The global bacteriophage market is expected to experience steady growth over the next decade, capturing a valuation of USD 45.07 million in 2023 and projected to reach USD 68 million by 2033. The market is set to register a compound annual growth rate (CAGR) of 4.2% during the forecast period.
Bacteriophages, viruses that target and destroy bacteria, are gaining traction as an alternative to traditional antibiotics, particularly in the face of rising antibiotic resistance.
Bacteriophages, or phages, are viruses that target and destroy specific bacteria, offering a promising alternative to traditional antibiotics, particularly in the face of rising antimicrobial resistance. As the global healthcare industry increasingly turns to innovative solutions to combat bacterial infections, the demand for bacteriophage-based therapies is gaining momentum.
Phage probiotics are increasingly in demand since they have many advantages over conventional probiotics. This is driving the market’s expansion. In order to maintain a healthy gut, phage probiotics encourage the growth of beneficial gut bacteria over bad gut bacteria. The market is expanding more rapidly as novel treatment options for infections caused by bacteria resistant to antibiotics are being developed. Growing public knowledge of the use of bacteriophage probiotics for those with immune-mediated digestive problems and bowel problems will also help the industry.
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, they 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- invasive, shows immediate release and is cost effective. These probiotics are widely available in retail pharmacies, thereby, boosting the sales in developing nations.
Key Takeaways from 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 market share in 2021 and is expected to hold a market share by 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 bacteriophage market due to presence of large chain of retail pharmacies and 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 presence of large healthcare infrastructure and strong R&D centers.
“With rising prevalence of antibacterial resistance, the bacteriophage market is expected to witness steady growth over the forecast period. To curb the global burden, key players are likely to invest extensively in R&D activities to develop effective phage probiotics” says an analyst of Future Market Insights.
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 biostation 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 have been included into clinical recommendations for urology.
Want more insights?
Future Market Insights brings the 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 market 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 bacteriophage market 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:
- Life extension
- Arthur Andrew Medical
- Deerland Probiotics & Enzymes Inc.
- BioChimpharm
- Micreos Human Health
- Designs for Health
- Accelerated Health Systems LLC
- The biostation
- Microgen
- IntraLytix Inc.
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Key Market Segments Covered In Bacteriophage Industry Research
By Product:
- Phage Probiotics
- Phage Therapeutics
By Route of Administration:
- Oral
- Topical
- Other
By Application:
- Gastroeneterology
- Respiratory infections market
- Skin infection treatment
- Wound prophylaxis
- Urogenital infection treatment
- Others
By Distribution Channel:
- Retail Pharmacies
- Hospital Pharmacies
- Online Pharmacies
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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