BIODEFENSE MARKET REPORT OVERVIEW
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The global biodefense market size was USD 13401.55 million in 2021 and is projected to touch USD 31270.7 million by 2031, exhibiting a CAGR of 8.84% during the forecast period.
The global COVID-19 pandemic has been unprecedented and staggering, with biodefense experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden spike in CAGR is attributable to demand returning to pre-pandemic levels once the pandemic is over.
Biodefense is known as biological defense. It is often discussed in the context of bioterrorism or biological warfare. it is also considered an emergency or military response term.
The market growth is attributed to increased government safety measures, technological advancements in the biotechnology sector, and rising investment by the government in R&D activities. Increased bioterrorism attacks and biodefense uses medical procedures to protect human lives from bioterrorism. Several demands to protect human lives from bioterrorism attacks are anticipated to fuel market growth in the upcoming years. On the contrary, low research and development funding by the government in underdeveloped regions is estimated to limit market growth in the upcoming years.
COVID-19 Impact: Government Regulations and Adoption of Biodefense to Foster Market Growth
COVID-19 marked a favorable influence in the market. During the pandemic high need to protect people from bioterrorism. Increased awareness about bioterrorism and government regulations to a safe nation. These factors during the pandemic fuel market growth. Further, the coronavirus pandemic results in economic and human loss which encourages the government to adopt biodefense to protect from further damage.
LATEST TRENDS
"Increase the Number of Bioterrorism to Fuel Market Growth "
An increasing number of bioterrorism across the globe is estimated to fuel market growth. Rising investment by the government in R&D activities. Increased bioterrorism attacks and biodefense uses medical procedures to protect human lives from bioterrorism. Several demands to protect human lives from bioterrorism attacks are anticipated to fuel market growth in the upcoming years.
BIODEFENSE MARKET SEGMENTATION
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- By Type
Based on type, the market is divided into anthrax, smallpox, botulism, radiation, and others.
Anthrax is expected to be the top part of the segmentation type.
- By Application
Based on the application, the market is divided into medical hygiene and national defense.
National defense is expected to be the top part of application segmentation.
DRIVING FACTORS
"Government Initiatives and Technology Advancement to Accelerate Market Growth"
Increased government initiatives across the globe are estimated to surge market growth. government safety measures and technological advancements in the biotechnology sector are predicted to drive market growth. Growing R&D activities to develop new defense is predicted to fuel market growth. Increased investment from private players and biological agents is used during bioterrorism and the rise in the threat of human biological materials is projected to surge market growth. The defense offers to reduce risk, recover from bioterrorism incidents, and prepare and respond to attacks, which is anticipated to push market progress in the coming years.
"Growing Demand for Vaccine to Augment Market Progress"
Increased demand for vaccines is estimated to fuel market growth. The vaccines are such as smallpox, botulism, anthrax, and others. Rapid protection against pathogen attacks is anticipated to fuel market growth. A high need for a long-lasting immune system or response and developed vaccines to address a wide range of bioterrorism is estimated to foster market growth. Increased vaccine production to prevent several spread of viruses is expected to drive biodefense market growth in the upcoming years.
"Increased Research and Development Activities to Push Market Growth"
Increased R&D activities across the globe and the huge need for the product in medical hygiene are estimated to drive market growth. In the case of biological outbreaks increased demand to improve emergency responses is anticipated to accelerate market growth. The presence of several major players is likely to favor market growth in the forthcoming years.
RESTRAINING FACTORS
"Low Research and Development Funding by The Government in Underdeveloped Regions to Obstruct Market Growth"
Low research and development funding by the government in underdeveloped regions is estimated to limit market growth in the upcoming years.
BIODEFENSE MARKET REGIONAL INSIGHTS
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"Presence of High Federal Funding in North America to Drive Market Share "
North America is estimated to account for the biodefense market share owing to the presence of high federal funding. Rapid technological advancements and increased awareness about the product among the population are estimated to drive market growth.
Asia Pacific is anticipated to witness the second-highest CAGR due to surging investment in R&D. Rise in the threat of harmful biological materials and an increased need for biodefense in the region is anticipated to surge market growth.
KEY INDUSTRY PLAYERS
"Leading Players Adopt New Strategies to Stay Competitive"
The report covers information about the list of market players and their latest development in the industry. The information includes mergers, partnerships, acquisitions, technological developments, and production lines. Other aspects examined for this market include complete research on companies producing and introducing the latest products, regions they conduct their operations in, automation, technology adoption, generating the most revenue, and making a difference with their products.
List of Market Players Profiled
- Xoma Corporation (U.S.)
- Emergent BioSolutions, Inc. (U.S.)
- Achaogen, Inc. (U.S.)
- SIGA Technologies (U.S.)
- Dynavax Technologies Corporation (U.S.)
- DynPort Vaccine Company, LLC (U.S.)
- Cleveland BioLabs (U.S.)
- Ichor Medical Systems (U.S.)
- PharmAthene, Inc. (U.S)
- Elusys Therapeutics, Inc. (U.S.)
- Bavarian Nordic (U.S.)
REPORT COVERAGE
This research profiles a report with general studies that explain the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by examining the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, and others. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.
REPORT COVERAGE | DETAILS |
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Market Size Value In |
US$ 13401.55 Million in 2021 |
Market Size Value By |
US$ 31270.7 Million by 2031 |
Growth Rate |
CAGR of 8.84% from 2021 to 2031 |
Forecast Period |
2024-2031 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Type and Application |
Frequently Asked Questions
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What value is the biodefense market expected to touch by 2031?
The global biodefense market size is expected to reach USD 31270.7 million by 2031.
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What CAGR is the biodefense market expected to exhibit by 2031?
The biodefense market is expected to exhibit a CAGR of 8.84% by 2031.
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Which are the driving factors of the biodefense market?
Drivers of this biodefense market are government initiatives and technological advancement and growing demand for vaccines, and increased research and development activities.
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Which are the top companies operating in the biodefense market?
Xoma Corporation, Emergent BioSolutions, Inc., Achaogen, Inc., SIGA Technologies, Dynavax Technologies Corporation, DynPort Vaccine Company, LLC, Cleveland BioLabs, Ichor Medical Systems, PharmAthene, Inc., Elusys Therapeutics, Inc., and Bavarian Nordic are the top companies operating in the biodefense market.