Global Bacteriophage Industry to Witness 4.2% CAGR, Expected to Reach US$68 Million by 2033 | Reports FMI
In a ground-breaking development, the Global Bacteriophage Industry is making waves with a current valuation of US$ 45.07 million in 2023, according to the latest industry insights. Projected to surge to a remarkable US$ 68 million by 2033, the market is poised for substantial growth with an anticipated Compound Annual Growth Rate (CAGR) of 4.2% throughout the forecast period
increasing demand for phage probiotics due to its several advantages over traditional probiotics is propelling the growth in the market. Phage probiotics stimulate the growth of good gut bacteria over bad gut bacteria and help maintain a healthy gut. Additionally, a growing development of new treatment options for anti-bacterial-resistant infections is improving the growth in the market. Rising awareness regarding the use of bacteriophage probiotics for patients with bowel difficulties, and immune-mediated digestive issues will also boost the market.
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, exhibit good benefits with single-hit kinetics, are self-replicating, and also possess anti-biofilm properties.
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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, show immediate release, and are cost-effective. These probiotics are widely available in retail pharmacies, thereby, boosting sales in developing nations.
Key Takeaways from the Global Bacteriophage Industry 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 the market share in 2021 and is expected to hold a market share 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 the presence of a large chain of retail pharmacies and the 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 the presence of large healthcare infrastructure and strong R&D centers.
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Global Bacteriophage Industry 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 station 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 were included in clinical recommendations for urology.
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Future Market Insights brings a 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 Industry 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 into the 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.
Global Bacteriophage Industry Key Players:
- Life extension
- Arthur Andrew Medical
- Deerland Probiotics & Enzymes Inc.
- Micreos Human Health
- Designs for Health
- Accelerated Health Systems LLC
- The Biostation
- IntraLytix Inc.
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Key Market Segments Covered In Global Bacteriophage Industry Research
- Phage Probiotics
- Phage Therapeutics
By Route of Administration:
- Respiratory infections market
- Skin infection treatment
- Wound prophylaxis
- Urogenital infection treatment
By Distribution Channel:
- Retail Pharmacies
- Hospital Pharmacies
- Online Pharmacies
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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