Global phage therapy market is expected to foresee a compound annual growth rate of 8.1% from 2021 to 2028.
The major factors driving the growth of the phage therapy market are antibiotics resistance, the increased prevalence of food-borne diseases, use of phage therapy in the food & beverage industry, application of bacteriophage specific to target bacteria, extensive research & development, and increasing antimicrobial resistance. Nowadays antibiotics resistance has become one of the biggest threats to global health as it can affect people of any age group. Misuse and overuse of antibiotics by people is leading to antibiotic resistance. Hence, scientists across the globe are expecting that the traditional use of antibiotics would be replaced by modernized bacteriophages or phage therapies. Also, few people are allergic to antibiotics as a result phage therapy could be a useful alternative for such patients.
Phage therapy also known as Bacteriophage is specific to the bacteria they infect and do not harm other beneficial bacteria present in the body and affect the microbial ecosystem of the body. Bacteriophages can be administrated to patients in many different ways which include oral consumption, external application, and surgical treatment. Phages consist mostly of nucleic acids and proteins thus they are inherently non-toxins. Bacteriophages against many bacteria are easily discovered and additionally, they are versatile in terms of formulation development which includes the ability to get combined with any other antibiotics. Furthermore, the production of phage therapy is simple and relatively inexpensive. Clinical trials of bacteriophage to cure diseases such as HIV Infection, Wound Infections, Urinary Tract Infection Bacterial, Acute Tonsillitis, Venous Leg Ulcers, Covid19, Tuberculosis, Cystic Fibrosis, Mild Gastrointestinal, Primary Immune Deficiency Diseases, Bacterial Infections, Prostate Cancer and many others are being conducted in future, bacteriophage therapy could replace antibiotic treatments of these diseases. Bacteriophages therapies are still under clinical trials and company pipelines, hence it cannot be claimed to be entirely reliable. In addition, bacteriophages are viruses that tend to swap genes with each other and other organisms with which they come into contact. Hence, there is a chance of the spread of antibiotic resistance in bacteria. These are some of the factors that would slightly slow down the acceptance in the phage therapy market.
Bacteriophage plays a significant role in the food industry due to the increased prevalence of food-borne diseases that are caused due to food spoilage and this is boosting the growth of the bacteriophage market, as spoiled food contains pathogenic bacteria and viruses. The interest in characteristic antimicrobial builds has expanded because of changes in shopper positions towards the utilization of substance additives in staple and food handling surfaces. Bacteriophages fit in the class of characteristic antimicrobial and their adequacy in controlling bacterial microbes in the agro-food industry has prompted the advancement of various phage items previously endorsed by USFDA and USDA.
Bacteriophages are highly specific to target bacteria and bacteriophages do not affect human cells directly. The primary bit of scope is the explicitness of bacteriophages and medicines that can be intended to explicitly target pathogenic microorganisms while not adversely influencing the ordinary microbiota. Another possible issue with phage treatment incorporates the improvement of resistance and constraints with the enrolment of phage treatment alternatives. Increased antimicrobial resistance in bacteriophage therapy is driving the global bacteriophage therapy market growth. For instance, in 2017, the World Health Organization (WHO) published a list of global priority pathogens comprising 12 species of bacteria categorized into critical, high, and medium priority based on their level of resistance. It is believed that bacteriophage therapy would be replacing the traditional use of antibiotics as extensive use of antibiotics is increasing the risk of antimicrobial resistance.
The major limiting component for the development/extension of the worldwide phage therapy market is the absence of prepared technicians, experts, and specialists in the field. In addition, the high risk of product failure for drug development is another factor restraining the market growth. Several companies operating in the bacteriophage therapy market are investing and focusing on developing advanced bacteriophage platforms. In addition, the emerging economy is providing booming opportunities in the global bacteriophage market, as there has been an increase in the patient population in the health care sector. For instance, Armata Pharmaceuticals, Inc. Adaptive Phage Therapeutics, Phagelux, SNIPR BIOME, Microgen Russia, BiomX (MBcure Ltd.), Enbiotix, Eligo Bioscience, MicroPhage Inc., Phage International, Intralytix, Inc, InnoPhage, iNtODEWorld, Locus Biosciences among others are the leading players in the global bacteriophage market.
North America holds a substantial share in the global phage therapy market, inferable from the increment in bacteriophage clinical path. For example, as per UC San Diego Health 2019 investigation, the U.S. Food and Drug Administration (USFDA) has given leeway for the clinical path in the U.S. to test IV directed bacteriophage-based treatment to execute drug opposition.
The global phage therapy market is segmented into: by bacteria, by product, by application, and geography Geographically, North America is anticipated to have the largest market share over the next seven years and the growth is attributed to the early adoption of new and emerging technologies coupled with expanding volumes of data. However, Asia Pacific is expected to witness the highest compound annual growth rate (CAGR) in the Phage Therapy market. The major geographies covered under the scope of Global Phage Therapy are North America, Asia Pacific, Europe, and the Rest of the Global (RoW). North America is further segmented into the U.S., Mexico, and Canada. Europe is segmented into the UK, Germany, France, Italy, Spain, and the Rest of Europe. The key countries covered under the Asia Pacific are Japan, China, India, South Korea, Australia, and the Rest of the Asia Pacific. Similarly, the Rest of the World (RoW) is bifurcated into South & Central America, Middle East, and Africa.
Armata Pharmaceuticals, Inc. Adaptive Phage Therapeutics, Phagelux, SNIPR BIOME, Microgen Russia, BiomX (MBcure Ltd.), Enbiotix, Eligo Bioscience, MicroPhage Inc., Phage International, Intralytix, Inc, InnoPhage, iNtODEWorld, Locus Biosciences, PhagoMed Biopharma GmbH, Pherecydes Pharma SA, TechnoPhage, Eliava Biopreparations Ltd., Nextbiotics, PhagePro, Inc, Phi Therapeutics, Fixed-phage Ltd, Micreos BV and ContraFect Corporation are the prominent players of the global bacteriophages market.
Years Covered in the Report: 2019 - 2028
Base Year: 2020
Forecast Years: 2021 - 2028
Scope of Global Phage Therapy Market/ Bacteriophage Market
The market is segmented on the basis of by Bacteria, Product, by Application, and by Region.
Market Segmentation by Bacteria (Revenue, USD Million, 2019 - 2028)
Market Segmentation by Product (Revenue, USD Million, 2019 - 2028)
Market Segmentation by Application (Revenue, USD Million, 2019 - 2028)
Market Segmentation by Region/ Geography/ Country (Revenue, USD Million, 2019 - 2028)
Rest of the World (RoW)