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DUBLIN--(BUSINESS WIRE)--Nov 21, 2022--
The "Biodefense Market, By Product Type, By Application, By End-Use, and By Region Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
The global biodefense market size is expected to reach USD 32.80 Billion in 2030 and register a revenue CAGR of 8.7% over the forecast period, according to latest report.
Companies Mentioned
The market growth is attributed to the increasing government initiatives to strengthen national biodefense mechanisms and the rising research and development activities for developing newer biodefense products.
The outbreak of the COVID-19 pandemic has led to a significant increase in the demand for biodefense products, such as vaccines, therapeutics, and diagnostics, as healthcare professionals seek to protect themselves and others from the disease. The pandemic has also highlighted the importance of investing in strong biodefense infrastructure, which is expected to drive market growth over the forecast period.
The North America region is expected to hold the largest share in the global biodefense market due to the presence of a large number of key players in the region and the increasing government initiatives to strengthen national biodefense mechanisms.
For instance, in May 2020, the U.S. Department of Health and Human Services announced an investment of USD 1.6 Billion in Operation Warp Speed, a public-private partnership aimed at accelerating the development, manufacturing, and distribution of COVID-19 vaccines, therapeutics, and diagnostics.
Biodefense comprises medical countermeasures (MCM) and other actions taken to protect people from the effects of biological warfare agents or bioterrorism. Biological warfare agents are microorganisms, such as bacteria, viruses, fungi, and toxins that can be used intentionally to cause death or disease in humans, animals, or plants. Bioterrorism is the intentional release of harmful microorganisms or toxins to cause death or disease in humans, animals, or plants.
Some Key Highlights from the Report
For this report, the author has segmented the global biodefense market based on product type, application, end-use, and region:
Product Type Outlook (Revenue, USD Billion; 2019-2030)
Application Outlook (Revenue, USD Billion; 2019-2030)
End-use Outlook (Revenue, USD Billion; 2019-2030)
Regional Outlook (Revenue, USD Billion; 2019-2030)
For more information about this report visit https://www.researchandmarkets.com/r/u9nuri
View source version on businesswire.com:https://www.businesswire.com/news/home/20221121005396/en/
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KEYWORD:
INDUSTRY KEYWORD: BIOTECHNOLOGY PHARMACEUTICAL HEALTH
SOURCE: Research and Markets
Copyright Business Wire 2022.
PUB: 11/21/2022 05:53 AM/DISC: 11/21/2022 05:53 AM
http://www.businesswire.com/news/home/20221121005396/en