Bacteriophage Therapy Market Size, Share, Growth, Trends, and Global Industry Analysis: By Type (Lytic, Lysogenic), By Application (Diagnostic, Antimicrobial Drug Discovery, Veterinary Medicines, Others), By End-User (Hospitals & Clinics, Academic Research Organizations & Institutes, Others) and Region  

Bacteriophage therapy market size was valued at US$ 1,242.0 million in 2023 and is poised to grow at a CAGR of 3.5% from 2024-2030. Phages, also called bacteriophages are viruses that attack and target bacteria exclusively. They're one of the most frequent biological entities capable of fighting and killing multi-drug resistance bacteria. When all other antibiotics have failed to treat an illness, phages can eliminate the bacteria that are causing the infectious disease, allowing medical practitioners to save a life. Bacteriophages are being looked at as a possible antibiotic option. Viruses are utilized in this therapy to insert their genetic material into bacteria and grow using their host machinery. This phage therapy is utilized in the body of patients to treat or prevent bacterial illnesses.

Bacteriophage therapy is also important in the disciplines of molecular biology and technological research. These characteristics broaden the possibility of medication development. Significant research and development activities in the market are supporting the industry's expansion. For example, the United States Food and Drug Administration acknowledged an Investigational New Drug application from health professionals at the University of California San Diego School of Medicine in January 2019 to perform the first U.S. clinical trial of a bacteriophage-based medication intravenous administration. The planned experiment will be carried out in partnership with AmpliPhi Biosciences Corporation, a biotechnology firm based in San Diego.

As per the World Health Organization (WHO), about 550 million people (almost one out of every ten people on the planet) will become ill and 430,000 will die as a result of contaminated food in 2019, resulting in the loss of 34 million healthy life years (DALYs). Additionally, the COVID-19 pandemic is posing significant challenges to companies in the worldwide bacteriophage therapy market on multiple fronts. The source of raw materials for creating medication inventions is a serious concern because to transport facility variations. Also, owing to a rise in several patients suffering from Coronavirus and other lethal conditions, goods distributors are seeing erratic demand from retailers.  

Bacteriophage Therapy Market Key Developments

In January 2018, Pherecydes Pharma raised US$ 10.3 Mn Series B funding led by GO CAPITAL, ACE Management, and Auriga Partners to enter the clinical trials novel bacteriophages PHOSA for the treatment of  Staphylococcus aureus infection and PNEUMOPHAGE for the treatment of Pseudomonas aeruginosa respiratory tract infections.