Biodefense Market: The Rising Threat Of Potential Biological Warfare And Increasing Government Funding Are The Key Drivers Of This Market
The large presence of government and private funding coupled with product acquisitions is one of the factors accounting for its market position. Many government legislations such as project BioShield offers countermeasures against anthrax and smallpox agents and also against chemical, nuclear, and radiological agents. The growing number of projects to create various funding authority to make research & development programs and build next generation counter measures. Based on the reports published by the federal funding for Health Security in 2016, it was stated that the U.S. government mainly spends its funding in five critical domains, namely biodefense programs, pandemic influenza and emerging infectious disease programs, chemical programs, radiological and nuclear programs, and multiple hazard and preparedness programs. The proposed budget allocated for civilian biodefense in 2016 is USD 1.37 billion.
Federal Health Security Funding, by program (USD Million)
The presence of special provisions such as the Emergency Use Authorization (EUA) is expected to drive market growth during the forecast period. The categories of products which may be included for the consideration of a EUA include biological products (e.g., blood products, vaccines, biological therapeutics) and medical devices (e.g., in vitro diagnostic tools). Products and uses which may be issued EUA include those which “may be effective” to diagnose, prevent, treat or even mitigate the life threatening conditions or diseases caused by the declared and described chemical, radiological, biological or nuclear agent(s).
The global biodefense market size was valued at USD 9.68 Billion in 2015. The market is expected to witness growth owing to the technological advancement in the pathogen detection and forensic division. Anthrax was the largest application segment and accounted for a share of over 31.3% in 2015. The growing pipeline ahead for anthrax prevention and the vaccines associated with it has a significant share in biodefense industry.
Some of the key players of the market include Emergent Biosolutions, PharmaAthene, Bavarian-Nordic, SIGA Technologies, Xoma Corporation, Elusys Therapeutics, Dynavax Technologies Inc., Ichor Medical Systems, Dynport Vaccine Company LLC (DVC), Cleveland BioLabs, Bavarian Nordic, Nanotherapeutics, Alnylam Pharmaceuticals, and Achaogeney. Presence of a strong portfolio of products currently in pipelines is one of the pivotal attributes for the market growth in the coming years.
In-depth report on global biodefense market by Grand View Research:
https://www.grandviewresearch.com/industry-analysis/biodefense-market