In 2022, it is expected that the Microbial Therapeutic Products Market will be valued at US$ 17.11 billion. By the end of 2030, the market is anticipated to grow at a 7.5% CAGR and be worth US$ 30.55 billion.
Future Market Insights (FMI) global microbial therapeutic products report provides an exhaustive yet unbiased analysis of future growth projections, taking into account the aforementioned developments to provide a bird’s eye view of the landscape. According to the study, demand for microbial therapeutic products is likely to grow at a steady clip, driven chiefly by the growing incidence of antimicrobial resistance.
Over the years, the burden of antimicrobial resistance (AMR) has been escalating tremendously, besides the prevalence of chronic conditions. The World Health Organization observes high resistance rates have been observed against antimicrobials used for treating urinary tract infections and certain types of diarrhea. For example, the rate of resistance to ciprofloxacin ranged anywhere between 8.4% and 93% across 33 countries. It is apprehended that this burden is compounding further due to the COVID-19 pandemic. Hence, efforts are underway to accelerate research for discovering breakthroughs in microbial therapeutics.
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Key Takeaways
- By product, anti-cancer agents to capture nearly 30% revenue by 2020-end, owing to prolific research breakthroughs
- By route of administration, injection pens to account for 2 out of 5 sales, attributed to patient hygiene concerns
- By source, bacteria based microbial therapeutic products to remain preferred
- Oncology to remain primary microbial therapeutic products application area, expanding at Y-o-Y rate exceeding 5% through 2020
- Hospitals emerge as the primary microbial therapeutic end-users, attributed to availability of adequate infrastructure
- North America to remain the market hegemon, East Asia to be fastest growing market
“Prominent manufacturers are seeking regulatory approvals to accelerate research and development operations for developing effective drug solutions to address the compounding antimicrobial resistance problems,” remarks the FMI analyst.
Competitive Landscape:
Prominent players operating in the global microbial therapeutic products market are emphasizing on acquiring regulatory approvals, forging partnerships and collaborations with competent authorities and biosimilars develop to capture substantial revenue shares across key regions.
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Some reputed players operating within the global microbial therapeutic products landscape include Dr. Reddy’s Laboratories, Pfizer Inc., Sanofi SA, Merck & Co. Inc., Novartis AG, Novo Nordisk A/S, Abbott Laboratories and Amgen Inc. to name a few.
In November 2020, Dr. Reddy’s Laboratories announced a definitive agreement with Glenmark Pharmaceuticals Ltd. to acquire its anti-allergy brands Momat Rino, Momat Rino Advance and Momat A to market them across Russia, Kazakhstan and Uzbekistan respectively.
In December 2020, Novo Nordisk announced the acquisition of Emisphere Technologies to exercise ownership of its Eligen SNAC oral delivery technology. The acquisition shall accelerate its GLP-1 receptor agonist seaglutide’s production on a larger scale.
Key Segments of Microbial Therapeutic Products Industry Survey
Microbial Therapeutic Products Market by Product:
- Growth Factors
- GCSF
- Peg GCSF
- Exenatide
- Anti-cancer Agents
- Immunosuppressants
- Enzymes
- Others
Microbial Therapeutic Products Market by Route of Administration:
- Single-use Pre-filled Injection/Injector Pens
- Multi-use Injectors
- Others
Microbial Therapeutic Products Market by Source:
- Bacteria
- Fungi
Microbial Therapeutic Products Market by Application:
- Metabolic Disorders
- Haematological Disorders
- Oncology
- Immunological Disorders
- Infectious Diseases
- Allergic Diseases
- Others
Microbial Therapeutic Products Market by End User:
- Hospitals
- Pharmaceuticals & Biopharmaceutical Companies
- Research & Academic Institutions
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization, and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel, and End Use over the next 10 years.
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