Acumen Research and Consulting, a global provider of market research studies, in a recently published report titled “Biodefense Market– Global Industry Analysis, Market Size, Opportunities and Forecast, 2020-2027”
LOS ANGELES, March 31, 2021 (GLOBE NEWSWIRE) -- The Global Biodefense Market is expected to grow at a CAGR of around 5.8% from 2020 to 2027 and reach the market value of over US$ 19.1 Bn by 2027.
The global biodefense market is estimated to experience potential growth over the forecast period from 2020 to 2027. The global biodefense market is segmented on the basis of product, and geography. Based on the product, the market is bifurcated across anthrax, smallpox, botulism, radiation/nuclear, and others.
North America is leading the market with maximum revenue share (%) in 2019. The presence of major players in the region including Altimmune Inc, Cleveland BioLabs, Elusys Therapeutics, Ichor Medical Systems, Ology Bioservices, PathSensors Inc., and Siga Technologies Inc. is supporting the regional market value.
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Over the past two decades, the US government has supported the spending of at least $100 billion on biodefense and biosecurity. Mark G. Kortepeter, a retired Army colonel who served as deputy commander of the U.S. Army Medical Research Institute of Infectious Diseases at Fort Detrick, Md. has said that COVID has had a great impact like a bioweapon, in terms of the disruption of daily life, impact on leadership and economy.
Asia Pacific is anticipated to exhibit the fastest growth over the forecast period from 2020 to 2027. The major economies of the region including Japan, China, India, and Australia are majorly contributing to the regional market value. The technological development in the biology sector as well as increasing spending on research and development activities especially by the governments is additionally bolstering the regional market value. Moreover, the increased risk associated with bioterrorism is further propelling the regional market value.
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Some of the leading competitors are Altimmune Inc., Bavarian Nordic, Cleveland BioLabs, Elusys Therapeutics, Emergent BioSolutions Inc., Ichor Medical Systems, Ology Bioservices, PathSensors Inc., and Siga Technologies Inc. The major players are highly involved in research and development (R&D) activities in order to prepare future-ready products for the increasing risk of biological attacks.
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Some of the key observations regarding the biodefense industry include:
- Joe Biden's Indo-Pacific team is expected to be the largest in National Security Council. The division at the National Security Council will combine the directorate for Asian affairs, which will be led by Indo-Pacific Coordinator Kurt Campbell. Around 15 to 20 members are expected to form the planned Indo-Pacific team.
- In 2017, about US$ 66 billion was the federal investment in basic science and research in the US, or roughly 1.7% of the federal budget. This is estimated to be very little when China is prioritizing investments in new technologies, like artificial intelligence (AI), synthetic biology, and quantum communications.
- President of the European Commission Ursula von der Leyen announced in January 2021, that The European Union (EU) will create a biodefense preparedness program in the form of a public-private partnership. The public-private partnership is expected to help Europe to detect earlier, develop together and manufacture fast at scale.
- In 2020, Integrated Viral Protection (IVP Air), a technology solution company has announced that the True North Classical Academy in Miami is the first Florida school to deploy its breakthrough Mobile Biodefense Indoor Air Protection System. The system is the first of its kind which has designed and proven to catch & destroy airborne COVID-19.
- Former U.S. President. Donald Trump has introduced a new national strategy for combating disease outbreaks and bioterrorism in 2018. This was done on the anniversary of the 2001 anthrax attacks on the US that left 5 people dead. The president has considered not only the anthrax attack but has also considered the outbreak of influenza and the Ebola virus epidemic, which has killed thousands of people in West Africa in 2014.
- TFF Pharmaceuticals, Inc, a US-based clinical-stage biopharmaceutical company is developing and commercializing innovative drug products based on its patented thin-film freeze-drying (TFFD) technology platform. Also, in April 2020, a 3-year Cooperative Research and Development Agreement (CRADA) initiated in collaboration with the United States Army Medical Research Institute of Infectious Diseases (USAMRIID), has investigated thin-film freeze-drying (TFFD) of various biodefense countermeasures.
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