The Global Microbiome Market Will Grow At 75.63% CAGR To 2023

The Global Microbiome Market Will Grow At 75.63% CAGR To 2023

“Global Microbiome Market, Forecast Market Size, 2019 – 2023, $ Million”
The Business Research Company’s Global Microbiome Market Report 2020-30: Covid 19 Growth And Change; Segments Covered: 1) By Type: Fecal Microbiota Transplantation (FMT), Microbiome drugs 2) By Application: Inflammatory Bowel Disease, Diabetes, Multiple Sclerosis, Rheumatoid Arthritis, Others; Companies Covered: MicroBiome Therapeutics LLC, Seres Therapeutics, Enterome Bioscience, Second Genome, Vedanta Biosciences Inc, AbbVie Inc.

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 microbiome market is then expected to recover and reach $217.22 million in 2023 at a CAGR of 75.63%.

The increasing prevalence of inflammatory bowel disease (IBD) is a key factor driving the microbiome market growth. Inflammatory bowel disease (IBD) is a multifactorial and autoimmune infection group consisting of two major entities such as ulcerative colitis (UC) and Crohn’s disease (CD). Fecal microbiota transplantation (FMT) and probiotics were discovered as potential applications in many immune-mediated disorders, such as IBD, to restore microbial balance. These microbial therapies have shown the potential to reduce both the dysbiotic condition and the development of inflammatory mediators, thereby enabling remission, particularly in UC. In 2019, approximately 1.6 million people in the United States suffered from untreatable inflammatory bowel disease (IBD), including Crohn’s or ulcerative colitis. Therefore, the increasing prevalence of inflammatory bowel disease (IBD) is expected to drive the microbiome market growth.

The high cost of microbial therapy is a key factor hampering the growth of the microbiome market. The price of fecal transplantation, a microbial therapy, may vary considerably depending on the delivery method used by users and where users receive it. Fecal microbiota transplant processes can charge around $600-$1,000 based on the method of treatment, area, insurance coverage and other variables. Therefore, the high cost of microbial therapy is expected to hinder the growth of the microbiome market.

The growing technological improvement is a major trend gaining popularity in the global human microbiome market. Major companies in the microbiome sector are focusing on developing advanced technology solutions for microbiomes. For instance, in 2018, Seed, a new microbiome company, introduced Probiotic and Prebiotic Daily Synbiotica for both females and males. The Daily Synbiotic Seed is the first to follow a microbe-system strategy with strain-specific advantages beyond digestive health such as cardiac safety, dermatological health, immune control, reproductive health, the integrity of the gut barrier and oxidative stress.

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.

Here Is A List Of Similar Reports By The Business Research Company:

Microbiome Therapeutics Global Market Report 2020

Microbiology Diagnostic Devices And Equipment Global Market Report 2020-30: Covid 19 Implications And Growth

Rapid Microbiology Testing Kits Global Market Report 2020-30: Covid 19 Growth And Change

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