Bacteriophage Market - Global Size, Share, Trends, Growth and Forecast Year ( 2022 – 2032 )
Bacteriophage Market Dynamics
Bacteriophage Market by Product Type (Phage Probiotics, Phage Therapeutics), Application (Gastroenterology, Respiratory Infections Market, Skin Infection Treatment, Wound Prophylaxis, Urogenital Infection Treatment, Others), Route of Administration (Oral, Tropical, Other), Distribution Channel (Retail Pharmacies, Hospital Pharmacies, Online Pharmacies), and Geographic Regions (North America, Europe, Asia Pacific, Latin America, Middle East and Africa): Industry Trends and Global Forecasts, 2023-2032.
Market Size and Overview:
According to the findings of KD Market Insights, the bacteriophage market is likely to record a consistent expansion over the 2023-2032 period. With a compound annual growth rate (CAGR) of 8.0%, the market's value reached USD 159.8 million in 2032. This growth can be attributed to the growing need for research and development leads to the making of new drugs and therapies. The market is highly competitive, with key players continually innovating to meet evolving consumer demands.
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Bacteriophage Market Report Scope |
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Base Year Market Size |
2022 USD 74.0 Million
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Forecast Year Market Size
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2032 USD 159.8 Million |
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CAGR Value
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8.0% from 2023 to 2032 |
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Segmentation
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•By drug class •By distribution channel •By geography
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Challenges
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•High cost of treatment •Lack of awareness •Lack of new innovative treatments •Changing consumer preference •Economic downfall |
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Growth Drivers
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•Growing need for research & development •Increasing demand for treating infectious bacteria •Increasing number of patients with gastrointestinal •Availability of bacteriophage products online |
Market Segmentation:
Product Type:
- Phage Probiotics
- Phage Therapeutics
Application:
- Gastroenterology
- Respiratory Infections Market
- Skin Infection Treatment
- Wound Prophylaxis
- Urogenital Infection Treatment
- Others
Route of Administration:
- Oral
- Tropical
- Other
Distribution Channel:
- Retail Pharmacies
- Hospital Pharmacies
- Online Pharmacies
Geographic Regions:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Phage Probiotics: Phage Probiotics is the leading segment based on product type. It is accounted for the highest share in the bacteriophage market. The product promotes the growth of good bacteria and helps in improving gut flora diversity. The adoption of phage probiotics is increasing because of the rising demand for natural alternatives and growing awareness.
Oral: Based on the route of administration, the oral segment is leading the market share in the bacteriophage market. Due to its self-administrable, non-invasive, and cost-effective advantages, it is the most preferred route of administration.
Regional Analysis:
The regional analysis of the Bacteriophage Market reveals diverse trends and dynamics across different parts of the world. The North American region is accounted for the largest share of the bacteriophage market. This is because of the rising healthcare expenditure and immediate recovery and therapeutic effect provided by lytic bacteriophage. Furthermore, the rise in the adoption of new technologies and the presence of key players also lead to market growth.
The Asia-Pacific region is considered the fastest-growing region. This is because of the increasing investment in research and development for novel drug products. The market is also led by initiatives taken by the government and the rising development of healthcare infrastructure.
Growth Drivers:
Several factors drive the growth of the bacteriophage market. The growing need for research and development leads to the making of new drugs and therapies. This leads to new opportunities for the bacteriophage market. The increasing demand for treating infectious bacteria is also leading to market growth.
The increasing number of patients with gastrointestinal due to changing eating habits increases the demand for bacteriophages as it is taken as a probiotic to treat gastrointestinal diseases. The availability of bacteriophage products from the e-commerce platforms also increases the market demand for the bacteriophage market.
Challenges:
There is a high cost of treatment which is a major restraining factor for the bacteriophage market. Due to this high cost, several small healthcare facilities cannot afford the treatment. In the backward areas as well as the low and middle-income countries, lack of facilities and treatment plays a major declining factor for the market. Lack of new innovative treatments, changing consumer preferences, and economic downfall are also negatively affecting the bacteriophage market. The lack of awareness regarding the treatments is also one of the hurdles.
Key Companies:
- Life Extension
- Arthur Andrew Medical
- Deerland Probiotics & Enzymes Inc.
- BioChimpharm
- Micreos Human Health
- Designs for Health
- Accelerated Health System LLC
- The biostation
- Microgen
- IntraLytix Inc.
- Other Key & Niche Players
The report profiles leading companies in the Bacteriophage Market, such as Life Extension, Arthur Andrew Medical, Deerland Probiotics & Enzymes Inc., and others. These companies have a strong market presence, extensive distribution networks, and a wide product portfolio. Their competitive strategies involve product innovation, strategic partnerships, mergers, and acquisitions to enhance their market share and cater to diverse customer needs.
In August 2021, Carillon Miami Wellness Resort entered into a partnership with the biostation to launch a new functional medicine practice.
In November 2021, Intralytix entered into a partnership with AB Agri to explore the use of bacteriophages in animal feed.
In June 2021, with the support of the European Union and FAO, BioChimpharm expanded its production capacity to develop alternatives to antibiotics.
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- Publication date: 3rd September 2023
- Base year: 2022
- Forecast year: 2023-2033
- Format: PDF, PPT,Word,Excel
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