Biodefense Market Size is forecasted to reach US$ 8,350.74 Mn in 2027 Says, The Insight Partners

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Rising number of naturally occurring outbreaks is expected to drive the growth of the biodefense market

NEW YORK, UNITED STATES, March 16, 2022 /EINPresswire.com/ -- According to The Insight Partners new market research study of ‘Biodefense Market to 2027 – Global Analysis and Forecasts by Product.’ The global Biodefense market is expected to reach US$ 8,350.74 Mn in 2027 from US$ 4,108.24 Mn in 2019. The market is estimated to grow with a CAGR of 9.4% from 2020-2027. The report provides trends prevailing in the global biodefense market and the factors driving market along with those that act as hindrances.

Biodefense is referred to the measures taken to restore biosecurity of a group of organism that are, or may be, subject to biological threats or infectious diseases. It is an effective public health care system with strong disease surveillance and rapid actions designed to counter biological threats, to limit the spread of disease and provide surge medical care. The growth of the market is attributed to the some key driving factors such as presence of favorable government initiatives increase in the number of naturally occurring outbreaks, increasing threat of biological weapons and nuclear armed ICBM.

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Leading companies operating in the biodefense market are Bavarian Nordic, Alnylam Pharmaceuticals, Inc., SIGA Technologies, Emergent BioSolutions Inc., Cleveland Bio Labs, Dynavax Technologies, Elusys Therapeutics, Inc., Soligenix, Altimmune, and Pluristem Therapeutics.

The North America region is the held the largest market for the biodefense during the forecast period. Biological threats occurring to humans, animals and environment are among the most serious issues faced by the US and its national community. As the biological threat continues to increase, the US is focused towards strengthening its capabilities and considering preparation for bio threats and bioterrorism as one of the critical aspects of national security. The Canadian market for biodefense is likely to augment owing to increasing number of disease outbreaks and development of novel vaccines to curb the epidemics. On the other hand, fluctuations in funds for biodefense in Mexico are likely to account for its moderate growth over the coming years.

The growth of the market is attributed to the some key driving factors such as presence of favorable government initiatives increase in the number of naturally occurring outbreaks, increasing threat of biological weapons and nuclear armed ICBM. However, low R&D funding by government in developing and underdeveloped economies are expected to restraint the growth of the market during the forecast years.

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Biological weapons (BWs) deliver toxins and microorganisms, such as viruses and bacteria, so as to intentionally inflict disease among people, animals, and agriculture. Biological attacks can result in destruction of crops, temporarily discomforting a small community, killing large numbers of people, or other outcomes. Biological weapons have a long history of use. In 1346, the invading Tartar army catapulted the bodies of plague victims into the Crimean Peninsula city of Kaffa and infected its citizens. In 1763, British troops under General Jeffrey Amherst gave the Delaware Indians blankets used by people with smallpox, possibly infecting the susceptible native population. Japan contaminated food and released plague-infected ticks during their conflict with China during World War II. The 2001 anthrax letter attacks in the United States infected 22 people and killed five. Although recent advances in biotechnology have made it easier to develop dangerous viruses, bacteria, and toxins with fewer resources. This has increased concerns that individuals and groups could resort to bioterrorism to attack a population. Hence, as the threat for biological weapon and nuclear armed ICBM is increasing, governments of various countries are actively funding for biodefense, thereby, positively propelling the global market.

Several organic approaches, such as product launches, and expansion/relocation in the biodefense market, have resulted in the positive growth of the market. Product launches help the company to strengthen its product offering and the customer base, which allows the company to hold a strong position in the market. Similarly, utilizing expansion activities, it is easy to venture into untapped economies and use the opportunities being offered.

Below is the list of the growth strategies done by the players operating in the biodefense market:

In March-2020 - Alnylam Pharmaceuticals and Vir Biotechnology have expanded their partnership collaboration to include RNAi therapeutics, which is likely to treat SARS-CoV-2 infection, the coronavirus causing the current outbreak, COVID-19.

In June-2019 - SIGA announced collaboration with Turnstone Biologics to provide TPOXX (tecovirimat) in connection with Turnstone’s proprietary SKV vaccinia oncolytic immunotherapy platform. The collaboration will provide Turnstone with access to SIGA’s TPOXX oral antiviral capsules for use if required in future clinical programs.

In December-2016 - Emergent BioSolutions Inc. received the Health Canada Approval for the company’s New Drug Submission (NDS) for its botulism antitoxin, BAT [Botulism Antitoxin Heptavalent (A, B, C, D, E, F, G) - (Equine)].

In April-2018 - Pluristem Therapeutics Inc. received FDA approval for the company’s Investigational New Drug (IND) application for its PLX-R18 cell therapy in the treatment of acute radiation syndrome (ARS).

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Sameer Joshi
The Insight Partners
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