The broad application profile in the food industry and the increasing interest in fluorescent products showcase the diverse and promising potential of phycobilip — roteins in number of applications. Table 10.5 exhibits several other novel proper­ties of phycobiliproteins that have the potential for commercialization, but have only been accounted for in patents. Other biomedical properties included are anti­inflammatory, antioxidant, liver protection, anti-tumor, lipase activity inhibitor, and serum reducing agent; all of which have been reported in patents and applied research but have not yet been commercially explored (Sekar and Chandramohan, 2008).

Despite extensive research spanning 150 years, and the thousands of microalgal species that are known to exist, only a few hundred have been screened for chemi­cal compositions and only a handful have been exploited on an industrial scale (Spolaore et al., 2006; Sekar and Chandramohan, 2008). To make phycobiliproteins more market competitive and economically feasible, basic screening is imperative in order to source the organisms that are responsible for significant production of phycobiliproteins—but may not necessarily be the fastest-growing strains (Sekar and Chandramohan, 2008). Genetic modification of microalgae holds great promise, along with pursuing other methods of cultivation (heterotrophic and mixotrophic). With the ever-increasing range of potential products and applications pending commercialization, it is imperative to pursue these avenues of research to advance microalgal biotechnology.