According to the latest report by IMARC Group, titled "Biodefense Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026," the global biodefense market size reached US$ 12.7 Billion by 2020. Biodefense includes the utilization of several medical and military measures that are taken to safeguard individuals against bioterrorism. Bioterrorism refers to the usage of biological toxins or infectious agents that can be used with the intent to kill or infect humans and instigate biological warfare. It involves using several living organisms, such as bacteria, viruses, fungi, and toxins, that can result in causing chronic illnesses among animals and humans while acting as a threat to the environment as well. Numerous interventions, including drugs and vaccinations, can help counter the acts of bioterrorism by limiting the spread of the disease. Apart from this, conducting research and specific public health procedures can also aid in protecting individuals against biological threats and providing necessary medical care to the affected.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Biodefense Market Trends:
The global market is primarily driven by the growing awareness regarding bioterrorism, along with the increasing tensions between several nations. This has encouraged the governments of these countries to expand their defense budgets and invest in biodefense in an attempt to equip the public healthcare system with an efficient disease surveillance system that takes rapid actions to counter biological threats. Additionally, they are undertaking initiatives to increase the funding for procuring, developing and utilizing advanced medical countermeasures against biological, chemical, radiological, and nuclear (CBRN) warfare agents. Moreover, continual technological advancements in the field of genetic engineering and biotechnology are creating a positive outlook for the market. Numerous players are also leveraging these advanced technologies to launch innovative biothreat detection devices that assist in the identification of several viruses and bacteria in an efficient manner. The market is further driven by the escalating need for effective medical measures and threat detection procedures on account of the rapid outbreak of the COVID-19 pandemic. On account of the aforementioned factors, the market is expected to reach a value of US$ 17.9 Billion by 2026, growing at a CAGR of 5.70% during 2021-2026.
- On the basis of the vaccine type, the market has been divided into anthrax, smallpox, botulism and others.
- Based on the biothreat detection device, the market has been classified into samplers, detectors/triggering devices, identifiers, assays, and others.
- On the basis of the end user, the market has been segmented into hospitals and clinics, ambulatory care centers, and others.
- On the geographical front, the market has been segregated into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players. Some of these players include Achaogen Inc., Alnylam Pharmaceuticals Inc., Altimune Inc. (PharmAthene Inc.), Bavarian Nordic A/S, Cleveland BioLabs Inc., Dynavax Technologies Corporation, Dynport Vaccine Company LLC (General Dynamics Corporation), Elusys Therapeutics Inc., Emergent Biosolutions Inc., Ichor Medical Systems Inc., Ology Bioservices Inc., and SIGA Technologies, Inc.
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