by The global Bacteriophage Therapy Market provides potential alternative for antibiotics to treat bacterial infections and drug-resistant “superbugs.” Bacteriophages or phages are viruses that infect and replicate within bacteria by hijacking the bacterial processes. The use of phages to treat bacterial infections has gained significant traction in recent years, driven by growing R&D in engineering advanced phages and clinical trials to expand therapeutic applications.
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 key trends:
Increased R&D in Developing Advanced Bacteriophage Therapies
The bacteriophage therapy market is driven by significant investments in R&D to engineer advanced phages targeting drug-resistant bacterial strains. Leading pharmaceutical companies are collaborating with top research institutes to develop genetically modified phages with expanded host range, stability at different temperatures and pH levels, self-amplifying ability, and targeted delivery capabilities. For instance, in 2020, Eli Lilly and Company partnered with Motif FoodWorks to develop phage-based therapies to prevent and treat bacterial infections in foods. Ongoing clinical trials on using bioengineered phages against difficult to treat infections such as Pseudomonas aeruginosa and Acinetobacter baumannii are expected to validate the therapeutic potential of bacteriophage therapy.
SWOT Analysis
Strength: Bacteriophage therapy offers highly targeted treatment against specific bacterial strains with no harm to other bacteria of the human microbiome. It is considered a natural alternative to conventional antibiotics.
Weakness: Extensive clinical trials are still required to obtain regulatory approvals for their therapeutic use in humans. Limited understanding of phage biology and bacterial resistance mechanisms poses challenges.
Opportunity: Rising antibiotic resistance and shortage of new broad-spectrum antibiotics present a major opportunity for bacteriophage therapy. Increasing R&D investments and growing clinical research on phages are expanding therapeutic applications.
Threats: Stringent regulations for approval may delay commercialization. Possible development of bacterial resistance against phage therapies over long-term use.
Key Takeaways
The global bacteriophage therapy market demand is expected to witness high growth over 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.
North America currently dominates the market and is expected to continue its leading position over the forecast years. This can be attributed to growing R&D activities backed by increased government funding and presence of major players in the region.
Key players operating in the bacteriophage therapy market are Pherecydes Pharma, Adaptive Phage Therapeutics, Armata Pharmaceuticals, Intralytix, PhagePro, Phagelux, BiomX Ltd., and Eligo Bioscience. These companies are focused on expanding their product pipelines by developing novel formulations effective against multidrug-resistant pathogens.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
