Microbial Products Market Is Picking Up: US$250.3 Billion in Global Revenue Projected for 2023
Microbial
Products Market Information: By Types (Enzymes, Polysaccharides, Nutrients
(Amino Acids, Nucleotides, Vitamins, And Organic Acids), Chemotherapeutic
Agents, Antibiotics, Vaccines, Others) By Source (Bacterial, Viral, Fungi,
Others) By Applications (Pharmaceutical, Diagnostic, Biotechnology, Others) By
End Users (pharmaceutical and biotechnological industries, hospitals and
clinics, diagnostic labs, research and academics, others) - Global Forecast
till 2027
Microbial Products
Market Highlights
The Microbial
Products Market could be valued at USD 250.3 billion by the end
of 2023, suggests Market Research Future (MRFR). It also stands to achieve a
CAGR of 8.7 % during the forecast period (2017-2023).
Growth Drivers and Key
Restraints
Microbial products come from
microbes like yeast, bacteria, or fungus. Medicinal microbiology includes
antibiotics, production of enzymes, nutrients like vitamins, organic acids,
amino acids, vaccines, chemotherapeutic agents among others. Microbial products
are also used in the manufacturing of solvents and reagents like lactic acid,
ethanol, butanol etc.
The microbial products market
is set to reach new height on the back of rising desire to produce and invest
in the energy, healthcare, environmental, manufacturing, and
agricultural industries. On top of that, the surging prevalence of diseases,
boost in demand for healthcare nutrients favor the market as well. Some additional
growth factors could be the hike in the rates of cancers, increasing demand for
diagnostics microbial products and the growth of lifestyles industry that
encourage the use of these products.
The market also benefits from
the massive demand for high quality drugs along with the rising application of
DNA technology that raise the demand for high quality ultra-pure solvents. The
latter factor helps with the market growth of microbial products. The
accelerated demand for high sensitivity and selectivity diagnostic tests could
be another reason for the market’s excellent performance.
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Market Segmentation
The worldwide market for
microbial products has been segmented with respect to types, source,
applications and end users.
With context to types, the
market caters to polysaccharides, enzymes, chemotherapeutic agents, nutrients
(amino acids, nucleotides, vitamins, and organic acids, others), vaccines,
antibiotics, and others.
Source-wise, the market
includes bacterial, viral, fungi and others.
The various applications of
microbial products include pharmaceutical, diagnostic, biotechnology, and
others.
The end users covered by the
report are pharmaceutical and biotechnological industries, hospitals and
clinics, diagnostic labs, research and academics, and others.
Regional Aspect
The main markets for microbial
products are Europe, Middle East, and Africa, North America, and Asia Pacific.
In North America, the United
States (US)generates maximum revenue as there is favorable insurance
penetration along with excellent reimbursement scenario. The high expenditure
on healthcare also works wonders for the market. The increase in consumption of
microbial products is the result of high per capita income and the quick uptake
of new technology in the region is expected to boost the market position in the
following years.
Europe holds a considerable
portion of the worldwide market, with Germany, the United Kingdom (UK), France
and Italy being the leading contributors. Established healthcare and
agriculture industries in the region and the vast consumption of microbial
products inspire market growth.
Asia Pacific holds immense
potential to have lucrative growth in the future, with India and
China spearheading the said growth. The region is turning out to be a strong
market for microbial products with most of the countries heavily dependent on
the agriculture and microbial industries.
Middle East & Africa market
is primarily controlled by Gulf nations, especially Saudi Arabia and the UAE.
Africa could witness a moderate growth owing to poor economic and political
conditions along with low healthcare penetration.
Significant Players
Kyowa Hakko Bio Co.,
GlaxoSmithKline plc, Nova Digm Therapeutics, Sanofi S.A, Novartis AG, Merck
& Co. Inc., Valent Bio Sciences Corp., Amgen Inc., Pfizer Inc., Ltd,
bio Mérieux SA, Ajinomoto Co. Inc., are some of the significant companies that are
part of the worldwide microbial products market.
Recent Updates
July 2019
DMC has managed to raise Series
A equity financing backed by the support of Sofinnova Partners. The former will
be using its technology to bring down biological complexity and also accelerate
the speed of development. This will lead to low cost and fermentation-based
manufacturing platform with the capability of generating a wide range of
microbial products.
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