Increasing investment from pharmaceutical companies to develop vaccines to prevent biothreats is expected to drive market revenue growth.
Increasing investment from pharmaceutical companies to develop vaccines to prevent biothreats is expected to drive market revenue growth
The global biodefense market size is expected to reach USD 22.51 Billion in 2030 and register a revenue CAGR of 5.6% 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 R&D 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.
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.
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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 R&D. 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.
- Companies profiled in the global market report include 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.
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For this report, Reports and Data has segmented the global biodefense market based on product type, application, end-use, and region:
Product Type Outlook (Revenue, USD Billion; 2019–2030)
- Anthrax Vaccine
- Smallpox Vaccine
- Botulism Vaccine
- Radiation Vaccine
- Others
Application Outlook (Revenue, USD Billion; 2019–2030)
- Military
- Civilian
End-use Outlook (Revenue, USD Billion; 2019–2030)
- Hospitals
- Clinics
- Others
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Regional Outlook (Revenue, USD Billion; 2019–2030)
- North America
- US.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Sweden
- BENELUX
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Israel
- Rest of MEA
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Some points on how the report benefits stakeholders:
- The reports include historical (2019–2020) and forecast (2021–2030) data points, revenues, and CAGR in table, figure, and chart formats, with detailed and qualitative, supporting written information for each.
- Revenue break-up is provided for each segment in these formats for global, regional, and for each country in the respective region for each year between 2019 and 2030.
- The report contains insights regarding growth drivers, restraints, opportunities, trends, company profiles, strategic developments, expansion details, product launches, and various other aspects related to the market.
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- The report contains company profiles of the top companies operating in the market along with their respective revenue and operating segments, geographical reach, market footprint, headquarters, growth rates, recent developments, product /services, expansion strategies, investments in expansion, and more.
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