosciences received funding to create fish-related products using cell culture. Aquatic animal management is growing more and more popular, which promotes industrial development. Thus, driving the Blue Biotechnology market revenue.

Blue Biotechnology Market Segment Insights

Blue Biotechnology Product Insights

The Blue Biotechnology market segmentation, based on Product, includes Enzymes, Pharma Products, Bulk Chemicals, Biopolymers, and Others. Enzymes segment dominated the market in 2022. Two varieties of cultivated marine microalgae, spirulina and dunaliella, include beta-carotene, omega-3 fatty acids, and antioxidants. Carotene is a precursor to vitamin A and the numerous health benefits of omega-3 fatty acids.

Blue Biotechnology Application Insights

The Blue Biotechnology market segmentation, based on Application, includes Bioengineering, Genomics, Vaccine Development, Drug Discovery, and Others. Vaccine development segment dominated the market in 2022. Extracts from marine animals have recently been used in the creation of vaccinations. Marine resources don't need to be continuously extracted from marine life thanks to biotechnology, which has been utilised to recreate them in the lab. While some have already reached the commercial stage, others are still undergoing clinical or pre-clinical testing.

Blue Biotechnology End User Insights

The Blue Biotechnology market segmentation, based on End User, includes Hospitals, Pharmaceutical Companies, Biotechnology Companies, Research Institutes, Laboratories, and Others. Pharmaceutical companies segment dominated the Blue Biotechnology market in 2022.The chemistry of natural chemicals derived from marine organisms has been the subject of a great deal more study in recent years. Medical biotechnology is the process of creating pharmaceutical and diagnostic products that aid in the diagnosis, treatment, and prevention of human diseases using living cells and cell components.

Figure 1: Blue Biotechnology Market, by End User, 2023 & 2032 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Blue Biotechnology Regional Insights

By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North America Blue Biotechnology Market dominated this market in 2022 (45.80%). North America's improved and advanced healthcare and research facilities, together with biotechnology firms that provide marine-based products, are what are causing the business to thrive.Further, the U.S. Blue Biotechnology market held the largest market share, and the Canada Blue Biotechnology market was the fastest growing market in the North America region.

Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: BLUE BIOTECHNOLOGY MARKET SHARE BY REGION 2023 (USD Billion) 

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe Blue Biotechnology market accounted for the healthy market share in 2022. This is so because the government promotes the use of products with marine origins. Therefore, the finances and investments made by the government are what are fueling the industry's expansion.Further, the German Blue Biotechnology market held the largest market share, and the U.K Blue Biotechnology market was the fastest growing market in the European region.

The Asia Pacific Blue Biotechnology market is expected to register significant growth from 2023 to 2032. This is due to increased consumer knowledge of and demands for products utilising blue biotechnology in the production of vaccinations. There is a growing market for blue biotechnology products in the cosmetic manufacturing industry, and there are numerous biotechnology companies active in the area that are involved in R&D. Moreover, China’s Blue Biotechnology market held the largest market share and the Indian Blue Biotechnology market was the fastest growing market in the Asia-Pacific region.

Blue Biotechnology Key Market Players & Competitive Insights

Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Blue Biotechnology market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Blue Biotechnology industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the Blue Biotechnology industry to benefit clients and increase the market sector. In recent years, the Blue Biotechnology industry has offered some of the most significant advantages to medicine. Major players in the Blue Biotechnology market, including Aker BioMarine, Marinova, New England Biolabs, PML Applications Ltd., Sea Run Holdings, Inc., PICES, Donald Danforth Plant Science Center, Shell Marine Products, GeoMarine Biotechnologies, GlycoMar, Cellgen Biologicals Pvt Ltd., Nurture Aqua Technology Pvt. Ltd., Samudra Biopharma Pvt. Ltd, and Sanosil Biotech, are attempting to increase market demand by investing in research and development Products.

Blue Water Biotech, Inc. is a biological and pharmaceutical technology company committed to developing and providing innovative medicines to address important health concerns. The company, which is based in Cincinnati, Ohio, is the maker of ENTADFI®, a once-daily pill containing finasteride and tadalafil and FDA-approved for the treatment of benign prostatic hyperplasia. Men can manage their benign prostatic hyperplasia symptoms with this combination without suffering the unfavourable side effects on their sexual health as those taking finasteride alone frequently do. Additionally, the organisation has a robust pipeline of vaccinations. Blue Water has the rights to the patented technology from the University of Oxford, Cincinnati Children's Hospital Medical Centre, St. Jude Children's Hospital, and The University of Texas Health Science Centre at San Antonio. Blue Water is working on a potential Streptococcus pneumoniae vaccine with the express purpose of avoiding pneumonia in the elderly and the highly contagious middle ear infection known as AOM in children.

Aker BioMarine ASA is a supplier of products made from krill with a fully owned supply chain. The company's activities include gathering krill in Antarctica with company-owned vessels, shipping it from Uruguay throughout the world, and further converting it into oil products in the United States. 1) The Ingredients category includes domestic manufacturing and sales of products made from krill as well as offshore harvesting and processing of those products. 2) The Brands business, which mainly consists of Epion and Lang Pharma Nutrition (Lang), concentrates on products for human consumption. Lang creates and distributes private-label vitamins and supplements to retailers in the U.S. market on behalf of Epion, the consumer brand company of Aker BioMarine.

Key Companies in the Blue Biotechnology market include

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  Aker BioMarine

  
  


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  Marinova

  
  


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  New England Biolabs

  
  


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  PML Applications Ltd.

  
  


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  Sea Run Holdings, Inc.

  
  


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  PICES

  
  


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  Donald Danforth Plant Science Center

  
  


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  Shell Marine Products

  
  


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  GeoMarine Biotechnologies

  
  


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  GlycoMar

  
  


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  Cellgen Biologicals Pvt Ltd.

  
  


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  Nurture Aqua Technology Pvt. Ltd.

  
  


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  Samudra Biopharma Pvt. Ltd

  
  


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  Sanosil Biotech

  
  

Blue Biotechnology Industry Developments

June 2023:Building a medical sales representative team to market a commercial product portfolio is a joint effort between Blue Water Biotech and IQVIA. The medications ZONTIVITY® and ENTADFI®, which are used to treat benign prostatic hyperplasia and prevent thrombotic cardiovascular events in people with peripheral artery disease or a history of myocardial infarction, respectively, stand out in this portfolio.

Blue Biotechnology Market Segmentation

Blue Biotechnology Product Outlook

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  Enzymes

  
  


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  Pharma Products

  
  


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  Bulk Chemicals

  
  


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  Biopolymers

  
  


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  Others

  
  

Blue Biotechnology Application Outlook

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  Bioengineering

  
  


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  Genomics

  
  


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  Vaccine Development

  
  


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  Drug Discovery

  
  


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  Others

  
  

Blue Biotechnology End User Outlook

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  Hospitals

  
  


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  Pharmaceutical Companies

  
  


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  Biotechnology Companies

  
  


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  Research Institutes

  
  


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  Laboratories

  
  


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  Others

  
  

Blue Biotechnology Regional Outlook