Luton, Bedfordshire, United Kingdom, Aug. 25, 2022 (GLOBE NEWSWIRE) -- Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the Marine Pharmaceuticals Market.
Marine Pharmaceuticals Market exhibiting a CAGR of 8.59% and is expected to reach USD 47218.50 million by 2029
Major players in the Amway Corp., BASF SE, BeyondSpring Inc., BioMarin Pharmaceutical Inc., Bristol Myers Squibb Co., Eisai Co. Ltd., GlaxoSmithKline Plc, Guardian Industries Corp
Marine Pharmaceuticals Market
Only a handful of the marine micro-organisms that have been previously found have shown to be viable sources of Marine Pharmaceuticals Market. Sponge, sea fan, and soft corals are a few examples. In recent years, specific advancements have been made in laboratories all over the world in the search for marine technologies that might help treat diseases like cancer and HIV/AIDS. Because there is a wealth of untapped pharmacology technology and materials that can be used for medication administration and development, unknown marine life has recently attracted the attention of biotechnologists and the pharmaceutical industry.
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Rising Interest in Marine Pharmaceuticals to Promote Growth
Hercules, a robotic ship that will be lowered as far as 5000 meters below sea level off the coast of California, is being investigated by researchers at a marine facility in California. It takes the vessel ten days to unearth novel bioactive substances and marine technologies that may one day be applied to the development of Marine Pharmaceuticals Market.
Marine Pharmaceuticals Market: Recent Development
- BeyondSpring Inc. - The company offers PLINABULIN which is a cell modulator with potential anticancer and chemotherapy-induced neutropenia prevention benefits.
- BioMarin Pharmaceutical Inc. - The company offers the development and commercialization of marine pharmaceutical products for therapies in rare genetic diseases.
- Bristol Myers Squibb Co. - The company offers Marizomib which is a potent proteasome inhibitor being studied as a potential anticancer agent.
| Report Metric | Details |
| Base Year Considered | 2021 |
| Forecast Period | 2022-2029 |
| Forecast Unit | Value (USD) |
| Segments Covered | Type, Source, Mode of Delivery, End User, and Region |
| Regions Covered | North America, Europe, Asia-Pacific, and LAMEA |
| Companies Covered | Amway Corp., BASF SE, BeyondSpring Inc., BioMarin Pharmaceutical Inc., Bristol Myers Squibb Co., Eisai Co. Ltd., GlaxoSmithKline Plc, Guardian Industries Corp., Jazz Pharmaceuticals Plc, Koninklijke DSM NV, Merck KGaA, Nordic Naturals Inc., Pelagia EPAX, Pfizer Inc., Pharma Marine AS, PharmaMar SA, Seagen Inc., and Croda International Plc, Others |
Marine Pharmaceuticals Market Key Players
Marine Pharmaceuticals Market Major Key Players include: - Amway Corp., BASF SE, BeyondSpring Inc., BioMarin Pharmaceutical Inc., Bristol Myers Squibb Co., Eisai Co. Ltd., GlaxoSmithKline Plc, Guardian Industries Corp., Jazz Pharmaceuticals Plc, Koninklijke DSM NV, Merck KGaA, Nordic Naturals Inc., Pelagia EPAX, Pfizer Inc., Pharma Marine AS, PharmaMar SA, Seagen Inc., and Croda International Plc, Others
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Marine Pharmaceuticals Market Segmentation
By Product, it is segmented into
- Oncology
- Cardiovascular
- Anti-infectives
- Others
Marine Pharmaceuticals Market Trends
- One of the significant market trends for Marine Pharmaceuticals Market driving the industry growth is the use of marine peptides as anti-infectives.
- The potential of peptides derived from marine sources as anti-infective medicines has drawn more attention from researchers.
- Peptides from marine sources are particular protein fragments that serve as sources of nitrogen and amino acids and have a variety of possible physiological uses.
- The peptides' main sources are fish, algae, crab, marine bacteria, and fungi.
Marine Pharmaceuticals Market: Regional Analysis
North America is predicted to lead the expansion of the marine drug market, due to growing investments in marine pharmacology by both corporate and public organisations, as well as increased public awareness about using the untapped marine diaspora for assistance in medication development.
Brazil and Argentina are poised to experience significant market growth. Since the Amazon jungle is still entirely populated and mostly unexplored, marine biologists have a tonne of opportunity to find novel marine bioactive substances that could be employed in medicine production.
Marine Pharmaceuticals Market: Top Impacting Factors
- The growth of the Marine Pharmaceuticals Market is projected to be fueled by the increase in incidence of chronic diseases like malaria and tuberculosis.
- The Marine Pharmaceuticals Market is expected to grow as a result of the introduction of cutting-edge technological innovations as well as an increase in research and development in the field of marine exploration, particularly in highly industrialized markets.
- The market for marine-derived pharmaceuticals is anticipated to rise as a result of the general shift in professional focus toward research into undiscovered marine species in order to generate novel therapeutic drugs that can be developed through marine life.
- Due to growing knowledge in less developed nations that have a lot of water, opportunities in marine pharmacy are also growing. Thailand and the Maldives are a few of these.
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