Market Size in 2021 | Market Forecast in 2030 | CAGR (in %) | Base Year |
---|---|---|---|
USD 42.1 Million | USD 60.71 Million | 4.50% | 2023 |
FrequentlyAsked Questions
The global bacteriophage therapy market is projected to expand over 2022-2030 owing to a low toxicity and ease of production of bacteriophage which makes it a more preferrable mode of treatment for bacterial infection. Furthermore, bacteriophages are used as biocontrol agents and find slew of applications in microbial source tracking and fecal indicators.
According to study, the global bacteriophage therapy market size was $42.1 million in 2021 and is projected to reach $60.71 million by the end of 2030 with a compound annual growth rate (CAGR) of roughly 4.5% between 2022 and 2030.
The global bacteriophage therapy market is anticipated to be dominated by the North American region in the coming years owing to the rise in antibiotic resistance witnessed among patients who were affected by viral infections such as COVID-19 and other bacterial infections in the countries such as the U.S.
The global bacteriophage therapy market is led by players like PhagePro, Inc., TechnoPhage SA, Eligo Bioscience SA, Armata Pharmaceuticals, Inc., ContraFect Corporation, Eliava Biopreparations Ltd., Fixed-phage Ltd., Pherecydes Pharma, BiomX Ltd., Adaptive Phage Therapeutics, Intralytix, Inc., Phagelux, Inc., Nextbiotics, InnoPhage, Ltd, Phi Therapeutics, Locus Biosciences, Inc., Micreos BV, Intodeworld, Inc., Phagomed Biopharma GmbH., Enbiotix, Inc., and OPTIPHARM Co., Ltd.
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