LONDON--(BUSINESS WIRE)--The global biodefense market is expected to grow by USD 3.22 billion as per Technavio. This marks a significant market growth compared to the 2019 growth estimates due to the impact of the COVID-19 pandemic in the first half of 2020. Steady growth is expected to continue throughout the forecast period, and the market is expected to grow at a CAGR of over 8%.
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Market estimates include pre- and post-COVID-19 impact on the biodefense market - Request free sample pages
The global biodefense market is expected to have a positive impact due to the spread of COVID-19. The extension of containment efforts is leading to higher demand and reduced production. Hence, prices are expected to remain elevated during the short term, thereby resulting in an improved topline growth of market vendors.
Technavio's custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.
The market is driven by the growing threat of bioterrorism. In addition, government initiatives are anticipated to boost the growth of the biodefense market.
Bioterrorism is the intentional release or spread of harmful biological agents for mass destruction of life. They can be distributed in the form of viruses, fungi, protozoa, or bacteria. Bioterrorism agents are relatively inexpensive and easy to obtain compared to weapons and chemical agents. They adversely affect human health, and range from mild allergic reactions to life-threatening medical conditions. Bioterrorism has a higher impact on human life compared to conventional terrorism, as it can be spread through food, water, air, and animals. Considering the severity of effects caused by bioterrorism and its potential use for mass destruction, countries across the world are focusing on developing preventive measures, which is fueling the growth of the biodefense market.
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Major Five Biodefense Companies:
Alexeter Technologies LLC
Alexeter Technologies LLC operates its business through the Product segment. The company offers NasoShield. It is an intranasal vaccine designed to provide rapid, stable protection against anthrax after a single administration.
Alnylam Pharmaceuticals Inc.
Alnylam Pharmaceuticals Inc. operates its business through the Products segment. The company offers RNAi-based treatments for infection with hemorrhagic fever viruses that cause Ebola and Marburg disease.
Altimmune Inc. operates through a unified business segment. The company is engaged in the development of advanced medical countermeasures to combat the risk of terrorist attacks with biological or chemical weapons.
ANP Technologies Inc.
ANP Technologies Inc. operates its business through the Product segment. The company offers NIDS Biothreat Detection System. It consists of a handheld standalone reader, multiplexed handheld assays, multipurpose sampling kits, and PC software for data management.
Bavarian Nordic AS
Bavarian Nordic AS operates through a unified business segment. The company offers JYNNEOS. It is indicated for the prevention of smallpox and monkeypox disease in adults aging 18 years and older determined to be at high risk for smallpox or monkeypox infection.
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Biodefense Market Application Outlook (Revenue, USD Billion, 2020-2024)
Biodefense Market Geography Outlook (Revenue, USD Billion, 2020-2024)
- North America
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