Human Microbiome Market worth $658 Million by 2023 - New Research Report By MarketsandMakets
(PRWEB) November 27, 2014 -- The "Human Microbiome Market by Disease (Diabetes, Obesity, Autoimmune, Cancer, Diarrhea, Mental Disorder), Application (Therapeutic, Diagnostic) & by Product (Probiotic, Prebiotic, Food, Medical Food, Supplement, Device, Drug) –Global Forecast to 2023", provides a detailed overview of the major drivers, restraints, challenges, opportunities, current market trends, and strategies impacting the human microbiome market along with the estimates and forecasts of the revenue and share analysis.
Browse 40 market data tables and 61 figures spread through 150 Pages and in-depth TOC on “Human Microbiome Market”.
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The human microbiome market is expected to be valued as $294 million in 2019 and is poised to grow at a CAGR of 22.3% within the forecast period of 2019-2023.
Microbiome-based drugs are expected to see an increased demand in the future, because of the rise in incidences of lifestyle diseases and associated side-effects of various therapies across the world. Significant growth in the human microbiome market will be mainly driven by the rise in awareness of its use in diseases such as diarrhea, diabetes, obesity, and autoimmune disorders. The need for early disease detection and diagnosis will also drive the use of microbiomes in molecular diagnostics. In addition, the representation of human microbiomes as validated targets for developing drugs and chemical entities will further boost growth in the market.
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Advances in human microbiome-based diagnostic applications may offer a wide range of new technologies that will help in cost- and time-efficient disease diagnosis. With the introduction of microbiome techniques, the market will witness higher growth in the forecast period.
The growing awareness on healthcare has fueled the demand for products such as probiotics, prebiotics, medical foods, which is driving the growth of the human microbiome market segment. The largest product segment in this market is probiotics, which is expected to grow at a quick pace in the coming years. Market players have heightened their focus on this segment, as a result of which products launches in this sector have increased.
The market, by disease, is categorized into obesity, diabetes, and autoimmune disorders, among other segments. Obesity is poised to be the fastest-growing market in the coming five years, followed by diabetes. The need for reliable, specific drugs with reduced side effects to cure these diseases at the early stage is expected to drive the microbiome disease segment market.
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Europe is expected to be the largest contributor to the human microbiome market, owing to the rise in the lifestyle diseases and increased demand and awareness of prebiotics and probiotics. Asia, on the other hand, is expected to be the most profitable region. It is poised to grow at a higher CAGR over the forecasted period, owing to its large population base and rising purchasing power of the middle class. North America is expected to show slow growth due to low acceptance of microbiome products and regulatory issues. However, the probiotics market in this region is expected to grow rapidly due to the general affinity of the U.S. population towards probiotic dietary supplements and the concept of preventive healthcare.
The key players in the human microbiome market are Enterome Bioscience (France), Yakult (Japan), DuPont (U.S.), Metabiomics Corporation (U.S.), ViThera Pharmaceuticals (U.S.), Second Genome Inc. (U.S.), MicroBiome Therapeutics LLC (U.S.), Vedanta BioSciences (U.S.), Osel (U.S.), and Merck (U.S.).
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