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Biodefense Market Trends

Report ID: GMI714
Published Date: Apr 2022
Report Format: PDF

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Biodefense Market Trends

During the analysis period, increasing technical breakthroughs will have a beneficial influence on the market growth. As a result of the rise in bioterrorism, prominent industry players have incorporated advancements to biothreat detection systems that aid in the effective identification of bacteria and viruses. The availability of technologically sophisticated biothreat detection technologies will safeguard the population's safety and security, boosting the market growth. However, low government R&D funding for creating vaccines against bioterrorism attacks in emerging and undeveloped nations may limit the growth of the biodefense market to some extent.

Authors: Mariam Faizullabhoy, Gauri Wani

Frequently Asked Questions (FAQ) :

Biodefense industry revenue was valued at around USD 15.6 billion in 2021 and is anticipated to exhibit an 8.7% CAGR between 2022 and 2028 driven by several safety measures initiated by the government across the developed countries.

Biodefense is a combination of several processes and systems that are put in place by customs agents, bioscience laboratories, among other professionals to prevent the usage of dangerous pathogens and toxins.

The vaccines product segment accounted for over 64.5% of the biodefense market share in 2021 owing to their rising production rate to prevent the spread of various viruses.

North America held around 41.6% of the biodefense business revenue share in 2021 and is pegged to observe a notable CAGR through 2028 led by the escalating threat of harmful biological materials.