The Global Biodefense Market is expected to reach US$ 8,350.74 Mn in 2027 from US$ 4,108.24 Mn in 2019. The market is estimated to grow with a CAGR of 9.4% from 2020-2027.
The growth of the market is attributed to the some key driving factors such as presence of favorable government initiatives increase in the number of naturally occurring outbreaks, increasing threat of biological weapons and nuclear armed ICBM. However, low R&D funding by government in developing and underdeveloped economies are expected to restraint the growth of the market during the forecast years.
Disease outbreaks are usually caused by an infection, transmitted through person-to-person contact, animal-to-person contact, or from the environment or other media. Emerging infectious diseases are infections that have recently appeared within a population and are rapidly increasing or threaten to grow shortly. The World Health Organization warned in its 2007 report that infectious diseases are emerging at a rate that has not been seen before. Since the 1970s, about 40 infectious diseases have been discovered, including SARS, MERS, Ebola, chikungunya, avian flu, swine flu, zika, and most recently, coronavirus. Moreover, as per CDC estimates, between 2016 and 2017, nearly 30 Million people suffered from influenza in the U.S. Biodefense techniques, such as vaccinations against influenza; helps reduce the illness by 17% and medical visits and hospitalizations by 18 to 19% respectively. The growing prevalence of Ebola and Zika virus infections is also likely to contribute to the market development. For instance, as of November 2015, over 28,000 Ebola virus cases and more than 3,800 deaths were reported in Guinea. In addition, due to coronavirus outbreak, more than 210,000 cases have now been reported to WHO, and more than 9,000 people have lost their lives as of 20 March 2020. Further, on March 18, 2020 Emergent BioSolutions signed development and manufacturing agreement with Vaxart for their experimental oral vaccine candidate for Coronavirus Disease. The growing prevalence of infectious diseases, such as coronavirus Ebola and zika virus, is likely to boost the investments in the field of biodefense, thereby driving the market growth.
The global creatinine measurement is segmented by product and geography. The biodefense market, by product, is segmented into anthrax, small pox, botulism, radiation/nuclear and others. In 2019, the anthrax segment accounted for the largest market share in the global biodefense market. The segment is expected to continue its dominance over the forecast period owing to increasing funding by the governments of other countries to develop and stockpile adequate vaccines against anthrax mainly through a variety of initiatives, such as BioShield Act, Biomedical Advanced Research and Development Authority (BARDA), and the Joint Program Executive Office for Chemical & Biological Defense.
Some of the essential primary and secondary sources included in the report are, Food and Drug Administration, World Health Organization (WHO), Organisation for Economic Co-operation and Development, Socio-Economic Contribution of the European Cosmetics Industry (SECECI), Emirates Standardization and Meteorological Authority (ESMA), and others.