Biodefense Market to hit USD 27.6 Billion by 2028: Says Global Market Insights Inc.

Biodefense Industry is anticipated to register 8.7% CAGR between 2022 and 2028 impelled by the rising government initiatives for stocking vaccines and detection devices.

SELBYVILLE, Del., April 14, 2022 /PRNewswire/ -- The biodefense market value is projected to reach USD 27.6 billion by 2028, according to a new research report by Global Market Insights Inc. Increasing government initiatives to ensure security of the population will drive the business landscape.

Technological advancements in biotechnology sector in developed countries such as the U.S. and Germany will positively influence the industry expansion. Advancements in biotechnology have enabled development of superior quality attenuated and subunit vaccines. These are typically utilized in treating viral and bacterial infections caused due to sudden release of viruses.

In addition, key industry players are focusing on introduction of innovative technologies to detect the biothreats. For instance, IMASS device developed by BBI detection contains coded test strips that can detect up to eight biothreat agents. Recently developed biothreat detection devices deliver quick results that boosts its demand.

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Biodefense market from biothreat detection devices segment exceeded 5.4 billion in 2021. This is owing to wide availability of advanced biothreat detection devices to ensure security and safety of the population coupled with increasing demand for identifiers. Identifier is a device that detect biological agent with highest accuracy. Identifier detects common biothreat agents such as ricin, botulinum toxin, smallpox, anthrax, tularemia, black plague. It has also been proven to detect airborne SARS-CoV-2. Furthermore, the rising demand for research of infectious agents that causes public health concern are anticipated to propel the segment progression.

Some major findings of the biodefense market report include:

• Rising risk of infectious disease prevalence is expected to spur the industry statistics.
• Growing adoption of gene chips for pathogen detection in the field of forensics, nanotechnology and biodefense-related drug development will foster the market trends.
• Increasing awareness regarding bioterrorism attacks in developed economies will significantly fuel the business outlook.
• Rising R&D activities in the field of biotechnology and the availability of advanced biothreat detection devices, are set to enhance the market share.
• The emergence of COVID-19 boosts the demand for medical measures and threat detection procedures. Additionally, there is an increased production of vaccine and high demand for detection kits and quick diagnostics.

Browse key industry insights spread across 110 pages with 164 market data tables & 8 figures & charts from the report, "Biodefense Market Forecasts By Product (Vaccines {Anthrax, Smallpox, Botulism}, Biothreat Detection Devices {Samplers, Detectors/Triggering Devices, Identifiers, Assays and Reagents}, Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2022– 2028" in detail along with the table of contents:

https://www.gminsights.com/industry-analysis/biodefense-market   

Asia Pacific biodefense market held 19.9% business share in 2021 due to rising threat of bioterrorism. Countries such as India and China have adopted several defense strategies that will augment the demand for efficient vaccines. Furthermore, growing awareness regarding bioterrorism attacks in developing countries will significantly boost the APAC market expansion.

For instance, Integrated Disease Surveillance Program (IDSP) is a decentralized, state-based surveillance program that was launched in India for early warning and timely response to impending disease outbreaks. Moreover, increasing focus of regional industry players on developing technologically advanced biothreat detection devices will fuel the regional revenue.

Some of the major companies operating in the biodefense market include Alexeter Technologies, LLC, Altimmune, ANP Technologies, Bavarian Nordic, BioFire Defense (bioMérieux SA), Biosearch Technologies, Bruker Detection, Electronic Sensor Technology Inc., Elusys Therapeutics, Emergent BioSolutions, Ichor Medical Systems, Inc., Nanologix, New Horizon Diagnostic Corp., PositiveID Corporation, SIGA Technologies, Smiths Detection Group Ltd., and Synexis Systems.

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About Global Market Insights

Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.

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