Press release
Biodefense Market Is At A CAGR Of 10.2% During The Forecast 2022-2032 | XOMA corporation; Altimmune Inc. Emergent Biosolutions
The global Biodefense market was valued at USD 15.4 Billion in 2022 and it is anticipated to grow up to USD 40.7 Billion by 2032 at a CAGR of 10.2% during the forecast period.Download Free Sample of Report - https://www.globalinsightservices.com/request-sample/GIS10528/?utm_id=1024
Biodefense can be defined as the activity of preparing for, responding to and countering the acts of bioterrorism. A bioterrorism attack involves the deliberate release of bacteria, viruses and other pathogens that can cause chronic illnesses to humans, animals, agriculture and the environment. Biodefense involves various medical measures that are undertaken to protect individuals against biological threats, such as administering vaccinations and medicinal drugs, along with conducting research and various public health procedures. Biodefense products are commonly effective against anthrax, smallpox, botulism, radiation/nuclear disasters and other such catastrophes.
Market Trends and Drivers
Growing investments by government will augment the overall market progression
Growing investments by government in R&D that encourages pharmaceutical and biopharmaceutical companies to boost the production of vaccines will propel the biodefense market share. Increasing global biological threats has created need for funds to support the R&D activities. Government authorities' stock large amounts of vaccines and bio-threat detection devices to combat against the deliberate virus attacks. For instance, as per the FDA FY 2023 budget, investment of USD 1.6 billion over five years has been allocated for biodefence vaccines and development of biodefense diagnostic devices. Therefore, growing investments in biodefense enables biopharmaceutical companies to manufacture technologically advanced biothreat detection devices that will significantly drive the industry outlook.
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Major Players in the Global Biodefense Market
The key players in the market are 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., among others.
COVID-19 Impact:
The outbreak of the COVID-19 pandemic has led to a significant increase in the demand for biodefense products, such as vaccines, therapeutics, and diagnostics, as healthcare professionals seek to protect themselves and others from the disease. The pandemic has also highlighted the importance of investing in strong biodefense infrastructure, which is expected to drive market growth over the forecast period.
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Global Biodefense Market Segmentation
By Product
Anthrax
Botulism
Smallpox
Radiation/Nuclear
Other Products
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