United States, Rockville MD, Sept. 15, 2022 (GLOBE NEWSWIRE) -- According to the revised study by Fact.MR, a market research and competitive intelligence provider, the global bacteriophage market is estimated at US$ 43.2 million in 2022 and is expected to expand at 5.3% CAGR between 2022 and 2032.
Ascending uptake of bacteriophages as dietary supplements among consumers is being witnessed globally. Government support to manufacturers for the production of bacteriophages is also positively impacting market growth. Market players are focusing on product quality with standardised production in line with end users’ well-being while obeying stringent government regulations and the safety requirements of providers. Bacteriophages will become more popular on the market as a result of less risks and improved human health associated with its consumption.
Bacteriophage therapy finds applications in the treatment and prevention of bacterial infections, urinary tract infections, dysentery, obesity, etc. Limited awareness and high cost have been the significant anchors of bacteriophage therapy adoption in the past.
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Availability of Bacteriophage Products via e-Commerce Platforms
Bacteriophage consumed as pre/probiotic has been segmented under the category of dietary supplements, and is readily available not only in pharmacies and medical dispensaries but also in supermarkets and hypermarkets. With the development in technology and its adoption by the population, digitalization has become a part of our everyday life, with e-Commerce platforms gaining more preference.
The availability of bacteriophage-based products via online channels will not only provide manufacturers with better customer outreach but will also result in global recognition of products, thereby increasing their demand. In addition, consumers get the opportunity to select from a variety of options according to their requirements.
This omnipresence of products on all sales platforms will increase market demand substantially over the coming years.
Key Takeaways from Market Study
- The global bacteriophage market is projected to expand at a CAGR of 5.3% and be valued at US$ 72.1 million by 2032.
- The market exhibited 3.6% CAGR between 2017 and 2021.
- Under product type, phage probiotics dominates the market and is valued at US$ 41.2 million.
- Europe leads the global market with 42.7% share in 2021.
- Bacteriophage demand is expected to increase at CAGRs of 7.7% and 10.7% respectively, in East Asia and the Middle East Asia and Africa.
Segmentation of Bacteriophage Industry Research
- By Product Type :
- 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
- By Region :
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- MEA
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Competitive Landscape
Prominent bacteriophage manufacturers are Life Extension, Arthur Andrew Medical, ADM, Biochimpharm, Micreos Human Health, and Probiotic America.
Rising prevalence of antibiotic resistance and limited discoveries of new antibiotics in the market are major factors compelling key market players to develop bacteriophage therapy products. Manufacturers are extending their consumer reach with mergers and partnerships. Robust R&D and new product launches that address the existing concerns of end users are being witnessed in this space.
- In Nov 2021, ADM acquired U.S.-based Deerland Probiotics and Enzymes, which specializes in developing dietary supplements that benefit human microbe health.
- In August 2021, Intralytix was awarded a Fast Track NIH SBIR contract to create a global scale-independent AI-based platform for producing high titer bacteriophage preparations for clinical applications.
Market Development
Despite challenging economic conditions, the business environment in the bacteriophage market still reflects a rollup within the sector. Market leaders such as Life Extension, Arthur Andrew Medical, ADM, and Biochimpharm are competing for market domination in the bacteriophage space.
Technological advancements by key players for bacteriophage product launches are expected to drive sales across the globe. Due to rising incidence of food-borne infections, companies are investing in R&D to provide products that contain bacteriophage. Key market players are maintaining a prominent position in the market through mergers & acquisitions, expanding distribution channels, and introducing new products to meet the demands of the expanding healthcare sector.
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global bacteriophage market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.
The study reveals essential insights on the basis of product type (phage probiotics, phage therapeutics), route of administration (oral, tropical, others), application (gastroenterology, respiratory infection treatment, skin infection treatment, wound prophylaxis, urogenital infection treatment, others), and distribution channel (retail pharmacies, hospital pharmacies, online pharmacies), across major regions of the world (North America, Latin America, Europe, East Asia, South Asia & ASEAN, Oceania, and the Middle East & Africa).
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