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Biodefense Market size surpassed USD 15.6 billion in 2021 and is expected to witness an 8.7% CAGR from 2022 to 2028 owing to the government-led several safety measures and stock vaccines to protect the economy from damages caused by bioterrorism attacks in developed countries.
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Bioterrorism refers to the deliberate release of viruses, bacteria, and other hazardous germs with the potential to spread epidemics and cause death. This condition has a negative impact on the economy because it is harmful to human health and depletes human resources. As a result, governments in developed countries undertake a variety of efforts as well as preventative measures in order to withstand these attacks. Vaccines and biothreat detection technologies are frequently stocked by the government to ensure the safety of the population. Government initiatives like this will help to accelerate the biodefense market share.
The COVID-19 pandemic had a favorable influence on the biodefense market. The COVID-19 pandemic demonstrates how catastrophic biological events may result in significant human and economic loss, necessitating a nationwide response from numerous government and nonfederal agencies. There are several reasons to believe that the COVID-19 pandemic is an intentional act of bioterrorism. COVID-19 promises a huge potential for investment and income redistribution, similar to the swine flu epidemic of 2008-2009, when billions were created by major companies across the globe.
Bio-defenses is a combination of various processes and systems put in place by customs agents, bioscience laboratories, and other professionals to prevent the use of dangerous pathogens and toxins. Biodefense uses medical procedures to protect people against bioterrorism. The purposeful release of viruses, bacteria, or other organisms to cause sickness or death is referred to as a bioterrorism.
|Market Size in 2021:||15.6 Billion (USD)|
|Forecast Period:||2022 to 2028|
|Forecast Period 2022 to 2028 CAGR:||8.7%|
|2028 Value Projection:||27.7 Billion (USD)|
|Historical Data for:||2017 to 2021|
|No. of Pages:||110|
|Tables, Charts & Figures:||172|
|Segments covered:||Product and Region|
|Pitfalls & Challenges:|
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During the analysis period, increasing technical breakthroughs will have a beneficial influence on the market growth. As a result of the rise in bioterrorism, prominent industry players have incorporated advancements to biothreat detection systems that aid in the effective identification of bacteria and viruses. The availability of technologically sophisticated biothreat detection technologies will safeguard the population's safety and security, boosting the market growth. However, low government R&D funding for creating vaccines against bioterrorism attacks in emerging and undeveloped nations may limit the growth of the biodefense market to some extent.
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Based on product, the biodefense market is bifurcated into vaccines, and biothreat detection devices. Vaccines are further segmented into botulism, smallpox, anthrax, and others. Whereas biothreat detection devices are further segmented into detectors/triggering devices, samplers, assays, reagents, and identifiers. Among these the vaccines segment accounted for around 64.5% market share in 2021 owing to increasing vaccines production across the globe to prevent spread of various viruses.
Furthermore, researchers are currently investigating novel vaccine technologies, such as vector technology, in order to induce rapid protection against pathogen attack will spur the biodefense market growth. Recently developed vaccines had the ability to address a wide range of bioterrorism chemicals and can induce a long-lasting immune response after a single oral dose. Also, several countries have witnessed a surging Ebola virus, Zika and COVID-19 infections and therefore many companies are competing to develop vaccines.
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North America biodefense market captured over 41.6% revenue share in 2021 and is poised to grow substantially during the forthcoming years owing to growing importance of biodefense and the rising threat of harmful biological materials. Furthermore, the U.S is one of the region's most developed biodefense marketplaces, with well-established vaccine production facilities.
Additionally, U.S. government implements several initiatives that helps them in strengthening security against bioterrorism attacks. Government plans several biodefense programs such as pandemic influenza and infectious disease program. Other factors such as growing adoption of technological advanced product coupled with rising awareness regarding biodefense among the individuals will spur the regional market forecasts.
Some of the key market players operating in the biodefense industry include Alexeter Technologies, LLC, Altimmune, ANP Technologies, Bavarian Nordic, BioFire Defense (bioMérieux SA), Biosearch Technologies, Bruker Detection, Electronic Sensor Technology Inc., Elusys Therapeutics, Emergent BioSolutions, Ichor Medical Systems, Inc., Nanologix, New Horizon Diagnostic Corp., PositiveID Corporation, SIGA Technologies, Smiths Detection Group Ltd., and Synexis Systems. These market players are employing a variety of development strategies, including continual innovation and technological advancements, in order to maintain business rivalry in the biodefense market.
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The biodefense market report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2022 to 2028, for the following segments:
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The above information is provided for the following regions and countries: