Global human microbiome is expected to have a significant impact on diagnosis and treatment of human diseases. The global human microbiome market is expected to reach $750 million by the end of 2023. The increasing lifestyle disease is one of the key factors driving the growth in global human microbiome market. Moreover, North America held the largest market share of 38% in 2016 in the global market. Growth in North America market is mainly influenced by the rising demand for efficient and safe medication with no side effects.
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Rapid Growth in Emerging Countries
Rapid change in lifestyle resulting in growing prevalence of lifestyle-oriented diseases is influencing the growth in emerging countries. Cancer is the one of the major diseases and the overall incidence of cancer in the Asia Pacific region is approximately 300,000 new cases per year, which is more than half of the total cases globally. China and India are key emerging nations across the globe. China is the biggest influencer of growth in Asia Pacific. It is estimated that there are chances of 4.3 million new cancer cases to be diagnosed by 2020 which was around 2.8 million in 2015. Cancer is the key factor for high mortality rate in China. It is accounted at that there are nearly 4,292,000 newly diagnosed reported cancer cases in 2015 in China, corresponding to an average of almost 12,000 new cancer diagnoses each day. Moreover, in India growth is mainly influenced by the increasing lifestyle-oriented diseases. In India about 30% of the younger people are infected or suffering from infections. It is estimated that one of the four Indians is suffering from non-communicable diseases such as cancer or cardio-vascular ailments, and diabetes before the age of 70. It is estimated that every year approximately 5.8 million Indians die from heart and stroke, cancer, diabetes, and lung diseases. Although, tuberculosis remains a major public health issue, specifically in India, nearly 5, 00,000 deaths annually are reported due to tuberculosis disease.
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Biotech companies across the globe are adopting various strategic initiatives such as acquisition, product launch, partnership, etc. to sustain in the competitive market. Vedanta biosciences is one of the key players in the global human microbiome market with capability to manufacture and research on live bacterial consortia. The European patent is an important addition to the global intellectual property portfolio of Vedanta biosciences. Increase in the adoption of human microbiome and rising awareness about it as an effective treatment technique among the customers is expected to add meaningfully to the market growth.
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