Biodefense Market Size to Reach USD 8.32 Billion by 2028 – Report and Data
Government funding for preparedness of bioterrorist attacks is a key factor that would drive global market growth
The global biodefense market size is expected to reach USD 8.32 Billion in 2028 and register a CAGR of 4.4% over the forecast period, according to the latest report by Reports and Data. Global market revenue growth will be driven by key factors such as growing focus of public health services to develop tests and procedures and to deal with the increasing threat of bioterrorism.
Biodefense is a set of military or medical measures taken to protect people against bioterrorism. An attempt to deliberately release bacteria, viruses or other pathogens, to spread disease is called bioterrorism. Biodefense includes medical research, medications and vaccines against possible bioterrorist attacks along with rising awareness about biodefense among civilians. Factors such as training human resource specialist, introduction of biological identification systems, developing various strategies to protect soldiers on the battlefield are boosting global market revenue growth. Rising prevalence of Zika virus, Ebola virus, and influenza is enhancing market prospects. Advancements in genetic engineering and biotechnology, increasing investments in research and development activities along with rising incidence of various infectious diseases is fueling global market growth.
Over 2020-2021, the world is at war with the SARS-Cov-2 virus. With increasing speculation that the virus might have been leaked from a lab in China, authorities around the world are becoming more concerned about how such cases can be handled better in the future. Ironically, developing biodefence systems can often lead to such leaks in the first place. Over the years, there have been at least a dozen lab-leaked outbreaks of dangerous viruses, one of which, the 1976 swine flu strain spread over the globe. In 2012, the US government issued a moratorium on “gain of function” research, in which scientists tamper with viruses to see what makes them more lethal or transmissible, in part in reaction to biosecurity concerns. In 2016, the ban was lifted. But such moves can ultimately restrain market growth in coming years.
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Key highlights in the report:
- On the basis of product, the market for biodefense is segmented into anthrax, smallpox, botulism, radiation/ nuclear, and others. Among the product segments, the botulism vaccine segment is expected to register fastest CAGR throughout the forecast period. Botulinum toxin is reported to cause neuroparalytic illness with respiration failure.
- North America is expected to domain other regional markets in the global biodefense market over the forecast period. Increasing government initiatives for strengthening security against bioterrorism attacks, technological advancements in biotechnology and genetic engineering, increasing public awareness and presence of key players are some key factors boosting market growth.
- BARDA, HHS, CDC, NIAID and FDA are some of the key organizations in United States that play an important role in developing strategies and initiatives for the region.
- The market in Asia Pacific is projected to register fastest revenue CAGR throughout the forecast period. Rapid revenue growth is attributed to factors such as increasing investments in research and development activities, advancements in genetic engineering and biology, improving healthcare infrastructures, increasing incidence of biological threats.
- Key players in the global biodefense market include Altimmune, Emergent BioSolutions, SIGA Technologies, Elusys Therapeutics, Ichor Medical Systems, DynPort Vaccine Company, Cleveland BioLabs, Bavarian Nordic, Achaogen, and Alnylam Pharmaceuticals
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For this study, Reports and Data has segmented the global assisted biodefense market based on product, application, sales channel and region:
Product Type Outlook (Revenue, USD Billion, 2018 - 2028)
- Small Pox
Application Outlook (Revenue, USD Billion, 2018 - 2028)
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Regional Outlook (Revenue, USD Billion, 2018 - 2028)
- North America
- Rest Of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
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