Bacteriophage Therapy Market Is Expected To Be Flourished By Growing Adoption Of Bacteriophage Therapy To Treat Bacterial Infections

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Bacteriophage therapy involves the use of bacteriophages to treat pathogenic bacterial infections. It is an alternative treatment to conventional antibiotics and gaining traction due to increasing antibiotic resistance. Bacteriophages or phages are viruses that infect and replicate within bacteria by hijacking the bacterial machinery. They have a high specificity for their bacterial hosts and leave other cells unharmed. The global bacteriophage therapy market consists of products such as preclinical and clinical research services, lyophilized products, freeze-dried products, and liquid products targeted to treat various bacterial infections including Staphylococcus, Pseudomonas, Streptococcus, and Escherichia coli. The market is also witnessing clinical trials for several other bacterial indications in healthcare and food industries.

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 Dynamics:
Growing adoption of bacteriophage therapy to treat bacterial infections is expected to drive the bacteriophage therapy market growth over the forecast period. Bacteriophages are considered viable alternatives to treat antibiotic-resistant bacterial infections and find increasing applications in healthcare and food industries. Moreover, phages demonstrate high host specificity and do not harm human cells, making them safer treatment options. Rising initiatives by market players and research institutes for clinical trials and product developments will further aid in market expansion. However, lack of regulatory guidelines and long clinical approval process remains a major challenge, which needs to be addressed to realize the full potential of this bacterial therapy. Nevertheless, ongoing R&D suggests that bacteriophage therapy holds promise to revolutionize infectious disease treatment in the coming years.

Segment Analysis

The global bacteriophage therapy market is primarily segmented based on product, application, distribution channel and region. Based on product, the market is segmented into preclinical and clinical stage. The clinical stage segment dominated the market in 2023 due to rapid clinical trials and increased application in treating bacterial infections in humans. Based on application, the market is categorized into diagnostic, anti-microbial drug discovery, veterinary medicines and bacterial disease treatment. The bacterial disease treatment segment held the major market share in 2023 owing to rising prevalence of antibiotic resistant infections, especially hospital acquired infections.

PEST Analysis

Political: The market is positively impacted by government initiatives promoting bacteriophage therapy for antibiotic resistance. For instance, the USA government launched PDBe program to develop phage therapeutics.
Economic: The market witnessed high growth due to rising healthcare budgets allotted for research and development of novel therapeutics, especially antibiotic alternatives.
Social: Growing awareness regarding use of bacteriophage therapy for treatment of infectious diseases through campaigns boosted the market growth.
Technological: Advancements in omics technologies for phage isolation, identification and characterization augmented product development.

Key Takeaways

The global bacteriophage therapy market share is expected to witness high growth at a CAGR of 8.6% during 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 8.6% over the forecast period 2023 to 2030.

Regional analysis reveals that North America dominated the market in 2023 owing to strong government funding and increasing clinical research.

Key players analysis:
Key players operating in the bacteriophage therapy market are Phage International, Adaptive Phage Therapeutics, Armata Pharmaceuticals Inc, Locus Biosciences Inc. Armata Pharmaceuticals Inc witnessed a 40% growth in 2023 and holds over 20% market share due to its lead product AP-SA01 in phase 2 clinical trial for treating Staphylococcus aureus bacteremia.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it

Ravina
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Ravina Pandya,  Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. With an MBA in E-commerce, she has an expertise in SEO-optimized content that resonates with industry professionals.