Bacteriophages Therapy Market: Introduction
- Bacteriophage therapy is also called phage therapy. It uses viruses for the treatment of bacterial infections. Bacterial viruses are known as bacteriophages or phages. They attack bacteria; phages are harmless to plants, animals, and people. Bacteriophages are considered to be natural enemies of bacteria. Bacteriophages are found in sewage, water, soil, and others places where bacteria are found.
- Phage therapy is broadly being reconsidered as an alternative to antibiotics. Henceforth, phage therapy is the therapeutic use of lytic bacteriophages for treating pathogenic bacterial infections.
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Key Drivers of Global Bacteriophages Therapy Market
- There is an increase in prevalence of foodborne diseases that are caused due to food spoilage. Spoiled food contains pathogenic bacteria and viruses. According to the WHO, in 2019, around 600 million people (almost 1 in 10 people in the world) fall ill after eating contaminated food and 420,000 die every year, resulting in the loss of 33 million healthy life years (DALYs). Moreover, children under the age of 5 years carry 40% of foodborne disease burden, with 125,000 deaths every year. This factor is boosting the growth of the bacteriophages therapy market.
- Bacteriophages are highly specific to target bacteria. Its usage is targeted toward a specific bacterial species and significantly minimizes off-target effects on microbiome or human patient, as bacteriophages do not directly affect human cells.
- Extensive research and developmental activities being carried out in the bacteriophages therapy market are fueling the growth of the bacteriophages therapy market. For instance, in January 2019, the U.S. Food and Drug Administration accepted an Investigational New Drug application by physician-scientists at the University of California San Diego School of Medicine for conducting the first U.S. clinical trial of an intravenously administered bacteriophage-based therapy. The planned trial was decided to be conducted in collaboration with AmpliPhi Biosciences Corporation, a San Diego-based biotechnology company.
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Key Restraints of Global Bacteriophages Therapy Market
- High cost of bacteriophages therapy is one of the prime factors restraining the growth of the global bacteriophage therapy market. Expensive clinical testing and high risk of product failure for drug development are factors restraining market growth.
- Physicians need special training to correctly prescribe and use phages. Thus, lack of skilled professionals can hamper the growth of the bacteriophages therapy market.
Strategic Developments and Emerging Economies to Offer Attractive Opportunities
- Companies operating in the bacteriophages therapy market are focusing on meeting the needs of medical communities and patient population by developing novel therapies. Several players are also investing in developing advanced bacteriophage platforms.
- In June 2016, EnBiotix, Inc., a product-focused bioengineering company, announced collaboration with the Mayo Foundation for Medical Education and Research (MFMER)to continue he development of the company’s drug candidate, EPP-001, an engineered bacteriophage product to deliver biofilm dispersing enzymes to treat Staphylococcus aureus (S. aureus) infections in prosthetic joints.
- Emerging economies provide lucrative opportunities in the bacteriophage therapy market, as there is an increase in the number of patient population and initiatives by governments in the health care sector
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North America to Hold a Major Share of Global Bacteriophages Therapy Market
- North America is expected to hold a major share of the global bacteriophages therapy market due to increasing prevalence of foodborne and other infectious diseases. For instance, the CDC estimated that around 48 million people fall sick, 128,000 are hospitalized, and 3,000 die from foodborne diseases each year in the U.S.
- The bacteriophages therapy market in Asia Pacific is expected to grow at a rapid pace during the forecast period due to rise in patient population, initiatives by governments in the health care sector, and interest of key players in expanding their market presence in the Asia Pacific region
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The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
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