Phage Therapy Market to be dominated by growing Prevalence of Foodborne Diseases and Anti-Biotic Infections through 2027
Growing prevalence of
foodborne diseases and anti-biotic infections to drive the phage therapy market
in the forecast period, 2023-2027.
According to TechSci Research
report, “Phage Therapy Market - Global Industry Size, Share,
Trends, Opportunity, and Forecast, 2017-2027”, the global phage therapy
market is anticipated to grow at a significant rate in the forecast period,
2023-2027. The increase in incidences of foodborne diseases and anti-biotic
infections, and extensive research and development are the primary factors
driving the demand for the global phage therapy market. Growing technological advancements,
the increasing application of bacteriophage across the food and beverage
industry, and heavy investments in healthcare sector are expected to influence
the market demand. Also, the use of bacteriophage to treat target bacteria and
increase in antimicrobial resistance are also a key factor for increasing the
growth of the phage therapy market, globally.
However, the high cost of bacteriophages
therapy is one of the prime factors restraining the growth of the global
bacteriophage therapy market. Expensive clinical testing and high risk of
product failure for drug development are factors restraining market growth.
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data Figures spread through 110 Pages and an in-depth TOC on "Global
Phage Therapy Market"
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. The bacteriophage segment is expected to hold the largest
market share. This is attributed to the increasing approvals of novel products,
rising manufacturing of antibiotic resistant infection, rising research
activities for development of therapies, increasing adoption of growth
strategies such as acquisitions, and collaborations by market players.
Based on products, the market
is divided into oral consumption, external consumption, and surgical treatment.
The oral
consumption segment is expected to witness largest market share as it is the
most preferred route of administration since it is self-administrable, non-
invasive and cost effective as well.
Based on
application, the market is segmented into human medicines, veterinary sciences,
food & beverage, and others. The food & beverage segment is anticipated
to grow during the forecast period. This is attributed to the ongoing research
for using bacteriophage to target pathogenic bacteria in ready to eat meals,
fresh fruits, dairy products and vegetables.
Major
operating companies operating in global Phage Therapy market are:
·
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
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“North America region
dominates the market in 2021 and is expected to maintain its dominance in the
coming years due to increasing prevalence of foodborne and other infectious
diseases. The strong desire to overcome the burden of antibiotic-resistant
infections, strongly established research infrastructure, and existence of
potential pipeline for phage therapy in the region is another key factor. Also, owing to acquisitions and partnerships
by companies in the region are expected to propel the global phage therapy market
growth till 2027” said Mr. Karan Chechi, Research Director with TechSci
Research, a research based global management consulting firm.
“Phage Therapy Market -
Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027 Segmented
By Bacteria Type (Salmonella, Bacteriophage, Streptococcus, E.Coli, Others), By
Product (Oral Consumption, External Consumption, Surgical Treatment), By
Application (Human Medicines, Veterinary Sciences, Food & Beverage,
Others), By Company, and By Region”, has evaluated the future
growth potential of global phage therapy market and provides statistics &
information on market size, structure, and future market growth. The report
intends to provide cutting-edge market intelligence and help decision makers
take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in global phage therapy market.
Contact
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