The demand for marine-based drugs in the U.S. is expected to grow at a CAGR of 7.3% over the forecast period. This growth is driven by the high prevalence of chronic conditions like cancer, cardiovascular diseases, and neurological disorders, which are anticipated to boost the adoption of marine-derived therapies for treatment.

NEWARK, DE / ACCESSWIRE / November 18, 2024 / Future Market Insights (FMI) projects the marine-based drug market to grow from USD 4,177.9 million in 2024 to USD 9,275.9 million by 2034, with a robust CAGR of 8.3% over the forecast period.

The marine-based drug market explores bioactive compounds derived from marine organisms, offering innovative solutions for treating cancer, inflammation, and infectious diseases. Fueled by advancements in biotechnology and rising demand for natural therapeutics, the market showcases significant growth potential. With increasing R&D investments and breakthroughs in marine pharmacology, this sector is poised to revolutionize modern medicine.

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.

Key Takeaways from the Marine-based Drug Market Report:

• The global marine-based drug marketis expected to reach a valuation of USD 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 USD 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 Nandini Roy Choudhury, Client Partner at Future Market Insights.

Country-wise Insights

The table below explains the marine-based drug market size of the top five countries for 2034. Among them, the United States is anticipated to remain at the forefront by reaching a valuation of USD 1,864.46 million. The United Kingdom is expected to reach around USD 667.87 million by 2034, less than China's USD 723.52 million.

Key Growth Drivers in the Marine-Based Drug Market:

• Rich Biodiversity of Marine Ecosystems: The ocean is a vast reservoir of unique bioactive compounds with potential therapeutic applications, driving research and drug development.

• Rising Prevalence of Chronic Diseases: Increasing incidences of cancer, cardiovascular diseases, and other chronic illnesses boost demand for innovative marine-derived drugs.

• Advances in Biotechnology: Improved technologies like high-throughput screening and genomic sequencing aid in identifying and extracting marine-derived compounds efficiently.

• Supportive Government Policies and Funding: Growing investments and grants for marine biotechnology research enhance the pace of drug discovery and development.

• Expanding Pharmaceutical Applications: Marine-derived compounds are being explored for their antimicrobial, antiviral, anti-inflammatory, and anticancer properties, widening their therapeutic use.

• Collaborative R&D Efforts: Partnerships between academic institutions, research organizations, and pharmaceutical companies fuel innovation in marine drug development.

• Increased Consumer Awareness: A growing preference for natural and sustainable treatment options drives interest in marine-based therapeutics.

• Emerging Markets and Global Health Initiatives: Expanding healthcare access in developing regions increases the adoption of marine-based drugs.

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.

Download the full report for in-depth insights. https://www.futuremarketinsights.com/reports/marine-based-drug-market

Marine-based Drug Market Segmentation by Category

By Sales Channel:

• Prescription-based

• Over-the-counter

  • Drug Stores

  • Pharmacies

  • Retail Stores

  • Online Merchandizers

By Drug Type:

• Antibacterial

• Anti-inflammatory

• Neuroprotective

• Antiparasitic

• Antiviral Agent

• Anticancer

• Analgesic

• Antimicrobial

By Source:

• Algae

• Tunicate/Ascidiacea

• Marine Sponges

• Actinomycetes

• Mollusca

• Bryozoa

• Shark Cartilage

• Marine Fungi

• Soft Corals

By Form:

• Solid

• Liquid

• Semi Solid

By Region:

• North America

• Latin America

• Europe

• East Asia

• South Asia

• Oceania

• Middle East and Africa

Authored by:

Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.) has 7+ years of management consulting experience. She advises industry leaders and explores off-the-eye opportunities and challenges. She puts processes and operating models in place to support their business objectives.

She has exceptional analytical skills and often brings thought leadership to the table.

Nandini has vast functional expertise in key niches, including but not limited to food ingredients, nutrition & health solutions, animal nutrition, and marine nutrients. She is also well-versed in the pharmaceuticals, biotechnology, retail, and chemical sectors, where she advises market participants to develop methodologies and strategies that deliver results.

Her core expertise lies in corporate growth strategy, sales and marketing effectiveness, acquisitions and post-merger integration and cost reduction. Nandini has an MBA in Finance from MIT School of Business. She also holds a Bachelor's Degree in Electrical Engineering from Nagpur University, India.

Nandini has authored several publications, and quoted in journals including Beverage Industry, Bloomberg, and Wine Industry Advisor.

Explore FMI's related ongoing Coverage in Food and Beverage Domain:

The global microalgae-based aquafeed market value is forecast to total USD 279.6 million in 2024 and USD 575 million by 2034.

According to Future Market Insights, the global aquafeed market is expected to increase at a CAGR of 6.8% through 2033.

The global aquafeed additives market size is anticipated to reach USD 3.4 billion by 2033. It is estimated to record a steady CAGR of 4.3% in the review period 2023 to 2033.

The global freshwater microalgae market size is estimated to reach USD 658.7 million in 2023. From 2023 to 2033, global freshwater microalgae sales are likely to surge at a robust CAGR of 9.3%.

As per FMI's research, the pet food microalgae market is slated to reach USD 24 million by 2023. By the end of 2033, the market is pegged to achieve USD 38.3 million, meanwhile expanding at a CAGR of 5%.

The microalgae market is estimated to secure a valuation of USD 11.8 billion in 2023 and is predicted to reach USD 25.4 billion by 2033. The market is capturing a CAGR of 8% during the forecast period.

According to Future Market Insights (FMI) analysis, the demand for microalgae in fertilizers sector is projected to experience steady growth. Its overall valuation is expected to surpass USD 28.7 million by 2033, up from USD 11 million in 2023.

The health and medical microalgae market is estimated to capture a valuation of USD 729 million in 2023 and is projected to reach USD 1,337 million by 2033.

The global food and beverage microalgae market, valued at USD 125 million in 2023, is projected to grow steadily at a rate of 7% from 2023 to 2033.

The personal care and cosmetics microalgae market is anticipated to reach USD 61 million by 2023. The microalgae business in personal care and cosmetics is expected to reach USD 107.0 million by 2033, expanding at a CAGR of 6% between 2023 and 2033.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Join us as we commemorate 10 years of delivering trusted market insights. Reflecting on a decade of achievements, we continue to lead with integrity, innovation, and expertise.

Contact FMI:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware - 19713, USA
T: +1-347-918-3531
For Sales Enquiries: sales@futuremarketinsights.com
Website:https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube

SOURCE: Future Market Insights, Inc.