Westford, USA, April 25, 2023 (GLOBE NEWSWIRE) -- SkyQuest's latest report suggests that the global microbiome market is poised for tremendous growth in North America and Asia Pacific, with a predicted value of USD 1065.28 million by 2030 and a CAGR of 35.32% during the forecast period (2023-2030). The demand for probiotics and microbial products in agriculture and the increasing need for microbial testing and service advancements in microbial genomics are some of the primary drivers of this growth. Additionally, there has been a rise in investments in microbial research and development.
SkyQuest's report further indicates that 85% of US adults were familiar with probiotics in 2020, up from 70% in 2019, highlighting the growing awareness of their benefits. The study also reveals that food safety is a primary concern among consumers, with 77% of respondents reporting worries about the safety of the food they eat, according to the International Association for Food Protection (IAFP).
Browse in-depth TOC on "Microbiome Market"
- Pages - 224
- Tables - 92
- Figures - 70
Get a sample copy of this report:
https://www.skyquestt.com/sample-request/microbiome-market
The microbial market is increasingly important today due to the growing demand for microbial-based products and services in various industries, including healthcare, agriculture, and food. Advancements in microbial genomics and increasing concerns over food safety and quality are driving the growth of this market.
Prominent Players in the Microbiome Market
- Enterome SA
- Viome, Inc.
- Seres Therapeutics, Inc.
- Second Genome, Inc.
- Rebiotix, Inc.
- Microbiome Therapeutics, LLC
- Assembly Biosciences, Inc.
- Vedanta Biosciences, Inc.
- Ubiome, Inc.
- Synlogic, Inc.
- Ritter Pharmaceuticals, Inc.
- Resphera Biosciences, Inc.
- Metabiomics Corporation
- Metabiome
- Locus Biosciences, Inc.
- Evolve Biosystems, Inc.
- Diversigen, Inc.
- DayTwo Ltd.
- CoreBiome, Inc.
- Azitra, Inc.
Browse summary of the report and Complete Table of Contents (ToC):
https://www.skyquestt.com/report/microbiome-market
Pharmaceutical Application Segment to Drive Higher Sales as microbes are widely used in the development of new drugs and therapies
The rapid development of the microbiome market in 2021 was primarily driven by the pharmaceutical application segment according to a recent analysis. This trend is expected to continue from 2022 to 2030 due to the increasing demand for biologics and biosimilars, the rising prevalence of chronic diseases, and the growing need for personalized medicine. According to a study published by the Journal of Microbiology and Biotechnology, over 60% of new drugs approved by the FDA between 1981 and 2010 were derived from natural sources, including microbes. The study also found that microbial-derived drugs have higher success rate in clinical trials compared to drugs derived from other sources.
Furthermore, according to research analysis, North America is predicted to become a significant player in the Microbiome market from 2022 to 2030. SkyQuest projects a CAGR of 7.3% for the region during the forecast period, driven by the high adoption of microbial-based products in various industries, and the presence of a well-established healthcare industry, followed by the growing demand for microbial testing services. The US government has also undertaken several initiatives to support the growth of the microbial market, such as the National Microbiome Initiative, which aims to accelerate microbiome research and improve understanding of the role of microbes in various industries, including healthcare, agriculture, and energy.
Human Microbiome Type Segment to Exhibit Strong Growth Due to increasing Prevalence of Chronic Diseases
The demand for human microbiome type has made it the dominant segment in the microbiome market in 2021 and is expected to maintain its lead from 2022 to 2030. This trend is being driven by the increasing prevalence of chronic diseases, rising awareness of the role of microbiota in maintaining health, and the growing focus on precision medicine.
Moreover, the Asia Pacific region has emerged as a significant force in the Microbiome market and is expected to continue its dominance by 2030. SkyQuest has projected substantial growth in the market for this region, with a forecasted CAGR of 8.97% during the forecast period. The region's growth can be attributed to its increasing prevalence of chronic diseases, the growing demand for personalized medicine, and the presence of a large number of pharmaceutical and biotech companies in the region. Additionally, the governments of several countries in the Asia-Pacific region have launched initiatives to support the growth of the microbial market. For example, in India, the government has launched the Biotechnology Industry Partnership Programme which aims to promote the development of the biotechnology industry including the microbial market.
A comprehensive analysis of the major players in the microbiome market has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavors to develop innovative solutions to cater to the growing demand.
Speak to Analyst for your custom requirements:
https://www.skyquestt.com/speak-with-analyst/microbiome-market
Key Developments in Microbiome Market
- Kaleido Biosciences, a Nasdaq-listed clinical-stage healthcare company that develops novel Microbiome Metabolic Therapies (MMT™), has announced a research collaboration with Dr. Robert Jenq, Professor of Genomic Medicine at The University of Texas MD Anderson Cancer Center, to explore the potential of MMT™ in preventing febrile neutropenia, a serious complication associated with hematopoietic stem cell transplantations (HSCT). This collaboration aims to utilize Kaleido's innovative approach to targeting the microbiome with small molecules to improve human health.
- OraSure Technologies, a NASDAQ-listed company specializing in the point-of-care and home diagnostic testing and sample collection technologies, has made its OMNIgene®•GUT DNA and RNA product (OMR-205) available for gut microbiome researchers. The product offers the convenience of self-collection, stabilization, storage, and transportation of both microbial DNA and RNA at ambient temperature, enabling efficient gut microbiome profiling. The product is developed by OraSure's subsidiary DNA Genotek.
Key Questions Answered in Microbiome Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- List the top companies in the market and explain how they have achieved their positions of influence?
- In what ways do regional trends and patterns differ within the global market, and how do these differences shape the market's future growth?
Related Reports in SkyQuest’s Library:
Global Life Sciences and Laboratory Equipment Market
Global Insilico Drug Discovery Market
Global Animal Diagnostics Market
Global Non-Invasive Prenatal Testing (NIPT) Market
Global NGS Library Preparation Market
About Us:
SkyQuest Technology is leading growth consulting firm providing market intelligence, commercialization and technology services. It has 450+ happy clients globally.
Address:
1 Apache Way, Westford, Massachusetts 01886
Phone:
USA (+1) 617-230-0741
Email: sales@skyquestt.com
