The global Human Microbiome Market has been studied by Transparency Market Research (TMR) to attract a substantial count of companies foraying into it. This could take place in a time where the market is still growing out of its nascent stage. TMR has also predicted the market to witness an intense competition, as a result, in the near future. The market has been occupied by leading contestants such as uBiome Inc., Synthetic Biologics Inc., Seres Therapeutics, Vedanta Biosciences, and Enterome Biosciences SA. If you are a player looking to expand your business in the market, you could follow some of the go-to strategies adopted by key companies such as mergers and acquisitions.
The global human microbiome market could be divided into two chief classifications: therapeutics and diagnostics. Analysts at TMR have envisaged the global human microbiome therapeutics market to expand its growth at a 9.2% CAGR during the forecast tenure 2020-2024. By 2024, the market could earn an around US$1.7 bn after touching a valuation of US$1.2 bn in 2020. On the basis of technology, the analysts have foreseen the global human microbiome diagnostics market to testify of the marginal lead expected to be secured by 16s rRNA sequencing at a 2024 valuation of US$0.7 bn. Regionally, North America could be at a commanding position in the global human microbiome therapeutics market while growing at a CAGR of 9.1% between 2020 and 2024.
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Rising Partnerships between Industry and Institutes Fuel Growth in Market
Earlier in 2017, there were clinical translational medicine collaborations between Vedanta Biosciences and two institutes, i.e. Leiden University Medical Center and Stanford University School of Medicine. With a view to improve their market strategies, companies are looking to team up with eminent physicians, researchers, and scientists in the field. If you are a small startup or your company needs angel investors and venture capitalists, it could be encouraging to know that the world human microbiome market has witnessed a rise in venture capital investments in the recent years. Microbiome-based diagnosis and treatment methods have been showing quite some promise, thus winning the confidence of investors in the market.
The completion of the NIH Human Microbiome Project has propelled growth in the market as it has provided advanced knowledge about the relation between human health and the microbiome. This knowledge is extensively used in drug discovery and development.
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Clinical Trial Setbacks and Regulatory Hurdles Cause Problems in Growth
Undesirable results obtained out of clinical trials and regulatory hurdles have been projected to upset the growth of the international human microbiome market when it is still in the nascent phase. However, advances and expertise in the field could dilute the effect of such minor setbacks companies may have been facing today. Concerns over anonymity and privacy of the genetic data of subjects similar to those related to 23andMe’s genetic tests could be another factor restraining market growth.
Since microbiome composition changes over time and holds a dynamic nature and the microbiome of every individual is different, standardization of diagnostic tests is extremely crucial. If the standardization is not actuated well, there could be a possibility of market growth being hampered. However, improved success rates of the treatment of major health problems and life-threatening diseases using microbiome-based techniques have been prophesied to set the tone for a valuable growth in the international human microbiome market. Furthermore, novel drug delivery systems and drug formulations could create robust growth opportunities in the market.
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