With the emergence and long-term Impact of COVID-19, the Global Biodefense Market is to reach USD 22.46 Billion by 2030
Bizwit Research & Consulting LLP’s Recent Analysis on Global Biodefense Market is poised to raise up to USD 22.46 Billion by 2030. Biodefense is generally described as those strategies, measures, and actions that are conducted to protect against biological threats such as the deliberate utilization of biological agents as weapons and naturally occurring outbreaks of infectious diseases. These measures are conducted in response to the need to reestablish a nation’s biosecurity defenses against infectious diseases or biological poisons. The growing investment from private players, increasing threat of biological agents, rising focus on public health preparedness, rising emphasis on early detection and response, and surging use of drones and robots in biodefense are the key factors that are attributing to the market demand around the world. Furthermore, governments are substantially funding vaccine research and development to prepare for any bioterrorism strikes. As a result of government initiatives to be prepared for any form of bioterrorism, pharmaceutical businesses working in the biodefense sector have enormous chances to grow. In October 2022, the Government of America developed a new defense strategy against the pandemic and other biological threats. A revamped National Biodefense Strategy was anticipated to offer precise instructions on how the US government ought to react to potential health dangers in June 2022. Also, Emergent Bioscience reported an increase of USD 48.6 million in Q1 2022 Anthrax vaccine revenue over Q1 2021. The timing of delivery to the United States government (USG), specifically the Strategic National Stockpile (SNS), is a major factor in the growth. Moreover, the rapid technological advancement, as well as the growing research and development activities present various lucrative opportunities for the market growth over the forecast years. However, the Low market penetration in developing and underdeveloped countries and the limited funding and budget constraints are challenging the market growth throughout the forecast period of 2023-2030.
Geographically, the global Biodefense Market has been segmented into North America, Europe, Asia Pacific (APAC), Latin America, and the Middle East and Africa (MEA). North America dominated the market in 2022 with the largest market share owing to the growing awareness among the population, the presence of high federal funding, along with increasing technological advancements. Whereas, Asia Pacific is expected to account as a fastest growing region over the forecast years. The surging investments in R&D, the rising threat of harmful biological materials, as well as well-established vaccine production facilities in the region are significantly propelling the market demand across the region.
The global Biodefense Market is highly competitive owing to the presence of several key manufacturers such as XOMA Corporation, Altimmune Inc., Emergent Biosolutions Inc., Dynavax Technologies Corporation., SIGA Technologies., Elusys Therapeutics Inc., Ichor Medical Systems., and others.
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Key findings of the study suggest:
- Global Biodefense Market is anticipated to grow with a healthy growth rate of more than 5.0% over the forecast period 2023-2030.
- In the product segment, anthrax emerged as the leading market segment in 2022.
- North America is anticipated to drive regional growth owing to rapid technological advancement, as well as growing research and development activities.
- Asia Pacific is expected to grow at a high CAGR followed by North America during 2023-2030.
Bizwit Research & Consulting has considered the following segments for the study:
- North America
- Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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