The global biodefense market size is expected to reach USD 32.80 Billion in 2030 and register a revenue CAGR of 8.7% over the forecast period, according to latest report by Reports and Data. Steady revenue growth of the biodefense market can be attributed to several factors, such as supportive government initiatives, rapid technological advancements, and rising awareness about biological threats. However, low market penetration in developing and underdeveloped countries may hinder market revenue growth during the forecast period.
Biodefense comprises interventions, such as vaccines, drugs, and surveillance of pathogens, along with extensive RD activities and community health preparations, to prevent bioterrorism. An ideal biodefense vaccine platform would allow for quick formulation of novel vaccines in response to emerging or engineered pathogens.
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Various countries have adopted goals for eradicating epidemics of AIDS, tuberculosis, and malaria, and combat hepatitis, water-borne diseases, and other communicable diseases, and vaccines play a crucial role in achieving these goals within a set period of time. Therefore, governments across the world, through various awareness programs, have been focusing on providing vaccines, especially to children at a very young age, at regular intervals to protect them from several biological pathogens. Growing interest of governments of various countries in immunization is expected to drive market growth over the forecast period. Government legislations, such as Project Bioshield, offer countermeasures against chemical, radiological, nuclear, and biological attacks, and provide accessible biological countermeasures for targeting various strains of smallpox and anthrax.
Some Key Highlights from the Report:
- Among product type segments, anthrax vaccine segment accounted for largest revenue share in 2021, which can be attributed to increasing spending by governments across the globe to develop and store sufficient anthrax vaccines. Anthrax is primarily caused by ‘Bacillus anthracis’ bacterium and is an extremely life-threatening disease. Hence, its vaccine has been a life-saver and is given to individuals in the age group of 18-65 years, who are at a high risk of exposure to anthrax.
- Among application segments, the civilian segment accounted for largest revenue share in 2021 and is expected to register a faster revenue CAGR during the forecast period, owing to rising biological threats to civilians from terrorist organizations. It is observed that terrorist activities disturb peace and prosperity in a country to destabilize the government, and terrorist organizations can use biological agents, which is a lethal option to harm citizens of a country. Rising initiatives by governments in various countries to develop health infrastructure to accommodate a large number of people at a time of emergency is expected to drive segment revenue growth during the forecast period.
- Biodefense Market in North America accounted for largest revenue share in 2021. Growth of this regional market is attributed to high federal funding for biodefense, technological advancements, and growing awareness among population in the region. Presence of major players in the region is also a favorable factor expected to support market growth. Strategies to establish biodefense mechanism aim to detect and contain biothreats at their source, and support and promote biomedical innovation and improve emergency response in case of a biological outbreak.
- Biodefense market in Asia-Pacific is expected to register a faster revenue CAGR during the forecast period, due to surging investments in RD. In addition to this, growing incidents of biothreats is also driving biodefense market growth in the region. Governments of countries in the region are supporting market growth by subsidizing companies with adequate funding and easy clearance of licenses for establishing factories and manufacturing plants for vaccines and drugs, which is expected to drive market revenue growth in Asia-Pacific.
The report also focuses on details of each market player including its global position, financial standing, revenue generation, company overview, and product service portfolio. The Biodefense market is extremely competitive and consists of several key players at the regional and global levels. Key players are focused on adopting various strategies such as new product launches, mergers and acquisitions, investments in RD, partnerships, joint ventures, and collaborations to strengthen their market position and enhance their product portfolio.
Leading companies operating in the market are:
- Altimmune Inc.
- Emergent BioSolutions Inc.
- SIGA Technologies Inc.
- Ichor Medical Systems Inc.
- Elusys Therapeutics Inc.
- Alnylam Pharmaceuticals Inc.
- Dynavax Technologies Corporation
- Ology Bioservices Inc.
- Dynport Vaccine Company LLC
- Cleveland Biolabs Inc
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The report also offers detailed insights about market segmentation based on type, application and regional bifurcation:
Biodefense Market Segmentation:
Product Type Outlook:
- Anthrax Vaccine
- Smallpox Vaccine
- Botulism Vaccine
- Radiation Vaccine
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)
- Latin America (Brazil, Rest of LATAM)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of the Middle East Africa)
Some essential purposes of the Biodefense market research report:
- Vital Developments: Custom investigation provides critical improvements to the Biodefense market, including RD, new item shipment, coordinated efforts, development rate, partnerships, joint efforts, and local development of rivals working in the market on a global scale and regional.
- Market Characteristics: The report contains Biodefense market highlights, income, limit, limit utilization rate, value, net, creation rate, generation, utilization, import, trade, supply, demand, cost, part of the industry in general, CAGR, and gross margin. Likewise, the market report offers an exhaustive investigation of the elements and their most recent patterns, along with Service market fragments and subsections.
- Investigative Tools: This market report incorporates the accurately considered and evaluated information of the major established players and their extension into the Biodefense market by methods. Systematic tools and methodologies, for example, Porter’s Five Powers Investigation, Possibilities Study, and numerous other statistical investigation methods have been used to analyze the development of the key players working in the Biodefense market.
- Convincingly, the Biodefense report will give you an unmistakable perspective on every single market reality without the need to allude to some other research report or source of information. This report will provide all of you with the realities about the past, present, and eventual fate of the Biodefense market.
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