23-Aug-2022 | Zion Market Research
The global microbial therapeutic products market size was worth USD 63,281.50 million in 2021 and is estimated to grow to about USD 95,502.24 million by 2028, with a compound annual growth rate (CAGR) of around 7.10 percent during the forecast period. The report analyzes the microbial therapeutic products market's drivers, restraints/challenges, and their effect on the demands during the projection period. In addition, the report explores emerging opportunities in the microbial therapeutic products market.
Microorganisms form microbial products, and the microbial manufacturing biotechnology industry is related to this area. These bacteria have been used for decades to make cheese, bread, vinegar, and wine, among many others. Medical microbiology includes enzymes, antibiotics, nutrients such as amino acids, vitamins, and organic acids, as well as vaccine production. The growing demand for healthcare nutrients such as vitamins and the ever-increasing demand for diagnostic microbiology products is expected to drive the global microbiological therapeutic products market in the forecast years. addition, the rise of diseases such as cancer is expected to boost the industry in the coming years. Other factors expected to drive market growth during the estimated period include enzyme production for end-use industries such as food preservation, leather, and paper. Several limitations and issues need to be overcome for the market to continue to grow. At the same time, budget constraints of small and medium-sized market players hamper the market growth during the forecast period.
The global microbial therapeutic products market is segregated based on product, route of administration, source, application, end-user, and region. Based on product, the market is divided into GCSF, peg GCSF, exenatide, anti-cancer agents, immunosuppressants, enzymes, and others. In 2021, anti-cancer agents had a significant share. By route of administration, the market is categorized into single-use pre-filled injection/injector pens, multi-use injectors, and others. In 2021, the single-use pre-filled injection/injector pens category dominated the global market. By source, the market is divided into bacteria and fungi. In 2021, the bacteria category dominated the global market. By application, the market is bifurcated into metabolic disorders, hematological disorders, oncology, immunological disorders, infectious diseases, allergic diseases, and others. In 2021, oncology dominated the global market.
North America is expected to be the dominant region in the global microbial therapeutic products market during the forecast period due to technological advances and increased industry research and development investment. Each year, the personal care industry in the United States reaches an increasingly high level of development. Women nationwide use 12 personal care products daily, while men use an average of six products daily. With more independent companies with shorter supply chains and greater resonance with younger customers, consumer spending has shifted primarily to skin care. Cosmetics are an essential component of the personal care business in the country, and some larger companies are having trouble complying with the definition of probiotics as living organisms in molded microbiological products.
Key market players in the global microbial therapeutic products market include Amgen Inc., F. Hoffmann La-Roche Ltd., Mylan N.V., Novartis AG, Biocon, Merck & Co. Inc., Pfizer Inc., Intas Pharmaceuticals Ltd., Dr. Reddy's Laboratories Ltd., Eli Lilly and Company, Sanofi S.A., Boehringer Ingelheim, Bristol-Myers Squibb Company, Novo Nordisk A/S, and Abbot Laboratories.
Browse the full “Global Microbial Therapeutic Products Market By Product (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, Hematological Disorders, Oncology, Immunological Disorders, Infectious Diseases, Allergic Diseases, and Others), By End-user (Hospitals, Pharmaceuticals & Biopharmaceutical Companies, and Research & Academic Institutions), and By Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2022 – 2028.” Report at https://www.zionmarketresearch.com/report/microbial-therapeutic-products-market
The global microbial therapeutic products market is segmented as follows:
By Route of Administration
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