Antibiotic resistance is becoming more common around the world, which is driving up demand for effective alternatives.
Antibiotic-resistant bacterial infections kill roughly 33 000 people in Europe each year, according to the CDC. Antibiotic resistance is predicted to increase globally, creating considerable demand for bacteriophages.
This is a fact.
· In its most recent research study, MR examines global bacteriophage sales in 20+ high-growth markets, with Europe and North America being the two largest regional markets.
· Phage probiotics are in high demand, with the highest demand coming from patients worldwide with the highest sales coming from retail and hospital pharmacies.
· The paper includes a comprehensive review of some of the significant difficulties and distinctive growth variables and a detailed discussion of bacteriophage. The influence of COVID-19 on the bacteriophage market is also discussed in the paper.
Future Growth Prospects Appear to Be Positive
· The global bacteriophage market was worth roughly US$ 39 million in 2019, and it has grown at a CAGR of just over 3% over the last five years. The use of bacteriophage at phage research facilities and bacteriophage supplements has increased as inpatient care has increased.
What Impact Will Increased Expenditure and Funding Have on R&D Activities and Bacteriophage Demand Growth?
· Antibiotic resistance treatment techniques and solutions are constantly being developed to improve patient safety, a major driver driving market growth. Market expansion is expected to be fueled by increased government funding to assist phage treatment manufacturers in finding a novel way to reduce antimicrobial-resistant infection cases.
· For example, the National Institute of Allergy and Infectious Diseases (NIAID), part of the National Institutes of Health, was awarded $5 million in January 2016 for 24 research projects to develop advanced therapies for bacterial infections such as bacteriophage therapy and others.
The majority of biopharmaceutical firms are concentrating on phage-based medicines.
· IntraLytix Inc., for example, created many phage preparations for the direct elimination of pathogenic bacteria in 2019 and numerous innovative phage therapies against Shigella deliberate for eating.
Why is it that Online Pharmacies are gaining traction in this market?
· The rise of e-Commerce is increasing the popularity of online pharmacies. To make phages and phage therapy accessible to people worldwide, most biotech businesses are focusing on putting up online storefronts of bacteriophage preparations.
· For example, Biorchimpharm, a global pioneer in bacteriophage technology, recently launched the much-anticipated e-Commerce website as the first online store dedicated to increasing phage and treatment supplement sales. Currently, the page is in a test state.
· Ridgeway, a digital firm, built a new e-Commerce site for Optibac probiotics in 2020 to increase customer compliance and recurring phage therapy supplements.
What are the Biggest Obstacles for Bacteriophage Advocates?
· Commercial manufacturing of therapeutic phages has been hampered in most Western countries due to a lack of safety and efficacy data for phage formulations and the emergence of antibiotics.
· Although many businesses have phage treatments in their development pipelines, phage treatments have not yet been approved for use in humans. Only a few nations in Europe manufacture and employ phage therapies, and they are only available for use as “compassionate phage therapy.”
· Bacteriophages are very rarely used. There is no direct toxicity associated with the use of phage therapy. Furthermore, it is unknown if phage therapy causes microorganisms to develop phage resistance.
· On the other hand, these variables provide manufacturers with chances to invest in the development of innovative phage therapies with sufficient clinical data.
What Impact Will Regulatory Changes Have on Bacteriophage Sales Around the World?
· There is currently no specific regulation for bacteriophage therapy. Phages have been classified as a drug in the United States and as a medical product in the European Union since 2011.
· Phages are described by the European Medicines Agency (EMA) as a drug or mixture of chemicals used to treat, diagnose, or prevent disease and restore, correct, or modify physiological functioning by immunological, pharmacological, or metabolic activity.
What Is Bacteriophage Probiotics’ Potential?
· Bacteriophage probiotics are becoming more popular around the world. Other probiotic supplements pale in comparison to the development of phage probiotics.
Probiotics called Bacteriophages aid with intestinal health. The use of bacteriophages in gastroenterology has risen dramatically as a result of these benefits.