The Bacteriophage Therapy Market is estimated to be valued at US$ 1,280.9 Bn in 2023 and is expected to exhibit a CAGR of 3.7% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Bacteriophage therapy involves the use of bacteriophages to treat pathogenic bacterial infections. Bacteriophages are viruses that kill bacteria and are considered as alternatives to conventional antibiotics for treating multi-drug resistant bacterial infections. Bacteriophage therapy offers advantages such as high specificity, self-replication and self-limiting ability making them an efficient and safe treatment option compared to antibiotics.
Market key trends:
One of the key trends propelling the growth of the bacteriophage therapy market is the increased use of bacteriophages in healthcare facilities to treat antibiotic-resistant infections. The proliferation of antibiotic-resistant bacterial strains due to overuse of antibiotics has necessitated the development of novel alternative treatment options. Bacteriophages have emerged as effective agents against multi-drug resistant pathogenic bacteria that infect both humans as well as livestock. For example, bacteriophages have been approved for the treatment of bacterial infections in patients in countries like Poland, Georgia and Russia. Other former USSR states have also approved phage therapy which has boosted overall market growth.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderate as significant investment is required to develop new bacteriophage therapeutics. The regulatory environment is also stringent for approval of new products.
Bargaining power of buyers: The bargaining power of buyers is moderate as there are limited approved products available in the market currently. However, alternative antibiotic therapies offer competition.
Bargaining power of suppliers: The bargaining power of suppliers is low due to the presence of many suppliers in the market offering bacteriophages.
Threat of new substitutes: Threat from new substitutes like conventional antibiotics is high. However, with rising antimicrobial resistance, bacteriophage therapy is emerging as an attractive alternative.
Competitive rivalry: High due to several companies focusing on developing novel bacteriophage therapies.
SWOT Analysis
Strengths: Targeted therapy against specific bacteria, no adverse effects on human cells, multi-targeting ability against bacterial virulence genes.
Weaknesses: Narrow host range of bacteriophages, need for characterization of phages, high production cost.
Opportunities: Growing AMR concerns, expansion into new applications like biodefense, wound care & others.
Threats: Regulation and standardization challenges, resistance development in bacteria.
Key Takeaways
The global Bacteriophage Therapy Market Share size is expected to reach US$ 1,280.9 million by 2030, expanding at a CAGR of 3.7% during the forecast period. Increasing antimicrobial resistance has become a serious public health issue, driving the demand for bacteriophage therapy as an alternative approach.
The US holds the largest share of the North America bacteriophage therapy market currently owing to rising prevalence of diseases caused by multidrug-resistant bacterial infections. Availability of advanced healthcare facilities and growing investments in R&D are boosting the market in the US.
Key players operating in the bacteriophage therapy market are Armata Pharmaceuticals, Inc., Eliava Biopreparations Ltd., Pherecydes Pharma, Intralytix, Inc., Phagelux, Inc., Nextbiotics, InnoPhage, Ltd, Locus Biosciences, Inc., TechnoPhage, Eligo Bioscience SA, Phagomed Biopharma GmbH., PhagePro, Inc., Adaptive Phage Therapeutics, Enbiotix, Inc., Intodeworld, Inc., BiomX Ltd., Phi Therapeutics, Fixed-phage Ltd., Micreos BV, ContraFect Corporation, OPTIPHARM Co., Ltd. Major players are focused on advancing their product pipelines through strategic collaborations and acquisitions.
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It includes the size, share, growth, trends, key players, segments and regional analysis in detail during the study year 2020-2027.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the bacteriophage therapy market include Armata Pharmaceuticals, Inc., Eliava Biopreparations Ltd., Pherecydes Pharma, Intralytix, Inc., Phagelux Inc., Nextbiotics, InnoPhage, Ltd, Locus Biosciences, Inc., TechnoPhage, Eligo Bioscience SA, Phagomed Biopharma GmbH., PhagePro, Inc., Adaptive Phage Therapeutics, Inc., EnBiotix, Inc., Intodeworld, Inc., BiomX Ltd., Phi Therapeutics, Fixed-phage Ltd., Micreos BV, and ContraFect Corporation.
This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Bacteriophage Therapy Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/bacteriophage-therapy-market/download-sampleMarket DynamicsThe factors that are driving the global bacteriophage market are the increasing prevalence of air, water, and foodborne bacterial infection, and increasing incidences of antibiotic resistance.
This factor is supporting the global market.
Moreover, extensive R & D on bacteriophage therapy by private as well as government sectors is further fuelling the global market.
During the COVID-19 pandemic, the bacteriophage therapy market is likely to expand as the entire global focus is on the development of new treatment therapies for infections.The report covers Porter’s Five Forces Model, Market Attractiveness Analysis and Value Chain analysis.
