Friday, July 29, 2022
Specimen Retrieval Market worth $290 million by 2024 - Exclusive Report by MarketsandMarkets™
Browse in-depth TOC on "Specimen Retrieval Market”
78 – Tables
250 – Figures
117 – Pages
Non-detachable specimen retrieval systems dominated the Specimen Retrieval Market in 2018
By type, the specimen retrieval market is segmented into detachable and non-detachable specimen retrieval systems. In 2018, the non-detachable specimen retrieval systems segment accounted for the largest share of the market. The large share of this type segment can be attributed to their high preference among surgeons, owing to the fact that they can be used multiple times in a single procedure.
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Gastrointestinal surgeries held the largest share of the applications market in 2018
Based on applications, the specimen retrieval market is segmented into gastrointestinal surgeries, urological surgeries, gynecological surgeries and other applications such as cardiovascular and bariatric surgeries. In 2018, the gastrointestinal surgeries application segment accounted for the largest share of the specimen retrieval systems market. The large share of this segment can be attributed to the increasing incidence of colon/gastrointestinal cancer, inguinal hernia, and gall bladder stones.
Hospitals were the largest end users of specimen retrieval in 2018
By end user, the specimen retrieval market is segmented into hospitals and other end users. The hospitals segment accounted for the largest market share in 2018 and is expected to register the highest growth during the forecast period. The large share and high CAGR of this segment can be attributed to the robust infrastructure and presence of skilled professionals in hospitals, which has driven the preference for hospital-based treatment.
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North America commanded the largest share of the specimen retrieval systems market in 2018
North America dominates the specimen retrieval market. The large share of North America in this market can be attributed to the increasing incidence and prevalence of cancer, hernia, and appendectomy and the availability of reimbursement for laparoscopic surgeries in the region.
Some of the major players in this market include Johnson & Johnson Services, Inc. (US), Teleflex Incorporated (US), Applied Medical Resources Corporation (US), CONMED Corporation (US), Cooper Surgical, Inc. (US), Genicon (US), B. Braun Melsungen AG (Germany), Laprosurge (UK), Purple Surgical (UK), and Medtronic (Ireland).
Browse Adjacent Market: Medical Devices Market Research Reports & Consulting
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Minimally Invasive Surgical Instruments Market by Product (Handheld Instruments, Inflation Devices, Surgical Scopes), Type of Surgery (Cardiothoracic, Gastrointestinal, Orthopedic, Urological), End User (Hospitals, ASCs), Region (2022 - 2026)
Wednesday, July 27, 2022
Fertility Test Market - Future Growth Prospects for Key Players - Exclusive Report by MarketsandMarkets™
The fertility test market is projected to reach USD 680 Million by 2025 from USD 472 Million in 2020, at a CAGR of 7.5 % during the forecast period, according to a new report by MarketsandMarkets™. Growth in this market is primarily driven by the increasing first-time pregnancy age in women, declining fertility rate among men and women, growing number of women suffering from disorders such as PCOS, emergence of advanced ovulation monitors, and the increased awareness of fertility testing in both developed as well as developing countries. On the other hand, the unproven accuracy of urine-based ovulation monitors in women suffering from PCOS and the lesser precision to confirm ovulation using ovulation prediction kits are the factors that are expected to restrain market growth to a certain extent in the coming years.
Browse in-depth TOC on "Fertility Test Market”
161 – Tables
35 – Figures
183 – Pages
Leading Companies:
Swiss Precision Diagnostics (Switzerland), Church & Dwight (US), Prestige Brands Holdings (US), bioZhena (US), Fairhaven Health (US), Fertility Focus (UK), Geratherm Medical (Germany), Hilin Life Products (US), UEBE Medical (Germany), AdvaCare Pharma (US), AVA (Switzerland), Babystart (UK), Valley Electronics (Germany), Sensiia (UK), and Mira Care (US), among others are some of the major players operating in the global fertility test market.
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Growth Strategies Adopted:
The competitive landscape includes the analysis of the key growth strategies adopted by major players between 2017–2020 to expand their global presence and increase their market shares in fertility test market. The key growth strategies adopted by the top players in the market include product launches and approvals, agreements, expansions, and acquisitions. Product launches and enhancement were the most widely adopted growth strategies by market players in the last three years to garner a larger share of the market. In 2020, the fertility test market was dominated by Swiss Precision Diagnostics (Switzerland), Church & Dwight (US), Prestige Brand Holdings (US) and Babystart (UK).
As of 2020, Swiss Precision Diagnostics holds the leading position in the global fertility test market. The company is one of the leading manufacturers and suppliers of fertility/ovulation tests for women. Clearblue is the flagship product of the company and has a very strong brand presence in countries such as the US, the UK, and Europe. Along with this, the company’s wide distribution network and innovative marketing strategies are the key factors contributing to its dominant share in the market. With the aim to maintain its dominant share in this highly competitive market, SPD focuses on product launches as its key growth strategy.
Church & Dwight (US) held the second position in the global fertility test market. The company has a strong geographic presence with subsidiaries across seven countries, including the UK, France, Germany, Canada, Mexico, Australia, and Brazil. Church & Dwight provides its fertility testing products to a large customer base through its wide distribution network across 130 countries. The company is focusing its efforts to increase awareness about issues related to infertility and help women understand their reproductive health and fertile window to improve the conception rate. Church & Dwight is expected to witness growth in the coming years due to its multiple initiatives to create awareness regarding fertility.
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Prestige Brands Holdings (US) is engaged in the manufacturing, marketing, and distribution of OTC healthcare and household cleaning products in the US, Canada, Australia, and other international markets. It sold its women’s healthcare, pregnancy, and fertility testing products under the brand e.p.t. As of January 2017, NFI Consumer Healthcare (US), a division of Gregory Pharmaceutical Holdings (US), acquired the e.p.t brand from Prestige Brands Holdings
NFI is an innovative consumer products company that manufactures and distributes several brands of nutritional supplements in the Health and Beauty Care Category. With this acquisition, NFI entered into the womens health OTC market, and is focusing on enhancing its sales and marketing efforts so that it can expand into existing and new market channels. With its focus primarily on the increasing awareness on fertility and the development of technologically advanced products, the company is expected to witness significant growth in the market during the forecast period.
North America dominated the global fertility test market in 2020
North America, comprising the US and Canada, accounted for the largest share of the fertility test market in 2020. The large share of this region can primarily be attributed to factors such as high prevalence of infertility, increasing awareness about fertility testing among women, the rising age of first-time pregnancies in women, and the easy availability of ovulation and fertility monitors through e-commerce websites.
Browse Adjacent Market: Medical Devices Market Research Reports & Consulting
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In Vitro Fertilization /IVF Market by Product (Micromanipulators, Incubators, Cabinets, Imaging System, Laser System, Reagents & Accessories), Type (Conventional IVF, IVF with ICSI), End User (Fertility Clinics, Hospitals, Cryobanks) (2022 - 2026)
https://www.marketsandmarkets.com/Market-Reports/in-vitro-fertilization-market-89198891.html
Tuesday, July 26, 2022
Leading Market Players Operating in Global Stem Cell Banking Market - Exclusive Report by MarketsandMarkets™
The global stem cell banking market is projected to reach USD 9.30 Billion by 2023 from 6.28 Billion in 2018, at a CAGR of 8.2%, according to a new report by MarketsandMarkets™. Factors such as the growing public awareness about the therapeutic potential of stem cells; development of novel technologies for stem cell preservation, processing & storage; rising number of hematopoietic stem cell transplantations (HSCTs); and increasing investments in stem cell-based research are driving the growth of the market. However, the high operational costs associated with stem cell banking and stringent regulatory frameworks are expected to limit the growth of the stem cell banking market during the forecast period.
Browse in-depth TOC on "Stem Cell Banking Market”
58 – Tables
31 – Figures
124 – Pages
Key Players:
The major players in the market include Cord Blood Registry (CBR) Systems (US), Cordlife Group Limited (Singapore), Cryo-Cell International (US), ViaCord (US), Cryo-Save AG (Netherlands), LifeCell International (India), StemCyte (US), Global Cord Blood Corporation (China), Smart Cells International (UK), Vita34 AG (Germany), and CryoHoldco (Mexico); among others.
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Growth Strategies Adopted by Them:
Analysis of the market developments between 2015 and 2018 reveals that several growth strategies such as service launches & upgrades; agreements, partnerships, & collaborations; and mergers & acquisitions were adopted by the market players to strengthen and competitive position in the global stem cell banking market. Among these business strategies, agreements, partnerships, & collaborations were the most widely adopted growth strategies by majority of market players worldwide.
Cord Blood Registry (CBR) Systems held the leading position in the global stem cell banking market in 2017. The company has a widespread presence and large customer base in the US. The company primarily focuses on advancing its umbilical cord preservation services through the adoption of inorganic growth strategies such as collaborations and partnerships. In 2017, the company collaborated with the New York Stem Cell Foundation (US) to develop induced pluripotent stem cells from umbilical cords. In addition to this, in 2015, the company entered into a strategic collaboration with Global Cord Blood Corporation (China) to integrate their methodologies for the collection, processing, and storage of umbilical cords and improve the overall stem cell banking service standards in the US and China.
Cordlife held the second position in the global stem cell banking market in 2017. The company is a leading player in the Asian stem cell banking market with its robust presence across eight countries and high-quality services. To sustain its leading position in the Asian region, the company mainly focuses on increasing its customer base through agreements. For instance, in 2017, the company entered into an agreement with IPS Trading and Service Joint Stock Company (Vietnam) to offer umbilical cord banking services and non-invasive metabolic newborn screening in Vietnam. Similarly, in 2016, the company collaborated with Bio Secure Company Limited (Myanmar) to offer umbilical cord banking services in Myanmar.
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North America is expected to dominate the stem cell banking market in 2019
Geographically, the market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. North America is expected to account for the largest share in 2019. The expanding network of stem cell banking services across the region, ongoing approval of stem cell lines for disease treatment (especially for hematopoietic & autoimmune disorders), recent technological advancements in the field of stem cell collection and preservation techniques, and rising public-private investments for stem cell researches are driving the growth of the stem cell banking market in North America.
Recent Developments:
# In 2017, Life Cell International (India), launched upgraded and enhanced its umbilical cord collection kit
# In 2017, Vita34 AG (Germany) acquired Seracell Pharma AG (Germany) to strengthen its position in the German stem cell banking market.
# In 2016, StemCyte India Therapeutics Pvt. Ltd. (India), a subsidiary of StemCyte (US) received accreditation from The Foundation for the Accreditation of Cellular Therapy (FACT) for both public and private stem cell banking services.
# In 2015, Cord Blood Registry (CBR) Systems (US) entered into a collaboration agreement with New York Stem Cell Foundation (US) to develop induced pluripotent stem cells from umbilical cords
Browse Adjacent Market: Biotechnology Market Research Reports & Consulting
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https://www.marketsandmarkets.com/Market-Reports/stem-cell-manufacturing-market-70743403.html
Monday, July 25, 2022
Healthcare IT Market: Major Monetary Gains are Expected by 2026 - Exclusive Report by MarketsandMarkets™
The global Healthcare IT market is projected to reach USD 821.1 billion by 2026 from USD 326.1 billion in 2021, at a CAGR of 20.3% during the forecast period, according to a new report by MarketsandMarkets™. The growth of this market is majorly attributed to government mandates & support for healthcare IT solutions; rising use of big data in healthcare; high returns on investment associated with healthcare IT solutions; the need to curtail escalating healthcare costs; the growing demand for and use of HCIT solutions due to COVID-19; and the growing mHealth, telehealth, and remote patient monitoring markets. On the other hand, IT infrastructural constraints in developing countries, the high cost of deployment of HCIT solutions for small and medium-sized hospitals in emerging countries, and resistance from traditional healthcare providers.
Browse in-depth TOC on "Healthcare IT Market”
477 – Tables
67 – Figures
474 – Pages
By product and services type segment, the healthcare provider solutions segment accounted for the largest market share during the forecast period.
Based on products and services, the healthcare IT market has been segmented into healthcare provider solutions, healthcare payer solutions and HCIT outsourcing services. The factors attributing to the large revenue of the healthcare provider solutions segment include the need to control the growing healthcare costs and improve the efficiency of healthcare services by reducing medical errors.
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Clinical healthcare IT solutions accounted for the largest market share in the healthcare provider solutions segment during the forecast period.
In the healthcare provider solutions segment, clinical healthcare IT solutions accounted for the largest market share during the forecast period. This can be attributed to the increasing demand for improved patient safety and patient care, stringent regulations, and the increasing need for integrated healthcare systems.
In the segment of the healthcare payer solutions, claims management solutions accounted for the largest market share during the forecast period.
Under the segment of the healthcare payer solutions, claims management solutions held the largest share during the forecast period. Growth in this market is mainly driven by the frequent need for upgrades in software applications.
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North America dominates the Healthcare IT market during the forecast period.
North America accounted for the largest share of the Healthcare IT market in 2020. Stringent legislative and accreditation requirements regarding healthcare, the high adoption rate of HCIT technologies, regulatory requirements regarding patient safety, and the presence of a large number of IT companies in North America are the major factor contributing to this.
The major players in the global healthcare IT market include Optum (US), Cerner (US), Cognizant (US), Change Healthcare (US), Philips Healthcare (Netherlands), Epic Systems (US), Dell Technologies (US), Allscripts (US), GE Healthcare (US), IBM (US), athenahealth (US), eClinicalWorks (US), Oracle Corporation (US), Conduent (US), Infor (US), Tata Consultancy Services (India), Wipro Limited (India), Conifer Health (US), Nuance (US), 3M (US), Inovalon (US), InterSystems (US), Carestream Health (US), Orion Health (US), Practice Fusion (US), and SAS Institute (US).
Browse Adjacent Market: Healthcare IT Market Research Reports & Consulting
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https://www.marketsandmarkets.com/Market-Reports/cloud-computing-healthcare-market-347.html
Friday, July 22, 2022
Veterinary PoC Diagnostics Market worth $2.4 billion by 2025 - Exclusive Report by MarketsandMarkets™
The global Veterinary PoC Diagnostics Market size is projected to reach USD 2.4 billion by 2025 from USD 1.4 billion in 2019, at a CAGR of 8.9%, according to a new report by MarketsandMarkets™. Growth in the companion animal population, rising demand for pet insurance, increasing number of veterinary practitioners in developed economies, and technological advancements are some of the factors driving the growth of this market during the forecast period.
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Browse in-depth TOC on "Veterinary PoC Diagnostics Market”
282 – Tables
40 – Figures
262 – Pages
In 2018, the consumables segment dominated the veterinary point-of-care diagnostics market
Based on the product, the consumables segment accounted for the largest share of the veterinary point-of-care diagnostics market in 2019. The increasing volume of clinical chemistry tests performed globally, due to the rising prevalence of chronic diseases in animals, has triggered the development of consumables.
By technology, the clinical biochemistry segment accounted for the largest share of the veterinary point-of-care diagnostic kits and analyzers market in 2018
Based on technology, the market is segmented into immunodiagnostics, clinical biochemistry, molecular diagnostics, hematology, urinalysis, and other technologies. In 2018, the clinical biochemistry segment accounted for the largest share of the veterinary point-of-care diagnostic kits and analyzers industry. The higher preference for various advanced clinical diagnostic products by veterinarians and pet owners are contributing to the large share of this segment.
By application, the clinical pathology segment accounted for the largest market share in 2018
Based on application, the veterinary point-of-care diagnostics market is segmented into clinical pathology, bacteriology, virology, parasitology, and other applications. The clinical pathology segment accounted for the largest market share in 2018. This segment is also projected to register the highest CAGR during the forecast period. The growth in this segment can be attributed to the increasing adoption of chemistry analyzers for the primary diagnosis of diseases in clinics.
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By animal type, the companion animals segment accounted for the largest share of the veterinary point-of-care diagnostics market in 2018
Based on animal type, the market is segmented into companion and livestock animals. In 2018, the companion animals segment accounted for the largest share of the veterinary point-of-care diagnostics market. The increasing companion animal ownership, growing awareness about animal health among pet owners, and rising pet healthcare expenditure are some the factors stimulating the growth of this segment.
By end user, the veterinary clinics segment accounted for the largest share of the veterinary point-of-care diagnostics market in 2018
Based on end user, the market is segmented into veterinary hospitals & academic institutes, veterinary clinics, and home care settings. In 2018, the veterinary clinics segment accounted for the largest share of the market. The large share of this segment is attributed to the growing number of patients visiting vet clinics and the increasing number of private clinical practices.
Prominent players in the veterinary point-of-care diagnostics market include Zoetis, Inc. (US), IDEXX Laboratories, Inc. (US), Heska Corporation (US), Virbac (France), Thermo Fisher Scientific, Inc. (US), Eurolyser Diagnostica GmbH (Austria), Woodley Equipment Company (UK), Randox Laboratories LTD. (UK), AniPOC, Ltd. (UK), Carestream Health, Inc. (a part of ONEX Corporation) (Canada), NeuroLogica Corporation (a part of Samsung Electronics Co. Ltd.) (South Korea), and FUJIFILM SonoSite (a part of FUJIFILM Holdings Corporation) (Japan).
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Browse Adjacent Market: Medical Devices Market Research Reports & Consulting
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https://www.marketsandmarkets.com/Market-Reports/point-of-care-molecular-diagnostic-market-143524127.html
Thursday, July 21, 2022
Healthcare IT Market worth $821.1 billion by 2026 - Exclusive Report by MarketsandMarkets™
The global Healthcare IT market is projected to reach USD 821.1 billion by 2026 from USD 326.1 billion in 2021, at a CAGR of 20.3% during the forecast period, according to a new report by MarketsandMarkets™. The growth of this market is majorly attributed to government mandates & support for healthcare IT solutions; rising use of big data in healthcare; high returns on investment associated with healthcare IT solutions; the need to curtail escalating healthcare costs; the growing demand for and use of HCIT solutions due to COVID-19; and the growing mHealth, telehealth, and remote patient monitoring markets. On the other hand, IT infrastructural constraints in developing countries, the high cost of deployment of HCIT solutions for small and medium-sized hospitals in emerging countries, and resistance from traditional healthcare providers.
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Browse in-depth TOC on "Healthcare IT Market”
477 – Tables
67 – Figures
474 – Pages
By product and services type segment, the healthcare provider solutions segment accounted for the largest market share during the forecast period.
Based on products and services, the healthcare IT market has been segmented into healthcare provider solutions, healthcare payer solutions and HCIT outsourcing services. The factors attributing to the large revenue of the healthcare provider solutions segment include the need to control the growing healthcare costs and improve the efficiency of healthcare services by reducing medical errors.
Clinical healthcare IT solutions accounted for the largest market share in the healthcare provider solutions segment during the forecast period.
In the healthcare provider solutions segment, clinical healthcare IT solutions accounted for the largest market share during the forecast period. This can be attributed to the increasing demand for improved patient safety and patient care, stringent regulations, and the increasing need for integrated healthcare systems.
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In the segment of the healthcare payer solutions, claims management solutions accounted for the largest market share during the forecast period.
Under the segment of the healthcare payer solutions, claims management solutions held the largest share during the forecast period. Growth in this market is mainly driven by the frequent need for upgrades in software applications.
North America dominates the Healthcare IT market during the forecast period.
North America accounted for the largest share of the Healthcare IT market in 2020. Stringent legislative and accreditation requirements regarding healthcare, the high adoption rate of HCIT technologies, regulatory requirements regarding patient safety, and the presence of a large number of IT companies in North America are the major factor contributing to this.
The major players in the global healthcare IT market include Optum (US), Cerner (US), Cognizant (US), Change Healthcare (US), Philips Healthcare (Netherlands), Epic Systems (US), Dell Technologies (US), Allscripts (US), GE Healthcare (US), IBM (US), athenahealth (US), eClinicalWorks (US), Oracle Corporation (US), Conduent (US), Infor (US), Tata Consultancy Services (India), Wipro Limited (India), Conifer Health (US), Nuance (US), 3M (US), Inovalon (US), InterSystems (US), Carestream Health (US), Orion Health (US), Practice Fusion (US), and SAS Institute (US).
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Browse Adjacent Market: Healthcare IT Market Research Reports & Consulting
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Wednesday, July 20, 2022
ePrescribing Market worth $3.3 billion by 2025 - Exclusive Report by MarketsandMarkets™
The global ePrescribing market size is projected to reach USD 3.3 billion by 2025 from USD 1.2 billion in 2020, at a CAGR of 23.3%, according to a new report by MarketsandMarkets™. Factors such as the increasing adoption of EHR solutions, government initiatives and incentive programs, rising focus on reducing the abuse of controlled substances, increasing focus on reducing medical errors, and the need to curtail the escalating healthcare costs are driving the growth of the e-prescribing market. Additionally, the onset of the COVID-19 pandemic has accelerated the use of telemedicine modules and telehealth consultations. This is further driving the adoption of e-prescribing solutions. However, the high cost of deploying e-prescribing solutions, reluctance among healthcare professionals to adopt these solutions, and concerns regarding security and workflow are expected to restrain the growth of this market to a certain extent during the forecast period.
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Browse in-depth TOC on "ePrescribing Market”
150 – Tables
43 – Figures
196 – Pages
The ePrescribing market is segmented based on the type of product & service, delivery mode, end user, and region. Due to lockdown restrictions and social distancing protocols due to COVID-19 across various countries through the first half of 2020, the market saw an increase in the number of telehealth consultations followed by use of eprescribing solutions to prescribe medicines. Additionally, governments across countries are trying to regulate and expedite the use of ePrescribng functionality with telehealth functionality to avoid unnecessary hospital visits. Hence, the market is expected to show a slight increase in size due to increased adoption of these solutions.
The solutions accounted for the largest share of the ePrescribing market, by type of product & service, in 2019.
Based on product and service, the e-prescribing market is segmented into solutions and services. The solutions segment is further categorized as integrated and standalone solutions, and the services segment is categorized as network, support and maintenance, implementation, and training and education services. In 2019, the solutions segment accounted for the largest share of the e-prescribing market. The large share of the solutions segment can be attributed to the growing focus on minimizing the abuse of controlled substances, increasing adoption of e-prescribing, government initiatives and incentive programs to increase the adoption of e-prescribing solutions.
Web and Cloud based solutions is the largest segment of the ePresciribng market, by delivery mode
Based on the mode of delivery, the e-prescribing market is segmented into on-premise and web- and cloudbased models. In 2019, the web- and cloud-based solutions segment accounted for the largest share of the global e-prescribing market. This segment is also projected to register the highest CAGR during the forecast period. The web- and cloud-based model offers improved performance and reliability by avoiding long deployment cycles. It also minimizes upfront investments without incurring high infrastructure costs as the user can access the software from any compatible system using an access ID or username and password. These advantages are supporting the growth of the web- and cloud-based solutions segment.
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North America will continue to dominate the ePrescribing market in 2025
In 2019, the large share of this North American region can be attributed to the stringent legislative and accreditation requirements regarding healthcare, high adoption of HCIT technologies, regulatory requirements regarding patient safety, and the presence of a large number of e-prescribing solution providers in the region.
Prominent players in the global e-prescribing market are Epic Systems Corporation (US), Cerner Corporation (US), Allscripts (US), NextGen Healthcare (US), athenahealth, Inc. (US), RelayHealth, LLC (US), Henry Schein, Inc. (US), GE Healthcare (US), Computer Programs and Systems Inc. (US), DrFirst, Inc. (US), Surescripts-RxHub, LLC (US), and Medical Information Technology, Inc. (US).
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Browse Adjacent Market: Healthcare IT Market Research Reports & Consulting
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Healthcare IT Market by Products & Services (Healthcare Provider Solutions, Healthcare Payer Solutions, & HCIT Outsourcing Services), Components (Services, Software,Hardware), End-User, and Region (2022 - 2026)
https://www.marketsandmarkets.com/Market-Reports/healthcare-it-252.html
Tuesday, July 19, 2022
Human Microbiome Market worth $1,370 million by 2029 - Exclusive Report by MarketsandMarkets™
The human microbiome market is projected to reach USD 1,370 million by 2029 from USD 269 million in 2023, at a CAGR of 31.1% from 2023 to 2029. according to a new report by MarketsandMarkets™. Market growth is largely driven by the increasing focus on the development of human microbiome therapy. It has also become a validated target for drug development. The growing number of collaborations between market players is also expected to offer a wide range of growth opportunities for market players during the forecast period. However, a lack of expertise and inadequate research on the human microbiome are factors expected to restrain this market's growth.
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Browse in-depth TOC on "Human Microbiome Market”
183 – Tables
27 – Figures
188 – Pages
The drugs segment to account for the largest share of the product segment in the global human microbiome market in 2023.
Based on product, the human microbiome market is segmented into probiotics, prebiotics, diagnostic tests, drugs, and other products. The drugs segment is expected to account for the largest share of the human microbiome market in 2023. The large share of this segment can be attributed to the increasing number of human microbiome-based drug products in clinical trials and rising funding to develop microbiome-based drugs.
The therapeutics segment to account for the largest share of the market in 2023.
Based on application, the human microbiome market is segmented into therapeutics and diagnostics. The therapeutics segment is expected to dominate the market in 2024. The increase in funding for R&D in microbiome-based therapies worldwide is the major factor driving the growth of this application segment. Technological advancements, the increasing number of clinical trials for the diagnostics segment, and growing collaborations between key market players and research institutes also support market growth
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The infectious diseases segment to account for the largest share of the market in 2024.
Based on disease, the human microbiome market is segmented into five categories-infectious diseases, metabolic disorders, gastrointestinal diseases, cancer, and other diseases. The infectious diseases segment is expected to account for the largest share of the global human microbiome market in 2024. The large share of this segment can be attributed to the increasing research in microbiome-based products and their use in treating infectious diseases. The major focus is on developing products targeting the microbiome modulators for infectious diseases, which accounts for 40-50 products currently in the pipeline.
The Asia Pacific region is the fastest-growing region of human microbiome research spending market from 2023 to 2029.
Based on region, the global human microbiome research spending market is segmented into four major geographies— North America, Europe, the Asia Pacific, and the Rest of the World (RoW). North America is expected to account for the largest share of the global human microbiome research spending market in 2021. In 2021, the Asia Pacific region is estimated to grow at the highest CAGR in the human microbiome research spending from 2023-2029. Factors such as increasing focus on microbiome research and initiatives taken by public and private organizations to increase awareness regarding microbiome therapeutics, are driving the growth of the human microbiome market in the Asia Pacific (APAC) region.
The major players in the human microbiome market include Enterome Bioscience (France), Seres Therapeutics (US) 4D Pharma (UK), and Ferring Pharmaceuticals (Switzerland).
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Browse Adjacent Market: Biotechnology Market Research Reports & Consulting
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