Latest News- Biodefense Market: Vaccines is expected to lead the Type segment during 2024-2028

The Biodefense Market is being driven by Increasing threat posed by biological agents

The Biodefense Market is expected to grow at a CAGR of -4.96% during 2023 and 2028. During this period, the market is also expected to show a growth of USD -7161.34 million. In the highly competitive global biodefense market, companies are implementing strategic business maneuvers to gain a competitive edge. These strategies include partnerships, mergers and acquisitions (M&A), and new product launches. For instance, in June 2022, Emergent BioSolutions Inc. submitted the Biologics License Application (BLA) for AV7909 (Anthrax Vaccine Adsorbed, Adjuvanted) to the US Food and Drug Administration (FDA) for review. Additionally, in May 2022, Emergent BioSolutions announced a strategic collaboration with another industry player to expand its geographical reach and enhance its product portfolio. These strategic alliances enable vendors to accelerate product development, broaden their market presence, and fortify their market position. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Type
  • Vaccines
  • Drugs
• Application
  • COVID 19
  • Anthrax
  • Smallpox
  • Botulism
  • Others
• Geography
  • Asia
  • North America
    • US
  • Europe
    • Germany
    • UK
  • Rest of World (ROW)

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increasing threat posed by biological agents
• Rising threat of bioterrorism
• Growing public awareness of impact of infectious diseases

However, the market also witnesses some limitations, which are as follows:

• Lack of information about bioengineered organisms attack
• Dearth of trained professionals
• High risks associated with R and D related to biodefense

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Market Scope in Biodefense Market Research Report

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Research Analysis Overview

The biodefense market encompasses the development, production, and implementation of measures to protect against biological threats, including biological weapons such as viruses, bacteria, chemical agents, and radioactive agents. These threats can cause significant harm to human health and national security, making biodefense a critical area of focus. Biological agents include infectious agents like viruses and bacteria, such as anthrax, botulism, and smallpox, as well as biological toxins produced by organisms like botulinum and ricin. Biotechnology and genetic engineering have advanced our ability to understand and counter these threats, but they also pose new challenges in terms of biosecurity. Military measures, such as stockpiling vaccines and antidotes, and developing protective equipment and decontamination technologies, are essential components of biodefense. Medical measures, including the development of effective treatments and diagnostics, are also crucial. Companies like Emergent Bioscience are at the forefront of the biodefense market, providing solutions for the detection, diagnosis, and response to biological threats. For example, they produce anthrax vaccines and have developed a rapid anthrax diagnostic test using anthrax spores. The biodefense market is expected to grow significantly in the coming years as the threat of biological weapons continues to evolve.

Market Research Overview

According to Technavio, the global biodefense market is a segment of the expansive global pharmaceuticals market, which is a key component of the healthcare industry. The pharmaceuticals market encompasses entities involved in R&D or manufacturing of various pharmaceutical products, including generic and non-generic drugs, and veterinary medicines. The global healthcare market's size is determined by the consolidated revenue generated by providers of medical equipment, supplies, pharmaceuticals, biotechnology, and life sciences tools and services. The growth of the global pharmaceuticals market is anticipated to be driven by several factors, including the increasing global population aging, with the number of individuals over 60 years projected to rise significantly.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
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