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| Bacteriophage Therapy Market |
The Bacteriophage Therapy Market is estimated to be valued at US$ 1,280.9 Bn 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 Overview:
Bacteriophage therapy involves the use of bacteriophages to treat pathogenic
bacterial infections. Bacteriophages are viruses that kill bacteria and are
considered as alternatives to conventional antibiotics for treating multi-drug
resistant bacterial infections. Bacteriophage therapy offers advantages such as
high specificity, self-replication and self-limiting ability making them an
efficient and safe treatment option compared to antibiotics.
Market key trends:
One of the key trends propelling the growth of the bacteriophage therapy market
is the increased use of bacteriophages in healthcare facilities to treat
antibiotic-resistant infections. The proliferation of antibiotic-resistant
bacterial strains due to overuse of antibiotics has necessitated the
development of novel alternative treatment options. Bacteriophages have emerged
as effective agents against multi-drug resistant pathogenic bacteria that
infect both humans as well as livestock. For example, bacteriophages have been
approved for the treatment of bacterial infections in patients in countries
like Poland, Georgia and Russia. Other former USSR states have also approved
phage therapy which has boosted overall market growth.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderate as significant
investment is required to develop new bacteriophage therapeutics. The
regulatory environment is also stringent for approval of new products.
Bargaining power of buyers: The bargaining power of buyers is moderate as there
are limited approved products available in the market currently. However,
alternative antibiotic therapies offer competition.
Bargaining power of suppliers: The bargaining power of suppliers is low due to
the presence of many suppliers in the market offering bacteriophages.
Threat of new substitutes: Threat from new substitutes like conventional
antibiotics is high. However, with rising antimicrobial resistance,
bacteriophage therapy is emerging as an attractive alternative.
Competitive rivalry: High due to several companies focusing on developing novel
bacteriophage therapies.
SWOT Analysis
Strengths: Targeted therapy against specific bacteria, no adverse effects on
human cells, multi-targeting ability against bacterial virulence genes.
Weaknesses: Narrow host range of bacteriophages, need for characterization of
phages, high production cost.
Opportunities: Growing AMR concerns, expansion into new applications like
biodefense, wound care & others.
Threats: Regulation and standardization challenges, resistance development in
bacteria.
Key Takeaways
The global Bacteriophage
Therapy Market Share size is expected to reach US$ 1,280.9 million by
2030, expanding at a CAGR of 3.7%
during the forecast period. Increasing antimicrobial resistance has become a
serious public health issue, driving the demand for bacteriophage therapy as an
alternative approach.
The US holds the largest share of the North America bacteriophage therapy
market currently owing to rising prevalence of diseases caused by
multidrug-resistant bacterial infections. Availability of advanced healthcare
facilities and growing investments in R&D are boosting the market in the
US.
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. Major players are focused on advancing their product pipelines
through strategic collaborations and acquisitions.
Read More,
https://www.trendingwebwire.com/bacteriophage-therapy-market-trends-size-and-share-analysis/
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