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Marine Industries Global Market Analysis - Marine Institute

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120 MARINE INDUSTRIES GLOBAL MARKET ANALYSIS<br />

• Delivering to the industrial sector development leads that are needed and for which<br />

they are willing to pay.<br />

• Educating and training the people to make this possible.<br />

• Promoting, marketing and positioning sector in a distinctive way.<br />

23.4 THE LONG-TERM – 2010 ONWARDS<br />

In 2002, Ernst & Young reported that there were 4,324 biotechnology companies<br />

worldwide with 188,703 employees, R&D expenditure of $16.4 billion and revenues<br />

of $35.8 billion. $25 billion of this was generated by US companies. 79 ‘Invest in Japan’<br />

stated that the Japanese biotechnology market was worth $10.2bn in 2002. 80 These<br />

numbers seem disproportionate, but do serve to illustrate the size of the industry.<br />

Considering that the oceans contain 80% of living organisms, it is reasonable to<br />

suggest that the long-term potential for marine biology must greatly exceed<br />

conventional land-based biotechnology revenue values.<br />

79<br />

‘Refocus:The European Perspective <strong>Global</strong> Biotechnology Report 2004’. Ernst & Young.<br />

80<br />

http://www.jetro.go.jp/usa/newyork/investinjapan/html/bio_overview.htm

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