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The latest market report published by Acute Market Reports “Bacteriophage Market – Growth, Future Prospects, and Competitive Analysis, 2019-2029” the Bacteriophage market expected to grow at a CAGR of 4.5% during the forecast period from 2021 to … Read More
The Bacteriophage Market is forecast to grow CAGR upto 4.5% from 2021 to 2029. Recently, bacteriophages or phages have been recognized as an efficient tool in modern biotechnology through a multitude of researches advocating the potential usage of bacteriophages across several applications. Researchers have also proposed bacteriophages as a viable alternative to antibiotics for several antibiotic-resistant bacterial strains. They can also be used as biocontrol agents in petroleum and agriculture industry. Bacteriophages have unique application in the petroleum industry as bacterial fouling often leads to serious damage to gas pipelines, devaluating the products and therefore increasing capital expenses. Additionally, bacteriophages can also be used as vaccine vehicles, for detection of pathogenic bacterial strain and as display systems (phage displays) for several antibodies and proteins. Bacteriophages present a diverse group of viruses that can be conveniently manipulated and thus have significant application in research, therapeutics and biotechnology. Phages not just control the bacterial population, but also contribute to moving genes from one bacterium to another. Therefore, the study of bacteriophage particles offers insights into genome evolution, bacterial evolution, DNA expression and copying, and thus development of new biotechnologies. Globally, the incessant growth in bacterial resistance to majority of antibiotics is becoming a new driving factor for phage therapy that uses lytic phage particles as these entities are devoid of metabolic operation and do not have affinity to eukaryotic cells. Furthermore, utilization of bacteriophage particles in phage vaccination is also emerging as one of the promising preventive strategies currently under research. Other major areas where bacteriophages are finding renewed focus are bacterial biosensing devices, phage-display based selection of biological affinity molecules, food biopreservation, food safety, biocontrol of plant pathogens, corrosion control and biofilm control.
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According to the WHO, in 2019, around 600 million people (almost 1 in 10 people in the world) fell ill after consuming contaminated food and 420,000 die every year, resulting in the loss of healthy life years (DALYs). Moreover, children under the age of 5 years carry 40% of food borne disease burden, with 125,000 deaths every year. This factor is boosting the growth of the bacteriophages therapy market. According to CDC, more than 2.8 million people were diagnosed with antibiotic-resistant bacterial infections, and among them, more than 35,000 people die each year.
Salmonella, Streptococcus, Escherichia Coli, Streptococcus & Pseudomonas are some of the bacteria’s which cause a harm to humans. The phages are used in various sectors as follows Diagnostic center, Food & Beverages, Agriculture sector, Antimicrobial Drug Discovery, Veterinary hospitals & various clinics. The mode of transmission can be through oral, topical, nasal, trans rectal etc. The COVID19 pandemic has resulted in a temporary pause of all non-essential and elective procedures. Pharmaceutical manufacturers have been severely impacted, with companies reporting a significant drop in revenue due to supply chain crisis.
In terms of geography, North America held the largest share in the global bacteriophage market due to prominent phage entities in the U.S., faster and first in the world commercialization process in the region, and significantly large patient pool suffering with bacterial infections and growing incidence of anti-biotic resistance. Moreover, established use of bacteriophages in the areas of environment and food and evolved research infrastructure with several initiatives being undertaken introducing breakthrough technologies will further drive the market during the forecast period. Asia Pacific is projected to witness the fastest progress in the global market due to rapidly evolving biotechnology infrastructure, evolving agriculture practices, and equally supportive government initiatives. The key players currently engaged in bacteriophage market include Federal State Scientific Industrial Company MICROGEN, AmpliPhi Biosciences Corporation, EnBiotix, Phage Biotech Ltd., Fixed-Phage Limited, InnoPhage, Pherecydes Pharma, TechnoPhage SA, VersatileBio among others.Key Market Movements:
The Bacteriophage market is developing significantly with an expected CAGR of 4.5% from 2019 – 2029.
Advances in technological processes are the key growth factor.
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