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The global market for marine biotechnology products and processes is
estimated at $2.4 billion in 2002, a 9.4% increase from 2001.
The non-U.S. market for marine biotechnology applications in 2002 is
estimated at more than $1.6 billion, or roughly twice the size of the
The non-U.S. market is projected to rise over the next five years at
an average annual growth rate (AAGR) of 6.4%.
This is faster than the U.S. market with an AAGR of 4.7% and will exceed
$2.2 billion in 2007.
The U.S. marine biotechnology market is projected to surpass $1 billion
Global Market Trends for Marine Biotechnology, 1999-2007
Source: BCC, Inc.
Marine biotechnology is a relatively new field that involves the discovery and
application of products and processes derived from marine organisms. Its promising
future reflects the tremendous biodiversity of the world’s oceans and seas
that cover more than three-quarters of the earth’s surface.
Most major groups of living organisms primarily or exclusively are marine,
and the demands of their environment have led these organisms to evolve unique
structures, metabolic pathways, reproductive systems and sensory and defense
mechanisms. Many of these same properties have important potential applications in the terrestrial world. For example,
research into the ways that marine organisms adhere to wet surfaces, or prevent other organisms from adhering to them, is
yielding useful new technologies. These include both adhesion inhibitors (e.g., antifouling coatings for ship hulls) and new
types of adhesives such as medical “glues” for joining tissue or promoting cell attachment in tissue engineering applications.