Biodefense Market Set to Witness an Uptick during 2020 to 2027Posted by Mrudula Anil Karmarkar on January 24th, 2022 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. Biodefense is a set medical or military measures that are taken in response to restoring biosecurity of a country against biological toxins or infectious agents that can be used with an intent to kill or infect humans, animals, or the environment and to instigate biological warfare. Agents used for bioterrorism can be living organisms, such as bacteria, viruses, fungi, and toxins. These agents can be used deliberately to infect humans and to kill them to create social and economic turmoil. Factors such as favorable government initiatives in the U.S., growing investment from private players, increased government focus and funding towards biodefense strategies, and growing prevalence of various agents such as the Ebola Virus, Zika Virus, and Flu, are driving the market for biodefense. The advent of technological advancement in the field of genetic engineering and biotechnology in the last decades has provided ease in modifying these fatal and naturally occurring viruses, which can be re-engineered to create more harm. Moreover, these organisms can be easily obtained which makes biodefense a crucial aspect for countries around the world. Biological agents that have been used as a carrier for bioterrorism in the past include anthrax, botulism, and chemical and nuclear agents and caused serious economic vandalism. These instances had made government construct biodefense acts, treaties, and policies to counter biological threats, reduce risks, and prepare for, respond to, and recover from bio-incidents. To Request Sample Copy of this report, click the link: https://www.grandviewresearch.com/industry-analysis/biodefense-market/request/rs1 Governments of many countries have been collaborating with several international partners to support response activities and increase preparedness. For instance, an experimental single-dose Ebola vaccine manufactured by Merck [rVSV-ZEBOV-GP] has been authorized under safe use by the World Health Organization and DRC MoH. As of November 17, 2020, approximately 250,000 persons at risk for Ebola have been vaccinated. Developed economies are sending aids to countries with weak medical infra and low research capabilities many companies like Bavarian Nordic and Ology Bioservices are carrying out researches on Ebola and Zika virus. Biodefense Market Report Highlights
The market for biodefense is highly competitive in nature. One of the key factors driving competitiveness among market players is the rapid adoption of advanced technology to develop vaccines and drugs. Key players are rapidly opting for strategic collaborations with the governments to receive bulk orders and to increase sales volume in emerging and economically favorable regions. Many companies are partnering with each other to develop drugs to introduce their products faster in the market for biodefense. For instance, in March 2020, Ichor Medical Systems, Inc. which is a privately-held biotech company announced that it had entered into a collaboration and research license agreement with AstraZeneca for the development and clinical assessment of plasmid DNA constructs (recombinant monoclonal antibody). Under the terms of the agreement, Ichor will receive upfront and annual payments along with developmental milestones. Some of the prominent players in the biodefense market include:
About Grand View Research Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare. Like it? Share it!More by this author |