The Bacteriophage Market is poised for steady growth, driven by growing concerns about antibiotic resistance. According to a new market report, the market is expected to surge from a valuation of US$45.07 million in 2023 to a promising US$68 million by 2033. This translates to a compelling Compound Annual Growth Rate (CAGR) of 4.2%, reflecting the increasing interest in bacteriophages as a viable alternative to traditional antibiotics.
The rising demand for phage probiotics due to their several advantages over traditional probiotics is propelling the growth in the market. Phage probiotics stimulate the growth of good gut bacteria over bad gut bacteria and help maintain a healthy gut. Additionally, a growing development of new treatment options for anti-bacterial-resistant infections is improving the growth in the market. Rising awareness regarding the use of bacteriophage probiotics for patients with bowel difficulties, and immune-mediated digestive issues will also boost the market.
Request a Sample of this Report Now!
https://www.futuremarketinsights.com/reports/sample/rep-gb-14461
Surging demand for phage probiotics has encouraged the key players in the market to up their game by increasing investment in research and development (R&D) for new bacteriophages. In comparison to antibiotics, bacteriophages possess high host specificity, exhibit good benefits with single-hit kinetics, are self-replicating, and also possess anti-biofilm properties.
As per FMI, gastroenterology is the most sought-after application of phage probiotics, as phage probiotics are administered by doctors since phage therapeutics do not get early clearance from regulatory authorities in many developing regions.
Bacteriophage probiotics are mostly administered via the oral route since it is non- non-invasive, show immediate release, and are cost-effective. These probiotics are widely available in retail pharmacies, thereby, boosting sales in developing nations.
Key Takeaways from the Bacteriophage Market Study
- Phage probiotics are expected to hold over 95% market value share in 2021 and are expected to display a CAGR growth of 4.2% over the forecast period.
- The oral route of administration accounted for over 96% of the market share in 2021 and is expected to hold a market share value of 97.2% by 2031.
- In terms of application, gastroenterology registered growth at a CAGR of 4.3% in 2021, with a market share of 93.8%.
- Retail pharmacies will hold a higher share in the Global Bacteriophage Industry due to the presence of a large chain of retail pharmacies and the easy availability of pharma products
- Europe is slated to be the largest leading region with a value share of 43% by the end of the forecast period due to the presence of large healthcare infrastructure and strong R&D centers.
Bacteriophage Market Competition
Acquisitions, expansion, development of an extensive product pipeline, and product launches are the key strategies adopted by manufacturers to increase their revenue and expand their consumer base in different geographies.
- In August 2021, Carillon Miami Wellness Resort partnered with the station to launch a new functional medicine practice located at the resort’s award-winning, 70,000-square-foot spa and wellness facility.
- In February 2020, Microgen’s Bacteriophage products were included in clinical recommendations for urology.
Want more insights?
Future Market Insights brings a comprehensive research report on forecasted revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2031. The Global Bacteriophage Industry is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader. The study provides compelling insights on the Global Bacteriophage Industry segment based on product – (phage probiotics, phage therapeutics), by route of administration- (oral, topical, others), by application (gastroenterology, respiratory infections treatment, skin infection treatment, wound prophylaxis, urogenital infection treatment, others), by distribution channel (retail pharmacies, hospital pharmacies, online pharmacies) and across seven major regions.
Key Players: in the Bacteriophage Market
- Life extension
- Arthur Andrew Medical
- Deerland Probiotics & Enzymes Inc.
- BioChimpharm
- Micreos Human Health
- Designs for Health
- Accelerated Health Systems LLC
- The station
- Microgen
- IntraLytix Inc.
Access Exclusive Market Insights – Purchase Now!
https://www.futuremarketinsights.com/checkout/14461
Key Segments Covered In Bacteriophage Market Research
By Product:
- Phage Probiotics
- Phage Therapeutics
By Route of Administration:
- Oral
- Topical
- Other
By Application:
- Gastroenterology
- Respiratory infections market
- Skin infection treatment
- Wound prophylaxis
- Urogenital infection treatment
- Others
By Distribution Channel:
- Retail Pharmacies
- Hospital Pharmacies
- Online Pharmacies
Author
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges clients face and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube
