|Biodefense Market 2022 Trade Growth Factors, Rating Analysis And Key Drivers 2030|
Biodefense Market Growth & Trends
The global biodefense market size is expected to reach USD 22.8 billion by 2030, and it is set to expand at 5.0% CAGR from 2022 to 2030, according to a new report by Grand View Research, Inc. Biodefense can be briefly defined as a set of comprehensive measures (identification, planning, and preparedness) undertaken to restore the biosecurity of a country.
It aims to tackle key biological threats or infectious diseases that can be easily used as a bioweapon to instigate social unrest and bioterrorism. Biological threats can be natural, accidental, or deliberate in origin and in all forms, present a grave threat. Factors like the presence of favorable government initiatives, increasing investment by private players, and the growing prevalence of various viral agents are fueling market growth.
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Previous incidents of bioterrorism caused by viral agents like anthrax, smallpox, and botulism have made Biodefense a major focus area. The increased need for advancements for countries to defend themselves against grave threats remains the primary driver of growth. In 2017, the Centers for Disease Control and Prevention (CDC) stated that they had tracked more than 170 unique diseases, and outbreaks in more than 190 countries.
According to WHO, around 6,50,000 people die of respiratory diseases associated with seasonal flu annually. Repeated outbreaks of Zika and Ebola virus have coerced state governments to construct and strategize biodefense programs. These new programs will assist in planning and response during future outbreaks.
In 2018, the U.S. government announced a national biodefense strategy to manage the risk of biological threats. The new strategy can detect and contain bio-threats at its source, while simultaneously promoting biomedical innovation, and improving emergency response. These factors are expected to boost market growth.
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Biodefense Market Segmentation
Grand View Research has segmented the global biodefense market based on product and region:
Biodefense Product Outlook (Revenue, USD Million, 2018 – 2030)
List of Key Players of Biodefense Market
· XOMA corporation
· Altimmune Inc.
· Emergent Biosolutions Inc.
· Dynavax Technologies Corporation.
· SIGA Technologies.
· Elusys Therapeutics Inc.
· Ichor Medical Systems.
· Dynport Vaccine Company.
· Cleveland Biolabs.
· Bavarian Nordic.
· Ology Bioservices.
· Alnylam Pharmaceuticals Inc
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Grand View Research is an India & U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. Grand View Research database is used by the world’s renowned academic institutions and Fortune 500 companies to understand the global and regional business environment. Our database features thousands of statistics and in-depth analysis on 46 industries in 25 major countries worldwide.
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