Biodefense Market Growth & Trends
The global biodefense market size is expected to reach USD 22.8 billion by 2030, and it is set to expand at 5.0% CAGR from 2022 to 2030, according to a new report by Grand View Research, Inc. Biodefense can be briefly defined as a set of comprehensive measures (identification, planning, and preparedness) undertaken to restore the biosecurity of a country.
It aims to tackle key biological threats or infectious diseases that can be easily used as a bioweapon to instigate social unrest and bioterrorism. Biological threats can be natural, accidental, or deliberate in origin and in all forms, present a grave threat. Factors like the presence of favorable government initiatives, increasing investment by private players, and the growing prevalence of various viral agents are fueling market growth.
Previous incidents of bioterrorism caused by viral agents like anthrax, smallpox, and botulism have made Biodefense a major focus area. The increased need for advancements for countries to defend themselves against grave threats remains the primary driver of growth. In 2017, the Centers for Disease Control and Prevention (CDC) stated that they had tracked more than 170 unique diseases, and outbreaks in more than 190 countries.
According to WHO, around 6,50,000 people die of respiratory diseases associated with seasonal flu annually. Repeated outbreaks of Zika and Ebola virus have coerced state governments to construct and strategize biodefense programs. These new programs will assist in planning and response during future outbreaks.
In 2018, the U.S. government announced a national biodefense strategy to manage the risk of biological threats. The new strategy can detect and contain bio-threats at its source, while simultaneously promoting biomedical innovation, and improving emergency response. These factors are expected to boost market growth.
Request a free sample copy or view report summary: Biodefense Market Report
Biodefense Market Report Highlights
The anthrax segment dominated the market in 2022. These bioagents can last longer in the environment, and are released with ease, posing a high potential risk
The other segment is expected to register the highest CAGR during the forecast period. This segment includes potential threats such as zika, Ebola, and Marburg’s virus. The rising incidents of related outbreaks remain the key growth driver
North America is expected to dominate the global market during the forecast period, owing to the presence of high federal funding, technological advancements, and growing awareness among the population
Comments