LONDON--(BUSINESS WIRE)--Technavio’s global blue biotechnology market research report forecasts the market to grow at a CAGR of around 7% during the forecast period.
The increasing number of applications in the cosmetic industry will be one of the major trends in the global blue biotechnology market during 2019-2023. The demand for cosmetics is increasing globally due to the increasing acceptance of beauty norms. The rising awareness of the side effects of synthetic makeup products will promote the demand for organic cosmetics. This is expected to positively impact the global blue biotechnology market during the forecast period.
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According to Technavio analysts, one of the key drivers for the global blue biotechnology market is the increasing use of blue biotechnology for producing molecular probes:
Global blue biotechnology market: Increasing use of blue biotechnology for producing molecular probes
The application of blue biotechnology provides bioactive compounds, which can be used as molecular probes in crucial biochemical events. These molecular probes include marine neurotoxins, tetrodotoxin, saxitoxin, conotoxin, and lophotoxin. These probes are instrumental in defining the structural and functional aspects of membrane channels, which facilitate nerve transmission.
According to a senior analyst at Technavio for research on biotechnology, “During drug discovery and designing, the researchers can use marine-derived molecular probes where the knowledge of the function of these neurotoxins assists drugs to be designed and targeted to those sites of nerve transmission. Therefore, marine-derived natural products act as useful molecule probes for studying specific cellular proteins and enzymes.”
Global blue biotechnology market: Segmentation analysis
This global blue biotechnology market analysis report provides market segmentation by application (pharmaceuticals, F&B, and others) and by region (the Americas, APAC, and EMEA). This report provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Of the two major applications, the pharmaceuticals segment held the largest blue biotechnology market share in 2018, contributing to approximately 42% of the market. This application segment will dominate the global market throughout the forecast period.
The Americas held the largest share of the market in 2018, accounting for nearly 42% share. It was followed by EMEA and APAC respectively. The Americas is expected to dominate the market throughout the period 2019-2023.
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Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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