According to a new report, Bacteriophage Therapy Market will grow from US$ 1,280.9 million in 2023 to US$ 1,651.8 million by 2030 at a compounded annual growth rate (CAGR) of 3.7% during the forecast period, by Coherent Market Insights.
Market Dynamics:
Rising prevalence of hospital-acquired infections drives market growth. According to the World Health Organization (WHO), hospital-acquired infections affected over 330 million patients globally in 2019.
Furthermore, increasing number of multi-drug-resistant bacterial infections is also contributing to the growth of the market. For instance, according to the WHO, drug resistance is projected to cause 10 million deaths annually by 2050. Due to the emergence of multi-drug-resistant infections, bacteriophage therapy is gaining significant traction as an effective alternative treatment option.
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Market Trends:
Adoption of bacteriophage therapy for treatment of chronic wound infections is a key trend driving market growth. Chronic wounds such as diabetic foot ulcers, pressure ulcers, and venous leg ulcers are difficult to treat owing to colonization of multi-drug-resistant bacterial strains. Bacteriophage therapy is being increasingly adopted for the treatment of chronic wound infections. This is due to its high efficacy and bactericidal nature.
Increasing research collaborations for the development of novel bacteriophage therapy products is another trend gaining traction. Key players in the market are focusing on establishing research collaborations with academic and research institutions to accelerate product development and commercialization.
For instance, in September 2022, Pherecydes Pharma and the Laboratory of Molecular Microbiology and Structural Biochemistry entered into a research collaboration to discover and characterize new lytic bacteriophages.
Bacteriophage Therapy Market Report Coverage
|
Report Coverage |
Details |
|
Market Revenue in 2023 |
US$ 1,280.9 million |
|
Estimated Value by 2030 |
US$ 1,651.8 million |
|
Growth Rate |
Poised to grow at a CAGR of 3.7% |
|
Historical Data |
2018–2021 |
|
Forecast Period |
2023–2030 |
|
Forecast Units |
Value (USD Million/Billion) |
|
Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
|
Segments Covered |
By Targeted Bacteria, By Disease Indication, By Route of Administration, By Distribution Channel |
|
Geographies Covered |
North America, Europe, Asia Pacific, and Rest of World |
|
Growth Drivers |
Increasing prevalance of infectious diseases Increasing research and development activites |
|
Restraints & Challenges |
Challenges of bacteriophage therapy |
Market Opportunity
The Escherichia coli segment is likely to dominate the market for bacteriophage therapy. It will contribute to approximately 30% of the market share by 2031. An increase in antibiotic-resistant E.coli strains has been recorded in various regions, and there is a demand for alternative treatment methods such as bacteriophage therapy.
The urinary tract infections segment is likely to be the biggest indication segment in the bacteriophage therapy market until 2031. Bacteriophages have many advantages over antibiotics for treating UTIs, since they can selectively target pathogenic bacteria without affecting the normal microbiota. In addition, phage therapy does not risk the development of antibiotic resistance, which is one of the key reasons for their appeal in the case of recurrent UTIs.
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Key Market Takeaways
The global bacteriophage therapy market is anticipated to witness a CAGR of 3.7% during the forecast period 2023-2030. This is due to the growing antibiotic resistance crisis and rising demand for novel anti-bacterial therapeutic approaches.
On the basis of targeted bacteria, the Escherichia coli segment is expected to hold a dominant position. This is due to the high prevalence of E.coli infections and extensive research on E.coli specific bacteriophages.
By disease indication, the urinary tract infections segment is expected to hold a dominant position over the forecast period. This is due to the effective treatment outcomes of bacteriophages against uropathogenic bacterial strains.
On the basis of region, North America is expected to hold a dominant position over the forecast period. This is due to the growing research activities in the field of bacteriophage therapy and rising FDA approvals for clinical studies in the region.
Key players operating in the bacteriophage therapy market include
Armata Pharmaceuticals, Inc.,
Eliava Biopreparations Ltd.,
Pherecydes Pharma,
Intralytix, Inc.,
Phagelux, Inc.
Recent Developments:
On July 11, 2023, Armata Pharmaceuticals, Inc., announced that it has received a US$25 million new financing transaction from Innoviva. The company's pipeline of therapeutic phage candidates, including APPA02 and APSA02, which target infections caused by Pseudomonas aeruginosa and Staphylococcus aureus.
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