Global Bacteriophage Market: Snapshot
Rise in the prevalence of different antibiotic-resistant infections across the globe is projected to help the global bacteriophage market expand at a CAGR of 3.7% in the forecast period of 2020 to 2030.
Bacteriophages, or phages, refer to viruses that selectively target and exclusively kill bacteria. These phases are considered one of the most widespread biological entities that have an ability to efficiently fight and kill multi-drug-resistant bacteria. Bacteriophages are gaining traction in the healthcare industry owing to their capability to kill bacteria-causing infections when majority of antibiotics cannot work against an infection. Hence, bacteriophages assist healthcare providers in saving a life of patients, which in turn, propels the global bacteriophage market.
Growing popularity of bacteriophages as an alternative to antibiotics is creating ample opportunities in the bacteriophage market. Furthermore, the bacteriophage therapy uses viruses to introduce their genetic material into bacteria and utilize their host mechanism for their expansion. A surge in the use of this therapy in the treatment or prevention of bacterial infections in an individual is boosting the sales prospects in the global bacteriophage market.
Chronic otitis, urinary tract infections, chronic ulcerative colitis, dental extraction, wound and skin infections, bone infection, cystic fibrosis, lung infections, eye infections, GI infections, and oral infections are some of the disorders in which the bacteriophage therapy is utilized. Bacteriophage therapy is being increasingly utilized in the research fields of biotechnology and molecular biology in varied drug discoveries. This factor creates profitable opportunities in the global bacteriophage market.
In recent years, there is considerable increases in the cases of antimicrobial-resistance infections around the world owing to different bacteria such as Mycobacterium tuberculosis, Salmonella typhi, and Pseudomonas aeruginosa. This factor has resulted into rise in the healthcare expenditure for the treatment of these disorders and surge in the number of deaths. Moreover, the situation is boosting the business prospects in the global bacteriophage market.
Global Bacteriophage Market: Overview
Bacteriophage, also simply known as phages, are bacterial viruses that infect and feed on bacteria to replicate themselves. Historically, researchers observed their role in limiting bacterial activity but study on phages could not make a mark on bacterial genomics. In recent years, there has been resurgence of interest in phages research across the globe for their critical role in bacterial genetics and molecular biology. Being most abundantly found entities in the biosphere, these species will keep influencing the ecology of our planet in myriad ways, and research on them will help scientists decipher the mechanism for basic chemistry of life. Over the past few years, rapid strides taken by molecular biology have shed light on the mechanism underlying their evolution, study genomic sequences of their host cells from close quarters. This has uncovered several promising therapeutic applications of bacteriophages. In the coming years, their role in biotechnology such as bioinformatics and molecular biology will be studied, which will help in the rapid expansion of the bacteriophage market.
Global Bacteriophage Market: Key Trends
The rising significance of bacteriophages in the bacterial fermentation process has led to growing interests of their role in the manufacturing commodity chemicals, biotechnology products, and food products. The rising use of bacteriophages in the foods and beverages industry and areas of medical science is a key factor boosting the global market. In the food industries, industry efforts in unleashing the potential of bacteriophages in food biocontrol has been receiving widespread attention. The use of bacteriophages in controlling foodborne illnesses in various parts of the world caused by the consumption of contaminated food produce commodities is a promising application. For instance, the use of lytic bacteriophages has emerged as effective, natural interventions to reduce the risk of contamination of enteric pathogens on produce commodities. Thus, the demand for various bacteriophages is rising in ready-to-eat meals, fresh cut fruits and vegetable, and dairy products for their antibacterial activity. Relentless research on understanding phage microbiology will open up exciting applications of these species, such as in drug discovery and development.
Global Bacteriophage Market: Market Potential
In the backdrop of rising prevalence of highly antibiotic-resistant bacterial strains in patient populations across the globe, antibacterial potential of lytic bacteriophages is intensively being researched. This has opened an altogether promising avenue in medical science as phage therapy to fight against drug-resistant microbes. This has inflamed interest of the medical community, especially in the U.S. Recently this year, doctors at a hospital in the U.S. used phage therapy to successfully treat a patient diagnosed of infected with multi-drug resistant bacteria. This event kindled interest among the academia and various corporates to leverage the technology of using specific bacteriophages for tailored phage therapy. A biotechnology company, Adaptive Phage Therapeutics, has teamed up with Children's National - Main Hospital to develop a large repository of bacteriophages. A large clinical trial is expected in the not-so-distant future. Such efforts will explore the clinical applications and therapeutic efficacy of bacteriophage therapy, especially in pediatrics.
Global Bacteriophage Market: Regional Outlook
The report offers a granular assessment of various trends shaping opportunities in various regional markets for bacteriophage. The study looks at promising avenues in key regions. The rising prevalence of antibiotic-resistant infections and industry efforts to develop drug pipelines based on phage therapy will present substantial lucrative avenues in developed regions such as North America and Europe. These efforts will be fueled by the rapid advances being made in biotechnology and genomics. Meanwhile, developing economies such as in Asia Pacific are expected to be promising supported by the government initiatives to develop biotechnology infrastructures.
Global Bacteriophage Market: Competitive Analysis
A growing number of companies in the bacteriophage market are focused on meeting the needs of the medical communities by developing novel therapies based on genetically engineered virulent phage banks in various parts of the world. Several players are also investing in developing advanced bacteriophage platforms. Some of the prominent players in the bacteriophage market are AmpliPhi Bioscience Corporation, VersatileBio, Pherecydes Pharma, Fixed-Phage Limited, EnBiotix, Inc., and Microgen.
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