Microbiome Market Size, Share, Growth Analysis, By Product(Probiotics, Prebiotics, Symbiotics, Others), By Application(Therapeutics, Diagnostics, Nutrition and Dietics, Others), By Distribution Channel(Retail Pharmacies, Online Pharmacies, Supermarkets and Hypermarket), By Region - Industry Forecast 2024-2031

Report ID: SQMIG35J2043 | Region: Global | Published Date: February, 2024
Pages: 224 | Tables: 92 | Figures: 76

Microbiome Market Insights

Microbiome Market size was valued at USD 573.42 billion in 2019 and is poised to grow from USD 743.21 billion in 2023 to USD 5918.61 billion by 2031, growing at a CAGR of 29.61% in the forecast period (2024-2031).

Microbiome is a collection of microorganisms that live on and within our bodies. The United States National Institutes of Health (NIH) started the Human Microbiome Project to increase understanding of the microbial flora involved in human health and disease. The market is expanding as a result of factors such as an increase in the number of strategic alliances for microbiome therapies for R&D, product development, the anticipated introduction of innovative medications, and portfolio enhancement. For example, Hudson Institute and BiomeBank announced a four-year agreement in January 2022 to develop and discover microbial treatments. Furthermore, the increasing prevalence of target diseases is driving up demand for microbiome therapies.

US Microbiome Market is poised to grow at a sustainable CAGR for the next forecast year.

Microbiome Market Report Snapshots

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The market is fragmented in nature. The prominent players operating in the market are constantly adopting various growth strategies in order to stay afloat in the market. Product launches, innovations, mergers, and acquisitions, collaborations and partnerships, and intensive R&D are some of the growth strategies that are adopted by these key players to thrive in the competitive market. The key market players are also constantly focused on R&D in order to supply industries with the most efficient and cost-effective solutions. 'Second Genome Inc.', 'Viome Inc.', 'uBiome Inc.', 'Enterome SA', 'Seres Therapeutics Inc.', 'Rebiotix Inc.', 'Vedanta Biosciences Inc.', 'Microbiome Insights Inc.', 'Microbiome Therapeutics LLC', 'Finch Therapeutics Group Inc.', 'BiomX Inc.', 'Synlogic Inc.', 'Immuron Ltd.', 'Axial Biotherapeutics Inc.', 'AOBiome LLC', 'Evelo Biosciences Inc.', 'Diversigen Inc.', 'DayTwo Inc.', 'Biomillenia SAS', 'Caelus Health Inc.'

Increasing focus on human microbiome therapeutics development

Increasing collaborations between public-private organizations

North America is expected to account for the lion's share of the global human microbiome market. The region's domination is due to the rising prevalence of lifestyle problems and advances in next-generation sequencing. For example, Illumina Inc., a major player in the United States, claims that the introduction of next-generation sequencing enables various high-profile joint projects, like the Human Microbiome Project and MetaHIT. Using Next Generation Sequencing as a basic tool, these projects have published a wide range of data on the human microbiome.

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Microbiome Market Insights

Microbiome Market Report Snapshots

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