Bacteriophage therapy utilizes viruses that infect bacteria,
known as bacteriophages or phages, to treat bacterial infections as an
alternative to traditional antibiotics. Bacteriophages have shown promise in
treating various infections as they can target specific strains of bacteria
without harming surrounding tissues or beneficial gut flora. The demand for
bacteriophage therapy has grown in recent years due to the rise of
antibiotic-resistant "superbugs" and need for novel treatment
options.
The global Bacteriophage Therapy Market is estimated to be
valued at US$ 1280.9 Mn in 2023 and is expected to exhibit a CAGR of 8.6% over the forecast period
2023 to 2030, as highlighted in a new report published by Coherent Market
Insights.
Market key trends:
The use of bacteriophages to fight bacterial infections has accelerated in
the past few years due to increased research demonstrating their efficacy.
Clinical trials have shown bacteriophages to successfully treat various
infections like pneumonia, burns infections, gastroenteritis, and others when
administered topically or orally. As antibiotic resistance continues to rise
globally, bacteriophage therapy is gaining more attention from healthcare
practitioners and investors. Many biotechnology companies are focusing on
further research and commercialization of phage-based products and therapies
which is expected to drive the growth of this alternative treatment market over
the forecast period.
Segment Analysis
The global bacteriophage therapy market is segmented based on product type,
application, end-user, and geography. By product type, the market is divided
into lysogenic bacteriophage and lytic bacteriophage. Within these, lytic
bacteriophage dominates the segment since it helps in getting rid of harmful
bacteria by bursting open of the bacterial cell wall and letting new phage
particles infect other nearby bacterial cells.
By application, the market is classified into diagnostic, antibiotic resistant,
and others. The antibiotic resistant segment currently dominates the market as
bacteriophage therapy is evolving as an alternative to conventional antibiotics
for treating antibiotic-resistant infections.
Key Takeaways
The
global
bacteriophage therapy market analysis is expected to witness high
growth over the forecast period owing to the rising prevalence of antibiotic
resistance. The global Bacteriophage Therapy Market is estimated to be valued
at US$ 1280.9 Mn in 2023 and is expected to exhibit a CAGR of 8.6% over the
forecast period 2023 to 2030.
North America accounts for the largest share in the global
bacteriophage therapy market due to growing awareness about antibiotic
resistance, rising R&D investments from key players in this region, and
surge in new product launches. Moreover, advancements in phage therapy and
presence of major market players in the US and Canada are contributing to the large
share of North America.
Key players: Key players operating in the bacteriophage therapy market are
Phage International, Adaptive Phage Therapeutics, AmpliPhi Biosciences, Pioneer
Phage, EnBiotix, and Pherecydes Pharma.
Phage International is one of the leading players in developing phage
therapeutics. The company is conducting various research activities and
clinical trials to evaluate the efficacy of bacteriophage therapy. Adaptive
Phage Therapeutics is focusing on developing phage cocktails to treat various
antibiotic-resistant bacterial infections.
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