The global microbial therapeutic products market is on track for significant expansion, with projections indicating a rise from USD 17.11 billion in 2022 to an impressive USD 30.55 billion by 2030. This growth, characterized by a robust compound annual growth rate (CAGR) of 7.5%, is detailed in the latest report by Future Market Insights (FMI).
The FMI report provides an extensive analysis of the market’s trajectory, highlighting key trends and drivers contributing to this upward momentum. A major catalyst for market growth is the escalating concern over antimicrobial resistance (AMR), prompting a surge in demand for innovative microbial therapeutic solutions.
According to the World Health Organization, resistance rates to antimicrobials used for treating conditions such as urinary tract infections and specific types of diarrhea have reached alarming levels. This issue has been further exacerbated by the COVID-19 pandemic, underscoring the urgent need for effective microbial therapeutics to combat resistant infections.
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, driven by significant advancements in research.
- Administration Routes: Injection pens are expected to account for 40% of sales as patient hygiene concerns intensify.
- Source Preferences: Bacteria-based microbial therapeutics are anticipated to remain the dominant source in the market.
- Application Focus: Oncology is set to continue as the primary application area for microbial therapeutic products, expanding at a year-over-year rate exceeding 5%.
- End Users: Hospitals are projected to remain the primary end-users of microbial therapeutics, benefiting from advanced infrastructure capabilities.
- Regional Dynamics: North America is expected to retain its market leadership, while East Asia is poised to become 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.
As the demand for microbial therapeutic products rises, stakeholders in the healthcare industry must focus on innovation and collaboration to develop effective solutions for combating resistant infections. The FMI report serves as a comprehensive guide for businesses seeking to navigate this rapidly evolving market landscape.
Surge in Market Needs: Discover Comprehensive Analysis and Insights in Our Detailed Report!
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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