One of the fastest emerging high-technology sectors in Blue Economy is marine biotechnology. It has wide-ranging applications in industrial sectors including pharmaceuticals, cosmetics, nutritional supplements, molecular probes, enzymes, fine chemicals and agrichemicals.

Among various sub-sectors of marine biotechnology, the biopharmaceutical sector is expanding globally. The EU is a leader in this sector. According to a recent estimate, the pharmaceutical market of the EU is likely to reach € 8.6 billion in 2016 and has registered a compound growth of 12.5 per cent during the period 2011-16.

Marine biotechnology produces several kinds of products. For example, biopolymers are useful in wound dressing, bio-adhesives, dental bio-materials, tissue regeneration and 3D tissue culture scaffolds. Specific marine fish species are used for drug development to cure cancer, pain and inflammation, various forms of infections, malaria, schizophrenia, Alzheimer, and neovascular diseases. Sponges are used to prepare drugs for diseases like cancer, inflammation, viral infections, malaria and cardiovascular issues; coral for inflammation and wounds; marine fishes for inflammation, cancer, neovascular diseases and hypertriglyceridemia, among others.

At the upcoming Blue Economy Conclave 2019, Marine Biotech along with fisheries, technology, education and many more, will be at the forefront.

The conclave is being jointly hosted by the Maharashtra Economic Development Council (MEDC), Federation of Indian Chambers of Commerce (FICCI). Leaders from union ministries, business and industry associations and societies, and industry experts are uniting their efforts with the sole intent of promoting the blue economy of India.

The event is being held at CIDCO Exhibition center, Navi Mumbai from 7-10th January, 2019.