Pune, Dec. 22, 2022 (GLOBE NEWSWIRE) -- According to the latest report published by Growth Plus Reports, the global biodefense market is expected to clock US$ 32.58 billion by 2030 and to grow at a CAGR of 8% during the forecast period. owing to the rise in the treat of bioterrorism and the advancement in technology in infection detection and prevention. This exclusive information is published by Growth Plus Reports in its report titled “Biodefense Market – Global Outlook & Forecast 2022-2030”
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Market Driver
The primary factor propelling the global biodefense market growth is the government initiatives to strengthen the defense system to safeguard the economy from any form of damage brought on by bioterrorism attacks. Additionally, the pharmaceutical and biopharmaceutical industries' increased R&D spending is promoting the expansion of the global market. The inclusion of advanced technology to innovate biothreat detection systems that effectively detect bacteria and viruses is increasing. The availability of highly developed biothreat detection technologies will provide population protection and security, playing a significant role in the global market growth. Likewise, the continuous introduction of new products and the growing biotechnology industry are expected to propel global market growth.
The global biodefense market has been analyzed from three perspectives: product, end user, and region.
Excerpts from ‘By Product Segmentation’
Based on product, the global biodefense market has been segmented into:
- Detection Products
- Vaccines
The vaccines segment dominates the global biodefense market, with the largest market share in 2021. The vaccines segment is further divided into anthrax, smallpox, botulism, radiation vaccine, and others. One of the most common bioweapons is anthrax, which can be quickly released into the environment by mixing with food, beverages, powder, and sprays. There is a demand for anthrax vaccination since it is regularly seen in nature and has a long environmental shelf life in the soil, plants, and water. Additionally, governments worldwide are taking initiatives and investing in discovering new anti-anthrax medications, promoting segment growth.
The detection products segment is further classified into samplers, detectors/triggering devices, identifiers, assays, and others. The segment is growing due to the increased use of assays in researching and developing novel vaccines and medications. The assays segment is in greater demand as they speed up and lower the cost of developing vaccines. The development of technologies like high throughput screening, ELISA microarray assay, next gene sequencing, and Lab-on-Chip Devices is also fueling segment growth.
Excerpts from ‘By End User Segmentation’
Based on end users, the global biodefense market is segmented into:
- Hospitals
- Military
- Ambulatory Care Centers
- Research Organizations
- Others
The hospitals segment will hold the largest market share of the global biodefense market in 2021. The substantial share of the hospital sector can be attributable to the presence of patient data from earlier infectious outbreaks at the institution. Hospitals also have a well-developed infrastructure and qualified staff, helping the segment grow. Hospitals and medical institutions also work together to build cutting-edge technologies for future unforeseen disasters.
Excerpts from ‘By Region Segmentation’
The global biodefense market has been segmented into:
- North America
- Europe
- Asia Pacific
- Rest of the World
North America is expected to command the largest share of the global biodefense market in 2021, followed by Europe and Asia Pacific. The significant government investment in biodefense in North America is mainly responsible for the region's dominant market position. Additionally, the region's expansion is fueled by the well-structured biodefense industry and the presence of the leading market players. Numerous research institutions in the area are creating cutting-edge biodefense technology, fostering regional development.
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Excerpts from ‘Competitive Landscape’
The prominent players operating in the biodefense market are:
- Alexeter Technologies LLC
- Altimmune Inc.
- Emergent Biosolutions Inc.
- Dynavax Technologies Corporation
- Bavarian Nordic
- SIGA Technologies
- Biosearch Technologies
- Bruker Detection
- Elusys Therapeutics Inc.
- Ichor Medical Systems Inc.
- BioFire Defense (bioMérieux SA)
- PositiveID Corporation
- Dynport Vaccine Company
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