The Microbiome by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Microbiome, The microbiome market size has grown exponentially in recent years. It will grow from $0.57 billion in 2023 to $0.69 billion in 2024 at a compound annual growth rate (CAGR) of 20.2%. The growth in the historic period can be attributed to increased need for immunology, increasing collaborations, government initiatives, increased healthcare expenditure and growth in the number of healthcare facilities.
The microbiome market size is expected to see rapid growth in the next few years. It will grow to $1.24 billion in 2028 at a compound annual growth rate (CAGR) of 16.0%. The growth in the forecast period can be attributed to rise in healthcare expenditure, rising requirement for customized medicine, increasing funding, technological advances and rising prevalence of chronic diseases. Major trends in the forecast period include use of artificial intelligence for better analysis and to smooth the processes, strategic collaborations and agreements to broaden their product portfolios, boost revenues and establish category leadership, investing in 3d printing technology for more accurate information and increased efficiency, increasing the number of pipeline studies to develop microbiome therapeutics to treat different diseases, consider investing in the development of oncology microbiome therapeutics to maximize revenues, and considering nanotechnology for identifying low-abundant samples and to improve productivity, efficiency and accuracy of the precision technologies being used.
The increasing prevalence of inflammatory bowel disease (IBD) is a key factor driving the growth of the microbiome market going forward. Inflammatory bowel disease (IBD) refers to a group of chronic inflammatory disorders that affect the digestive tract, primarily the gastrointestinal (GI) tract the inflammatory bowel disease has placed a spotlight on the gut microbiome’s role in the disease. This has led to a surge in research, diagnostics, and therapies focused on the microbiome, driving the microbiome market’s growth. For instance, in February 2021, according to Temple Health, a US-based non-profit academic healthcare organization, over 1.6 million individuals in the United States are currently living with inflammatory bowel disease (IBD), and its prevalence is expected to increase in the coming years. Therefore, the increasing prevalence of inflammatory bowel disease (IBD) is expected to drive the growth of the microbiome market.
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The microbiome market covered in this report is segmented –
1) By Type: Bacteria, Archaea, Viruses, Other Microbiomes
2) By Product: Therapeutics, Diagnostics
3) By End-Use: Infectious Diseases, Gastrointestinal Disorders, Metabolic Disorders, Cancers, Other Diseases
4) By Technology: Genomics, Proteomics, Metabolomics
Sub segments: Infectious Diseases, Gastrointestinal Disorders, Metabolic Disorders, Cancers, Others, Genomics, Proteomics, Metabolomics
The growing technological improvement is a major trend gaining popularity in the microbiome market. Major companies in the microbiome sector are focusing on developing advanced technology solutions for microbiomes. For instance, Seed, a new microbiome company, has introduced Probiotic and Prebiotic Daily Synbiotic for both females and males. The Daily Synbiotic Seed is the first to follow a microbe-system strategy with strain-specific advantages beyond digestive health such as cardiac safety, dermatological health, immune control, reproductive health, the integrity of the gut barrier, and oxidative stress.
The microbiome market report table of contents includes:
1. Executive Summary
2. Microbiome Market Characteristics
3. Microbiome Market Trends And Strategies
4. Microbiome Market – Macro Economic Scenario
5. Global Microbiome Market Size and Growth
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26. South America Microbiome Market
27. Brazil Microbiome Market
28. Middle East Microbiome Market
29. Africa Microbiome Market
30. Microbiome Market Competitive Landscape And Company Profiles
Top Major Players:
- Seres Therapeutics
- Enterome Bioscience
- Ferring Pharmaceuticals
- Vedanta BioSciences
- Second Genome In
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