Biodefense is Estimated to Witness High Growth Owing to Growing Threat of Biological Weapons

 

Biodefense Market

 

The global Biodefense Market is estimated to be valued at US$ 13.4 Bn in 2023 and is expected to exhibit a CAGR of 4.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

 

Biodefense products such as vaccines, antibiotics, and antimicrobial drugs help to protect humans from any biological weapons and infectious diseases. With growing threats of biological warfare and the emergence of new infectious diseases, the demand for biodefense products is increasing significantly. The growing prevalence of infectious diseases and rising awareness about pandemic preparedness are some major factors driving the growth of the biodefense market.

 

Market Overview:

The global biodefense market offers variety of medical countermeasures such as vaccines, drugs, and diagnostics to protect against biological threats. Advancements in artificial intelligence and big data analytics are helping researchers develop new generation biodefense products with enhanced efficacy and safety.

 

Market key trends:

One of the key trends in the biodefense market is the growing adoption of artificial intelligence. AI is being used for pathogen detection, drug discovery, vaccine design, and epidemiological modeling. AI-based tools can analyze huge datasets on pathogens and epidemiology to predict future outbreaks. Pharmaceutical companies are also developing AI-powered platforms for rapid vaccine design against emerging and genetically evolving pathogens. This is significantly reducing the time required for vaccine development.

Segment Analysis

The global biodefense market is segmented into product type, application, and end user. Based on product type, the biodefense market is segmented into anthrax, smallpox, botulism, radiation/nuclear defense, and others. The anthrax segment dominated the market in 2023 due to rising threats and preventive measures being taken by governments across the globe. The application segments include drugs and vaccines. The drugs segment is expected to be the largest shareholder due to increasing R&D investments in antiviral drugs over the forecast period. Based on end user, the market is segmented into hospitals, clinics, pharmacies, and others. Hospitals accounted for the largest share of the biodefense market in 2023.

 

Key Takeaways

The Global Biodefense Market Size is expected to witness high growth, exhibiting CAGR of 4.8% over the forecast period, due to increasing threats of biological warfare and terrorism globally. North America dominated the global market in 2023 due to huge investments by governments in the biosecurity sector in the region. The Asia Pacific region is expected to be the fastest-growing market over the forecast period, growing at a CAGR of around 6%, owing to the rising government focus on preventing bioterrorism in developing nations.

 

Key players operating in the biodefense market are Emergent Biosolutions Inc., SIGA Technologies Inc., Bavarian Nordic A/S, Elusys Therapeutics Inc., Ichor Medical Systems Inc., Amgen Inc., Cleveland BioLabs Inc., Dynavax Technologies Corporation, Alnylam Pharmaceuticals Inc., and XOMA Corporation. Emergent Biosolutions Inc. accounted for the largest revenue share of over 20% in 2023 owing to its strong product portfolio in the anthrax vaccine and antitoxin segment. SIGA Technologies Inc. held the second largest market share and has a robust product pipeline for smallpox therapeutics.

 

The global biodefense market size was valued at US$ 13.4 Bn in 2023. Biodefense comprises drugs, vaccines, and diagnostic tools aimed at countering biological threats such as anthrax, smallpox, plague, botulism, and others. Rising government investments, increasing R&D activities, and growing product approvals are expected to further drive market growth over the forecast period. The development of new and improved therapeutics, diagnostics, and prophylactic vaccines will also contribute to revenue generation in the coming years. However, high development costs and regulatory challenges associated with biodefense products may hamper market growth to some extent.

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https://www.dailyprbulletin.com/biodefense-market-size-share-growth-outlook-2023/

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