The global microbial fermentation technology market size is anticipated to be worth USD 32.74 billion in 2022 and is expected to rise to USD 58.25 billion by 2032, growing at a strong CAGR of 5.93 percent during the forecast period from 2023 To 2032.
The global market of microbial fermentation technology market is growing due to the rising demand of vaccines, enzymes, antibiotics, and monoclonal antibodies and the increasing trend toward the manufacturing and production of biosimilars and small molecules. Additionally, the increase in the demand from the food industry for fermented food is expanding the growth of the market.
Microbial Fermentation Technology Market Report Scope:
| Report Coverage | Details |
| Market Revenue in 2023 | USD 34.68 Billion |
| Projected Forecast Revenue in 2032 | USD 58.25 Billion |
| Growth Rate from 2023 to 2032 | CAGR of 5.93% |
| Largest Market | North America |
| Base Year | 2022 |
| Forecast Period | 2023 to 2032 |
| Regions Covered | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Market Dynamics:
Drivers:
Increasing research and development
Microbial fermentation technology has wide applications in clinical, food and pharmaceuticals for making of antibiotics, vaccines, and fermented food items. The overall research in all these areas is growing with a rapid pace, especially post the pandemic. There was a sudden increased need for innovative research in making vaccines and drugs post covid. Additionally to that, the growing number of infections, chronic diseases, and rare diseases demands for the research of new drugs and medicines. Overall, increased clinical trials, production of small biomolecules, and biologics simultaneously shows the growth in research and development demanding the growth of the microbial fermentation technology market.
Restraints:
High costing due to research and development
Most of the experimentation, raw materials, equipment, and technology used in pharmaceutical and biopharmaceutical research generally cost a lot of funds. Economic, political, and social factors all play a role in the high cost of these biological techniques, particularly fermentation. Most of the time, the technology for microbial fermentation is still very conventional. Due to the eventual cost increase, many pharmaceutical companies primarily contract out these processes to CROs and CDMOs. Therefore, the high cost of microbial fermentation technology in the development and research of novel therapeutics may be a significant barrier to the market's growth.
Opportunity:
Increase in consumption of fermented food
Food that has undergone fermentation is now more frequently consumed because of the improved health benefits it provides. Additionally, the consumption of fermented beverages, particularly beer and wine, has fuelled the growth of the fermented food industry. Additionally, fermented dairy products, probiotics, and traditional fermented food have increased. There are many applications for the microbial fermentation technology in the food industry. Therefore, the growing popularity of fermented foods will present a significant growth opportunity for the market for microbial fermentation.
Application Insights:
Based on the application segment, the Microbial Fermentation market is fragmented into antibiotics, vaccines, and others. The antibiotics segment is expected to grow in the forecasted period. The growth of this segment is attributed to major funding and investments in research and development activities by pharmaceutical companies. Additionally, rise in the prevalence of infections and an increase in the consumption of antibiotics by developed and low-middle income countries due to improvements in the lifestyle and affordability for care. Furthermore, as most of the antibiotics market increases due to an increase in infectious diseases, the pandemic shows the rise in infections simultaneously acting as a major driver for the market’s growth. Besides that, due to the increase in the development of antibiotic resistance acts as a hindrance in the market’s growth although the alternative novel therapies have increased that simultaneously expands the market.
Furthermore, microbial fermentation technology is employed in large-scale production of antibiotics as microbial fermentation assures the costs, quality guarantee, production volume especially with the drugs that are produced in bulk. Additionally, for majority of the antibiotics and drugs, microbial fermentation technology method is the only feasible method as the other methods are more complex and expensive. For example, In the study mentioned by National library of medicine, the chemical synthesis was applied for making glycopeptide teicoplanin antibiotic and it turned out very expensive and the microbial fermentation remained the only process in producing the valuable antibiotics. Therefore, as the demand for the antibiotic production increases, there will be an increase in the growth of microbial fermentation market.
End-User Insights:
Based on the end-user segment, the microbial fermentation market is fragmented into pharmaceuticals, biopharmaceuticals, and food industry. The pharmaceutical segment is expected to grow in the forecasted period. There are wide listed factors that drive the market of the pharmaceutical industry, like increased research and development, consumer demand, increased infections and chronic diseases, government regulations and its focus, increase in consumption of speciality medicines. Additional to that, the advancements in the new emerging technologies in bioprocessing and high value demand for the biopharmaceutical products such as enzymes, vaccines, antibiotics, monoclonal antibiotics.
Furthermore, microbial fermentation continues to evolve and currently is the preferred production method in pharmaceutical industries for producing therapeutic biopharmaceutical products with optimal economic route and short production processes. Additionally, microbial fermentation technology in pharmaceuticals offers easy scale-up and few complications for the large production of specific drugs, the associated process of microbial fermentation open new possibilities for DNA plasmids, conjugates, and gene-editing, altogether used for modern vaccine production. Additionally, the increased progress in molecular and synthetic biology in pharmaceutical company is also driving the market for microbial fermentation. Apart from that, the microbial fermentation in pharmaceuticals has a major hand in production of chronic diseases drugs, for instance, hormonal disorder therapy, anti-infectious disease antibiotics and vaccines, anti-cancer cytotoxic drugs and vaccines, and many other indications. As a result, pharmaceutical companies are the major end users thus driving the growth of microbial fermentation technology.
Regional Insights:
By region, the North America is expected to dominate the market in the forecasted period. The factors driving the growth of the market is the growing engagement of companies in research and development, and increase in the contract development organizations.
Additionally, the U.S FDA keeps on attempting in improving the guidelines with regards to development, promotion, approval, legal practices, and acceptance for biopharmaceutical products and it has strong regulatory framework. U.S is the main contributor in North America, as it has highly innovative manufacturing technologies for GMP.
Recent Developments:
Major Key Players:
Market Segmentation:
By Application
By End-User
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