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In 2020, the global bacteriophage therapy market is predicted to be worth US$ 1,148.6 million, with a CAGR of 3.7 percent during the forecast period (2020-2030).
Increased prevalence of antibiotic-resistant illnesses, increased approvals of innovative products, and adoption of inorganic development tactics by major key companies are all prominent trends in the worldwide bacteriophage therapy market. These important developments are predicted to help the industry grow.
According to a study published in 2015 by the European Antimicrobial Resistance Surveillance Network (EARS-Net), antimicrobial resistant diseases kill roughly 33,000 individuals in Europe each year. According to the National Center for Global Health and Medicine, roughly 8,000 people died in Japan in 2017 as a result of medication resistance.
Furthermore, the market is predicted to develop due to increased approval and introduction of novel products over the forecast period. For example, Adaptive Phage Therapeutics gained orphan drug designation from the US Food and Drug Administration (FDA) in October 2020 for its PhageBank-based treatment of prosthetic joint infections (PJI).
In addition, prominent companies in the global bacteriophage therapy market are focusing on inorganic growth strategies such as acquisitions and collaborations to expand their market position in the worldwide market. For example, in January 2021, Eligo Bioscience SA signed a research agreement with GlaxoSmithKline (a pharmaceutical company) to advance Eligobiotics research and development for the treatment or prevention of acne vulgaris using a CRISPR-based therapeutic, which is a DNA genome known as clustered regularly interspaced short palindromic repeats (CRISPR-Cas3), for strain-specific sensitivity.
Because of the rising approvals of novel medicines, the worldwide bacteriophage therapy market is predicted to grow at a CAGR of 3.7 percent over the forecast period. Intralytix, Inc., for example, received a patent from the United States Patent and Trademark Office (USPTO) in July 2020 for its Shigella bacteriophages and their various applications for improving food safety and human health, such as maintaining healthy gut microflora by modulating mammal microbiome and reducing Shigella colonisation or levels in the gut.
Due to the increased frequency of urinary tract infections and the development of novel medicines such as bacteriophage therapy for the treatment and management of urinary tract infections, the urinary tract infections sector will account for the biggest market share in 2020. According to a December 2019 research published in the National Center for Biotechnology Information, the prevalence of urinary tract infection (UTI) in women over 65 years of age is roughly 20%, compared to about 11% in the general population. According to the survey, 50 percent to 60 percent of adult females are likely to experience at least one UTI over their lifetime, while around 50 percent to 60 percent of adult males are expected to experience at least one UTI.
Armata Pharmaceuticals, Inc., Eliava Biopreparations Ltd., Pherecydes Pharma, Intralytix, Inc., Phagelux, Inc., Nextbiotics, InnoPhage, Ltd, Locus Biosciences, Inc., TechnoPhage, Eligo Bioscience SA, Phagomed Biopharma GmbH., PhagePro, Inc., Adaptive Phage Therapeutics, Enbiotix, Inc., Intodeworld,
Factor VIII (Xyntha, Octanate, Kovaltry, Advate, Koate, Adynovate, Kogenate, Hemlibra, Elocta, Recombinate, Feiba, Immunate, Alphanate, and Novoeight), Erythropoietin (Epoetin Alfa (Binocrit(2000IU and 4000IU) (Eprex (2000IU and 4000IU) Darbepo (Gulf and Egypt) - Analysis of market size, share, outlook, and opportunity, 2020-2027
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