LONDON--(BUSINESS WIRE)--Technavio’s latest market research report on the global marine pharmaceuticals market provides an analysis of the most important trends expected to impact the market outlook from 2018-2022. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
According to Technavio analysts, the global marine pharmaceuticals market will grow at a CAGR of over 7% during the forecast period. The licensing agreements are a major factor driving the market’s growth.
The vendors in the global marine pharmaceuticals market have been entering into licensing agreements continuously. The licensing agreements in the marine pharmaceuticals market allow the company to expand the reach of the product to multiple nations with relatively less involvement and risk. These licensing agreements will assist in increasing the availability of marine pharmaceuticals across the regions and will help the global marine pharmaceuticals market to grow during the forecast period.
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In this report, Technavio highlights the research for anti-inflammatory compounds from marine sources as one of the key emerging trends driving the global marine pharmaceuticals market:
Research for anti-inflammatory compounds from marine sources
Inflammation is a well-regulated process in the human body, and any disturbance in the process of the inflammatory response can lead to chronic inflammation. It could also prove fatal in some cases. Inflammation can lead to many disorders such as rheumatoid arthritis, multiple sclerosis, and inflammatory bowel diseases. Marine invertebrates are sources of prime importance for new pharmaceutical products. Diterpenoids, the secondary metabolites present in them, exhibit significant anti-inflammatory properties. For instance, briarane diterpenoids compounds isolated from soft corals have shown anti-inflammatory activities.
The discovery of new agents with anti-inflammatory activity is a challenging task due to the complex inflammatory process and its role in defense of the host. But, the development that took place helped to understand the mechanisms involved in inflammation.
“The better understanding of anti-inflammatory mechanisms has broadened the possibility of new target identification for the drugs. It has opened the gates for the search of novel compounds with potential therapeutic activity on both acute as well as chronic inflammatory disorders. Many programs for drug discovery and development are focused on identification of bioactive compounds from marine sources. The compounds having strong anti-inflammatory activity are anticipated to be discovered during the forecast period,” says a senior analyst at Technavio for research on infectious and rare diseases.
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Global marine pharmaceuticals market segmentation
This market research report segments the global marine pharmaceuticals market into the following applications (oncology, cardiovascular, and anti-infectives) and key regions (the Americas, APAC, and EMEA).
The oncology segment held the largest market share in 2017, accounting for more than 48% of the market. This segment is anticipated to witness substantial growth during the forecast period.
In 2017, the Americas contributed the maximum share of over 41% to the global marine pharmaceuticals market. The global marine pharmaceuticals market will observe steady growth because of the robust growth in APAC during the forecast period. But, the market share of the Americas and EMEA will decline to some extent during the forecast period. APAC will be a leader in market growth during the forecast period owing to the increasing awareness and improved access to healthcare.
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