Biodefense Market Size to Reach USD 20.13 Billion in 2028 | Rapid Advancements in the Field of Biotechnology and Availability of Advanced Biothreat Detection Devices are Some Key Factors Driving Industry Demand, According to Emergen Research

Rapid advancements in biotechnology has enabled production of biological weapons with unique and unpredictable characteristics. Emergence of innovations and newer technologies such as in nanotechnology, microbiology, and genetic engineering have helped to develop new vaccines and strategies to tackle biothreats. Biotechnology provides critical capabilities in defense against natural and man-made biothreats. Latest developments in biochemical detectors for recognition of biological targets, including measurement of products and enzymatic activities, and advancements in biothreat detector devices are other key factors driving revenue growth of the biodefense market.

Restraints: Low market penetration in developing and underdeveloped countries

Low market penetration and insubstantial government intervention and funding, especially in underdeveloped countries, for biodefense products are some major factors hampering growth of the market. In addition, continuous increasing population in developing countries along with existing health and economic crisis are some other key factors restraining growth of the market to a significant extent.

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Growth Projections

Global biodefense market size is expected to reach USD 20.13 Billion in 2028 and register a revenue CAGR of 5.4% over the forecast period, according to the latest report by Emergen. Favorable government initiatives, rise in demand for biodefense products, and increasing incidence of infectious diseases are factors driving biodefense market revenue growth.

COVID-19 Direct Impact

The COVID-19 pandemic has adversely affected market growth. Schools and universities closed and transitioned online for several months. Various countries registered mutations of the virus, which resulted in extension of lockdowns in pockets, especially in some emerging countries. This showed that governments of various countries were not prepared for medical emergency such as the COVID-19 pandemic. The pandemic also emphasized the importance of strong biodefense capabilities. Due to outbreaks of COVID-19, Nipah, and Ebola virus, governments of different countries are investing substantially in research and development to develop and store more COVID-19 and other vaccines, and the trend is expected to continue for the next few years.

Current Trends and Innovations

Advancements in biodefense technologies and innovations such as genetic engineering is boosting growth of the biodefense market. With the advent of genome engineering, the ability to manipulate bacteria and viruses at the molecular level has reached its greatest achievement. This has also opened up high potential for development of more superior and highly dangerous biological weapons. Genetic engineering also makes existing pathogens more transmissible, which is enhancing the potential of biological weapons, therefore making them more dangerous. Moreover, as biological agents are self-replicating, they can be transmitted from person to person making potential attack even greater.

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Geographical Outlook

Market in North America accounted for a significantly robust revenue share in 2020 owing to investments undertaken by the U.S. government for achieving medical preparedness against biological warfare. Furthermore, rapid technological advancements in the fields of biotechnology and nanotechnology is further expected to boost revenue growth of the market.

Market in Asia Pacific registered a significantly robust revenue share in 2020 and is expected to register a rapid growth rate over the forecast period. Rapidly expanding pharmaceuticals industry and increasing investment by countries such as China, Japan, and India in biodefense is driving market growth in this region.

Strategic Initiatives

In July 2020, Emergent BioSolutions Inc., ImmunoTek Bio Centers, LLC, and The Mount Sinai Health System announced their collaboration to develop, manufacture, and conduct clinical trials to evaluate Hyperimmune Globulin (COVID-HIG), funded by the U.S government. This collaboration will enhance response to COVID-19 in front line healthcare workers and will protect numerous lives.

Some Key Highlights From the Report

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Emergen Research has segmented the global biodefense market on the basis of product type, biothreat detection device type, end-use, and region:

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