Excessive antibiotics consumption is leading to an upsurge in numerous gastrointestinal disorders, prompting increased bacteriophage products uptake
ROCKVILLE, MD / ACCESSWIRE / February 22, 2021 / Award winning market research company Fact.MR has published the global bacteriophage market research report. According to the study, the market exhibits high growth potential, expected to yield credible gains through 2021. Long-term prospects also appear positive, with a predicted CAGR exceeding 4% through 2031.
The market was valued at approximately US$ 39 million in 2019, with surging applications in gastroenterology underpinning growth. A study conducted by the University of Gothenburg has established that nearly 40% of adults suffer from at least one functional gastrointestinal disorder, with disorders such as inflammatory bowel diseases being highly prevalent. Excessive reliance on antibiotics has led to a surge in antimicrobial resistance, causing numerous GI problems.
According to the World Health Organization, the rate of resistance such as ciprofloxacin ranges between 8.4% and 92.9% for E. coli, and from 4.1% to 79.4% for K. Pneumoniae. Hence, the medical fraternity is investigating alternative treatment approaches, leading to heightened prospects for bacteriophage based supplements. Manufacturers are augmenting their research capacities, increasing the frequency of clinical trials and funding studies by establishing international level coalitions.
"Growing emphasis on maintaining gut microbiome health is prompting increased consumption of bacteriophage infused supplements and medicines. Recent government legislations such as the emergency investigational new drug (eIND) pathway by the US FDA have enabled healthcare settings to incorporate bacteriophage products in their diagnostics and treatment procedures," remarks a Fact.MR analyst.
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Key Takeaways from Fact.MR's Bacteriophage Market Study
- By product, phage probiotics to enjoy an elevated market share, capturing over 9 out of 10 sales in 2021
- Gastroenterology to remain key bacteriophage therapeutics application area, owing to surging digestive tract disorders
- Oral bacteriophage products administration to remain highly preferred through 2021
- By distribution channel, retail and hospital pharmacies to emerge as the primary bacteriophage selling points
- US to experience high growth in bacteriophage sales, amid recent FDA approvals for the oral ingestion of bacteriophage cocktails in dietary supplements
- Increasing frequency of inhaled phage therapy to heighten growth prospects across the UK
- India, Russia & Georgia to emerge as lucrative bacteriophage markets amid accelerating research and development for determining efficacy of such products
Bacteriophage Market- Prominent Drivers
- The global bacteriophage market is driven by unceasing research & development activities for discovering novel treatment approaches
- Growing burden of antibiotic resistance is prompting patients to opt for safer alternatives, accelerating growth prospects
- Increasing global level coalitions amongst prominent manufacturers to accelerate bacteriophage development to stimulate further growth
Bacteriophage Market- Key Restraints
- Non-approval for human consumption by regulatory authorities due to perceived lacunae in effectiveness to restrain growth
- Uncertainties regarding potential mutations of bacteria strains leading to phage resistance development to limit commercial availability
Discover more about the bacteriophage market with 111 figures and 40 data tables, along with the table of contents. You will also find detailed market segmentation on https://www.factmr.com/report/bacteriophage-market
Life Extension, Arthur Andrew Medical, Deerland Probiotics & Enzymes Inc., BioChimPharm, Micreos Human Health, Designs for Health, Accelerated Health Systems Inc., The Biostation, Probiotic America and Microgen are some prominent bacteriophage manufacturers included in Fact.MR's report. Development of novel phase therapies to cater to specific healthcare requirements.
Life Extension, for instance, manufactures the FLORASSIST® GI probiotic formula for ensuring the best digestive probiotic benefits. Being gluten free, non-GMO and vegetarian, the formula targets unwanted bacteria with a novel bacteriophage blend with various healthy probiotic strains.
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In 2019, BioChimPharm received a grant from the Georgian Innovation and Technology Agency for its PowerPhage veterinary antimicrobial. The product is highly effective in fighting harmful bacteria such as Salmonella, E. coli and Shigella, eliminating them without harming the beneficial microflora of the organism.
More Insights on the Bacteriophage Market
The research study on the bacteriophage market by Fact.MR incorporates an unbiased assessment of key demand-driving factors and trends. Market statistics have been presented based on product (phage probiotics and phage therapeutics), route of administration (oral, topical, and others), application (gastroenterology, respiratory infections treatment, skin infection treatment, wound prophylaxis, urogenital infection treatment, and others), and distribution channel (retail pharmacies, hospital pharmacies, and online pharmacies), across seven regions - North America, Latin America, Europe, South Asia, East Asia, Oceania, and the Middle East & Africa.
Key Questions Answered in the Report
- How is the bacteriophage market expected to assume shape in 2021?
- Why is Russia expected to emerge as a lucrative bacteriophage market?
- What drivers are expected to underpin future market outlook?
- Which restraints are expected to hamper the bacteriophages market growth?
- How are regulatory frameworks expected to influence market growth?
- Which are the prominent bacteriophage market players?
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