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  • Published In : Jun 2024
  • Code : CMI4516
  • Pages :167
  • Formats :
      Excel and PDF
  • Industry : Pharmaceutical
Market Challenges: Ethical concerns & high manufacturing costs

Ethical concerns surrounding some biodefense technologies have slowed market adoption and created regulatory hurdles. As biotechnologies advance the ability to genetically modify or create harmful pathogens, difficult questions arise around dual-use risks. Governments and oversight bodies struggle to balance security needs with preventing misuse that could endanger public health. Lengthy review and licensing procedures aim to ensure technologies only target legitimate threats, but this scrutiny increases development timelines and costs. Some promising areas like gene drives that could eliminate wild virus carriers face fierce opposition from those worried about environmental or socially unequal impacts. Addressing these societal anxietals in a transparent, inclusive manner is critical to gaining broad acceptance for biodefense solutions. High manufacturing costs also pose a barrier, as developing and producing medical countermeasures for rare and emerging diseases has little initial commercial viability. According to the WHO, between 2017 and 2019 fewer than 5% of global health R&D funding was allocated for diseases that account for almost 90% of the global disease burden.

Market Opportunities: Growing Partnerships and collaborations

Partnerships and collaborations could provide significant opportunities for growth in the biodefense market by facilitating research and development. Working together, public and private entities have better potential to address today's complex biosecurity challenges. No single organization possesses all the necessary resources and expertise to tackle threats such as pandemics or biological attacks on their own. Through cooperation and shared knowledge, partners can achieve more advanced scientific understanding and technological solutions than any could alone. For example, the International Centre for Genetic Engineering and Biotechnology has brought together over 30 international scientific institutions to work on rapid detection kits, vaccines, and therapeutics against potential biological weapons agents. Collaboration also allows partners to capitalize on their respective strengths. Government research agencies can provide long-term funding support for basic research while private firms contribute applied science, manufacturing capabilities, and marketing networks.

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