by The global Human Microbiome Market is estimated to be valued at US$617.9 Mn in 2023 and is expected to exhibit a CAGR of 24.6% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
The Human Microbiome Market is focused on the study of microorganisms that reside in and on the human body. These microorganisms play a crucial role in maintaining human health and preventing diseases. The market offers various microbiome-based therapeutics and diagnostics that target a wide range of medical conditions. These products provide advantages such as personalized treatment options, improved efficacy, and reduced adverse effects. The need for microbiome-based products has increased due to the growing prevalence of chronic diseases and the rise in antibiotic resistance.
Market key trends:
One key trend in the Human Microbiome Market is the increasing adoption of fecal microbiota transplantation (FMT) as a treatment option for various gastrointestinal disorders. FMT involves transferring the fecal matter from a healthy donor into the gastrointestinal tract of a patient to restore the microbial balance. This procedure has shown promising results in the management of conditions like Clostridium difficile infection and inflammatory bowel disease. The growing research and development in FMT techniques and the launch of new FMT products by key market players are expected to drive market growth in the coming years.
Porter’s Analysis:
Threat of new entrants: The threat of new entrants in the human microbiome market is low. The market requires high research and development investments, rigorous regulatory approvals, and specialized knowledge in microbiology. These factors act as barriers for new entrants, limiting their ability to compete with established players.
Bargaining power of buyers: The bargaining power of buyers in the human microbiome market is moderate. While buyers have the option to choose from various products and services offered by different companies, the market is still dominated by a few key players. This gives these players some leverage in negotiating prices and terms with buyers.
Bargaining power of suppliers: The bargaining power of suppliers in the human microbiome market is moderate. Suppliers in this market mostly include research institutions and microbiome sample providers. While there are several suppliers available, the demand for high-quality samples and research expertise give them some bargaining power in terms of price and availability.
Threat of new substitutes: The threat of new substitutes in the human microbiome market is low. The unique nature of microbiome-based therapies and products makes it difficult for substitutes to effectively replicate their benefits. This, coupled with the high research and development costs associated with developing alternatives, reduces the threat of substitution.
Competitive rivalry: The competitive rivalry in the human microbiome market is high. The market is dominated by a few key players and is characterized by intense competition to develop and commercialize microbiome-based therapies and products. The presence of numerous startups and collaborations further intensifies the competition.
Key Takeaways:
The Global Human Microbiome Market Size is expected to witness high growth, exhibiting a CAGR of 24.6% over the forecast period. This growth can be attributed to the increasing prevalence of chronic diseases and the rising demand for microbiome-based therapies and products. The market is also driven by advancements in genomic technologies and increased investment in microbiome research.
In terms of regional analysis, North America is the fastest growing and dominating region in the human microbiome market. This can be attributed to the presence of several key players, favorable regulatory environment, and high healthcare expenditure in the region. Europe and Asia Pacific are also expected to witness significant growth due to increasing awareness and adoption of microbiome-based therapies.
Key players operating in the human microbiome market include Seres Therapeutics, Biomesense, Microbiotica, Infant Bacterial Therapeutics AB, Vedanta Biosciences, Inc., Second genome therapeutics, 4D Pharma Ferring Inc, Enterome, BiomX, MaaT Pharma, Azitra, Illumina, Inc, Locus Biosciences, Inc, Finch Therapeutics Group, Inc, Rebiotix Inc, Servatus Ltd, Microbiome Research Pvt. Ltd, AOBiome, Axial Therapeutics, Inc, and Biomica. These companies are actively involved in developing and commercializing microbiome-based therapies, and their strong presence in the market contributes to the competitive rivalry.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
