DUBLIN--(BUSINESS WIRE)--The "Biodefense Market, By Product Type, By Application, By End-Use, and By Region Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
The global biodefense market size is expected to reach USD 32.80 Billion in 2030 and register a revenue CAGR of 8.7% over the forecast period, according to latest report.
Companies Mentioned
- 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
- Cleveland Biolabs Inc.
The market growth is attributed to the increasing government initiatives to strengthen national biodefense mechanisms and the rising research and development activities for developing newer biodefense products.
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.
The North America region is expected to hold the largest share in the global biodefense market due to the presence of a large number of key players in the region and the increasing government initiatives to strengthen national biodefense mechanisms.
For instance, in May 2020, the U.S. Department of Health and Human Services announced an investment of USD 1.6 Billion in Operation Warp Speed, a public-private partnership aimed at accelerating the development, manufacturing, and distribution of COVID-19 vaccines, therapeutics, and diagnostics.
Biodefense comprises medical countermeasures (MCM) and other actions taken to protect people from the effects of biological warfare agents or bioterrorism. Biological warfare agents are microorganisms, such as bacteria, viruses, fungi, and toxins that can be used intentionally to cause death or disease in humans, animals, or plants. Bioterrorism is the intentional release of harmful microorganisms or toxins to cause death or disease in humans, animals, or plants.
Some Key Highlights from the Report
- Among product type segments, anthrax vaccine segment accounted for largest revenue share in 2021 due to growing government initiatives to promote vaccination among public and military personnel. Also, with the recent outbreak of COVID-19, there is a significant demand for vaccines and therapeutics specifically for this disease. The global biodefense market is expected to grow at a CAGR of over 12% during the period of 2021-2031.
- The U.S. government has been at the forefront of initiatives to develop and procure biodefense products. The U.S. Department of Health and Human Services (HHS) has been the largest procurer of biodefense products, with a budget of over USD 6 billion in 2020. The U.S. government has also initiated several public-private partnerships (PPPs) to develop new vaccines and therapeutics. For instance, the HHS has partnered with Merck & Co., Inc. to develop a new Ebola vaccine.
- In terms of disease type, inhalation anthrax accounted for largest revenue share in 2021 due to high mortality rate associated with the disease. According to the Centers for Disease Control and Prevention (CDC), inhalation anthrax is fatal in over 80% of cases.
- In terms of distribution channel, online segment is expected to grow at a rapid pace during the forecast period. The online sales channel provides easy accessibility to consumers and offers a wide range of products.
- The hospital pharmacy segment held dominant revenue share in 2020 and the trend is expected to continue during the forecast period due to the increasing number of hospital admissions for infectious diseases.
- In terms of regions, North America held dominant revenue share in 2020 and the trend is expected to continue during the forecast period due to the growing prevalence of infectious diseases and availability of new vaccines and therapeutics.
- The biodefense market in Europe is expected to grow at a significant pace during the forecast period. The European Commission has been supporting initiatives to develop new vaccines and therapeutics through its Horizon 2020 program. For instance, the Horizon 2020 program has supported the development of a new vaccine against Crimean-Congo hemorrhagic fever (CCHF).
- The biodefense market in Asia Pacific is expected to grow at a significant pace during the forecast period. The growing incidence of infectious diseases, such as Zika virus and dengue, is expected to drive the demand for vaccines and therapeutics in the region. The government agencies in the region, such as the National Healthcare Group (NHC) in Singapore, have been investing in research and development of new vaccines and therapeutics.
For this report, the author 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
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
For more information about this report visit https://www.researchandmarkets.com/r/u9nuri
