The global microbiomes market is forecasted to reach US$9,376 million in 2024, growing at a CAGR of 135.47% for the period spanning 2018-2024. The factors such as growing geriatric population, rising personal healthcare expenditures, increasing chronic diseases incidence, accelerating personal disposable income and improving consumer confidence index are expected to drive the market. However, growth of the industry would be challenged by intellectual property issues, stringent regulatory framework and manufacturing and technology considerations. Few notable trends include progressing product pipeline, increasing product licensing contracts and inclining microbiome research and development activities. In 2020, the outbreak of COVID-19 pandemic has created a favorable impact on the market as the microbiomes-based products sales increased.
The global microbiomes market can be split on the basis of applications into drugs and diagnostics. Currently, drugs occupies the higher share owing to growth in acceptance of probiotics among population and rising prevalence of autoimmune diseases, cancer and gastrointestinal diseases.
The fastest growing regional market is North America owing to rising incidence of lifestyle diseases, increasing focus on human microbiome therapies and growing technological advancements in human microbiome along with next-generation sequencing.
Scope of the report:
• The report provides a comprehensive analysis of the global microbiomes market, segmented into drugs and diagnostics.
• The major regional markets (North America, Europe and Asia-Pacific) have been analysed.
• The market dynamics such as growth drivers, market trends and challenges are analysed in-depth.
• The competitive landscape of the market, along with the company profiles of leading players (Seres Therapeutics, Inc., Synthetic Biologics, Inc., Evelo Biosciences, Inc., 4D Pharma Plc, Infant Bacterial Therapeutics AB and Takeda Pharmaceutical Company Limited) are also presented in detail.
Key Target Audience:
• Microbiome-based Manufacturers
• End Users
• Consulting Firms
• Investment Banks
• Government Bodies & Regulating Authorities