Global Biodefense Market to amass US $1390 Mn by 2024

September 24, 2019

According to the latest study titled ‘Global Biodefense Market Growth 2019-2024’ available with Market Study Report LLC, the global biodefense market size is projected to reach US $1390 million by the year 2024.

Biodefense market implies to pharmaceuticals, antibodies and vaccines which are used in the treatment of various contagious diseases, whether the disease occurs naturally or introduced on purpose as an act of bioterrorism. The biodefense products provide immunity against smallpox, anthrax, nuclear disasters, botulism and other disasters.

As per the report, after the 2001 anthrax attacks, the United States government decided to prepare the country for bioterrorism emergency by stockpiling and developing new vaccines and drugs. Since 2004, the U.S. government has aided the manufacturing and development of products to maintain its Strategic National Stockpile and to fight against any bioterror attack.

The study states that the U.S. is still one of the leading supplier and consumer, due to the presence of highly developed pharmaceuticals technology and improved awareness towards the threat of global terrorism. In 2015, the U.S. dominated the biodefence market with 80% consumption share, claims the report.

Based on product type, global biodefense market is segmented as anthrax, smallpox, nuclear/radiation, botulism, and other defense products. The anthrax defense segment dominated the biodefence market with 40% share in 2019. Smallpox and botulism defense product segments contributed 30% and 14% shares, respectively, in the same year. Moreover, based on application spectrum, the market is fragmented as US military market, US civilian market, and non-US market.

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According to the study, biodefense market was valued at US $850 million in 2019 and is anticipated to grow with a CAGR of 8.5% over the projected timeline. The study also provides a comprehensive understanding about the market trends, drivers, challenges, and opportunities.

The key players operating biodefense market profiled in the report comprise of Emergent Biosolutions,  GSK, Hytest, Sanofi, PharmAthene, Xoma Corporation, Elusys Therapeutics, Bavarian Nordic, DynPort Vaccine, Arbutus Biopharma, Aeolus Pharmaceuticals, Achaogen, Dynavax Technologies, Ichor Medical Systems, Cleveland BioLabs, Soligenix, SIGA Technologies, and Alnylam Pharmaceuticals.

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