According to a recent report by Reports and Data, the global Biodefense Market size is projected to reach USD 32.80 billion by 2030, with a compound annual growth rate (CAGR) of 8.7% over the forecast period.
The biodefense market is experiencing steady growth due to several factors, including supportive government initiatives, rapid technological advancements, and increasing awareness about biological threats. Nevertheless, market revenue growth during the forecast period may be impeded by low market penetration in developing and underdeveloped countries.
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The report defines biodefense as interventions such as vaccines, drugs, and pathogen surveillance, along with extensive research and development 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.
The report highlights that governments across the world have set goals to eradicate epidemics of diseases such as AIDS, tuberculosis, malaria, and hepatitis, as well as combat water-borne and other communicable diseases. Vaccines are considered crucial in achieving these goals within a specific timeframe. As a result, governments worldwide have been focusing on providing vaccines, especially to young children, at regular intervals to safeguard them against various biological pathogens. This growing interest of governments in immunization is expected to drive market growth during 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.
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The global market report lists several prominent companies that operate in the biodefense market, including 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, and Cleveland Biolabs Inc.
Among product types, the anthrax vaccine segment accounted for the largest revenue share in 2021. This is attributed to increasing spending by governments worldwide to develop and store sufficient anthrax vaccines. Anthrax is primarily caused by the ‘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 high risk of exposure to anthrax.
Among application segments, the civilian segment accounted for the largest revenue share in 2021 and is expected to register a faster revenue CAGR during the forecast period. This is owing to rising biological threats to civilians from terrorist organizations. Terrorist activities can 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 in case of emergency is expected to drive segment revenue growth during the forecast period.
The biodefense market in North America accounted for the largest revenue share in 2021. The growth of this regional market is attributed to high federal funding for biodefense, technological advancements, and growing awareness among the population in the region. The 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.
The biodefense market in the Asia-Pacific region is expected to register a faster revenue CAGR during the forecast period, due to surging investments in research and development. In addition to this, growing incidents of biothreats are 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.
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