The global biodefense market is projected to grow significantly, reaching approximately US$ 8,350.74 million by 2027, up from US$ 4,108.24 million in 2019. This growth represents a compound annual growth rate (CAGR) of 9.4% from 2020 to 2027.
This market expansion can be attributed to several key factors, including supportive government policies, a rise in the frequency of natural outbreaks, and the escalating risks associated with biological weapons and nuclear-capable intercontinental ballistic missiles (ICBMs). Nevertheless, limited research and development funding from governments in developing and underdeveloped nations may hinder market growth during the forecast period.
Infectious disease outbreaks typically arise from infections that spread through various means, including person-to-person contact, animal-to-human transmission, or environmental sources. Emerging infectious diseases are those that have recently surfaced within a population and are either rapidly spreading or pose a potential threat of future outbreaks. The World Health Organization (WHO) highlighted in its 2007 report that the emergence of infectious diseases is occurring at an unprecedented rate. Since the 1970s, around 40 new infectious diseases have been identified, including SARS, MERS, Ebola, chikungunya, avian flu, swine flu, Zika, and most recently, the coronavirus. Furthermore, the Centers for Disease Control and Prevention (CDC) estimated that nearly 30 million individuals in the U.S. were affected by influenza between 2016 and 2017. Biodefense strategies, such as influenza vaccinations, have been shown to reduce illness rates by 17% and decrease medical visits and hospitalizations by 18 to 19%. The increasing incidence of infections like Ebola and Zika is also expected to drive market growth. For example, by November 2015, Guinea had reported over 28,000 cases of Ebola virus, resulting in more than 3,800 fatalities. Additionally, the coronavirus outbreak has led to over 210,000 reported cases to the WHO, with more than 9,000 deaths as of March 20, 2020. On March 18, 2020, Emergent BioSolutions entered into a development and manufacturing agreement with Vaxart for their experimental oral vaccine candidate targeting the coronavirus disease. The rising prevalence of infectious diseases, including coronavirus, Ebola, and Zika, is likely to stimulate increased investment in biodefense, thereby propelling market growth.
The global biodefense market is categorized by product type and geographical region. In terms of product segmentation, the market includes anthrax, smallpox, botulism, radiation/nuclear threats, and other categories. In 2019, the anthrax segment held the largest share of the global biodefense market. This segment is anticipated to maintain its leading position throughout the forecast period, primarily due to increased funding from various governments aimed at developing and stockpiling sufficient vaccines against anthrax. This funding is facilitated through several initiatives, including the BioShield Act, the Biomedical Advanced Research and Development Authority (BARDA), and the Joint Program Executive Office for Chemical & Biological Defense.
The report incorporates a range of essential primary and secondary sources, including the Food and Drug Administration, the World Health Organization (WHO), the Organisation for Economic Co-operation and Development, the Socio-Economic Contribution of the European Cosmetics Industry (SECECI), the Emirates Standardization and Meteorological Authority (ESMA), among others.