Marine Derived Pharmaceuticals Market Overview 2030:
Unexplored marine life has recently been the field of interest to biotechnologists and pharmaceutical industries owing to the abundance of unexplored pharmacology technology and materials that can be used for drug delivery and development. Only a few of the previously discovered marine microorganisms have proven to be potential sources of therapeutics. Some of these include sponges, sea fans, and soft corals. Recently, specific developments have been made in labs around the world in search for potential marine technologies that can aid in the treatment of diseases such as cancer and HIV/AIDS.
COVID-19 Impact Analysis
Pharmaceutical and biotech companies together with the governments around the globe are working to address the COVID-19 outbreak, from vaccines development to medicine supply chain planning.. Approximately 115 vaccine candidates and 155 molecules are in the R&D pipeline. Moreover, commonly used drugs such as Hydroxychloroquine have witnessed a significant increase in demand for the treatment of COVID-19. Such increase in demand for these drugs has presented huge opportunities for manufacturers of COVID-19 management drugs, as many developed countries are experiencing a shortage of these drugs. Thus, the pharmaceutical and biotechnology industries are expected to significantly grow in the future owing to the demand for COVID-19 vaccine and the treatment medicines.. This is expected to have a substantial impact on the marine derived pharmaceuticals market.
Top Impacting Factors
- The rise in number of cases of chronic diseases such as tuberculosis and malaria. is anticipated to drive the growth of the marine- derived pharmaceutical industry.
- The introduction of new -age technological developments along with rise in research and developments in the field of marine exploration particularly in highly industrialized markets is anticipated to further drive the marine derived pharmaceuticals market growth.
- The general shift of professionals toward research into unknown marine life to establish new therapeutic drugs that can be developed through marine life is expected to fuel to the growth of the marine derived drugs market.
- Opportunities in marine pharmacy are also expanding owing to increased awareness among less developed countries that have a high percentage of water. These include Thailand, the Maldives, Brazil and other countries.
- High processing and development costs associated with marine- derived pharmacy products along with low purchasing parity across the globe are anticipated to hinder the marine derived pharmaceuticals market growth.
- The complete shift of healthcare infrastructure toward eliminating the COVID-19 pandemic has resulted in product delays and cancellations for marine -derived pharmaceuticals in terms of product launches and clinical trials.
Key Market Trends
- North America is expected to dominate the growth of the marine drug market owing to rise in investments in marine pharmacology by both private entities and the federal government at the helm as well as increased public awareness about leveraging unknown marine diaspora for aid in drug development.
- Brazil and Argentina are on the verge of huge market gains as they have the largest rainforest area in the world. To this date, the Amazon rainforest is completely inhabited and mostly unexplored which provides enormous opportunities for marine biology experts to discover new marine bioactive materials that could be used in drug manufacturing.
- The use of chitosan along with nanotechnology shows promising results in pilot tests as far as the development of an anticancer drug delivery system is concerned (DDS)
- Scripps Institution of Oceanography and Marine Biotechnology (SIOMB) researchers in collaboration with Skaggs School of Pharmacy and Pharmaceutical Sciences, University of California (SSPPS) are working on clinical trials of 3RNA families for the development of advanced antiviral therapeutics.
- A fungus derived from seagrass in the Bahamas is currently being tested. The microbe has shown promising results in destroying the vascular system of a lung tumor when used in combination with chemotherapy.
- Researchers at a California marine lab are working at prospects of using Hercules, a robotic vessel that will be sunk into ocean- going as deep as 5000meters below sea level off the coast of California beach. The vessel takes 10 days to discover new bioactive materials and unknown marine technology that can potentially be used in the future to develop advanced therapeutics.
Key Benefits of the Report
- This study presents the analytical depiction of the marine derived pharmaceuticals industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the marine derived pharmaceuticals market share.
- The current market is quantitatively analyzed to highlight the growth scenario of the marine derived pharmaceuticals market.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed analysis depending on competitive intensity and the competition that will take shape in the upcoming years.
Questions Answered in the Marine Derived Pharmaceuticals Report
- Who are the leading market players active in the marine derived pharmaceuticals market?
- How is each segment of the market expected to grow during the forecast period?
- What are the adoption trends for the marine- derived pharmaceuticals market in emerging economies and established economies across the world?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities of the market?
- What are the future projections that would help in taking further strategic steps?
- What are the impacts of COVID-19 on the industry?
- What are marine -derived pharmaceuticals?
- What is the prediction of the marine- derived pharmaceuticals market in the future?
- What are the current and predicted trends?
Marine Derived Pharmaceuticals Market Report Highlights
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 Key Market Players | GlaxoSmithKline PLC, Marine Polymer Technologies, Inc., Abbvie Inc, Aker BioMarine AS, Aphios Corporation, Bayer Innovation, Takeda Oncology’s Millennium, Sanofi S.A., Abbott Laboratories, Sea Run Holdings, Inc. |
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