by Medical probiotics are live microorganisms that, when administrated in adequate amounts, confer a health benefit on the host by improving or restoring the gut flora balance. Probiotic supplements contain strains of beneficial microorganisms that support digestive health. Probiotic supplements are available as capsules, tablets, powder, liquid, and others. An increasing number of people worldwide are adopting probiotic supplements to maintain good gut health, boost immunity, and manage various health conditions like irritable bowel syndrome (IBS), diarrhea, and constipation. Probiotic supplements play a vital role in preventing allergies, protecting against pathogens, improving lactose intolerance symptoms, and assisting with weight management.
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, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics
Growing preference for probiotic supplements: As mentioned in the heading, a growing number of people are preferring to take probiotic supplements to support their digestive health, gut microbiota balance, and overall well-being. The rising health-conscious consumer base and increasing popularity of probiotic dietary supplements are expected to drive the growth of the medical probiotics market over the forecast period.
Recognition of gut-brain axis: Medical experts are increasingly recognizing the connection between gut health and various aspects of physical and mental well-being through the gut-brain axis. Consumers are becoming more aware that maintaining a healthy gut flora helps support brain function, mood, cognitive ability, immunity, weight management, and overall health. This is fueling the demand for probiotic supplements worldwide.
Segment Analysis
Medical Probiotics Market is dominated by the Human Probiotics sub-segment due to rising awareness and adoption of probiotic supplements for maintaining gut health and well-being. This sub-segment accounts for over 60% value share due to growing demand for supplements containing live cultures of Lactobacillus and Bifidobacterium strains that support digestion.
PEST Analysis
Political: Regulations governing dietary supplements are enabling growth. Regulatory bodies approving new probiotic strains are fueling innovation.
Economic: Increasing disposable incomes are driving demand for premium healthcare products. Investments in R&D of novel probiotic formulations are on the rise.
Social: Emphasis on preventive healthcare and proactive lifestyle changes are boosting the probiotics market space. Social media influence is raising awareness about gut-brain link and benefits of probiotics.
Technological: Advanced cell culturing techniques are facilitating identification of new probiotic strains and properties. Continuous clinical research is expanding approved functional and therapeutic claims.
Key Takeaways
The global Medical Probiotics market Share is expected to witness high growth. 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.
North America currently dominates owing to high consumer awareness and spending on digestive health. Europe and Asia Pacific are emerging markets exhibiting fastest growth due to growing middle-class population and western influence.
Key players operating in the Medical Probiotics Market are Danone, Yakult Honsha Co. Ltd., Nestle, Biogaia AB, and Lifeway Foods. There is a rising demand for probiotic supplements containing Bacillus, E. coli. and L. acidophilus strains due to increasing prevalence of lifestyle diseases like IBS, constipation etc and associated gastrointestinal issues.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
