The global bacteriophage market is expected to grow at compound annual growth rate (CAGR) of 4.5%.
Raise in incidence of antimicrobial resistance will lead to growth in Bacteriophage market in the upcoming years.
According to Centers for disease control & prevention CDC at least 23,000 of people in the United States & around 33,000 people in Europe die due to antibiotic resistant infections. With increasing inpatient care there has been a rise in the adoption of bacteriophage in phage research centers, along with bacteriophage supplements. Bacteriophage is also known as phage therapy and it needs viruses for the medication of bacterial infections. Bacterial viruses are called phages or bacteriophages.
Bacteriophages are supposed to be natural antagonists of bacteria and are found in soil, water, sewage & other places where bacterias are exposed, they do not infect human. With the recent advances in technology, particularly the ability to elucidate genome sequences of bacterial hosts, there has been a renewed interest in phages.
Traditionally, phages have been considered as a nuisance in the industrial processes that depend on bacterial fermentation. Since the discovery of bacteriophages, many researchers have considered their potential as therapeutic agents. After the World War II, when antibiotics were discovered, the natural potential of bacteriophages received little attention and was considered only as a research tool.
Bacteriophages have significantly contributed in the field of biotechnology and molecular biology and are still playing an important role. Today, their potential to be used as phage display systems, antibacterials, vehicles for vaccines and biocontrol agents, and the attention towards bacteriophages is rekindled.
Increasing R&D is Expected to Multiply Revenues
The Bacteriophage market is expected to grow at a significant rate due to rising manufacturing of antibiotic resistant infection, rising research activities for development of therapies, increasing adoption of growth strategies such as acquisitions, and collaborations by market players.
Emergence of e-Commerce is increasing the share of pharmaceuticals companies. Most companies are focusing on setting up online stores of Bacteriophage preparations to make phages and phage therapy available across the world. The Bacteriophage must be treated with safety precautions & there is no data related to these methods.
Increasing government funding to support phage therapy manufacturers in developing an innovative approach to decrease antimicrobial-resistant infection cases is anticipated to boost market growth.
Food & Beverages Display Highest Share by Application in Bacteriophage Market
At present food & beverages occupy the largest revenue share in the global bacteriophage market. Bacteriophages find the widest application in food biocontrol and present as a natural and green method that uses lytic bacteriophages derived from the environment to target pathogenic bacteria.
Since the initial conception of the use of bacteriophages on foods, additional research are also being conducted for using bacteriophage to target pathogenic bacteria in ready to eat meals, fresh fruits, dairy products and vegetables. This has led to increase in approved products containing bacteriophages for food safety applications.
Clinical applications of bacteriophages will witness the fastest market growth during the forecast period. Increased use of bacteriophages in diagnostics, phage display technology and potential use in drug discovery and development are the main attributes to the fast growth of this segment.
“Bacteriophage Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2021 to 2029”
This technology will keep booming due to the fact that its so efficient
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