Marine-based Drug Market: Global Segments, Top Key Players, Size And Recent Trends By Forecast To 2034
According to Future Market Insights (FMI), the marine-based drug market is estimated to reach US$ 4,177.9 million in 2024 and US$ 9,275.9 million by 2034. The market is set to surge at a CAGR of 8.3% through 2034.
The marine-based drug market is driven by the increasing
need for novel therapies due to the surging incidence of chronic illnesses such
as cancer and infectious diseases. Technological developments are speeding up
the process of finding new drugs by enabling researchers to quickly &
accurately identify and characterize bioactive chemicals from marine compounds.
The market for marine-based drugs is expanding in emerging
economies, especially in areas with rich marine biodiversity, such as
Asia-Pacific and Latin America. Government initiatives, investment incentives,
and regulatory frameworks conducive to growth are expected to propel these
regions’ research & development efforts. The worldwide marine drug market
is expected to increase steadily due to factors such as the constant progress
in technology, growing awareness of environmental issues, and the need for more
efficient operations.
Information Source:
https://www.futuremarketinsights.com/reports/marine-based-drug-market
Key Takeaways from the Marine-based Drug Market Report:
- The
global marine-based drug market is expected to reach a
valuation of US$ 9,275.9 million by 2034
- Global
demand for marine-based drugs is projected to soar at an 8.3% CAGR over
the forecast period
- Germany
is projected to hold a significant value share of 10.4% in
the global market by 2034.
- The
United States marine-based drug market is projected to reach a valuation
of US$ 1,864.46 million by 2034.
- India
is expected to surge at a CAGR of 6.9% during the
forecast period.
- During
the forecast period, the United Kingdom is anticipated to grow at a CAGR
of 5.2%.
“The search for bioactive substances with therapeutic
potential in marine species is fueling the market for marine-based drugs, which
is expanding quickly. Technological advancements and interdisciplinary
cooperation provide opportunities for the discovery of innovative
drugs. Research organizations, pharmaceutical companies, biotechnology
businesses, and other stakeholders are working together to identify, extract,
and create bioactive chemicals in the marine-based drug industry.” – says
a lead analyst at Future Market Insights (FMI).
Competitive Landscape
Pfizer Inc., TerSera Therapeutics LLC., Janssen Products,
LP, Eisai Inc., Biotium, PharmaMar, and Zeltia ZEL.MC are key marine-based drug
manufacturers listed in the report. Leading manufacturers are focusing on
introducing new items to diversify their offerings. To remain relevant in the
market, they also employ collaborations, mergers, acquisitions, agreements, and
marketing tactics.
For instance,
- In
2024, PharmaMar announced the start of a clinical trial on solid
tumors with its new marine-derived chemical PM54.
- In
2023, Pfizer collaborated with Ginkgo Bioworks to focus on
discovering RNA-based drug candidates.
Get More Valuable Insights
Future Market Insights (FMI), in its new offering, provides
an unbiased analysis of the global marine-based drug market, presenting
historical demand data (2019 to 2023) and forecast statistics for the period
from 2024 to 2034.
The study incorporates compelling insights on the
marine-based drug market based on sales channel (prescription-based and
over-the-counter), drug type (antibacterial, anti-inflammatory,
neuroprotective, antiparasitic, antiviral agent, anticancer, analgesic, and
antimicrobial), source (algae, tunicate/ascidiacea, marine sponges,
actinomycetes, mollusca, bryozoa, shark cartilage, marine fungi, and soft
corals), and form (solid, liquid, and semi-solid) across regions.
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