Wellesley, MA (PRWEB) September 07, 2013
According to a new technical market research report, Microbial Products: Technologies, Applications and Global Markets from BCC Research (http://www.bccresearch.com), the global market for microbial products was valued at $117 billion in 2012 and is expected to grow to nearly $134 billion in 2013. BCC Research projects the market to reach nearly $179 billion by 2018, and register a compound annual growth rate (CAGR) of 6%.
Microbes were used for centuries to produce bread, wine, vinegar, and other common products —without anyone knowing the scientific basis for the ingredient. The discipline known today as microbiology was not established until the late 19th century.
The technology related to microbial production of metabolites such as ethanol, lactic acid, butanol, and riboflavin, and enzymes such as protease, amylase, and invertase was developed as early as the first few decades of the 20th century. Large-scale production of the antibiotic penicillin from Penicillium fungi was perfected during World War II and the microbial production of other antibiotics, amino acids, nucleotides, and enzymes soon followed.
Today, genetically engineered microbes are used for the commercial production of nonmicrobial products such as insulin, interferon, human growth hormone and viral vaccines. Microbes are also used to produce energy (e.g., biodiesel and bioethanol) and to clean up environmental pollutants such as sewage and oil spills. As the active ingredient in biofertilizers and biopesticides, microbes contribute to increasing agricultural productivity, and form the basis of cost-effective methods of mining and metallurgy. Indeed, the commercial possibilities of microbes appear endless.
This report is an update of an earlier BCC Research report published in 2011. It surveys microbial applications in a wide range of fields based on the most recent data, identifies the applications that appear to have significant commercial potential in the near- to mid-term and to develop quantitative estimates of their current and future sales. This new report from BCC Research analyzes the global market for microbes and microbial products used in commercial applications during the period from 2012 through 2018. These applications include agricultural, healthcare, manufacturing, energy and environmental applications.
This report is intended especially for biotechnology marketing executives, entrepreneurs, investors, venture capitalists and other readers with a need to know where the market for microbial technologies and products is headed over the next five years. Scientists and technologists will also find this study of interest as its findings concern the market for their work, and by extension the availability of government and corporate research funding for different technologies and applications.
Both primary and secondary research methodologies were used in preparing this study. The findings and conclusions of this report are based on information gathered from developers, vendors, and users of microbial products for commercial applications. Interview data was combined with information gathered through an extensive review of secondary sources such as trade publications, trade associations, company literature, and online databases to produce the baseline market estimates contained in this report.