Bacteriophage Therapy Market is Estimated to Witness High Growth Owing to Increasing Consumer Preference for Natural Antibiotics
Bacteriophage therapy, also known as phage therapy, is a medical application of bacteriophages to treat pathogenic bacterial infections. Bacteriophages are viruses that infect and replicate within bacteria and cause lysis of bacterial cells. Phage therapy involves isolation of specific bacteriophages that infect the targeted bacterial pathogen, amplification, and application through various routes such as oral, topical, intravenous or others depending on the infection site. It is used to treat diseases caused by bacteria such as gastric ulcers, gastrointestinal diseases, lung infections, etc.
The global bacteriophage therapy market is estimated to be valued at US$ 1280.9 Mn or Mn in 2023 and is expected to exhibit a CAGR of 12% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics
Increasing consumer preference for natural antibiotics over traditional ones owing to lesser side effects is a major driver of growth of the bacteriophage therapy market. Conventional antibiotics have harmful effects such as disrupting gut microflora leading to diarrhea or issues such as antibiotic resistance over time which limits their application. In contrast, bacteriophages are naturally occurring viruses that only target specific bacterial strains without harming other useful microbes. They exhibit high specificity and are non-toxic to human cells. This makes them an attractive alternative to traditional drugs. Additionally, the use of bacteriophages is estimated to reduce antibiotic resistance as they have a novel mechanism of action and a self-limiting ability to replicate only in presence of target bacteria, thus posing low resistance development risk.
SWOT Analysis
Strength: Bacteriophage therapy market has several strengths such as bacteriophages are highly specific and only target bacterial pathogens without harming human cells. They are non-toxic and safe for human use. Bacteriophages replicate at the site of infection to destroy more bacteria.
Weakness: The major weakness in the bacteriophage therapy market is limited understanding of the mechanisms of bacteriophage infection to fully characterize their pharmacokinetic and safety profiles. The effectiveness of bacteriophages depends on the matching of phages against the targeted bacteria which makes it difficult to develop broad spectrum phage therapies.
Opportunity: Development of phage cocktails and combination therapies with antibiotics offer promising opportunities in the market. Growing global collaborations and research activities to develop new bacteriophage-based therapeutics and products against drug-resistant bacterial infections provide growth opportunities.
Threats: stringent regulations related to the clinical development and manufacturing of bacteriophage products pose major threats to market growth. High capital requirements for research and development also hamper small players in the industry. Substitution threat from advanced antibiotic alternatives also looms large over the market.
Key Takeaways
The global Bacteriophage Therapy Market is expected to witness high growth at a CAGR of 12% during the forecast period owing to increasing antibiotic resistance, need for novel anti-bacterial therapies, and rising R&D investments.
North America currently dominates the market due to supportive regulatory environment and growing adoption of phage therapy in clinical trials. Key regional markets include Europe and Asia Pacific with China emerging as the fastest growing market due to favorable government funding for phage therapy research.
The key players operating in the bacteriophage therapy market are Agrana Group, Archer Daniels Midland Company, Bunge Ltd., Cargill Incorporated, Commodity Specialists Company, Grain Processing Corporation, Ingredion Incorporated, Tate & Lyle Plc., Tereos Syral, and The Roquette Group. The major players are focusing on new product launches, collaborative research initiatives, and geographic expansion to strengthen their market position. Phage therapy shows promising potential with ongoing advancements in phage screening and characterization techniques driving its clinical adoption worldwide.
Get more insights on this topic: https://www.timessquarereporter.com/business/the-global-bacteriophage-therapy-market-growth-accelerated-by-rising-demand-from-healthcare-industry
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