What are the key trends in the global Microbial Products Market?
Global Microbial
Products Market - Highlights
Microbial products are produced by
microbes such as a bacteria, yeast, or fungus. Medicinal microbiology includes
production of enzymes, antibiotics, nutrients such as amino acids, vitamins, and organic acids,
chemotherapeutic agents, vaccines etc. Some of the applications of microbial
products are manufacturing of solvents and reagents such as ethanol, lactic
acid, butanol etc. Synthesis of amino acids such as are L-Methionine, L-Lysine,
L-Tryptophan, L-Glutamic acid etc. are another use of industrial microbiology
for production of microbial products.
On the other hand, there are certain
hurdles for the growth of this market. The highly fragmented nature of the
industry, pressures on profits due to cutthroat competition, secrecy
surrounding the fermentation process, substandard low-quality producers
operating from unknown locations are some of the factors that may hinder the
growth of the microbial products market soon.
According to a recent study published
by the Market Research Future analysts, the microbial
products market is expected to reach USD 1,910
Million by 2030 at 6.20% CAGR during the forecast period 2022-2030. The market
for microbial products is driven mainly due to growing prevalence of diseases,
rising demand for healthcare nutrients such as vitamins, rising rates of
cancers, rising demand for diagnostics microbial products, rise of lifestyles
industry recommending many of these products etc.
Global Microbial Products Market -
Regional Analysis
European market is second highest
revenue generator after North America. Europe microbial products market has
benefited by the presence of some major players in this region. Moreover,
increasing innovation and changing laboratory practices are driving the growth
for Europe microbial products market.
In 2016, North America and Europe
were holding more than half market share of global microbial products market.
Increasing funding for R&D is major driving force for the market growth.
The funding for microbiology research in US is one of the highest as compared
to other countries. Rapid adoption of advanced products and techniques are
driving the growth for North America market. Increasing demand for high quality
reagents, and solvents for the use in performing various rapid microbial testing are promoting the research related activities in this region.
Independent laboratories are dominating the North America market by adopting
new technologies and trends.
Microbiology products have huge and increasing demand not only in developed
countries but also in developing countries like India & China. The presence
of unmet medical needs and the growing industrial demand are the strongest
driver for the growth in these markets. Thus, there is larger potential to grow
in the developing regions due to less competition. The growing number of
biotech firms and the growing demand for high quality solvents to satisfy the
industrial base will drive the future market.
The Middle East and Africa microbial
products market report is
growing gradually with the development in the research. Moreover, developing
healthcare infrastructure in some of the countries like UAE, Saudi Arabia,
Oman, South Africa have helped the growth of the overall healthcare segment
also including the microbial products. However, there are some factors are
affecting the microbial products market in this region such as, limited access
to the healthcare facilities in underdeveloped parts, lack of knowledge of new
microbial products, less market penetration by companies, and limited
availability of products etc. Currently Middle East & Africa region contributes
least to the global microbial products market.
Microbial Products Market - Segmentation
The Microbial Products Market can be
segmented in to 3 key dynamics for the convenience of the report and enhanced
understanding.
Segmentation By Application : Comprises In Agriculture
(Pesticides- Bacteria, Protozoa, Fungi, Nematodes, Fertilizers- Nitrogen bio
fertilizers, phosphorus bio fertilizers), In Healthcare (Microbial
Biopharmaceuticals, Therapeutics), In Manufacturing (Food Processing, Enzymes,
Biopolymers), In Energy (Biofuels, Microbial-Enhanced Oil Recovery, Microbial
Fuel Cells, Hydrogen Production), In
Environment (Environmental monitoring, Bioremediation, Recycling, Oil Spills
& Residues Clean-up Wastewater & Sewage Treatment)
Segmentation By End Users : Comprises Healthcare,
Manufacturing, Agriculture, and Energy, Environment and other and other.
Segmentation By Regions : Comprises Geographical regions -
North America, Europe, APAC and Rest of the World.
Global Microbial Products Market
Players
Microbial products market players are Amgen Inc., Merck & Co., Inc.,
Valent BioSciences Corp., GlaxoSmithKline plc, Pfizer Inc., bioMérieux SA,
Ajinomoto Co.Inc., Sanofi S.A, Novartis AG, NovaDigm Therapeutics, Kyowa Hakko
Bio Co., Ltd. and others.
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