According to FutureWise analysis the market for marine derived pharmaceuticals in 2023 is US$ 4.13 billion, and is expected to reach US$ 7.89 billion by 2031 at a CAGR of 8.42%.
Many bioactive substances can be found in marine waters, which are used for their therapeutic properties. Market potential for marine-derived secondary metabolisms is what drives the marine-derived pharmaceuticals market. The key metabolites that are used in drug design and development include steroids, sterols and halogenated Terpenes. Research has also shown the potential for marine proteins and lipids to improve human health. Many marine sources have been identified as potential for pharmaceutical industries due to biotechnology advances made in both industrialized and developing countries. Numerous medications made from marine sources show promise in treating problems like high blood triglycerides, chronic pain, and viral disorders. The marine environment has a rich biodiversity because of its exceptional novelty, complexity, diversity, and abundance. This makes a variety of therapeutic choices available. Many animal and plant species were used to create compounds with anti-viral and anti-bacterial properties. These new drugs, combined with research in the marine sector, have the potential to significantly impact the global marine-derived pharmaceutical industry in the coming decades.
Algae, fish, crabs and marine bacteria are the main sources of bioactive compounds. Marine derived drugs are used primarily for the treatment of infectious diseases and anti-cancer therapies. The same sectors are expected to grow during the study period. While marine-derived drugs have been used for centuries in medical treatments, they are now growing at a rapid pace. Increasing awareness, molecular diversity and novel treatment options have allowed for rapid growth in marine drug research and development. Global funding has boosted research and development, as well as the possibility of patenting these novel drugs. Global demand for effective pharmaceutical products has led to an increase in the number of drugs derived from natural sources. This is especially true for cancer, inflammatory and neurodegenerative diseases, viral and fungal infections, and cancer. Some of the most remarkable automated pharmacological biological bioassays have been fueled by an increase in ethnobotanical products.
The marine-derived pharmaceuticals market has seen a rise in the number of new marine natural products over the past decade. The marine-derived pharmaceuticals market is dominated by the use of polyunsaturated fat acids such as eicosapentaenoic and docosahexaenoic. The major segments experiencing rapid growth in marine-derived pharmaceutical markets include anti-infection medication and oncology treatment . In the last few years, cancer has been one of the most common causes of death in the world. This is due to a higher survival rate and population growth than other diseases. There is a greater demand for innovative treatments and co-therapies, which has fueled a search for new compounds to combat all types of cancer. The market for marine-derived pharmaceuticals is experiencing record sales of new-formulated marine drugs.
FutureWise Market Research has instantiated a report that provides an intricate analysis of Marine Derived Pharmaceuticals Market trends that shall affect the overall market growth. Furthermore, it includes detailed information on the graph of profitability, SWOT analysis, market share and regional proliferation of this business. Moreover, the report offers insights on the current stature of prominent market players in the competitive landscape analysis of this market.
According to the research study conducted by FutureWise research analysts, the Marine Derived Pharmaceuticals Market is anticipated to attain substantial growth by the end of the forecast period. The report explains that this business is predicted to register a noteworthy growth rate over the forecast period. This report provides crucial information pertaining to the total valuation that is presently held by this industry and it also lists the segmentation of the market along with the growth opportunities present across this business vertical.