The global microbial therapeutic products market is poised for substantial growth, with projections forecasting an increase from USD 17.11 billion in 2022 to an impressive USD 30.55 billion by 2030. This expansion is anticipated to occur at a strong compound annual growth rate (CAGR) of 7.5%, according to the latest report by Future Market Insights (FMI).
The FMI report delivers an in-depth analysis of the market’s trajectory, shedding light on key trends and drivers fueling this growth. A primary factor behind the market’s expansion is the rising concern over antimicrobial resistance (AMR), which is driving the demand for advanced microbial therapeutic solutions.
The World Health Organization has highlighted alarmingly high resistance rates to antimicrobials used for treating conditions such as urinary tract infections and certain types of diarrhea. This challenge has been exacerbated by the COVID-19 pandemic, emphasizing the critical need for innovative microbial therapeutics to combat resistant infections effectively.
Key Insights from the Report:
- Product Trends: Anti-cancer agents are projected to capture nearly 30% of the market revenue by the end of 2020, fueled by significant research advancements.
- Administration Routes: Injection pens are expected to represent 40% of sales due to heightened patient hygiene concerns.
- Source Preferences: Bacteria-based microbial therapeutics are anticipated to remain the dominant source.
- Application Focus: Oncology will continue to be the primary application area for microbial therapeutic products, expanding at a year-over-year rate exceeding 5%.
- End Users: Hospitals will remain the main end-users of microbial therapeutics, driven by their advanced infrastructure capabilities.
- Regional Dynamics: North America is set to maintain its market leadership, while East Asia is expected to emerge as the fastest-growing region.
“The ongoing efforts by prominent manufacturers to secure regulatory approvals and enhance research and development activities are crucial in addressing the growing challenges posed by antimicrobial resistance,” says an FMI analyst.
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Competitive Landscape:
Key players in the microbial therapeutic products market are focusing on regulatory approvals, strategic partnerships, and collaborations to capture substantial revenue shares. Noteworthy companies in this sector include Dr. Reddy’s Laboratories, Pfizer Inc., Sanofi SA, Merck & Co. Inc., Novartis AG, Novo Nordisk A/S, Abbott Laboratories, and Amgen Inc.
Recent strategic moves include:
- Dr. Reddy’s Laboratories: In November 2020, the company entered into an agreement with Glenmark Pharmaceuticals Ltd. to acquire its anti-allergy brands, expanding their market presence in Russia, Kazakhstan, and Uzbekistan.
- Novo Nordisk: In December 2020, Novo Nordisk acquired Emisphere Technologies, enhancing its capability to scale up the production of its GLP-1 receptor agonist seaglutide.
Market Segmentation:
- By Product: Growth Factors, GCSF, Peg GCSF, Exenatide, Anti-cancer Agents, Immunosuppressants, Enzymes, and Others.
- By Route of Administration: Single-use Pre-filled Injection/Injector Pens, Multi-use Injectors, and Others.
- By Source: Bacteria and Fungi.
- By Application: Metabolic Disorders, Haematological Disorders, Oncology, Immunological Disorders, Infectious Diseases, Allergic Diseases, and Others.
- By End User: Hospitals, Pharmaceuticals & Biopharmaceutical Companies, and Research & Academic Institutions.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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