Global Biodefense Market, By Product (Anthrax, Small Pox, Botulism, Radiation, and Others), By End User (Hospitals, Ambulatory Care Centers, Research Organizations, Military, and Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), is estimated to be valued at US$ 12.2 billion in 2021, and is expected to exhibit a CAGR of 4.8% during the forecast period (2021-2028).
Rising number of product approvals and launches are expected to drive growth of the global biodefense market during the forecast period. For instance, on September 24, 2019, the U.S. Food and Drug Administration (FDA) approved a new vaccine that prevents both smallpox and the related disease called monkeypox in adults. The vaccine, marketed as JYNNEOS, was developed by biotechnology firm Bavarian Nordic, and tested by the U.S. Army Medical Research and Development Command's (USAMRDC) U.S. Army Medical Research Institute of Infectious Diseases (USAMRIAID).
Market players engaged in development of vaccine collaborative centers are expected to propel the growth of the global biodefense market during the forecast period. For instance, on June 29, 2021, Sanofi S.A., a multinational biopharmaceutical company, announced a US$ 474 million annual investment in a first-of-its-kind vaccines mRNA Center of Excellence, by bringing together 400 dedicated employees. The center aims to accelerate the development and delivery of next-generation vaccines by integrating end-to-end mRNA vaccine capabilities with dedicated R&D, digital, and chemistry, manufacturing, & controls (CMC) teams.
Global Biodefense Market- Impact of Coronavirus (COVID – 19) Pandemic
The COVID-19 pandemic has a positive impact on the global biodefense market, owing to the increase in preparedness plans and awareness programs related to biodefense. For instance, on February 18, 2021, the European Union (EU) launched a biodefense preparedness plan for COVID-19 variants. The "HERA Incubator" project aims to serve as a blueprint for the EU's long-term preparedness for health emergencies. Actions are being taken in the establishment of the European Health Emergency Preparedness and Response Authority (HERA), which will thus serve as a permanent structure for risk modelling, global surveillance, technology transfers, supply chain risk mapping, flexible manufacturing, and for vaccine and medicine’s research and development. These factors are expected to support the growth of global biodefense market.
Browse 33 Market Data Tables and 25 Figures spread through 167 Pages and in-depth TOC on Global Biodefense Market, By Product (Anthrax, Small Pox, Botulism, Radiation, and Others), By End User (Hospitals, Ambulatory Care Centers, Research Organizations, Military, and Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
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