The human microbiome market is an emerging market with abundant opportunities. The market is expected to flourish within five to seven years owing to a number of products currently under the clinical trial phase. The market potential is quite large, considering the structure of the market. The factors driving this market include rising aging population, increasing incidences of lifestyle diseases, gradual demand for efficient and safe medication with no side effects, and treatment of diseases having a limited success rate. The factors restraining this market include lack of comprehensive research to assist in market pull, lack of awareness among the population regarding the efficient usage and effect of prebiotics and probiotics, and impending government regulations on probiotics and prebiotics.
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.
The human microbiome market is divided into three major segments, namely, application, disease, and product. Different products in the human microbiome market and its usage are expected to contribute to the growth of the overall market. Increase in lifestyle diseases will help the market to proliferate, while the application segment is also considered as a major driving factor for the market.
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Europe is expected to command as a resourceful market with the largest share in the human microbiome market and expected to grow within the coming years. The primary growth driver for Europe is the aging population size and the increasing lifestyle diseases. The increasing need among the population to stay fit and have a healthy lifestyle has leveraged the use of prebiotics and probiotics. The consumers seek for a wider variety of food and beverages that contain beneficial probiotics and prebiotics and other food supplements that helps to maintain microbiome balance. APAC accounted for the second-largest market share and will be the main focus of the market in the coming five years that will register high-growth rates for all the segments. The U.S. market at present is a niche market due to the lack of awareness among the population regarding the beneficial usage of prebiotics and probiotics. However, the U.S. is expected to be a potential market for the growth of this region in the forecast period.
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The geographic analysis reveals that Europe will account for the largest share within the forecast period of 2019 to 2023, due to high acceptance of probiotic and prebiotic produtcs. Asia is expected to be a profitable region for the human microbiome market and poised to grow at a healthy CAGR in the forecast period. North America will show a low market share; however, it is expected to grow at a high CAGR from 2019 to 2023.
The key players in the human microbiome market are Enterome Bioscience (France), Yakult Honsha Co., Ltd. (Japan), E. I. Du Pont de Nemours and company (U.S.), Metabiomics Corporation (U.S.), ViThera Pharmaceuticals (U.S.), Second Genome, Inc. ( U.S.), MicroBiome Therapeutics LLC (U.S.), Vedanta BioSciences, Inc. (U.S.), Osel, Inc. (U.S.), and Merck & Co, Inc. (U.S.)
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