Press release
Microbial Therapeutic Products Market is predicted to be worth US$ 17.11 Billion in 2022
Over the years, the burden of antimicrobial resistance (AMR) has been escalating tremendously, besides prevalence of chronic conditions. The World Health Organization observes high resistance rates have been observed against antimicrobials used for treating urinary tract infections and certain types of diarrhea. For example, the rate of resistance to ciprofloxacin ranged anywhere between 8.4% and 93% across 33 countries. It is apprehended that this burden is compounding further due to the COVID-19 pandemic. Hence, efforts are underway to accelerate research for discovering breakthroughs in microbial therapeutics.
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Key Takeaways
By product, anti-cancer agents to capture nearly 30% revenue by 2020-end, owing to prolific research breakthroughs
By route of administration, injection pens to account for 2 out of 5 sales, attributed to patient hygiene concerns
By source, bacteria based microbial therapeutic products to remain preferred
Oncology to remain primary microbial therapeutic products application area, expanding at Y-o-Y rate exceeding 5% through 2020
Hospitals emerge as the primary microbial therapeutic end-users, attributed to availability of adequate infrastructure
North America to remain the market hegemon, East Asia to be fastest growing market
"Prominent manufacturers are seeking regulatory approvals to accelerate research and development operations for developing effective drug solutions to address the compounding antimicrobial resistance problems," remarks the FMI analyst.
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COVID-19 Impact Analysis
The COVID-19 pandemic has adversely impact global economic outlook, with a prolonged recession on the cards across numerous industries. However, the microbial therapeutic products market has only stood to benefit from the pandemic crisis, as the global healthcare community accelerates efforts to find a potential cure for this deadly virus.
With inoculation procedures already being initiated across the U.K., it is only a matter of time before the anti-COVID-19 vaccine is available on a global scale. Despite this availability, healthcare providers will have a long road ahead with respect to discovering an orally administered drug formulation.
Therefore, governments are lending unconditional support to the global healthcare fraternity in terms of policy relaxation and disbursement of financial grants to aid in the research and development process, catapulting growth prospects.
Competitive Landscape
Prominent players operating in the global microbial therapeutic products market are emphasizing on acquiring regulatory approvals, forging partnerships and collaborations with competent authorities and biosimilars develop to capture substantial revenue shares across key regions.
Some reputed players operating within the global microbial therapeutic products landscape include Dr. Reddy's Laboratories, Pfizer Inc., Sanofi SA, Merck & Co. Inc., Novartis AG, Novo Nordisk A/S, Abbott Laboratories and Amgen Inc. to name a few.
In November 2020, Dr. Reddy's Laboratories announced a definitive agreement with Glenmark Pharmaceuticals Ltd. to acquire its anti-allergy brands Momat Rino, Momat Rino Advance and Momat A to market them across Russia, Kazakhstan and Uzbekistan respectively.
In December 2020, Novo Nordisk announced the acquisition of Emisphere Technologies to exercise ownership of its Eligen SNAC oral delivery technology. The acquisition shall accelerate its GLP-1 receptor agonist seaglutide's production on a larger scale.
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More Valuable Insights on FMI's Microbial Therapeutic Products Market
Future Market Insights, in its new report, offers an unbiased analysis of the global microbial therapeutic products market, analyzing historical demand from 2015-2019 and forecast statistics for 2020-2030. The study reveals growth projections on the microbial therapeutic products market on the basis of product (growth factors, anti-cancer agents, immunosuppressants, enzymes & others), route of administration (single use pre-filled injection/injection pen, multi-use injectors & others), source (bacteria & fungi), application (metabolic disorders, haematological disorders, oncology, immunological disorders, infectious diseases, allergic diseases & others) and end-user (hospitals, pharmaceuticals & biopharmaceutical companies and research & academic institutions) across seven prominent regions.
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