Global Microbiome Market Size 2024, Forecast To 2033
11 Mar, 2024
The microbiome market has exhibited exponential growth, climbing from $0.57 billion in 2023 to $0.69 billion in 2024, reflecting a compound annual growth rate (CAGR) of 20.2%. This growth in the historic period is linked to an increased need for immunology, growing collaborations, government initiatives, increased healthcare expenditure, and the expansion of the number of healthcare facilities. Moving forward to 2028, the market is expected to sustain rapid growth, projected to reach $1.24 billion at a decreased CAGR of 16.0%. Contributing factors to this growth include a rise in healthcare expenditure, an increasing requirement for customized medicine, increased funding, technological advances, and the rising prevalence of chronic diseases. Key trends in the forecast period involve the use of artificial intelligence for better analysis and process smoothing, strategic collaborations and agreements to broaden product portfolios, boost revenues, and establish category leadership, investment in 3D printing technology for more accurate information and increased efficiency, the expansion of pipeline studies for microbiome therapeutics, and consideration of nanotechnology for identifying low-abundant samples and improving the productivity, efficiency, and accuracy of precision technologies being used.
Global Microbiome Market Key Driver
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. In 2023, the market is influenced by the rising awareness and research around IBD, and by 2024, the demand for microbiome-related solutions continues to grow. Looking forward to 2028, the market size is anticipated to demonstrate sustained expansion as the understanding of the gut microbiome's importance in health deepens.
Get A Free Sample Of The Global Microbiome Market ReportGlobal Microbiome Market Segments
The microbiome market covered in this report is segmented –
1) By Type: Bacteria, Archaea, Viruses, Other Microbiomes
2) By Product: Therapeutics, Diagnostics
4) By Technology: Genomics, Proteomics, Metabolomics
3) By End-Use: Infectious Diseases, Gastrointestinal Disorders, Metabolic Disorders, Cancers, Other Diseases
Sub segments: Infectious Diseases, Gastrointestinal Disorders, Metabolic Disorders, Cancers, Others, Genomics, Proteomics, Metabolomics
By Geography:The regions covered in the microbiome market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain
North America was the largest region in the microbiome market in 2023. The regions covered in the microbiome market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major Microbiome Industry Players
Seres Therapeutics, Enterome Bioscience, Ferring Pharmaceuticals, Vedanta BioSciences, Second Genome Inc., Microbiotica, Rebiotix, Inc, Locus Biosciences, Osel Inc., Xbiome Co., Ltd, Microba Life Sciences, Biome Australia, Shoreline Biome, Leucine Rich Bio Pvt Ltd, BugSpeaks, KINS Co., Ltd, Yeda Research and Development Co. Ltd, China National Pharmaceutical Group Corporation, Atlas Biomed, BiomX Ltd, ImmuneBiotech Medical Sweden AB, MetaboGen AB, ADM Biopolis, Viome, PharmaBiome, NCCR Microbiomes, MaaT Pharma, Eligo Bioscience, T3 Pharmaceuticals, MicroBiome Therapeutics LLC, Second Genome, OpenBiome, Microbiome Insights Inc., lallemand Health Solutions, Mybiotics Pharma, DayTwo, Next Biosciences, ViThera Pharmaceuticals Inc., Inqaba Biotechnical Industries (Pty), SNIPR Biome, MyBiome
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Microbiome Market Overview
Microbiome refers to a group of microbes that live in a certain habitat and include fungi, bacteria, and viruses. It is all of the bacteria, fungi, protozoa, and viruses' genetic material that dwells on and within the human body. The microbiome's bacteria also aid in digestion, immune system control, defence against disease-causing bacteria, and the production of vitamins like Vitamin K, which is required for blood clotting, and the B vitamins B12, thiamine, and riboflavin.
Microbiome Global Market Report 2023 provides data on the global microbiome market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The microbiome market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.