Emergence of multi-drug-resistant pathogens, as a result of huge application of antibiotics over a long time, is growing, and becoming increasingly difficult to treat. Bacteriophage technologies have therefore begun to garner great interest as alternatives to antibiotics. Rising prevalence of antimicrobial resistance and limited new antibiotic discoveries and development have sustained innovation and led to a renewal of interest in bacteriophages.
Advantages of phage therapy along with probiotics are gaining importance in the treatment of antibacterial-resistant infections, and demand is expected to grow over the next few years. Currently, players operating in the bacteriophage market are concentrating on meeting the needs of health professionals and patients by introducing novel phage therapies, and are investing in the development of advanced bacteriophage platforms.
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As per Fact.MR’s analysis, the global bacteriophage market was valued at around US$ 39 Mn in 2019, and is projected to expand at a CAGR of over 4% through 2030.
Key Takeaways from Bacteriophage Market Study
- Phage probiotics to account for over 95% market share in 2020.
- Gastroenterology is the most lucrative application segment, and holds nearly 94% of the market share.
- North America and Europe collectively hold over tow-third of the global market share, owing to technological advancements and increasing research & development activities across these regions.
- Retail and hospital pharmacies to account for over 80% value share through 2030.
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- 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.
- Russia holds a major share in the European market, and is projected to expand at a CAGR of close to 6% over the next ten years.
- The U.S. has a leading share in North America, and is projected to expand at a modest CAGR of over 3% through 2030.
“Rising adoption of e-Commerce and increasing technological advancements in the development of phages are factors anticipated to aid growth of the global bacteriophage market over the coming years,” says a Fact.MR analyst.
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Strategic Partnerships and Funding by Manufacturers for Development of Phage Therapeutics
Pharmaceutical companies are collaborating with a collective goal to foster innovation by working with biotech firms and companies, governments, and market stakeholders, to enable supportable investments into a novel pipeline of bacteriophage therapy.
For instance, Janssen Pharmaceuticals, Inc. and Locus Biosciences Inc., in 2019, signed a complete license and collaboration agreement to manufacture, develop, and commercialize CRISPR-Cas3-enhanced bacteriophage (crPhage) products for the treatment of various infections, such as respiratory tract infection caused by two key pathogens, and other related infections. For this, Locus will receive US$ 20 million as an initial payment, which is expected to reach US$ 798 million from future sales of the product.
Such partnerships between pharmaceutical companies are aimed at strengthening and accelerating phage therapy development to introduce new therapies by end of this decade.
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