Phage Therapy Market : Embracing Size Expansion with 18.29 % CAGR Surge by 2031

InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Phage Therapy Market- by Product(Oral, External Application and Surgical Treatment), Application (Human Medicine, Veterinary Science and Others (Agriculture, dentistry, etc.)), Trends, Industry Competition Analysis, Revenue and Forecast To 2031."

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According to the latest research by InsightAce Analytic, the globalPhage Therapy market is expected to reach US$ 116.6 Million by 2028, with a CAGR of 18.29 % during a forecast period of 2023-2031.

Bacteriophages, also referred to as phage therapy, are specific to the bacteria they infect and do not harm other healthy bacteria already present in the body. They also have an impact on the body's microbial ecosystem. Patients can get bacteriophages throughvarious methods, including oral consumption, external application, and surgical treatment. Phages are naturally non-toxic because they are mostly composed of nucleic acids and proteins. Bacteriophages are simple to find and versatile in formulation development, allowing them to be combined with other antibiotics.

The main factors driving the growth of the phage therapy market are the use of phage therapy in the food and beverage industry, the application of bacteriophages specific to target bacteria, extensive research and development, and rising antimicrobial resistance. Other important factors include the prevalence of food-borne diseases and antibiotic resistance. Since it can harm people of any age, antibiotic resistance is currently one of the most considerable risks to global health.

Antibiotic resistance is brought on by improper and excessive use of antibiotics. Therefore, scientists worldwide anticipate that modernized bacteriophages or phage treatments will eventually replace conventional antibiotics. Phage therapy may be a good alternative for patients allergic to antibiotics because very few people have such a condition. The lack of trained technicians, professionals, and specialists in the industry is the main factor restricting the growth and extension of the global phage therapy market. Another factor limiting market expansion is the high risk of product failure in the drug development industry. Advanced bacteriophage platforms are being developed by several firms involved in the bacteriophage therapy market. Additionally, the growing patient population in the healthcare industry is creating blooming potential in the worldwide bacteriophage market, thanks to the emerging economy.

North America is anticipated to contribute to the Phage Therapy market. The main driver of market growth is the rising demand for probiotic supplements to enhance gut health by employing phage probiotics. Furthermore, the nation's leading manufacturers are eager to increase the market reach of their flagship goods and services. For this, many top manufacturers today also provide cutting-edge phage therapy-based solutions. In addition, the Asia PacificPhage Therapy market is expected to register significant growth. Phage therapy has attracted increased interest as antibiotic treatments fail to effectively treat infections like multidrug-resistant Staphylococcus aureus. Phage treatment research is constantly being conducted with pharmaceutical corporations and government institutions, which has greatly increased the potential for phage therapy in this area.

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Major market players operating in the Phage Therapy market include
Armata Pharmaceuticals, Inc., Adaptive Phage Therapeutics, AmpliPhi Biosciences, BiomX (MBcure Ltd.), C3J Therapeutics, Enbiotix, Eligo Bioscience, Intralytix, Inc., InnoPhage, iNtODEWorld, Locus Biosciences, MicroPhage, Inc., Phage International, PhagoMedBiopharma GmbH, PherecydesPharma SA, TechnoPhage, Phagelux, SNIPR BIOME, and Microgen Russia.

Recent collaborations and agreements in the market:
• In 2020, a new e-Commerce site for Optibac probiotics was launched by Ridgeway, a digital firm, to increase consumer compliance and repeat purchases of phage therapy supplements.
• In 2019, IntraLytix Inc. created various innovative phage therapies against Shigella intended for human ingestion and numerous phage preparations for directly eliminating harmful bacteria.

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Market Segments
Global Phage Therapy Market, by Product, 2023-2031 (Value US$ Mn)
• Oral
• External Application
• Surgical Treatment

Global Phage Therapy Market, by Application, 2023-2031 (Value US$ Mn)
• Human Medicine
• Veterinary Science
• Others (Agriculture, dentistry, etc.)

Global Phage Therapy Market, by Region, 2023-2031 (Value US$ Mn)
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

North America Phage Therapy Market, by Country, 2023-2031 (Value US$ Mn)
• U.S.
• Canada

Europe Phage Therapy Market, by Country, 2023-2031 (Value US$ Mn)
• Germany
• France
• Italy
• Spain
• Russia
• Rest of Europe

Asia Pacific Phage Therapy Market, by Country, 2023-2031 (Value US$ Mn)
• India
• China
• Japan
• South Korea
• Australia & New Zealand

Latin America Phage Therapy Market, by Country, 2023-2031 (Value US$ Mn)
• Brazil
• Mexico
• Rest of Latin America

Middle East & Africa Phage Therapy Market, by Country, 2023-2031 (Value US$ Mn)
• GCC Countries
• South Africa
• Rest of Middle East & Africa

Why should buy this report:
 To receive a comprehensive analysis of the prospects for the global Phage Therapy market
 To receive an industry overview and future trends of thePhage Therapy market
 To analyzethe Phage Therapy market drivers and challenges
 To get information on the Phage Therapy market value (US$ Mn) forecast to 2028
 Significant investments, mergers &acquisitions in the Phage Therapy marketindustry

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