Bacteriophage Therapy Market Report Analysis 2020, Growing Demand, Industry Share, Growth, Regional Revenue, Top Company Profiles, CAGR Values, Size Estimation
Global Bacteriophages Therapy Market
Over the last few years, bacteriophages have been researched as a new alternative to antibiotics. As part of the bacteriophages therapy, viruses are used and their genetic material is injected into bacteria, and moreover, their host machinery is used for multiplying the bacteria. This therapy helps prevent or treat various bacterial infections in people’s bodies.
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Global Bacteriophages Therapy Market – Drivers & Restraints
Increasing use of bacteriophage therapy in the diagnostics sector, as well as in the veterinary medicines sector, is expected to drive the global bacteriophage therapy market growth. Bacteriophage has also significantly played an important role in research field of molecular biology and biotechnology sector widening the potential areas of drug discovery.
The global market growth is further triggered by the increasing prevalence of food-borne diseases, which is probably a result of food spoilage caused by pathogenic bacteria and viruses. In its 2018 report, the CDC estimated that around 48 million people are affected by foodborne illnesses each year in the U.S., while 128,000 get hospitalized, and around 3,000 are reported dead.
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Increasing antimicrobial resistance in bacteriophage therapy is foreseen to drive the global bacteriophage therapy market growth in the upcoming years. For instance, the World Health Organization (WHO) in 2017, published a list of global priority pathogens, comprising 12 species of bacteria, which were categorized into critical, high, and medium priorities, based on their resistance levels.
In contrast, the high costs of the bacteriophage therapies may result in the gradual decline of the global bacteriophage therapy market in the near future. For instance, in the Phage Therapy Centre at Georgia, phage therapy cost would range from US$ 2,500 for outpatient care to US$ 20,000 for in-patient treatment.
Global Bacteriophages Therapy Market – Regional Analysis
North America holds a dominant position in the global bacteriophage therapy market, owing to the increasing bacteriophage clinical trials going on in the region. According to the UC San Diego Health 2019 study, the U.S. Food and Drug Administration (FDA) has sanctioned around four clinical trials bacteriophage therapy in the U.S.
Asia Pacific is recognized as the fastest-growing market in the global bacteriophage therapy market, owing to the increasing government initiatives and growing biotechnology infrastructure in the region. According to the National Action Plan 2017, government launched the Vitalis Phage therapy in India to treat antibiotic resistance infection.
Global Bacteriophages Therapy Market – Competitive Outlook
The key players operating in the Bacteriophages Therapy Market include, AmpliPhi Bioscience Corporation, EnBiotix, Inc., iNtoDEWorld, Phage International, Fixed Phage limited, Locus Bioscience, and Pherecydes Pharma.
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By Therapy Type,
- Antimicrobial Drug Discovery
- Veterinary medicines
- North America
- Latin America
- Asia Pacific
- Middle East
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