Biodefense Market Size to Grow by $ 5.41 Billion through 2021-2025
Technavio research projects the global biodefense market to grow by $ 5.41 billion, accelerating at a CAGR of over 7.08% till 2025. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking
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Biodefense Market: Key Market Driver
One of the primary factors that will trigger the growth of the biodefense market size is rising prevalence of infectious diseases. Demographic changes caused by increased globalization and urbanization are among major factors leading to the global emergence of infectious diseases.
Many genetically engineered biological agents such as the weaponized Ebola virus can be spread through the air and do not depend on any physical medium to spread their effect. Other bioweapons such as anthrax spores can be engineered to make them deadlier than the original form. Bioterrorism may have a higher impact on human life compared with conventional terrorism, as it can be spread through food, water, air, and animals. Hence, the need for preventive measures will drive the growth of the biodefense market.
The significant investments in the defense sector by the US will facilitate the biodefense market growth in North America over the forecast period. 48% of the market growth will originate from North America during the forecast period. The US is a key market for biodefense in the region and market growth in is expected to be faster than the growth of the market in other regions.
This research report provides a comprehensive analysis of all the factors that are likely to propel market growth, taking into account the market trends as well as challenges that are likely to impede growth. The objective of this research report is to equip clients with actionable insights that will help them leverage opportunities and formulate growth strategies for their business.
Biodefense Market: Vendor Analysis
The market is fragmented due to the presence of several players. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. Alexeter Technologies LLC, Alnylam Pharmaceuticals Inc., Altimmune Inc., ANP Technologies Inc., Bavarian Nordic AS, Cleveland BioLabs Inc., Elusys Therapeutics Inc., Emergent BioSolutions Inc., General Dynamics Corp., and GlaxoSmithKline Plc are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.
Technavio also offers custom research reports with detailed insights assessing the market from a global as well as regional perspective. This customized report will help clients keep up with new product launches in direct & indirect or related markets. It will also provide insights on upcoming developments along with a pipeline analysis of vendor operations and the impact of government regulations.
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