Segmented By Bacteria Type (Salmonella, Bacteriophage, Streptococcus, E. Coli, Others), By Product (Oral Consumption, External Consumption, Surgical Treatment), By Application (Human Medicines, Veterinary Sciences, Food & Beverage, Others), and By Region.
New York, Dec. 05, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Phage Therapy Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027" - https://www.reportlinker.com/p06370176/?utm_source=GNW
The global phage therapy market is anticipated to observe impressive growth during the forecast period, 2023-2027.The major factors include growing incidences of foodborne diseases, anti-biotic infections, and extensive research and development.
Phages, also known as bacteriophages, are viruses that only kill and selectively target bacteria.They are the most common biological entities found in nature, effectively fighting, and destroying multi-drug-resistant bacteria.
They are used to treat or stop bacterial infections in patients’ bodies. The other factors supporting the market’s growth are, the increasing application of bacteriophage across the food and beverage industry, increasing government investments, rising awareness among the masses, and technological advancements.
High Prevalence Rate of Foodborne Diseases and Anti-Biotic Infections
The rise in the prevalence rate of foodborne diseases and anti-biotic infections across the globe is expected to enhance the market’s growth.Foodborne infections are caused by rotten food, as pathogenic bacteria and viruses are present in them.
Bacteriophages are extremely specific to target bacteria.Its usage targets a specific bacterial species and significantly reduces off-target effects on the microbiome or human patient, as bacteriophages do not directly affect human cells.
According to the WHO, in 2019, forecasted that about 600 million people will become ill and 420,000 will die because of contaminated food resulting in the loss of 33 million healthy life years. Also, according to the Centers for Disease Control and Prevention (CDC), in 2019, approximately 2 million people in the United States will contract an antibiotic-resistant infection, with at least 23,000 people dying every year.
Heavy investments to support phage therapy by the government is the rising healthcare expenditure which helps in improving its infrastructure.Also, various government and lead companies across the globe are investing in clinical trials and R&D Activities, which is propelling the growth of the market.
For instance, in 2016, the National Institute of Allergy and Infectious Diseases (NIAID), a part of the National Institutes of Health, was granted US$ 5 Mn for 24 research projects to develop advanced therapies such as bacteriophage therapy and others for the treatment of bacterial infections.
Emergence of e-Commerce
Emergence of e-Commerce is bolstering the growth of the market.Several biotech market players are starting to set up online pharmacies of bacteriophage preparations to make phages and phage therapies available across the globe.
For instance, in 2020, Ridgeway, a Digital agency, launched a new e-Commerce website for Optibac probiotics, to build on customer compliance and repeat purchase of phage therapy supplements.
The global phage therapy market is segmented into bacteria type, products, application, and company. Based on bacteria type, the market is divided into salmonella, bacteriophage, streptococcus, E.coli, and others. Based on products, the market is divided into oral consumption, external consumption, and surgical treatment. Based on application, the market is segmented into human medicines, veterinary sciences, food & beverage, and others. In terms of country, the United States is expected to be a lucrative market in the forecast period due to rising prevalence of foodborne diseases and anti-biotic infections in the country.
Armata Pharmaceuticals, Inc., iNtODEWORLD, Inc., Phage International, Inc., Fixed-Phage Limited, OCUS BIOSCIENCES, INC., Intralytix, Inc, PhagoMed Biopharma GmbH, PHAGELUX, INC., Pherecydes Pharma SADIR, and Adaptive Phage Therapeutics Inc are some of the leading companies operating in the market.
In this report, global phage therapy market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
• Phage Therapy Market, By Bacterial Type:
• Phage Therapy Market, By Products:
o Oral Consumption
o External Consumption
o Surgical Treatment
• Phage Therapy Market, By Application:
o Human Medicines
o Veterinary Sciences
o Food & Beverage
• Phage Therapy Market, By Region:
o North America
o Europe & CIS
o South America
o Middle East & Africa
Company Profiles: Detailed analysis of the major companies present in Phage Therapy Market
With the given market data, we offers customizations according to a company’s specific needs. The following customization options are available for the report:
• Detailed analysis and profiling of additional market players (up to five).
Read the full report: https://www.reportlinker.com/p06370176/?utm_source=GNW
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