Bacteriophage therapy is an ancient medical technique that uses viruses to treat pathogenic bacterial infections, which are becoming increasingly difficult to cure with antibiotics alone due to the growing problem of antimicrobial resistance. Bacteriophage therapy offers a natural, non-toxic alternative that only targets harmful bacteria without disturbing the normal microbiota.
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:
Increasing research into bacteriophage biology and greater awareness of antibiotic resistance are driving demand for bacteriophage therapy. Regulatory approvals are also growing as clinical studies demonstrate bacteriophage's ability to treat antibiotic-resistant infections effectively with no major side effects. For example, trials have found bacteriophage treatment can resolve urinary tract and gastrointestinal infections when antibiotics fail. As new applications are discovered and regulatory hurdles lowered, bacteriophage therapy is poised to accelerate as an indispensable solution in the healthcare industry's fight against antimicrobial resistance.
Segment Analysis
Bacteriophage Therapy Market is segmented into enteric viruses, lytic bacteriophages and lysogenic bacteriophages. The enteric viruses segment accounted for the largest market share in 2023 and is expected to witness high growth during the forecast period. Enteric viruses can infect and replicate in the gastrointestinal tract of humans and other animals. They cause a variety of gastrointestinal illnesses and are the most common cause of food-borne diseases. Key factors such as the rising prevalence of stomach and intestinal infectious diseases and the effectiveness of bacteriophages in treating these diseases are driving the growth of this segment.
Key Takeaways
The global Bacteriophage Therapy Market Demand is expected to witness high 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 12% over the forecast period 2023 to 2030.
Regional analysis: North America region currently dominates the bacteriophage therapy market and is expected to continue its dominance during the forecast period. This is attributed to factors such as the growing prevalence of antibiotic-resistant infections, increasing R&D activities related to bacteriophage therapy, and presence of key players in the region.
Key players: Agrana Group, Archer Daniels Midland Company, Bunge Ltd., Cargill Incorporated, Commodity Specialists Company, Grain Processing Corporation, Ingredion Incorporated, Tate & Lyle Plc., Tereos Syral are some of the key players operating in the Bacteriophage Therapy Market.
Get more insights on this topic: https://www.newsstatix.com/bacteriophage-therapy-market-analysis-scope/
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.
