According to a latest market research report “Marine-derived Drugs Market (Type – Phenol, Steroid, Ether, Peptide, and Other; Source – Algae, Invertebrates, and Microorganisms; Mode of Delivery – Anti-microbial, Anti-tumor, Anti-cardiovascular, Anti-viral, Anti-inflammatory, and Others): Global Industry Analysis, Trends, Size, Share and Forecasts to 2025” The global marine-derived drugs Market was sized near USD 10,486.8 million in 2018 and it is expected to reach USD 21,955.6 million by 2025. The global marine-derived drugs market is projected to grow with a CAGR of 11.20% during 2019-2025.
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The marine world has become an essential source of therapeutic agents with a novel mechanism of action. The demand for new drugs in the global markets is high and is expected to continue over the forecast period. This demand for new drugs has created opportunities in marine biotechnology. Marine-derived pharmaceuticals provide a novel and rich source of chemical diversity that can contribute to the design and development of new and potentially useful pharmaceutical agents. A handful of marine drugs have been approved by the United States Food and Drug Administration (USFDA). The industry consists of seven approved pharmaceuticals in clinical use, four of which are anticancer drugs.
The growing adoption of marine-derived drugs in the treatment of tumors causing diseases is driving the growth of marine-derived drugs market worldwide. They are also vastly being used in the treatment of infectious diseases, tuberculosis, malaria, osteoporosis, and HIV. In addition, the introduction of new screening technology and growing exploration of marine environment activities are majorly contributing to the growth of marine-derived drugs market. On the other hand, the high cost of processing and manufacturing of marine-derived drugs market are hampering the growth of this market. Moreover, ongoing research and developments in the Marine pharmacognosy are expected to create the huge demand of marine bioactive components in the drugs manufacturing over the forecast period. Additionally, the growing awareness about the marine-derived drugs is projected to serve various opportunities in the marine-derived drugs market in the near.
Peptide Segment Accounted to be the Largest Market Share in the Marine-Derived Drugs Market
The global market of the marine-derived drugs market is segmented into type, Source, and mode of delivery. In terms of source, the market is further divided into Phenol, Steroid, Ether, Peptide, and Others. Among these types, the peptide segment accounted to be the largest market share in the marine-derived drugs market. Peptides are short chains of amino acids monomers. Peptides are used as antioxidative, antimicrobial, antihypertensive, cytomodulatory and immunomodulatory in the medical sector. They have a large amount of nutraceutical and medicinal value owing to their broad spectra of bioactivities. Thus, this drives the growth of Peptide in the marine-derived drugs market.
Based on the source, the marine-derived drugs market id bifurcated into Algae, Invertebrates, and Microorganisms. In 2017, invertebrates hold more than 40% share in the marine-derived drugs to market. It is anticipated to be the dominating segmented during the forecast period. Marine invertebrates are one of the major groups of marine organisms. Marine invertebrates such as mollusks and crustaceans have been linked with various medicinal benefits to improve human health. The growing use of invertebrate organisms in the pharmaceutical is contributing to the growth of marine-derived drugs market.
On the basis of delivery of mode, the market is further categorized into, Anti-microbial, Anti-tumor, Anti-cardiovascular, Anti-viral, Anti-inflammatory, and others. The several marine microorganisms have anti-cancer properties. Thus these anti-tumor drugs are vastly used in the cancer treatment. Additionally, the growing prevalence of cancer is the key factor that drives the growth of anti-tumor drugs market.
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North America to Grow at the Highest CAGR during the Forecast Period
North America is the largest consumption place, with a consumption market share nearly 48% in 2017. Following Europe, Europe is the second largest region with a market share of 28%. The growing research and developments are the Marine pharmacognosy is the primary factor that drives the growth of marine-derived drugs market. The factors such as the growing prevalence of cancer and infection diseases and the rapidly growing adoption of marine-derived drugs are also contributing to the growth of this market in the North America region. Additionally, the Asia Pacific is growing with the highest CAGR of 13.37% over the forecast period. High spending in the healthcare sector in emerging countries such as China, India, Singapore, and Thailand is creating lucrative opportunities in the Asia-Pacific region. Moreover, the rising medical tourism in these countries has made them popular destinations for advanced medical cares, leading to the influx of an increasing number of patients. This, in turn, is expected to fuel the demand for marine-derived drugs in the forecast period.
Marine-Derived Drugs Market: Competitive Analysis
The key players in the marine-derived drugs market include Pfizer, Abbott Laboratories, GlaxoSmithKline PLC, Perrigo, Pharma Mar S.A, Eisai Co., Ltd., Aker BioMarine AS, Sea Run Holdings, Inc., Aphios Corporation, Pharma Marine USA, LLC, and others. These players have been focusing on expanding they’re geographical as well as an industrial reach by entering into acquisitions and the collaborations. For instance, in September 2017, Eisai entered into a collaboration agreement with Ono Pharmaceutical Co., Ltd. (Osaka) to jointly develop the combination therapy of Lenvima and anti-PD-1 antibody nivolumab of Ono Pharmaceutical Co., Ltd. for the treatment of hepatocellular carcinoma.
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