Phage Therapy or Bacteriophage Therapy Market to Witness Tremendous Growth Opportunity Against Antibiotics Globally

Phage therapy market is expected to reach USD 1.7 Billion by 2030; growing at a compound annual growth rate (CAGR) of 3.6% from 2024 to 2030. Upsurge in the application of bacteriophage therapy market across various food & beverage industries and a hike in food-borne diseases globally is paving way for the global bacteriophage market.

Increasing antibiotic resistance is proving a threat to mankind. According to World Health Organization, every year, approx. 700,000 people globally die of antibiotic-resistant diseases. Alone in the U.S., 2.8 million people get infected with antibiotic-resistant bacteria or fungi, and more than 35,000 people die of antibiotic resistance. Increasing antimicrobial & antibiotic resistance globally, a hike in the application of phage therapy among industries such as the food & beverage industry, an upsurge in the foodborne diseases globally, and the ongoing extensive R&D are driving the global market of bacteriophage therapy. However, bacteriophage therapy is still under clinical trials, significant risk of product failure, and company pipelines coupled with the absence of skilled experts, specialists, and professionals are thereby hampering the market growth.

The global bacteriophage therapy covers Staphylococcus, Pseudomonas, Escherichia Coli, Streptococcus, Salmonella, and others. Their application includes Infections of the Skin & Nasal Mucosa, Lung & Pleural Infections, Bacterial Dysentery, Supportive Skin Infection, Postoperative Wound Infections, and others. Now, this new treatment is finding its application across Specialty Clinics, Hospitals, Academic Research and Institutes, and others.

Across different regions namely North America, Asia-Pacific, Europe, and the Rest of the World, this new therapy is gaining popularity due to the adverse effects of antibiotics on health. Currently, North America dominates the market in terms of share and is expected to lead this market in terms of sales. 

The global bacteriophage therapy market is highly competitive as various market players are focused on introducing new products and offering better & advanced products to maintain their position in the market and also, to expand their market significantly. The prominent players inducing the global bacteriophage therapy market are Armata Pharmaceuticals Inc. Adaptive Phage Therapeutics, Phagelux, SNIPR BIOME, Microgen, BiomX (MBcure Ltd.), Enbiotix, Eligo Bioscience, MicroPhage Inc., Phage International, Intralytix, Inc, InnoPhage, iNtODEWorld, Locus Biosciences, Bitbiome, PhagoMed Biopharma GmbH, Pherecydes Pharma SA, TechnoPhage, Eliava Biopreparations Ltd., Nextbiotics, PhagePro Inc., Phi Therapeutics, Fixed-phage Ltd, Micreos BV, and ContraFect Corporation, among others.