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Table 3.2 Applicability of indicators to estimate industry size Indicators Number of marine biotechnology firms – field/sector Patents – applications and granted, share of WO patents (protected in 184 countries) Trends in clinical trials (or other trials) of marine biotechnology products (closer to the market than patents) Applicability to reflect socioeconomic data + Data This data is not available through official statistics such as Eurostat or national statistical offices. However, estimations can be made based on the database compiled for this study. -/+ Patents can give some indication on the value of upcoming products. However in the case of Blue Biotechnology a number of external factors limit the accuracy of establishing market value figures (prolonged clinical trials, investor confidence etc.) - Trends in clinical trials are more of an indirect indication on future development potential especially with regards to product commercialisation. However shortening trial periods might not necessarily lead to a sectoral boom. External and exogenous factors such as access to raw materials, competition etc. can still slow down the pace of development. Publications and citations – share of worldwide Products – in development and on the market Funding and manpower devoted to marine biotechnology R&D Value of Blue Biotechnology market Employment in marine biotechnology sector – marine biotech employment as a percentage of total employment Education in marine biotechnology i.e. number of university degree courses Total business marine biotech R&D expenditures - as a share of total business sector expenditures in R&D– intensity of business investment in marine biotechnology - investment in (marine) biotechnology is - Publications and citation are indicative of baseline research and development trends but will not provide a direct link to sector size and market value. + The number and value of products can serve as a good indication on the value of the sector and future growth potential. +/Research and development potential is no solid indication of actual commercial product value. A number of factors might hinder commercialisation postponing or even discontinuing research. + The gross value added of the sector s one of the key socio-economic indicators, signalling market and investment value. + Employment in the sector is an important socioeconomic indicator signalling sector size. - Number of students or courses in marine biotechnology are an indirect indication of future development potential and available skilled labour. -/+ Business expenditures into RDI can be a good indication of private investment potential complimenting venture capital or more short-tem/highrisk investment sources. However alone this indicator will not provide solid figures regarding socio-economic outlook. Study in support of Impact Assessment work on Blue Biotechnology 17

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