21/12/2018 Other Services
Blue Biotechnology Market is likely to grow the US $6.4 billion by 2026 at a CAGR of 10.2% during forecast period. The term ‘Blue Biotechnology’ can be divided into two sub- terms; Blue comes from the color of the water from oceans and Biotechnology is the study of biological processes, organisms, and systems to make products that increase the quality of human life. Blue Biotechnology is the function of Biotechnology to marine resources at a molecular level to extract active new ingredients or research & develop new drugs and similar other products.
The rising need for Blue Biotechnological products in the pharmaceutical sector for manufacturing drugs and medicines for the different type of diseases in human beings is busting the growth of this market.
The blue biotechnology market is segmented by product, by application, by end-user, and by region. The blue biotechnology market by product is categorized into pharmaceutical, biofuels, food, enzymes, biopolymers, and others. Pharmaceutical blue biotechnological molecules are used to produce drugs for anti-cancer, HIV, and Alzheimer’s diseases.
Depending on the application, the blue biotechnology market is divided into vaccine development, drug finding, genomics, and among others. In genomics, the blue biotechnology is applied in various uses such as pharmacogenomics, genetic engineering, probes, DNA/RNA sequencing, synthesis or engineering of proteins and peptides which includes larger molecular hormones.
Based on the end-user type, the blue biotechnology market is further segmented into hospitals, pharmaceutical industries, Biotechnological industries, research organizations, research laboratories and among a few others.
By region, the blue biotechnological market is separated into North America, Europe, Asia-Pacific, the Middle East and Africa, and Latin America. North America is having the highest growth due to fast development in biotechnology and huge competition.
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