The global biodefense market size is expected to reach USD 19.9 billion by 2027, expanding at a CAGR of 5.9%, according to a new report by Grand View Research, Inc. Biodefense can be briefly defined as comprehensive measures (identification, planning, and preparedness) taken to rehabilitate the biosecurity of a country concerning biological threats or infectious diseases that can be easily used as a bioweapon to instigate social destruction and bioterrorism. Biological threats can be naturally occurring, accidental, or deliberate in origin. Factors like the presence of favorable government initiatives, increasing investment by private players, and the growing prevalence of various viral agents are fueling the market growth.
Previous incidents of bioterrorism caused by viral agents like anthrax, smallpox, botulism have made biodefense a major focus area for advancements by countries to prevent bioterrorism. In 2017, the Centre for Disease Control and Prevention (CDC) stated that they had tracked more than 170 unique diseases globally and also identified outbreaks in more than 190 countries. In addition, according to the WHO, around 6, 50,000 people die of respiratory diseases associated with seasonal flu annually. Repeated outbreaks of the Zika and Ebola virus have coerced state governments to construct and strategize biodefense programs that will assist in planning and responding during future outbreaks. In 2018, the U.S government announced and issued the National Biodefense Strategy to manage the risk of biological incidents by detecting and containing biothreats at its source, promoting biomedical innovation, and improving emergency response. These factors are expected to boost market growth over the forecast period.
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Biodefense Market Report Highlights
• The anthrax segment dominated the market in 2019. These bioagents possess a high risk of the threat, can last long in the environment, and can be released easily into the environment
• Others product segment which includes Zika, Ebola and Marburg’s virus is expected to reciprocate highest CAGR over the forecast period due to rising outbreaks of diseases
• North America dominated the market in 2019 owing to the presence of high federal funding, technological advancements, and growing awareness among the population
• Asia Pacific is expected to reciprocate the highest CAGR over the forecast period owing to growing investment in R&D activities and the increasing threat of biowarfare.
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