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Ottawa, July 18, 2022 (GLOBE NEWSWIRE) — The global microbial products market size was estimated at USD 199.1 billion in 20212. Products produced from diverse microscopic organisms are known as microbial products. Fungi, yeast, bacteria, and other species of the same kind are examples of microbes, which are microscopic living organisms. They are used to make things like vinegar, wine, cheese, bread, and other things.
These microbial products are used in fermentation methods to make chemotherapeutic medications, antibiotics, amino acids, organic acids, vitamins, and vaccines for use in the pharmaceutical industry. Enzymes, polysaccharides, nutrients, chemotherapeutic agents, antibiotics, and vaccines are some of the different categories that they fall under based on the product. Hence, it has greatest importance in the pharmaceutical sector.
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Regional Snapshots
North America held dominant position and predicted to be in the dominating state during forecast period due to technological developments and increased industrial expenditure in research and development. The expansion of the microbial products market in North America would be aided by the rising importance of microbe-based clinical products and the rising prevalence of new infectious illnesses. Moreover, consumer inclination towards microbial products is driving the market in this region owing to the benefits of such products. This region has highest share of microbial products owning to rise in demands of vaccines to amino acids.
Scope of the Report
| Report Attributes | Details |
| Market Size in 2021 | USD 189 Billion |
| Revenue Forecast by 2030 | USD 302 Billion |
| CAGR | 5.35% from 2022 to 2030 |
| Largest Market | North America |
Full story available on Benzinga.com
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