Bacteriophage therapy involves the use of virus-like particles called bacteriophages or phages that can infect and destroy specific bacterial pathogens while leaving other gut flora intact. It offers an alternative to conventional antibiotics for treating multidrug-resistant bacterial infections. Bacteriophages have demonstrated efficacy against difficult-to-treat pathogens such as Methicillin-resistant Staphylococcus aureus (MRSA), Pseudomonas aeruginosa, and Klebsiella pneumoniae.
The global bacteriophage therapy market size is estimated to be valued at US$ 1,280.9 million 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 key trends:
Phages are considered promising candidates for treating antibiotic-resistant bacterial strains as they can selectively infect and destroy specific pathogens without harming other gut microflora. Their high specificity for targeting virulent strains makes them less likely to induce resistance in bacteria. Various clinical trials are underway to evaluate the efficacy and safety of phage therapy for difficult-to-treat infections like cystic fibrosis, diabetic foot ulcers, and surgical site infections. A positive outlook regarding such studies is expected to support the growth of the Global Bacteriophage Therapy Market Size during the forecast period.
Segment Analysis
The global bacteriophage therapy market is dominated by the antibiotics alternative segment. The antibiotics alternative sub-segment accounts for over 65% of the total market share owing to the rising antimicrobial resistance and growing demand for novel treatment options. Bacteriophage therapy is emerging as a promising alternative to conventional antibiotics for drug-resistant bacterial infections.
Key Takeaways
The global bacteriophage therapy market is expected to witness high growth over the forecast period of 2023 to 2030. The global bacteriophage therapy market size is estimated to be valued at US$ 1,280.9 million in 2023 and is expected to exhibit a CAGR of 3.7% over the forecast period 2023-2030.
Regional analysis:
North America is currently the fastest growing and dominating regional market for bacteriophage therapy. The major factors driving the growth of the North America bacteriophage therapy market include growing prevalence of antibiotic-resistant bacterial infections, supportive government funding for research & development of novel antibacterial therapies, and presence of major key players in the region.
Key players
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. The major players are focusing on new product launches, approvals, collaborations and expansion strategies to gain market share in emerging bacteriophage therapy markets.
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