Phage therapy industry is experiencing huge research and development activities to develop products for different diseases and applications.The global phage therapy market is under development with no FDA-approved products. In the current scenario, natural phage-based products and compassionate phage therapy (CPT) are available in the market, which comprises current market revenue. Players such as Microgen (Russia), Duopharm (Germany), SES DERMA (Peru), BIOMED PERM NPO (Russia), and Phage Therapy Center are offering treatment for patients with chronic infectious diseases. However, the global phage therapy market has a tremendous opportunity to grow during the forecast period. The global phage therapy market size is expected to reach US$ 116.6 million by 2028, growing at a CAGR of 18.9% over the forecast period. By region, Europe dominates the market with a share of 57.0% of the global phage therapy market. Russia and Germany are the key markets holding the majority of the market for phage therapy in the region.
The market has reputed players across the globe with massive investment in clinical trials/ R&D activities. Clinical trial/product development companies in the market form strategic alliances with key pharmaceutical vendors to seek investment and tap potential markets in upcoming forecast years. Strategic alliances with contract manufacturers, the scientific community, and policymakers will enhance the development of phage therapy for clinical trials companies. The rapid increase in investment in the phage industry has been seen in recent years due to significant market opportunities in upcoming years.
The global phage therapy market is segmented on the basis of product, application, and region. Based on the products, the market is divided into oral, external application, and surgical treatment. On the basis of application type, the market is segmented into Human Medicine, Veterinary Science, and Others (Agriculture, dentistry, etc.). Based on region, the market is studied across North America, Asia-Pacific, Europe, and LAMEA. Among that, Europe held the largest share of the market, followed by America and the Asia Pacific. On the other hand, North America is expected to dominate the market during the analysis of the forecast period.
The key players of this market include Armata Pharmaceuticals, Inc., Adaptive Phage Therapeutics, AmpliPhi Biosciences, BiomX (MBcure Ltd.), C3J Therapeutics, Enbiotix, Eligo Bioscience, Intralytix, Inc., InnoPhage, iNtODEWorld, Locus Biosciences, MicroPhage, Inc., Phage International, PhagoMed Biopharma GmbH, Pherecydes Pharma SA, TechnoPhage, Phagelux, SNIPR BIOME, and Microgen Russia.