Rising prevalence of chronic disorders will boost the microbial therapeutic products market and lead to a CAGR of 7.5%
Noida, Uttar Pradesh, India, February 24 2021 (Wiredrelease) Report Ocean Pvt Ltd –:Global Microbial therapeutic products Market is estimated to see healthy growth, pegged at a CAGR of ~7.5% during the forecast period 2020-2027. The rising prevalence of lifestyle-induced chronic disorders and antimicrobial resistance is mainly driving the market’s growth. Confrontation to penicillin, for instance, ranges from 0 to 51% and 8 to 65% for anti-Escherichia coli (anti-E coli) drugs. Companies are scrambling to develop novel approaches to treat several immunological disorders and other body ailments, thereby the uplifting scope of the market growth throughout the forecast period.
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Rising Prevalence of Chronic Disorders worldwide
As per the World Health Organization (WHO) report, the rising chronic disease prevalence is slated to augment 57% by the 2020-end. As the global geriatric population increases, the prevalence of diabetes, cardiovascular problems, cancers, and asthma is bound to rise. Against this backdrop, pharmaceutical businesses are accelerating their research capabilities to develop effective treatments to enhance their revenue sources.
Over the years, acknowledgment of microbial role in human health and disease has been intensifying. Various published studies have laid bare the potentials of developing live biotherapeutics consisting of engineered microbes to address specific disease mechanisms by incorporating non-pathogenic bacteria.
Emerging markets are probable to occur as potential opportunity hubs, given the global population’s high incidence combined with the emergence of various lifestyle diseases. India, for instance, represents substantial growth opportunities, with over 60% of the people who have asthma, CVDs, high cholesterol, or diabetes. Such factors are estimated to grow the demand for microbial therapeutic products globally during the forecast period.
Medicinal microbiology involves the production of nutrients, antibiotics, and enzymes. Thus, various diseases’ increased pervasiveness has propelled the demand for microbial technology, thereby stimulating the global microbial therapeutic industry outlook. According to the World Health Organization (WHO), the prevalence of chronic conditions is likely to increase by 57% by the end of 2020.
The growing elderly population and rising prevalence of various diseases have compelled pharmaceutical companies to emphasize accelerating their R&D efforts to develop innovative and advanced treatment options using microbial technologies, favoring the overall market outlook.
However, an increasing number of low-quality producers could potentially act as a bottleneck to the expansion of the global microbial therapeutic market. Regardless, surging demand for high-quality reagents for clinical developments is emerging as a lucrative opportunity for market participants.
Segmentation Overview of the Global Microbial Therapeutic Products Market
The microbial therapeutic products market has been segmented into Source, Application, and End User. These major market segments are further categorized into various sub-segments to study the market in detail.
By Source Outlook (Bacteria, Fungi)
By Application Outlook (Metabolic Disorders, Haematological Disorders, Oncology, Immunological Disorders, Infectious Diseases, Allergic Diseases, Others)
By End User Outlook (Hospitals, Pharmaceuticals & Biopharmaceutical Companies, Research & Academic Institutions)
Key Players Insights
Mylan N.V., Novartis AG, F. Hoffmann La-Roche Ltd., Amgen Inc., Pfizer Inc., Merck & Co. Inc., Dr. Reddy’s Laboratories Ltd., Intas Pharmaceuticals Ltd., Novo Nordisk A/S, Eli Lilly and Company, Sanofi S.A., Boehringer Ingelheim, Bristol-Myers Squibb Company, and Abbot Laboratories, among others, are some significant players included in the research study of the global microbial therapeutic products market.
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