Marine derived pharmaceuticals are the drugs and other pharmacological substances which are made from extracting elements present in marine life. Although the concept of marine ethnomedicine dates back to the 18th and 19th century, actual exploratory work on marine pharmacology began in the mid and late 1960s when groups of chemists in the United States, Japan, and Europe began to explore sponges, marine algae, and other forms of marine life for their medicinal properties.
The major drivers of the growth of this market are large scale research, and improvement in the methods of marine exploration. Breakthrough discoveries in the field of pharmacological properties of marine life have turned out to be a major motivator for organic researchers to carry out further investigation in the field of marine-derived drugs. However, huge capital requirements and the need to perform large scale research and development might hold back the growth of this market in economically backward countries. Marine-derived drugs present a huge opportunity in the field of cancer treatment and marine-derived cancer drugs are in the pipeline.
The overall marine-derived drugs market can be categorized into major chemicals and major marine line groupings. The major chemical segment is further classified into phenols, steroids, ethers, strigolactones, and peptides. The marine line grouping is classified into three segments: marine microorganisms, marine algae, and marine invertebrates.
The global marine-derived pharmaceuticals market is geographically divided into North America, Asia Pacific, Europe, and Rest of the World. The market leaders in this industry are Abbott Laboratories, Genzyme, Bayer Innovation, Marine Polymer Technologies, Inc., Takeda Oncology’s Millennium, Pharma Marine USA, LLC, Xenome Limited and some others.