Bacteriophage therapy or phage therapy is an innovative alternative antimicrobial to treat bacterial infections by using bacteriophages that can infect and destroy only specific bacterial strains without harming human cells. It offers several advantages over conventional antibiotics such as narrow host range allowing targeted killing of disease-causing bacteria without impacting beneficial gut flora. Growing antibiotic resistance and need for safer antimicrobial options have propelled research and adoption of bacteriophage therapy.
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 12% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increasing adoption of alternative antimicrobial therapies like bacteriophage therapy is one of the key trends driving the growth of global bacteriophage therapy market. With rising cases of antibiotic-resistant infections, there is growing need for new treatment options. Bacteriophage therapy is emerging as a viable and safer alternative to conventional antibiotics due to its ability to precisely target bacterial strains without harming human cells. Moreover, bacteriophages have a low potential to induce resistance in bacteria. Extensive research is underway to expand therapeutic applications of bacteriophage therapy and gain regulatory approvals. This is expected to support the market growth over the forecast period.
SWOT Analysis
Strength: Bacteriophage therapy is natural and selective treatment that only targets harmful bacteria without harming beneficial gut flora. It reduces antibiotic resistance as bacteriophages are living organisms and keep evolving against bacterial resistance.
Weakness: Limited research and regulatory approvals for bacteriophage therapy. Clinical studies are needed to evaluate effectiveness, safety and optimal dosage for treatment of different diseases. Storage and transportation of phage cocktails is challenging due to their perishable nature.
Opportunity: Rising cases of antibiotic resistance provide huge market opportunity for bacteriophage therapy as an alternative to conventional antibiotics. Growing awareness about advantages of bacteriophage therapy compared to antibiotics.
Threats: Stringent regulatory norms can delay product approvals. Substantial R&D investments required for development of therapeutic phage cocktails. Competition from conventional antibiotics especially for non-life threatening infections.
Key Takeaways
The global Bacteriophage Therapy Market Analysis is expected to witness high over the forecast period of 2023 to 2030. 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 12% over the forecast period 2023 to 2030.
North America region currently dominates the market due to strong government support for research activities in the field and presence of major phage therapy companies. The European region is also expanding rapidly due to increasing initiatives to develop alternative treatments for antibiotic resistant infections.
Key players operating in the bacteriophage therapy market are Agrana Group, Archer Daniels Midland Company, Bunge Ltd., Cargill Incorporated, Commodity Specialists Company, Grain Processing Corporation, Ingredion Incorporated, Tate & Lyle Plc., Tereos Syral, and The Roquette Group. These key players are focusing on partnerships, new product launches and geographic expansions to strengthen their market position. For instance, Eliava Biopharma collaborated with Phage International to advance clinical development of phage therapy candidates.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
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