Bacteriophage therapy involves the use of bacteriophages that can infect and destroy specific bacterial pathogens without harming humans. It has emerged as a promising alternative to conventional antibiotics due to the rise of antibiotic-resistant infections. Bacteriophages are highly effective against targeted bacterial strains and have minimal side effects as compared to antibiotics. The therapy is considered safe for human use and can potentially treat various infectious diseases including chronic infections, gastroenteritis, wound infections, and even acne.

The global Bacteriophage Therapy Market is estimated to be valued at US$ 1280.9 Mn in 2023 and is expected to exhibit a CAGR of 12% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Opportunity:

The opportunity in disease treatment and prevention is expected to drive the growth of the bacteriophage therapy market during the forecast period. Bacteriophages show significant potential in the treatment of antibiotic-resistant bacterial infections. According to the World Health Organization (WHO), antibiotic-resistant bacteria could cause 10 million deaths each year by 2050 if no action is taken to address growing antimicrobial resistance. The effectiveness of bacteriophages against drug-resistant bacteria makes them an attractive alternative to conventional antibiotics. Their ability to precisely infect and kill bacteria without harming human cells could help treat infections that have become untreatable such as multidrug-resistant tuberculosis and hospital-acquired resistant infections. Furthermore, bacteriophage therapies may play a key role in preventing the spread of infectious diseases by eliminating pathogenic bacteria from food and agricultural products, hospitals, and the environment. This ensures food safety and public health security, thus creating opportunities for bacteriophage therapy in both human and non-human applications.

Porter's Analysis

Threat of new entrants: Low capital requirements and established distribution channels in the pharmaceutical industry lower barriers to entry. However, extensive R&D required and regulations from authorities discourage new players.

Bargaining power of buyers: Large pharmaceutical companies have significant bargaining power over smaller players due to their established market position and distribution networks. However, increasing demand for personalized treatment solutions balances this power.

Bargaining power of suppliers: A few global phage libraries control specialized inputs required for biotherapy manufacturing. This concentrates supplier bargaining power. Alternative sources from research institutes help balance dependence.

Threat of new substitutes: No close substitutes exist for phage therapy's targeted approach. However, advances in gene therapy and nanomedicine could challenge its role in future.

Competitive rivalry: Large players intensify competition through investments in R&D and clinical trials to strengthen intellectual property. Smaller firms differentiate through niche formulations.

SWOT Analysis

Strengths: Highly targeted treatment with minimal side effects.Growing clinical evidence and research support.

Weaknesses: Limited understanding of phage-host interactions. Regulatory compliance requires extensive documentation for each strain.

Opportunities: Wide scope in antibacterial resistance, oncology and inflammatory disorders. Personalized applications present opportunities.

Threats: Slow regulatory approvals and clinical adoption delay commercialization. Substitutes from synthetic biology and gene therapy.

Key Takeaways

The global Bacteriophage Therapy Market Share is expected to witness high. The global Bacteriophage Therapy Market is estimated to be valued at US$ 1280.9 Mn in 2023 and is expected to exhibit a CAGR of 12% over the forecast period 2023 to 2030.

North America dominates currently due to advancements in clinical research. However, Asia Pacific is emerging rapidly driven by initiatives in India, China and South Korea to develop indigenous phage applications. Further, increasing concerns regarding antimicrobial resistance and the lack of effective drugs provide a conducive environment for alternatives like phage therapy to grow. China also presents significant opportunities owing to its large population and healthcare infrastructure.

Key players operating in the bacteriophage therapy market include Agrana Group, Archer Daniels Midland Company, Bunge Ltd., Cargill Incorporated, Commodity Specialists Company, Grain Processing Corporation, Ingredion Incorporated, Tate & Lyle Plc., Tereos Syral, and The Roquette Group. These players are engaged in new product launches, facility expansion and collaborations to strengthen their market position.
 

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