The global biodefense product market size is expected to reach USD 32.80 Billion in 2030 and register a revenue CAGR of 8.7% over the forecast period, according to latest report by Reports and Data. Steady revenue growth of the biodefense product market can be attributed to several factors, such as supportive government initiatives, rapid technological advancements, and rising awareness about biological threats. However, low market penetration in developing and underdeveloped countrieas may hinder market revenue growth during the forecast period.
biodefense product comprises interventions, such as vaccines, drugs, and surveillance of pathogens, along with extensive R&D activities and community health preparations, to prevent bioterrorism. An ideal biodefense product vaccine platform would allow for quick formulation of novel vaccines in response to emerging or engineered pathogens.
Various countries have adopted goals for eradicating epidemics of AIDS, tuberculosis, and malaria, and combat hepatitis, water-borne diseases, and other communicable diseases, and vaccines play a crucial role in achieving these goals within a set period of time. Therefore, governments across the world, through various awareness programs, have been focusing on providing vaccines, especially to children at a very young age, at regular intervals to protect them from several biological pathogens.
Some Key Factors Contributing to the Global Pharma & Healthcare Market Growth
Unprecedented revenue growth of the global pharma & healthcare industry is attributed to factors such as rising prevalence of chronic and acute diseases worldwide, increasing geriatric population, rising awareness of health & wellness among consumers, and growing demand for more advanced healthcare services. Increasing demand for advanced drugs and therapeutics, growing availability of next-generation diagnostics and treatment options – especially in developing countries like India and China – rise in R&D activities and clinical trials in the pharmaceutical and biotechnology sectors, increasing public and private investments in healthcare research projects, and rising consumer expenditure on healthcare are among the other significant factors contributing to the industry revenue growth.
Some Key Highlights from the Report
- Among product type segments, anthrax vaccine segment accounted for largest revenue share in 2021, which can be attributed to increasing spending by governments across the globe to develop and store sufficient anthrax vaccines. Anthrax is primarily caused by ‘Bacillus anthracis’ bacterium and is an extremely life-threatening disease. Hence, its vaccine has been a life-saver and is given to individuals in the age group of 18-65 years, who are at a high risk of exposure to anthrax.
- Among application segments, the civilian segment accounted for largest revenue share in 2021 and is expected to register a faster revenue CAGR during the forecast period, owing to rising biological threats to civilians from terrorist organizations. It is observed that terrorist activities disturb peace and prosperity in a country to destabilize the government, and terrorist organizations can use biological agents, which is a lethal option to harm citizens of a country. Rising initiatives by governments in various countries to develop health infrastructure to accommodate a large number of people at a time of emergency is expected to drive segment revenue growth during the forecast period.
- biodefense product Market in North America accounted for largest revenue share in 2021. Growth of this regional market is attributed to high federal funding for biodefense product, technological advancements, and growing awareness among population in the region. Presence of major players in the region is also a favorable factor expected to support market growth. Strategies to establish biodefense product mechanism aim to detect and contain biothreats at their source, and support and promote biomedical innovation and improve emergency response in case of a biological outbreak.
- biodefense product market in Asia-Pacific is expected to register a faster revenue CAGR during the forecast period, due to surging investments in R&D. In addition to this, growing incidents of biothreats is also driving biodefense product market growth in the region. Governments of countries in the region are supporting market growth by subsidizing companies with adequate funding and easy clearance of licenses for establishing factories and manufacturing plants for vaccines and drugs, which is expected to drive market revenue growth in Asia-Pacific.
Top Players in the Global biodefense product Market:
Altimmune Inc., Emergent BioSolutions Inc., SIGA Technologies Inc., Ichor Medical Systems Inc., Elusys Therapeutics Inc., Alnylam Pharmaceuticals Inc., Dynavax Technologies Corporation, Ology Bioservices Inc., Dynport Vaccine Company LLC, and Cleveland Biolabs Inc.
The coronavirus pandemic has had a drastic impact on the global healthcare industry, with rising cases of COVID-19 worldwide, substantially growing hospital admission and readmission rates, and rising demand for telehealth and telemedicine services for remote patient monitoring. Furthermore, rising focus on development of rapid COVID-19 diagnostics such as the RT-PCR test kits, increased government funding for vaccine development, stringent regulatory norms and protocols for COVID-19 safety, and increasing sales of COVID-19 safety equipment, such as N-95 masks, face shields, PPE kits, and hand sanitizers, have driven the global pharma & healthcare industry revenue growth over the recent past.
biodefense product Market Segmentation:
Product Type Outlook (Revenue, USD Billion; 2019–2030)
- Anthrax Vaccine
- Smallpox Vaccine
- Botulism Vaccine
- Radiation Vaccine
Application Outlook (Revenue, USD Billion; 2019–2030)
End-use Outlook (Revenue, USD Billion; 2019–2030)
Global biodefense product Market Report: Regional Segmentation
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
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