Supportive government initiatives in medical countermeasure preparedness against biological threats is a significant factor estimated to stimulate market demand.
Market Size – USD 5.39 billion in 2018, Market Growth - CAGR of 4.4%, Market Trends – Increasing incidences of infectious diseases
NEW YORK, May 16, 2019 (GLOBE NEWSWIRE) -- The global biodefense market is expected to reach USD 7.64 Billion by 2026, according to a new report by Reports and Data. Biodefense involves the use of medical procedures to safeguard individuals against bioterrorism. Biodefense comprises interventions like drugs and vaccinations along with research and public health preparations to countermeasure bioterrorism.
Request free sample of this research report at: https://www.reportsanddata.com/sample-enquiry-form/1410
Supportive government initiatives in medical countermeasure preparedness against biological threats is a significant factor estimated to stimulate market demand during the forecast period. Governments across the globe, especially in developed countries, make massive funding every year for the R&D of vaccines to thwart any biological threat. The Biomedical Advanced Research and Development Authority (BARDA), a part of the U.S. Department of Health and Human Services’ Office of the Assistant Secretary for Preparedness and Response, was established in 2006 to help keep the nation safe from chemical, biological, radiological, and nuclear (CBRN) threats, along with a focus on pandemic influenza (PI) and emerging infectious diseases (EID). The initiatives of governments worldwide open a window of opportunities for the firms involved in the biodefense sector.
In 2001, a week after the 9/11 attacks, members of the media and certain politicians received letters laced with anthrax spores. The bioterror attack infected 17 people and caused death to 5 people. In the event of further occurrence of such kind of attacks, various organizations are putting in efforts to reduce threats and to improve civilian and military preparedness, defense, and response capabilities. NIAID biodefense research priorities comprise basic research; genomics research, the expansion of research infrastructure, and the development of new diagnostics, therapies, and vaccines to protect civilians against biological threats.
Additionally, rapid technological advancements coupled with increased investments in biodefense activities especially in developed countries is anticipated to boost market demand in the future.
However, low market penetration of these products in developing and underdeveloped nations may create hindrances in the growth of the market in the forecast period.
Further key findings from the report suggest
- Anthrax vaccines contributed to the largest market share in 2018 and is expected to have a CAGR of 4.1% while maintaining its dominance throughout forecast period. Its growth is attributed to increase spending by the governments across the globe to develop and store sufficient vaccines against anthrax.
- The civilian segment is anticipated to account for a significant share of the market over the forecast period.
- North America held the largest market share of over 70% in 2018 and is expected to witness a growth rate of 4.2% in the forecast period. The U.S. government implements a number of initiatives that assist them in reinforcing security against biological threats.
- Moreover, several programs focused on preparedness and prevention of intentional or accidental releases of biological agents will fuel the market growth in the forecast period.
- Key participants include Altimmune, Emergent BioSolutions, SIGA Technologies, Elusys Therapeutics, Ichor Medical Systems, DynPort Vaccine Company, Cleveland BioLabs, Bavarian Nordic, Achaogen, and Alnylam Pharmaceuticals among others.
- In March 2019, Emergent BioSolutions, a significant company in the market, announced to begin a Phase 3 trial of AV7909, new anthrax vaccine. The Phase 3 trial will assess the immunogenicity, lot consistency, and safety of the vaccine. AV7909 is intended to produce a faster immune response than other anthrax vaccines that are currently available.
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/biodefense-market
Segments covered in the report:
For the purpose of this report, Reports and Data have segmented global biodefense market on the basis of product type, application, sales channel, and region:
Product Type Outlook (Revenue, USD Million; 2016-2026)
- Anthrax Vaccine
- Small Pox Vaccine
- Botulism Vaccine
- Radiation Vaccine
- Others
Application Outlook (Revenue, USD Million; 2016-2026)
- Military
- Civilian
Sales Channel Outlook (Revenue, USD Million; 2016-2026)
- Direct Sales
- Distribution
Order Now: https://www.reportsanddata.com/checkout-form/1410
Regional Outlook (Revenue, USD Million; 2016-2026)
- North America
- U.S.
- Europe
- UK
- France
- Asia Pacific
- China
- India
- Japan
- MEA
- Latin America
- Brazil
Browse more reports of Pharmaceutical category at: https://www.reportsanddata.com/report/category/pharmaceutical
About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power, and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.
Contact Us:
John Watson
Head of Business Development
Reports And Data | Web: www.reportsanddata.com
Direct Line: +1-800-819-3052
E-mail: sales@reportsanddata.com