NEW YORK, United States, Aug. 03, 2023 (GLOBE NEWSWIRE) -- Zion Market Research has published a new research report titled “Marine-Derived Pharmaceuticals Market - Global Industry Analysis, Size, Share, Growth, Trends, And Forecast, 2023 - 2030” in its research database. According to the latest research study, the demand of global Marine-Derived Pharmaceuticals Market size & share was valued at approximately USD 2561.47 million in 2022. The market is expected to grow above a CAGR of 7.74% and is anticipated to reach over USD 4316.97 million by 2030.
Marine-Derived Pharmaceuticals Market Overview:
Marine life has become an essential source of therapeutic drugs with a novel mechanism. Marine-derived pharmaceuticals are a rich source of chemical varieties that offer the development of potentially useful pharmaceuticals. Few marine-derived drugs are approved by concerned authorities. However, unexplored marine life is emerging as an area of high interest to the pharmaceutical industry and biotechnologists due to the fact that it contains an abundance of pharmacology technology that can be very useful for the development of several useful drugs.
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Key Insights from Primary Research
- As per the analysis, the marine-derived pharmaceuticals market share is likely to grow above a CAGR of around 7.74% between 2023 and 2030.
- The marine-derived pharmaceuticals market size was worth around USD 2561.47 million in 2022 and is estimated to hit approximately USD 4316.97 million by 2030. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
- The rising prevalence of chronic diseases has emerged as a major concern for health authorities worldwide is the main growth factor of marine-derived pharmaceuticals market.
- By mode of delivery, the antitumor drug segment holds domination over others due to its growing utilization in treating cancer.
- By source, the invertebrates segment accounts for the largest share in the global marine-derived pharmaceuticals market.
- On the basis of region, the “North America” Will Likely Overtake the Global Market.
Global Marine-Derived Pharmaceuticals Market: Growth Factors
Rising incidences of several chronic diseases have emerged as a primary concern for health authorities globally. Governments are investing huge funds for developing advanced solutions to lower the rising burden of chronic ailments on health infrastructure. However, many studies have concluded that marine organisms are high-quality resources offering effective solutions for many life-threatening ailments like Alzheimer's diseases, Harper’s, cancer, and others.
Such a landscape along with a growing success rate is one of the major factors driving the growth of the global marine-derived pharmaceuticals market. Some of the marine organisms that are currently being used for deriving therapeutic drugs include tunicates, deep-sea bacteria, mollusk, and sponges.
The surge in ethanol preparation for exploring automated pharmacological bioassays will offer ample thrust to the growth of the market. Polyunsaturated fatty acids including docosahexaenoic and eicosapentaenoic acid are some of the applications in marine pharmacology. Marine biotechnology is transforming, catering to the growing prevalence of unmet medical requirements of pharmaceutical products. However, the expectation of potential pipeline drugs including anticancer therapeutics is likely to hold immense growth prospects in the global marine-derived pharmaceuticals market in forthcoming years.
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The report contains qualitative and quantitative research on the global Marine-Derived Pharmaceuticals Market, as well as detailed insights and development strategies employed by the leading competitors. The report also provides an in-depth analysis of the market's main competitors, as well as information on their competitiveness.
Some of the main players in the global Marine-Derived Pharmaceuticals market include;
- Sanofi S.A.
- Aphios Corporation
- Sea Run Holdings Inc.
- Aker BioMarine AS
- Abbvie Inc
- GlaxoSmithKline PLC
- Pharma Marine USA
- LLC
- Takeda Oncology’s Millennium
- Bayer Innovation Marine Polymer Technologies Inc.
- Abbott Laboratories
Global Marine-Derived Pharmaceuticals Market: Segmentation
The global marine-derived pharmaceuticals market can be segmented into end-user, mode of delivery, source, type, and region.
By end-user, the market can be segmented into online pharmacy, retail pharmacy, hospitals, and others. By mode of delivery, the market can be segmented into anti-inflammatory, antiviral, anti-cardiovascular, antitumor, antimicrobial, and others. The antitumor drug segment holds domination over others due to its growing utilization in treating cancer. Furthermore, antitumor drugs are preferred as they help in treating the problems of several other chronic diseases also.
By source, the market can be segmented into microorganisms, invertebrates, algae, and others. The invertebrates segment accounts for the largest share in the global marine-derived pharmaceuticals market as it is one of the major groups of organisms used in the drug development process. Furthermore, marine invertebrates like crustaceans and mollusks are associated with many medicinal benefits which can help in enhancing human health. By type, the market can be segmented into tunicates, sponge, mollusk, peptide, ethers, steroid, phenol, and others.
Regional Analysis:
North America accounts for the largest share in the global marine-derived pharmaceuticals market due to the growing investments in marine pharmacology in the region by both the federal government and private entities. The growing awareness among people regarding leveraging the marine diaspora for the drug development process will also accentuate the growth of the regional market. Also, the high prevalence of chronic diseases like cancer and several infectious diseases in the region will also pose huge demand for marine pharmacology.
Asia Pacific is expected to grow with a high CAGR in forthcoming years due to the fast-proliferating pharmaceutical sector in the region. Also, the ongoing technological advancements in the field of marine micro biotechnology will further promulgate the growth of the regional market.
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Key questions answered in this report:
- What is the market size and growth rate forecast for Marine-Derived Pharmaceuticals industry?
- What are the main driving factors propelling the Marine-Derived Pharmaceuticals Market forward?
- What are the leading companies in the Marine-Derived Pharmaceuticals Industry?
- What segments does the Marine-Derived Pharmaceuticals Market cover?
- How can I receive a free copy of the Marine-Derived Pharmaceuticals Market sample report and company profiles?
Report Scope:
| Report Attribute | Report Details |
| Market Size in 2022 | USD 2561.47 Million |
| Market Forecast in 2030 | USD 4316.97 Million |
| Growth Rate | CAGR of 7.74% |
| Base Year | 2022 |
| Forecast Years | 2023- 2030 |
| Key Companies Covered | Sanofi S.A., Aphios Corporation, Sea Run Holdings Inc., Aker BioMarine AS, Abbvie Inc, GlaxoSmithKline PLC, Pharma Marine USA, LLC, Takeda Oncology’s Millennium, Bayer Innovation Marine Polymer Technologies Inc., Abbott Laboratories. |
| Segments Covered | By End-user, By Mode Of Delivery, By Source, By Type, And By Region |
| Regions Covered | North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa |
| Customization Scope | Avail customized purchase options to meet your exact research needs. |
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The global marine-derived pharmaceuticals market is segmented as follows:
By End-user:
- Online Pharmacy
- Retail Pharmacy
- Hospitals
- And Others
By Mode Of Delivery:
- Anti-inflammatory
- Antiviral
- Anti-cardiovascular
- Antitumor
- Antimicrobial
- Others
By Source:
- Microorganisms
- Invertebrates
- Algae
- And Others
By Type:
- Tunicates
- Sponge
- Mollusk
- Peptide
- Ethers
- Steroid
- Phenol
- Others
By Region
- North America
- The U.S.
- Canada
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Southeast Asia
- Rest of Southeast Asia
- The Middle East & Africa
- GCC
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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