Bacteriophage Therapy Market Size, Industry Share | Forecast 2028

According to Precision Business Insights (PBI) latest report, the global bacteriophage therapy market size is valued at USD 1,242.0 million in 2021, growing at a CAGR of 3.5% during the forecast period 2022-2028. Bacteriophage enable biological agents to combat and eradicate multidrug-resistant bacteria. Phages can eliminate the bacteria that is causing infection when all other antibiotics have failed to treat it, permitting medical experts to save lives. In the US, there are over 2.5 million antibiotic-resistant illnesses, and these infections cause 30,000 patient deaths annually. As antibiotic resistance increases globally, illnesses, as well as fatalities, are getting harder to treat and antibiotics are becoming less and less effective. For instance, the World Health Organization has deemed carbapenem-resistant gram-negative infectious diseases as a concerned pathogen, necessitating the development of new antibacterial medications.

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The Bacteriophage Therapy Market Growth Factors:
Probiotics called Bacteriophage Therapy are becoming more and more well-liked worldwide. Phage probiotics are a more effective replacement for conventional probiotic pills. Probiotics called Bacteriophage Therapys help to promote gut health. These advantages have led to a major increase in the usage of Bacteriophage Therapys in gastroenterology. There are many different types of bacteria living in the human gastrointestinal (Gl) tract. Due to increasing scientific research for therapy development, increasing production of antibiotic-resistant infections, and rising industry implementation of growth strategies like acquisitions and partnerships, the Bacteriophage Therapy market is anticipated to rise at a significant rate. Additionally, during the anticipated term, the market for Bacteriophage Therapy therapy will have slower growth due to its high cost. The market for Bacteriophage Therapy therapy will encounter difficulties because of a strict regulatory environment and a lack of healthcare systems in developing economies. The existence of alternatives and a lack of consumer knowledge could further slow the market's expansion during the projected timeframe.

The Bacteriophage Therapy Market Segmentation:
The global Bacteriophage Therapy Therapy Market on the basis of Type is bifurcated into Lytic, and Lysogenic. On basis of Application, the market is categorized into Diagnostic, Antimicrobial Drug Discovery, Veterinary Medicines, and Others. On the basis of End-User, the market is divided into Hospitals & Clinics, Academic Research Organizations & Institutes, and Others.

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The Bacteriophage Therapy Market Regional Analysis:
As a result of increased funding for innovative R&D for new drug products in this region, Asia-Pacific is anticipated to experience the quickest growth over the projection period. Furthermore, the market's rate of growth in this region will be accelerated by increased government activities and the construction of healthcare infrastructure. The Asia Pacific market is expanding quickly because of a rapidly expanding biotechnology infrastructure, changing agricultural practices, and equally supportive government initiatives.

Key players in the bacteriophage therapy market report are agamatrix, companion medical, validic, propeller health, zte corporation.

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