Microbiome Therapeutics Market Growth and Competitive Landscape Analysis and Forecast till 2024
The global Microbiome Therapeutics Market is expected to value at USD 433.5 million by 2025. The microbiome therapeutics industry is subject to witness a substantial growth due to the rise in the initiatives taken by the regional government through various programs for early diagnosis of critical diseases. Various initiatives taken by regional governments such as Human Microbiome Project by NHS in Europe and the Microbiome Initiative by the U.S. government are creating awareness among general population regarding advantages of microbiome therapeutics are expected to stimulate market growth over the coming years.
Globally, the microbiome therapeutics market is predicted to grow at higher CAGR in the forecast period, providing numerous opportunities for market players to invest for research and development in the market. Increasing in the occurrence of gastrointestinal disorders, diabetes, arthritis, and other neurological disorders across the globe are major cause of concern; thus intensifying need for treatment and diagnosis methods for its successful treatment. These factors are expected to drive market demand for microbiome therapeutics over the forecast period.
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Growing incidence related to the diagnostic of the arthritis, and other neurological disorders among adults is expected to further boost growth of microbiome therapeutics industry over the next seven years. Growing prevalence of diseases owing to dysbios is of microbiota in the gut coupled with biological drug development studies are key contributing factors for industry growth in the recent years.
Lack of gut microbiome, which is vital for good health of a person, leads to series of adverse effects on human body. Alteration in a number of microorganisms that are found in human body such as firmicute, bacteroidetes, and actinobacteria can lead to the development of gastrointestinal disorders and various chronic diseases. In addition, regular consummation of antibiotics, changing lifestyle, varying food habits and rising geriatric population are some key factors are driving demand for microbiome therapeutics over the forecast period.
The microbiome therapeutics market is broadly categorized into four major segments based on the application type such as C. difficile, crohn’s disease, inflammatory bowel disease and diabetes. The C. difficile is considered as one of the fastest growing segment in the with substantial revenue generation in the last few years. Growing popularity of microbiome therapeutics in the C. difficile segment is attributed to the higher approval rate and increasing market penetration. The segment has also witnessed substantial growth owing to the increasing demand for drug pipeline and use of microbiome therapeutics for the treatment of lactose intolerance.
The microbiome therapeutics industry is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rise in the implementation of latest technologies in medicine & pharmaceutical sector, increase in the number of research & development activities in the region and existence of well-established healthcare infrastructure.
Asia-Pacific region is predicted to hold major market share in the microbiome therapeutics market with massive growth in forecast period. Countries such as Japan, South Korea, China and Singapore are leading the Asia-Pacific market with favorable government policies, increasing healthcare expenditure by local governments, rising awareness among general population, and significant investment by leading industry players considering potential growth opportunities in the region.
The key players in the microbiome therapeutics industry are MicroBiome Therapeutics LLC, Seres Therapeutics, Inc., Enterome Bioscience, Inc., MaaT Pharma S.A., Rebiotix, Inc., Ritter Pharmaceuticals, Inc., Second Genome, Inc., and OpenBiome Co.
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Type Outlook (Market Revenue in USD Million, 2014 – 2025)
• Microbiome Drugs
Application Outlook (Market Revenue in USD Million, 2014 – 2025)
• C. difficile
• Crohn’s disease
• Inflammatory Bowel Disease
Regional Outlook (Market Revenue in USD Million, 2014 – 2025)
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
• South Africa
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