Abstract：Marine pharmaceutical research and development has continuously made breakthroughs for the past few years, leading the rapid development of the industry. In this paper, the status of marine pharmaceutical industry in China was analyzed and the gray correlation degree analysis was applied to study the key factors affecting the output of the marine pharmaceutical industry in China quantitatively. Results showed that the number of invention patents application, total marine production value, per capita health care expenditure of urban residents and total income of research funding had the largest impact. Grey dynamic model GM(1,1) was used to predict the trend of marine pharmaceutical industry in China and revealed that the industry scale would expand steadily. Based on the study, some suggestions for promoting the industrial development were put forward.