Growth Opportunities in Human Microbiome Market, Forecast to 2023
Interest in the microbiome as a science and industry has exploded over the past decade. Innovations are happening across 3 significant categories for human health benefits: microbiome-based therapeutics, over-the-counter (OTC) dietary supplements, and self-diagnostics/screening. The OTC market is the largest because of the lack of precise regulation, but the importance of therapeutic and diagnostic products is rapidly increasing with more research substantiating the potential of microbiome-based therapy. Diagnostic applications of the microbiome include the diagnosis of infections and monitoring of microbial components related to non-communicable, chronic diseases.
The effect of next-generation sequencing (NGS) and the disruptive response to genomics has resulted in the development of novel, biomarker-based diagnostics and screening tests that only detect microbiome interactions or presence in humans. These are either direct-to-consumer products for more robust evaluations.
Because microbiome-based therapies constitute an entirely new therapeutic category, there is much uncertainty about the best paths to commercialization The United States is expected to have a faster adoption due to higher interest and awareness generated in this field by the Food and Drug Administration (FDA). One of the critical challenges in microbiome research is deciding whether a particular change in the microbiota is accountable for a specific condition, or if it is a side effect. The complexity of the microbiome and the fact that each person has a distinct one makes it extremely difficult to determine cause-effect relationships.
The global demand for more effective medicines and healthier nutrition will continue to drive the development of microbiomic products. Advancements in genomic sequencing and computer algorithms are expected to create both medicines and therapeutics based on individual microbiomes for better outcomes and healthier lives that will prevent or minimize diseases.
This study highlights the growth opportunities, visioning scenarios, innovative business models/use cases, competitive landscape, and key drivers and restraints, along with a revenue forecast for the human microbiome market.
Key Issues Addressed
What is the market size and growth forecast for the human microbiome segments?
Who are the key competitors in this market? How does the competitive landscape look like?
What are the key growth opportunities for existing companies and new entrants in this market?
What changes to the business model are required from companies to cater to changes in market conditions?
How is the human microbiome market evolving? What are the key partnerships and collaborations in this industry?
What are the strategic imperatives for human microbiome industry participants?
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