Microbial Products Market Size, Share, Growth, Trends, and Global Industry Analysis: By Type (Enzymes, Polysaccharides, Nutrients, Chemotherapeutic Agents, Antibiotics, Others), By Source (Bacterial, Viral, Fungi, Others), By Application (Pharmaceutical, Diagnostic, Biotechnology, Others), By End User (Pharmaceutical and Biotechnological Industries, Hospitals and Clinics, Diagnostic Labs, Research and Academics, Others) and Region

Microbial Products Market size was valued at US$ 190.2 billion in 2022 and is expected to reach a value of US$ 343.3 billion by 2029, growing at a CAGR of 8.8% from 2023 to 2029. The global market provides a detailed overview and that can be segmented by type, source, application, and end-user. By type, the microbial product market has been segmented into enzymes, polysaccharides, nutrients, chemotherapeutic agents, antibiotics, and others. The enzymes segment is likely to be the largest and fastest-growing segment in terms of type. Further, nutrients are further segmented into amino acids, nucleotides, vitamins, organic acids, and others. Based on the source, the microbial products market is segmented into bacterial, viral, fungi and others. Among these, the bacterial segment is expected to have the fastest-growing market during the forecast period 2023-2029. Based on end user, the market is segmented into pharmaceutical and biotechnological industries, hospitals and clinics, diagnostic labs, research and academics and others. The pharmaceutical and biotechnological industries segment accounts for the largest share in 2022. The hospitals and clinics segment has the second-largest share during the forecast period 2023-2029.

Microbial Products Market Key Developments:

• In April 2020, Sumitomo Chemicals invested US$ 30 million in a joint venture with Conagen, a US-based biotechnology company.