The Global Phage Therapy Market is Anticipated to Observe Impressive Growth During the Forecast Period, 2023-2027. the Major Factors Include Growing Incidences of Foodborne Diseases, Anti-Biotic Infections, and Extensive Research and Development
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High Prevalence Rate of Foodborne Diseases and Anti-Biotic Infections
The rise in the prevalence rate of foodborne diseases and anti-biotic infections across the globe is expected to enhance the market’s growth. Foodborne infections are caused by rotten food, as pathogenic bacteria and viruses are present in them. Bacteriophages are extremely specific to target bacteria. Its usage targets a specific bacterial species and significantly reduces off-target effects on the microbiome or human patient, as bacteriophages do not directly affect human cells. According to the WHO, in 2019, forecasted that about 600 million people will become ill and 420,000 will die because of contaminated food resulting in the loss of 33 million healthy life years. Also, according to the Centers for Disease Control and Prevention (CDC), in 2019, approximately 2 million people in the United States will contract an antibiotic-resistant infection, with at least 23,000 people dying every year.Increasing Investment
Heavy investments to support phage therapy by the government is the rising healthcare expenditure which helps in improving its infrastructure. Also, various government and lead companies across the globe are investing in clinical trials and R&D Activities, which is propelling the growth of the market. For instance, in 2016, the National Institute of Allergy and Infectious Diseases (NIAID), a part of the National Institutes of Health, was granted US$ 5 Mn for 24 research projects to develop advanced therapies such as bacteriophage therapy and others for the treatment of bacterial infections.Emergence of e-Commerce
Emergence of e-Commerce is bolstering the growth of the market. Several biotech market players are starting to set up online pharmacies of bacteriophage preparations to make phages and phage therapies available across the globe. For instance, in 2020, Ridgeway, a Digital agency, launched a new e-Commerce website for Optibac probiotics, to build on customer compliance and repeat purchase of phage therapy supplements.Market Segmentation
The global phage therapy market is segmented into bacteria type, products, application, and company. Based on bacteria type, the market is divided into salmonella, bacteriophage, streptococcus, E.coli, and others. Based on products, the market is divided into oral consumption, external consumption, and surgical treatment. Based on application, the market is segmented into human medicines, veterinary sciences, food & beverage, and others. In terms of country, the United States is expected to be a lucrative market in the forecast period due to rising prevalence of foodborne diseases and anti-biotic infections in the country.Market Players
Armata Pharmaceuticals, Inc., iNtODEWORLD, Inc., Phage International, Inc., Fixed-Phage Limited, OCUS BIOSCIENCES, INC., Intralytix, Inc, PhagoMed Biopharma GmbH, PHAGELUX, INC., Pherecydes Pharma SADIR, and Adaptive Phage Therapeutics Inc are some of the leading companies operating in the market.Report Scope:
In this report, global phage therapy market has been segmented into following categories, in addition to the industry trends which have also been detailed below:Phage Therapy Market, By Bacterial Type:
- Salmonella
- Bacteriophage
- Streptococcus
- E.Coli
- Others
Phage Therapy Market, By Products:
- Oral Consumption
- External Consumption
- Surgical Treatment
Phage Therapy Market, By Application:
- Human Medicines
- Veterinary Sciences
- Food & Beverage
- Others
Phage Therapy Market, By Region:
- North America
- United States
- Canada
- Mexico
- Asia-Pacific
- China
- India
- Japan
- Australia
- South Korea
- Europe & CIS
- Germany
- France
- United Kingdom
- Spain
- Italy
- South America
- Brazil
- Argentina
- Colombia
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in Phage Therapy Market
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Table of Contents
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Armata Pharmaceuticals, Inc.
- iNtODEWORLD, Inc.
- Phage International, Inc.
- Fixed-Phage Limited
- OCUS BIOSCIENCES, INC.
- Intralytix, Inc
- PhagoMed Biopharma GmbH
- PHAGELUX, INC.
- Pherecydes Pharma SADIR
- Adaptive Phage Therapeutics Inc.