The global biodefense market size is expected to reach USD 6.50 billion by 2025, growing at a CAGR of 4.5% over the forecast period

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Apr 18, 2019, 16:30 ET

LONDON, April 18, 2019 /PRNewswire/ -- Biodefense Market Size, Share & Trends Analysis Report By Product (Anthrax, Small Pox, Botulism, Radiation/Nuclear), By Region (North America, Latin America, Europe, Asia Pacific, MEA), And Segment Forecasts, 2019 - 2025

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The global biodefense market size is expected to reach USD 6.50 billion by 2025, growing at a CAGR of 4.5% over the forecast period. The market is majorly driven by rising focus of the public agencies on mitigating the risk of Chemical, Biological, Radiological and Nuclear (CBRN) threats and increased funding for biodefense. Biomedical Advanced Research and Development Authority (BARDA), National Interagency Confederation for Biological Research (NICBR), and National Institute of Allergy and Infectious Diseases (NIAID) are major organizations that provide financial support for biodefense research and stockpiling in U.S.

Ongoing research for the development of vaccinations and anti-toxins against biological threats, such as Zika virus, is also one of the key drivers contributing to the market growth.For instance, Ohio State University is undertaking a progressive research to develop a vaccine against the Zika virus that has proven beneficial results in the mice models.

According to a survey, in Brazil, around 2,952 confirmed cases of Zika-related microcephaly in newborns were reported. Thus, rising risk of biological threats and subsequently rising R&D funding are augmenting the growth of this market.

Presence of EUA policy in U.S. is also positively impacting the market growth. The EUA policy empowers FDA Commissioners to allow and authorize the usage of a medical product(s) for commercial use, at the time of a declared emergency in the country posing a threat to public health, that are currently unapproved or an application of an approved medical product for a particular indication is unapproved by the FDA. The government agencies issued the EUA policy for antiviral drugs to fight against diseases, such as Zika virus infection and swine flu.

Further key findings from the study suggest:
• Anthrax held the largest share in 2018 owing to increased investments by government agencies and collaborations between public and private companies to develop and stockpile anthrax vaccines
• Others segment consists of chemical and biological products. It accounted for the second-largest revenue share in 2018
• Small pox is expected to be the fastest-growing product segment of the global biodefense market over the forecast period
• North America was the largest regional market owing to favorable government initiatives and funding in the field of biodefense
• Europe is expected to witness the maximum growth rate from 2019 to 2025 on account of growing focus of the European countries to enhance the preparedness against CBRN threats
• Some of the key companies in the global market include PharmAthene, Inc.; Emergent BioSolutions, Inc.; SIGA Technologies, Inc.; and Xoma Corporation

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