The global Microbial Fermentation Technology Market was valued at USD 19.08 billion in 2022 and is projected to reach USD 32.1 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 6% during the forecast period. One of the key drivers for the growth of the global microbial fermentation technology market is the increasing demand for antibiotics.
The demand for antibiotics is being fueled by the rising prevalence of infectious diseases like tuberculosis, pneumonia, and urinary tract infections. Microbial fermentation technology plays a crucial role in the production of antibiotics such as penicillin, streptomycin, and erythromycin. Additionally, the demand for microbial fermentation technology is also driven by the growing need for industrial enzymes used in various applications, including food processing, detergents, and biofuels.
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Key players in the Microbial Fermentation Technology Market:
- Thermo Fisher Scientific Inc.
- Danaher Corporation
- GE Healthcare
- Merck KGaA
- Sartorius AG
- Eppendorf AG
- Pall Corporation
- Fujifilm Holdings Corporation
- Becton
- Dickinson and Company
- Bio-Rad Laboratories, Inc.
- 3M Company
Another factor contributing to the expansion of the market is the increasing demand for biopharmaceuticals. Biopharmaceutical drugs are manufactured using living cells, and microbial fermentation technology is a vital process in their production. The demand for biologics, which are produced using microbial fermentation technology, has seen significant growth due to the rising prevalence of chronic diseases such as cancer, diabetes, and heart disease. Furthermore, the advancements in gene therapy and personalized medicine are also driving the demand for microbial fermentation technology in the biopharmaceutical industry.
Segments Covered in the Report –
By Product Type Outlook -
- Bacterial
- Yeast
- Fungal
- Algal
- Others
By Application Outlook -
- Food Beverages
- Pharmaceuticals
- Agriculture
- Industrial Chemicals
- Others
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Strategic development:
- Merck KGaA made an announcement in 2021 regarding their agreement to acquire AmpTec, a biotech company based in Germany that focuses on RNA and mRNA synthesis. This acquisition aimed to bolster Merck's capabilities in the manufacturing of mRNA-based therapeutics and vaccines, which rely on the utilization of microbial fermentation technology.
- In 2020, Sartorius AG revealed their acquisition of a majority stake in Biological Industries, an Israeli company specializing in the development and production of cell culture media and reagents. This strategic move aimed to expand Sartorius' range of products and services for the biopharmaceutical industry, which heavily relies on the use of microbial fermentation technology.
- In 2020, GE Healthcare made an announcement of their acquisition of Puridify, a biotech company based in the UK that specializes in the advancement of purification technologies for the production of biologics. This acquisition was intended to enhance GE Healthcare's capabilities in downstream processing, a crucial stage in microbial fermentation technology.
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