Growth Drivers
Challenges
Regionally, the global human microbiome market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in North America is projected to garner the largest revenue of USD 1859.8 Million by the end of 2031, up from a revenue of USD 251.6 Million in the year 2021. The growth of the market in the region can primarily be attributed to the growing expenditure on research and developments (R&D) in the region, presence of a strong healthcare network, along with the surge in initiatives of the governments of the region for promoting research on human health. Besides this, the surge in health expenditure is also expected to add to the market growth in the region during the forecast period. According to the statistics by the World Bank, the current health expenditure as a share of GDP in North America grew from 12.197% in the year 2000 to 16.322% in the year 2019. On the other hand, the market in Europe is projected to register the second-largest revenue of USD 702.3 Million by the end of 2031, up from a revenue of USD 92.9 Million in the year 2021. The market in the region is further segmented by country into Germany, United Kingdom, France, Italy, Spain, Russia, and the Rest of Europe. The market in Germany is projected to garner the largest revenue of USD 169.3 Million by the end of 2031, up from a revenue of USD 21.6 Million in the year 2021.
The study further incorporates Y-O-Y Growth, market opportunities, demand & supply and forecast future opportunity in North America (United States, Canada, Mexico), South America, Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX [Belgium, Netherlands, Luxembourg], NORDIC [Norway, Denmark, Sweden, Finland], Poland, Russia, Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa).
Base Year |
2024 |
Forecast Year |
2025-2037 |
CAGR |
32.2% |
Base Year Market Size (2024) |
USD 445.92 million |
Forecast Year Market Size (2037) |
USD 11.73 billion |
Regional Scope |
|
Author Credits: Radhika Pawar
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