OptiBiotix Health PLC (LON:OPTI) has been recognised as a “key player” in a report on the status of the human microbiome market and its global outlook for 2020-2024.
The report from Market Study Report LLC (MSR) said over recent years the human microbiome market, which was valued at US$351.8mln in 2018, has witnessed “considerable growth on the back of rising incidences of diabetes, growing geriatric population, and continuous research and development conducted by pharmaceutical manufacturers and academia”.
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“In addition, growing sedentary lifestyle, increasing incidence of diabetes and chronic diseases globally have contributed to the growth rate of Human Microbiome market”, the report said, adding that these factors were “anticipated to provide higher momentum to the market growth” in the coming years.
The report also predicted that “increasing collaboration in the industry between market players and academia to generate data and treatment for the diseases including gut related problems which can be tackled with the help of microbiota” will facilitate the growth of the market.
In terms of product types, the report said probiotics held the highest market share in the human microbiome market owing to its “proven benefits in gut microbiota and health of the patient”.
It added that the North American market will continue to be the largest region over the next four years, driven by “favourable government reimbursement policies in addition to high healthcare awareness.
The report also highlighted countries such as India, China and Brazil as “lucrative markets” for the industry.