Biodefense Treatment Market
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The COVID-19 pandemic has been instrumental in creating a monumental loss of lives and damage to the economy, social stability and global security. In many ways, it has raised questions about biological warfare, reigniting conversations around biodefense.
Despite the United Nations convention against biological warfare, the possibility of bioterrorist attack seems to be real more than ever. To battle the threat of biological threats and rogue pathogens, countries are expected to expand their budgets for research and development of biodefense treatments. In the light of these current affairs, the demand for biodefense treatment market is likely to witness an exponential rise in the next five years, predicts Fairfield Market Research.
Growing Geo-political Conflicts to Drive Global Biodefense Market Growth
The ever- growing threat of bioterrorism, coupled with rising geo-political tensions across the world have given every reason to nations to strengthen their arsenal. Governments from all corners are ramping up defence budgets with dedicated allocations to biological and chemical defence mechanisms.
Multitude geo-political escalations around the world and the recent pandemic have alerted defence strategists to rethink solutions. From the Middle East to South China Sea, many countries are locking horns to gain geo-strategic upper-hand.
Increase in mass awareness in relation to serious implications of bio threats have resulted in soaring demand for defensive systems and products. The growing emphasis on public health services towards development of diagnostics and procedures to detect bio threat agents is also driving the biodefense treatment market.
Technological advent in the discovery of pathogens in the fields of nanotechnology, forensics and biodefense-related drug development has helped market growth in recent times. As COVID-19 pandemic remains far from over, the already growing biodefense treatment market has set the tone for an upward momentum in R&D activities.
Vaccines to be Key Line of Defence against Biothreat
Vaccines was leading the product segment in terms of revenue as of 2019. There is significant interest from large biopharmaceutical companies in R&D activities. Heavy government expenditures in the development of vaccines across the globe is expected to continue as contain the pandemic. The U.S. government is working on the development and manufacturing of products to counter any bioterror attacks under Strategic National Stockpile (SNS).
The detection devices segment is expected to show moderate growth till 2025. There is a growing adoption of rapid detection systems, which will trigger further segment growth. The detection devices, is key component of US $100 billion federal effort to increase the nation’s bio-defence post 9/11.
U.S. Holds Top Position with Considerable Federal Expenditure
Biodefense strategies from government departments of the United States viz. HHS, BARDA, NIAID and ASPR are helping the U.S. market to dominate the global market. Meanwhile, Europe is going to be fastest-growing region till 2025 as top countries in the region have scaled up R&D expenditure during COVID-19.
Emerging markets from Asia Pacific region are fast catching up with their global counterparts with heavy R&D expenditure for development and manufacturing of COVID-19 vaccines and other antitoxins for the different biological threats. Fairfield Market Research indicates that Australia and Japan are considerably matured markets with well laid down quality and safety norms for development and production facilities.
Companies to Adopt Inorganic Route to Gain Market Share
The highly competitive market space has pushed leading players towards advanced technology adoption and strategic co-operations. In 2017, PharmAthene and Altimmune merged to set up larger Immuno therapeutic entity targeting infectious diseases. Biodefense treatment market comprises of key market players with significant global and regional footprints viz. SIGA Technologies, Inc.; Bavarian Nordic; Altimune, Inc. (PharmAthene, Inc.); Emergent BioSolutions Inc.; Cleveland Biolabs; Xoma Corporation; Dynavax Technologies Corporation; Elusys Therapeutics, Inc.; B.Ichor Medical Systems; Dynport Vaccine Company LLC; Achaogen, Inc; Nanotherapeutics, Inc.; Alnylam Pharmaceuticals, Inc. and other leading players.