Biodefense Market Size By Product (Vaccines {Anthrax, Smallpox, Botulism}, Biothreat Detection Devices {Samplers, Detectors/Triggering Devices, Identifiers, Assays And Reagents}), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, France,

Biodefense Market Size By Product (Vaccines {Anthrax, Smallpox, Botulism}, Biothreat Detection Devices {Samplers, Detectors/Triggering Devices, Identifiers, Assays And Reagents}), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, Brazil, Mexico, Argentina, South Africa, Saudi Arabia, UAE), Application Potential, Competitive Market Share & Forecast, 2018 - 2024

Biodefense Market will exceed USD 19 billion by 2024; as per a new research report.

Increasing government initiatives in developed as well as developing economies will drive the biodefense market growth during analysis period. Developing economies such as China have huge population and their economy relies on skilled human resource. Hence, government of China undertakes various decisions to protect its population from deliberate virus attacks that may weaken its economy due to loss of productivity. This will boost the demand for bio-threat detection devices and vaccines thereby, escalating the biodefense market growth in near future.

Government funding for development of superior quality vaccines for surviving bio-terrorism attack will augment the biodefense market growth. Government in developed countries encourage the biopharmaceutical and pharmaceutical firms to manufacture vaccines that help in boosting the immunity of individuals. Also, the government undertakes several initiatives that includes routine immunization against various endemic diseases such as small pox. Thus, growing government support will positively influence the industry growth. However, insufficient funding for R&D activities in under-developed economies will hamper the industry growth during the forecast period.

Bio-threat detection devices will grow at 6.6% CAGR during the analysis period. Newly developed biothreat devices are integrated with advanced technology and have the ability to provide accurate results in rapid testing. For instance, IMASS device developed by BBI detection contains coded test strips that can detect up to 8 biothreat agents. Recently developed biothreat detection devices deliver quick results that boosts its demand and triggers the segmental growth.

China biodefense market accounted for 27.8% revenue share in 2017 and is anticipated to have exponential growth during forecast timeframe. China has been a victim of huge biological warfare attacks from 1937 to 1945. Therefore, government in China is aware regarding the brutal impact of bioterrorism and undertakes several initiatives such as funding to research activities that boosts the biodefense activities. Aforementioned factor coupled with growing biotechnology sector in China will enhance the country growth.

Germany biodefense market was valued at USD 711.8 million in 2017. Government adopts certain initiatives to create awareness regarding the spread of endemic diseases due to deliberate release of microbes and viruses. Moreover, the regulatory bodies are involved in developing quality assurance program to maintain the standard of the biothreat devices that positively influences the industry growth.

Some of the eminent industry players operating in biodefense industry includes Altimmune, AISense, Emergent BioSolutions, Dynavax Technologies, SIGA Technologies, Elusys Therapeutics, Ichor Medical Systems, DynPort Vaccine Company, Cleveland BioLabs, Bavarian Nordic, Achaogen, Nanotherapeutics, Alnylam Pharmaceuticals, PathSensors and BBI Detection. Key industry players implement several strategies such as acquisition, mergers, geographic expansions and new product launch that enables them to achieve sustainable profits. Government signs contract with certain vaccine companies that also renders them with high revenue share. For instance, in April 2018, U.S. Department of Health and Human Services office is planning to purchase anthrax treatment from Elusys Therapeutics. Gaining such contracts from government will positively impact company’s growth.