The global biodefense market is expected to reach USD 7.97 Billion by 2027, according to a new report by Reports and Data. Biodefense involves the use of medical procedures to safeguard individuals against bioterrorism. Biodefense comprises interventions like drugs and vaccinations along with research and public health preparations to countermeasure bioterrorism.
Supportive government initiatives in medical countermeasure preparedness against biological threats are a significant factor estimated to stimulate market demand during the forecast period. Governments across the globe, especially in developed countries, make massive funding every year for the R&D of vaccines to thwart any biological threat. The Biomedical Advanced Research and Development Authority (BARDA), a part of the U.S. Department of Health and Human Services’ Office of the Assistant Secretary for Preparedness and Response, was established in 2006 to help keep the nation safe from chemical, biological, radiological, and nuclear (CBRN) threats, along with a focus on pandemic influenza (PI) and emerging infectious diseases (EID). The initiatives of governments worldwide open a window of opportunities for the firms involved in the biodefense sector.
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In 2001, a week after the 9/11 attacks, members of the media and certain politicians received letters laced with anthrax spores. The bioterror attack infected 17 people and caused death to 5 people. In the event of further occurrence of such kind of attacks, various organizations are putting in efforts to reduce threats and to improve civilian and military preparedness, defense, and response capabilities. NIAID biodefense research priorities comprise basic research, genomics research, the expansion of research infrastructure, and the development of new diagnostics, therapies, and vaccines to protect civilians against biological threats.
Additionally, rapid technological advancements coupled with increased investments in biodefense activities, especially in developed countries, is anticipated to boost market demand in the future.
However, low market penetration of these products in developing and underdeveloped nations may create hindrances in the growth of the market in the forecast period.
Further key findings from the report suggest
- Anthrax vaccines contributed to the largest market share in 2019 and are expected to have a CAGR of 4.1% while maintaining its dominance throughout the forecast period. Its growth is attributed to increasing expenditure by governments across the globe to develop and store sufficient vaccines against anthrax.
- The civilian segment is anticipated to account for a significant share of the market during the forecast period.
- North America held the largest market share of over 70% in 2019 and is expected to witness a growth rate of 4.2% in the forecast period. The U.S. government implements several initiatives that assist them in reinforcing security against biological threats.
- Moreover, several programs focused on preparedness and prevention of intentional or accidental releases of biological agents will fuel the market growth in the forecast period.
- Key participants include Altimmune, Emergent BioSolutions, SIGA Technologies, Elusys Therapeutics, Ichor Medical Systems, DynPort Vaccine Company, Cleveland BioLabs, Bavarian Nordic, Achaogen, and Alnylam Pharmaceuticals, among others.
- In March 2019, Emergent BioSolutions, a significant company in the market, announced to begin a Phase 3 trial of AV7909, a new anthrax vaccine. The Phase 3 trial will assess the immunogenicity, lot consistency, and safety of the vaccine. AV7909 is intended to produce a faster immune response than other anthrax vaccines that are currently available.
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For the purpose of this report, Reports and Data has segmented the global biodefense market on the basis of product type, application, sales channel, and region:
Product Type Outlook (Revenue, USD Million; 2017-2027)
- Anthrax Vaccine
- Small Pox Vaccine
- Botulism Vaccine
- Radiation Vaccine
Application Outlook (Revenue, USD Million; 2017-2027)
Sales Channel Outlook (Revenue, USD Million; 2017-2027)
- Direct Sales
Regional Outlook (Revenue, USD Million; 2017-2027)
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/biodefense-market
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