Global Biodefense Market Growth Fuelled by Growing Threat of Bioterrorism | Technavio
The global biodefense market is expected to grow at a CAGR of more than 5% from 2017-2021, according to a new market research report by Technavio.
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Technavio has published a new market research report on the global biodefense market 2017-2021 under their aerospace and defense library. (Graphic: Business Wire)
Global biodefense market by application and geography
Technavio’s report on the global biodefense market analyses the business dimensions and presents a comprehensive breakdown in terms of market segmentation by application, including anthrax, smallpox, and botulism. As projected in 2016, around 36% of the market share originated from anthrax.
Based on geography, the global biodefense market has been segmented into the Americas, EMEA, and APAC. As of 2016, around 65% of the market share came from the Americas.
“The Americas, more specifically the US, dominated the global biodefense market in 2016. The Americas will continue to lead the market during the forecast period because of significant investments in the defense sector by the US. Instances of bioterrorism in the past and impending bioterrorism attacks propel the growth of the market,” says Sapna Jha, a lead analyst at Technavio for homeland security research.
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Global biodefense market: competitive vendor landscape
The global biodefense market is led by companies such as Emergent BioSolutions, DVC, Altimmune, and Bavarian Nordic. The advances in R&D activities, the launch of novel therapies, and increasing funding from various government organizations are the factors that will contribute to the development of better treatment opportunities for the biological terrorism agents. Along with rising financing, increasing mergers and acquisitions will lead to the higher dominance of the big players in the market.
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Other topics covered in the report:
Market drivers:
- Growing threat of bioterrorism
- Rapid increase in government funding in R&D
Market challenges:
- Lack of information about bioengineered organisms attack
- Lack of trained professionals
Market trends:
- Government initiatives
- Growing collaborations and M&A
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