Biodefense Market Size By Product (Vaccines {Anthrax, Smallpox, Botulism}, Biothreat Detection Devices {Samplers, Detectors/Triggering Devices, Identifiers, Assays and Reagents}), Industry Analysis Report, Regional Outlook, Growth Potential, Covid-19 Impa

Biodefense Market Size By Product (Vaccines {Anthrax, Smallpox, Botulism}, Biothreat Detection Devices {Samplers, Detectors/Triggering Devices, Identifiers, Assays and Reagents}), Industry Analysis Report, Regional Outlook, Growth Potential, Covid-19 Impact Analysis, Competitive Market Share & Forecast, 2022- 2028

The biodefense market is anticipated to grow substantially by 2028 on account of increasing government initiatives for promoting treatment strategies to develop effective vaccines to combat mutated vaccines as well as detection devices against biothreats. Biodefense refers to measures taken against bioterrorism, which involves the deliberate release of organisms and fatal viruses.

In recent years, governments across the globe have taken various initiatives to instill biodefense mechanisms against bioterrorism. Biothreats not only harm human health but also human resources, which impacts the economic growth of a country. Notably, the COVID-19 pandemic has prompted innovations in the development of vaccinations and biothreat detection devices.

To that effect, in October 2021, the World Health Organization (WHO) called for a change in diagnostics globally to fill the biodefense gap created between LICs (low-income countries) and developed nations, following the launch of the Test-to-Treat initiative by U.S. President Biden, which offers free treatment and testing kits to all American citizens who test positive. As a result, supportive government initiatives for formulating innovative biodefense solutions have been beneficial for biodefense industry growth.

Furthermore, key players in the sector have been investing in consistent improvement and technological advancements in biodefense mechanisms, thereby fostering biodefense market outlook. To cite an instance, in March 2022, Bavarian Nordic, a major biotechnology firm, inked a license & supply deal with Nuance Pharma, a China-based pharmaceutical company. The agreement was undertaken to facilitate the development as well as commercialization of MVA-BN RSV, Bavarian Nordic’s vaccine candidate that targets respiratory syncytial virus (RSV) in older adults.

In another instance, in October 2021, Smiths Detection Group Ltd., a leading enterprise in threat detection and security screening tech, announced that its air sampler BioFlash Biological Identifier device is capable of detecting SARS-CoV-2 variants. The air sampler was successfully utilized by the U.S. Army Medical Research Institute of Infectious Diseases (USAMRIID) as well as many universities to curb the spread of COVID-19.

The biodefense market has been segmented based on product and region. Based on product, the market has been further classified into biothreat detection devices and vaccines. The vaccines product segment was valued at more than USD 10 billion in 2021 and is projected to showcase strong growth through the review timeline. Increased emphasis of research activities on the development of new vaccine technologies, including vector technology, to induce rapid protection against pathogen attacks is slated to fuel segmental growth.

In the regional landscape, the Latin America biodefense market is estimated to depict a growth rate of about 8.9% CAGR over 2022-2028. Favorable government initiatives to strengthen biosecurity and growing investments in biodefense products across LATAM are foreseen to promote regional industry growth in the forthcoming years.