Bacteriophage Therapy Market to grow at a significant rate during 2020-2027, owing to rising prevalence of antibiotic resistant infection Coherent…

Posted: May 20, 2020 at 4:43 am

SEATTLE, May 19, 2020 (GLOBE NEWSWIRE) -- Increasing incidence of antimicrobial-resistance is expected to drive growth of the bacteriophage therapy market during the forecast period. For instance, according to Centers for Disease Control and Prevention (CDC), around 2 million people suffer from antibiotic-resistant infection, and at least 23,000 people die each year in the U.S.

Rising funding for research and development of bacteriophage therapies is expected to drive the market growth. For instance, in August 2018, Phagomed Biopharma Gmbh. announced that their alternative therapies to combat antibiotic-resistant bacteria, has obtained grants worth US$ 4.67 million for developing virus(phage) based therapies against bacterial infections. The grant will be used to continue pre-clinical development of three drug candidates.

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Increasing government funding is supporting phage therapy manufacturers to develop innovative approach in order to reduce incidence of antimicrobial-resistant infections is expected to propel the market growth. For instance, in January 2016, National Institute of Allergy and Infectious Diseases (NIAID), a part of the National Institutes of Health, has awarded US$ 5 million for 24 research projects to develop non-traditional therapeutics such as bacteriophage or phage therapy and others therapies for the treatment of bacterial infections

Furthermore, increasing acquisitions and partnership agreements by players are expected to propel the market growth over the forecast period. For instance, in July 2019, Pherecydes Pharma entered a collaborative agreement with France-based, Bioaster Technology Research Institute (TRI) for microbiology and infectious diseases, to explore the use of phage therapy for treating complicated urinary tract infections. Under this collaboration, Pherecydes Pharma and Bioaster initiated PhagUTI project.

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Key Market Takeaways:

Key players operating in the global bacteriophage therapy market include

Armata Pharmaceuticals, Inc., Eliava Biopreparations Ltd., Pherecydes Pharma, Intralytix, Inc., Phagelux Inc., Nextbiotics, InnoPhage, Ltd, Locus Biosciences, Inc., TechnoPhage, Eligo Bioscience SA, Phagomed Biopharma GmbH., PhagePro, Inc., Adaptive Phage Therapeutics, Inc., EnBiotix, Inc., Intodeworld, Inc., BiomX Ltd., Phi Therapeutics, Fixed-phage Ltd., Micreos BV, and ContraFect Corporation.

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Bacteriophage Therapy Market to grow at a significant rate during 2020-2027, owing to rising prevalence of antibiotic resistant infection Coherent...

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