May 26, 2024
Medical Probiotics Market

The Rising Awareness About Probiotic Health Benefits Is Driving The Medical Probiotics Market

Medical probiotics are live microorganisms that provide health benefits beyond basic nutrition when consumed in adequate amounts. Probiotics are commonly found in yogurts, kefir, kimchi, miso, and other fermented foods. They contain beneficial bacteria like Lactobacillus and Bifidobacterium to help regulate the gut microbiome. Probiotics are gaining importance in medical therapy due to their positive impacts on digestion, immune function, and overall wellness. An imbalance in the gut microbiota has been linked to various health conditions like IBS, ulcerative colitis, respiratory illness, and childhood diseases. The utilization of probiotic supplements is increasing as a preventive strategy for restoring gut microbial balance and treating chronic diseases.

The global Medical Probiotics Market is estimated to be valued at US$ 72 Billion in 2023 and is expected to exhibit a CAGR of 19%  over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends

One of the major trends driving the medical probiotics market growth is the increasing adoption of precision probiotics. Traditional probiotic supplements contain a mixture of bacterial strains without consideration of an individual’s health condition or microbiome profile. In contrast, precision probiotics are tailored formulations designed to target specific illnesses based on genomic sequencing of gut bacteria. They offer personalized solutions and have greater clinical effectiveness. Rapid advances in microbiome research have enabled targeting delivery of specific probiotic strains for optimal therapeutic effects. This emerging trend is expected to transform the medical use of probiotics over the coming years.

Porter’s Analysis

Threat of new entrants: Low barriers to entry in terms of technology and capital requirements give the edge to new startups. However, strong customer loyalty towards established brands pose a challenge.

Bargaining power of buyers: Buyers have high bargaining power with the availability of various product options from different brands. This enables them to compare prices.

Bargaining power of suppliers: Suppliers have moderate bargaining power due to the availability of alternative raw material sources and substitutes. However, branding plays a vital role for suppliers.

Threat of new substitutes: Low threat as probiotics offer unique health benefits that are hard to replicate. Alternative treatments require higher investments.

Competitive rivalry: Intense as the major players compete on the basis of pricing, innovation, quality, and branding.

Key Takeaways

The global Medical Probiotics market Share is expected to witness high growth over the forecast period of 2023 to 2030. The global medical probiotics market is estimated to be valued at US$ 60 Billion in 2023 and is expected to exhibit a CAGR of 19%  over the forecast period 2023 to 2030.

Regional analysis: North America dominates the market currently owing to the increasing incidence of lifestyle diseases. Asia Pacific is expected to grow at the fastest pace during the forecast period on account of the rapidly developing economy and growing healthcare infrastructure in countries such as China and India.

Key players: Key players operating in the Medical Probiotics market are BioGaia AB, Probi AB, i-Health, Inc., Winclove Probiotics, UAS Labs, among others. These players are focusing on new product launches, collaborations, and regional expansion to gain a competitive edge in the market.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it