The EU Biotech industry has an estimated annual revenue of €15 billion while the Blue Biotechnology sector`s higher-end revenue generation is estimated to be around €754 million. An estimated annual compound growth rate of Blue Biotechnology of 6-8% in 5 years could lead to an annual revenue generation of up to €1 billion. This growth rate could effectively result in an increase in demand of high-end jobs as well as an increase of end-products. The employment increase in the Blue Biotechnology sector, given the ambitious overall growth rate, could amount to up to 10,000 additional work places in 5 years (ECORYS, 2014). Blue biotechnology has the potential to contribute to different biotechnology and industry sectors like human health, cosmetics, fisheries/aquaculture, energy, technology and environmental health. Different resources (e.g. whole fish, discards from wild harvest or processing, aquaculture products, macro-algae -both wild and cultivated- micro-algae, marine invertebrates and marine micro-organisms) can be exploited.
- Blue biotechnology has been subdivided into subsectors considering the application products, that are:
- Healthcare and Pharmaceuticals
- Agriculture, Livestock, Food processing
- Industrial Processes and Manufacturing
- Bio-monitoring and bio-remediation
MISTRAL assessed challenges and opportunities within Blue Growth sector and Blue biotechnology in particular along Mediterranean Sea, looking at innovation driven actions in order to deliver the highest impact and thus open opportunities for stakeholders.
This webinar is the first event of MISTRAL’s “international learning labs” aimed at transferring results and findings of the Blue Growth analysis (BLUE GROWTH BOOK) in the Blue biotechonology emerging sector.
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