The bacteriophage therapy market is increasingly gaining traction as an effective alternative to conventional antibiotics owing to the rising threat of antibiotic resistance. Bacteriophage therapy involves the use of bacteriophages or bacterial viruses that can infect and destroy specific bacterial pathogens without harming human hosts. It is a natural and targeted approach to treat bacterial infections. Traditionally used in Eastern Europe and the former Soviet Union, phage therapy offers several advantages over antibiotics such as high strain-specificity, self-replication at the site of infection, and ability to eliminate pathogenic bacteria without disrupting normal microbiota. With the emergence of multidrug-resistant strains of bacteria, bacteriophage therapy is being extensively researched as a potential solution to treat a wide range of bacterial diseases including foodborne illnesses, nosocomial infections, respiratory infections and more.
The global Bacteriophage Therapy Market is estimated to be valued at US$ 1,280.9 Mn in 2023 and is expected to exhibit a CAGR of 3.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the prominent trends in the bacteriophage therapy market is the increasing focus on research. Several researchers and companies are engaged in developing effective bacteriophage-based therapies and products. For instance, Armata Pharmaceuticals is developing a new drug candidate AP-PA02 to treat patients with severe Staph aureus infections including bacteremia and pneumonia. Similarly, Phagelux Inc. is developing phage cocktails to treat burn wound infections. Research is also ongoing to develop more targeted phage therapies to combat specific antibiotic-resistant infections. Another key trend is the growing interest from venture capital firms and investments in bacteriophage therapy startups. This is expected to accelerate research activities in this area and facilitate the development of novel phage-based products.
Threat of new entrants: Low. Require high R&D investments and specialized manufacturing infrastructure to enter this market.
Bargaining power of buyers: Moderate. Limited product availability from manufacturers increases buyers’ bargaining power.
Bargaining power of suppliers: High. Specialized products and limited number of suppliers increases their negotiating power.
Threat of new substitutes: Low. No products have demonstrated clear substitutability for bacteriophage therapy yet.
Competitive rivalry: High. Significant competition exists among existing players to dominate disease applications.
The Global Bacteriophage Therapy Market Size is expected to witness high growth over the forecast period. The global Bacteriophage Therapy Market is estimated to be valued at US$ 1,280.9 Mn in 2023 and is expected to exhibit a CAGR of 3.7% over the forecast period 2023 to 2030.
Regional analysis: North America is expected to dominate the bacteriophage therapy market during the forecast period. Major players are based in the US and Canada and these regions have more flexible regulations regarding phage therapy research and clinical trials. The Asia Pacific region is expected to grow at the fastest pace due to rising incidence of antibiotic-resistant infections.
Key players: Key players operating 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, Enbiotix, Inc., Intodeworld, Inc., BiomX Ltd., Phi Therapeutics, Fixed-phage Ltd., Micreos BV, ContraFect Corporation, OPTIPHARM Co., Ltd.
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it