NEWARK, Del, Nov. 08, 2022 (GLOBE NEWSWIRE) -- The global bacteriophage market was worth US$ 41.46 Mn in the year 2021 and is expected to reach US$ 62.72 Mn by the year 2031 at a CAGR of 4.2% between 2021 and 2031.
Bacteriophages come across as viruses that selectively target and kill bacteria. They are amongst the common biological entities effectively fighting and destroying multi-drug resistant bacteria. In other words, when antibiotics fail, bacteriophages come into picture. They kill the bacteria that cause infections, thereby helping healthcare personnel in saving lives. The viruses are actually used for injecting the genetic material of theirs into bacteria and use the host machinery for multiplying themselves.
Bacteria like salmonella typhi, pseudomonas aeruginosa, mycobacterium tuberculosis cause the antimicrobial-resistant infections. These infections are resulting in increased expenditure for treatment. This factor is bound to drive the bacteriophage market in the near future.
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The market participants are emphasizing on adopting inorganic growth strategies like partnerships and collaborations for strengthening the pipeline therapy candidates and also improve on research capabilities. On these grounds, Locus Biosciences Inc., in January 2019, inked a collaboration and license agreement with Janssen Pharmaceuticals, Inc. for manufacturing, developing, and commercializing CRISPR-Cas3-enhanced bacteriophage (crPhage) products aiming to target 2 major bacterial pathogens to treat infection of the respiratory tract.
Oral route of administration is preferred as it is non-invasive as well as cost-effective. Application-wise, gastroenterology holds the largest market share, but not in all the regions. As far as distribution channels are concerned, retail pharmacies are expected to witness a CAGR of 3.7% in the forecast period.
Antibacterial agents are capable of treating most of the bacterial infections. Vaccinations could nip the very infection in the bud. The US FDA, in August 2019, did approve Pretomanid Tablets in conjunction with linezolid and Bedaquiline to treat a specific kind of highly treatment-resistant TB of lungs. These developments could hamper the bacteriophage market going forward. They are, in fact, countering bacteriophage even now. Future Market Insights has walked through these facts with future perspectives in its latest market study entitled ‘Bacteriophage Market’. It has its line of expertise in the form of analysts and consultants to perform it.
Key Takeaways from Bacteriophage Market
- North America holds the largest market share due to the US being driven by growing prevalence of resistance toward antibiotics.
- Europe is led by Russia. This could be credited to conducive regulatory policies being laid down by the government of Russia.
- Coming to the Asia-Pacific, Australia dominates the market due to growing advancements in the phage therapy strategies in Oceania. India-based companies are into collaborations for expanding the product portfolio.
Competitive Landscape
- BioChaimpharm, in June 2021, did expand the manufacturing capacity with extended support from FAO and the EU for coming up with an alternative to antibiotics.
- Intralytix, in November 2021, entered into partnership with AB Agri for exploring the usage of bacteriophages in the animal feed as one of the alternatives to antibiotics and also the other drugs.
- Carillon Miami Wellness Resort, in August 2021, entered into partnership with biostation for launching a novel functional medicine practice that’s located at its 70K-square-feet spa and wellness facility.
“With bacteriophage therapy playing a vital role in biotechnology and molecular biology, the global bacteriophage market is bound to go great guns in the forecast period”, says an analyst from Future Market Insights.
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What’s the Gist of the Report?
- Future Market Insights offers an exclusive perspective and various real-time insights on the bacteriophage market in its latest study, presenting historical demand assessment of 2016 – 2020 and projections for 2021 – 2031.
- The research study is based on product (phage probiotics and phage therapeutics), by route of administration (oral, topical, and others), by application (gastroenterology, respiratory infections, skin infection treatment, wound prophylaxis, urogenital infection treatment, and others), and by distribution channel (retail pharmacies, hospital pharmacies, and online pharmacies).
- Increasing awareness about bacteriophages attacking specific organisms in gut is bound to drive the bacteriophage market in the upcoming period.
Key Market Segments Covered In Bacteriophage Industry Research
By Product:
- Phage Probiotics
- Phage Therapeutics
By Route of Administration:
- Oral
- Topical
- Other
By Application:
- Gastroeneterology
- Respiratory infections market
- Skin infection treatment
- Wound prophylaxis
- Urogenital infection treatment
- Others
By Distribution Channel:
- Retail Pharmacies
- Hospital Pharmacies
- Online Pharmacies
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East and Africa (MEA)
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Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
2.3. Inclusion & Exclusion
3. Key Market Trends
3.1. Key Trends Impacting The Market
3.2. Innovation / Development Trends
4. Market Background
4.1. Macro-Economic Factors
4.1.1. Global GDP Growth Outlook
4.1.2. Global Healthcare Expenditure Outlook
4.1.3. Regional Healthcare Market Outlook
4.2. Forecast Factors - Relevance & Impact
4.2.1. Rising focus on Research and Development
4.2.2. Rising prevalence of antimicrobial-resistance infection
4.2.3. Increasing Use of Antibiotics
4.2.4. Wide Range of Indication of Bacteriophage
4.2.5. Rising Use of Bacteriophage as Vaccine Vehicles
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