The microbiome market consists of sales of microbiomes drugs and related services. Microbiome therapy aims at restoring balanced gut microbiota and is expected to decrease the risk of infection recurrence and greatly increase the quality of life of patients.
The global microbiome market is expected to decline from $41.21 million in 2019 to $40.09 million in 2020 at a compound annual growth rate (CAGR) of -2.70%. The decline is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing, remote working, and the closure of industries and other commercial activities resulting in operational challenges. The entire supply chain has been disrupted, impacting the market negatively. The market is then expected to recover and reach $217.22 million in 2023 at a CAGR of 75.63%.
