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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