The ocean is home to a vast diversity of life forms constituting a rich source of marine genetic resources, that is, genetic material of marine origin containing functional units of heredity of actual or potential value, characterized by high biological and chemical diversity (Appeltans and others, 2012; United Nations, 2017). Over 34,000 marine natural products have been described, with recent discovery rates reaching more than 1,000 compounds each year (Lindequist, 2016; Carroll and others, 2019). A total of 188 new marine natural products from deep-sea organisms (Bryozoa, Chordata, Cnidaria, Echinodermata, Mollusca, Porifera and microbes) have been described since 2008 (Skropeta and Wei, 2014). Approximately 75 per cent of those novel products have remarkable bioactivity, with 50 per cent exhibiting moderate to high cytotoxicity towards a range of human cancer cell lines. Although the bioactivity of many marine natural products suggests high potential for drug discovery, only 13 marine-derived drugs have gained market approval to date (Liang and others, 2019; Mayer and others, 2010).5 However, at the time of writing, 28 candidates were in clinical trials (Alves and others, 2018). Marine antifoulant research is currently focused on identifying viable non-toxic substances, and a recent review has estimated that more than 198 antifouling compounds have been obtained from marine invertebrates, specifically sponges, gorgonians and soft corals (Qi and Ma, 2017), in addition to the products derived from macroalgae and microalgae highlighted in the first World Ocean Assessment (United Nations, 2017). Innovative research has also identified ingredients from discarded fish that are suitable for use in high-end cosmetics and a number of other products (Young, 2014). As of 2018, a total of 76 publicly available cosmeceutical ingredients from marine natural products had been marketed, reflecting a new growth sector (Calado and others, 2018). At the same time, consumer demand for nutraceuticals has increased rapidly, as foreseen in the first Assessment. The global nutraceutical market is expected to reach $580 billion by 2025, more than triple the $180 billion projected for 2017 in the first Assessment, and market growth has been linked to increased innovation and consumer awareness (Grand 6 See Midwestern University, “Clinical Pipeline, Marine Pharmacology”. View Research, 2017). Marine nutraceutical products such as fish oil and collagen represent a large portion of the global market, and demand for those products is expected to grow in the Asia-Pacific region, in particular in China and India (Suleria and others, 2015). While marine genetic resources are of growing importance to the global blue economy, most commercial activity is concentrated in a comparatively small number of countries, suggesting that there is potential for technology transfer and capacity-building (Thompson and others, 2017; Blasiak and others, 2018). Several international processes addressing genetic resources, including marine genetic resources, are currently under way.

United Nations

SI