The latest market report published by Credence Research, Inc. “Bacteriophage Market – Growth, Future Prospects, Competitive Analysis, 2018 – 2026,” the global bacteriophage market was valued at US$ 567.9 Mn in 2017 expanding at a CAGR of 3.9% from 2018 to 2026.
Recently, bacteriophages or phages have been recognized as an efficient tool in modern biotechnology through a multitude of researches advocating the potential usage of bacteriophages across several applications. Researchers have also proposed bacteriophages as a viable alternative to antibiotics for several antibiotic-resistant bacterial strains. They can also be used as biocontrol agents in petroleum and agriculture industry. Bacteriophages have unique application in the petroleum industry as bacterial fouling often leads to serious damage to gas pipelines, devaluating the products and therefore increasing capital expenses. Additionally, bacteriophages can also be used as vaccine vehicles, for detection of pathogenic bacterial strain and as display systems (phage displays) for several antibodies and proteins. Bacteriophages present a diverse group of viruses that can be conveniently manipulated and thus have significant application in research, therapeutics and biotechnology. Phages not just control the bacterial population, but also contribute to moving genes from one bacterium to another. Therefore, the study of bacteriophage particles offers insights into genome evolution, bacterial evolution, DNA expression and copying, and thus development of new biotechnologies. Globally, the incessant growth in bacterial resistance to majority of antibiotics is becoming a new driving factor for phage therapy that uses lytic phage particles as these entities are devoid of metabolic operation and do not have affinity to eukaryotic cells. Furthermore, utilization of bacteriophage particles in phage vaccination is also emerging as one of the promising preventive strategies currently under research. Other major areas where bacteriophages are finding renewed focus are bacterial biosensing devices, phage-display based selection of biological affinity molecules, food biopreservation, food safety, biocontrol of plant pathogens, corrosion control and biofilm control
Considering the product types, global bacteriophage market categorized into ssDNA (single strand DNA) bacteriophage, dsDNA (double strand DNA) bacteriophage and ssRNA (single strand RNA) bacteriophage. In 2017, dsDNA bacteriophage occupied largest share in the global market, and anticipated to continue its lead throughout the forecast period from 2018 to 2026. Majority of the cultivated viruses that have potential in culminating the widest range of bacteria are dsDNA, therefore dominating the global market. dsDNA bacteriophage also have a wide applicability in phage display technologies.
In terms of geography, North America held the largest share in the global bacteriophage market due to prominent phage entities in the U.S., faster and first in the world commercialization process in the region, and significantly large patient pool suffering with bacterial infections and growing incidence of anti-biotic resistance. Moreover, established use of bacteriophages in the areas of environment and food and evolved research infrastructure with several initiatives being undertaken introducing breakthrough technologies will further drive the market during the forecast period. Asia Pacific is projected to witness the fastest progress in the global market due to rapidly evolving biotechnology infrastructure, evolving agriculture practices, and equally supportive government initiatives. The key players currently engaged in bacteriophage market include Federal State Scientific Industrial Company MICROGEN, AmpliPhi Biosciences Corporation, EnBiotix, Phage Biotech Ltd., Fixed-Phage Limited, InnoPhage, Pherecydes Pharma, TechnoPhage SA, VersatileBio among others.
The complete report is available at https://www.credenceresearch.com/report/bacteriophage-market
Key Market Movements:
- Growing R&D and funding for investigating bacteriophage therapy for clinical application
- Ongoing clinical trials for bacteriophage therapy for multidrug resistant bacterial infections and regulatory approvals for the same
- Increasing applications of bacteriophage in food, environment and veterinary applications
- Ongoing research for establishing bacteriophage as an effective vaccine delivery system