Growing number of government funded R&D is expected to drive market growth during the forecast period.
San Francisco, California (PRWEB) January 27, 2015
The global biodefense market will reach USD 13.33 billion by 2020, according to a new study by Grand View Research, Inc. Growing R&D investments in the field of biotechnology coupled with the increasing threat of bioterrorism and disease outbreaks will drive market growth during the forecast period. Government initiatives like the "Emergency Use Authorization (EUA)" will boost market growth. This provision allows the marketing of products without any prior approval from the FDA during emergencies. Initiatives undertaken by the governments of developing nations for strengthening their respective biodefense product portfolio will fuel future market growth.
Browse complete research report on Global Biodefense Market at http://www.grandviewresearch.com/industry-analysis/biodefense-market
Biodefense against anthrax accounted for the largest market share, also causing its inclusion into the class A highest priority pathogen category. This classification has resulted in the presence of extensive R&D investments in new product development for strengthening national stockpiles. The global biodefense against anthrax was valued at over USD 2.0 billion in 2013.
Further key findings from the study suggest:
- North American was the most revenue generating regional market in 2013. Most of the funding programs are organized by the U.S. based government and private establishments. Moreover, these establishments cater to procurement needs of foreign markets.
- The market is majorly governed by the initiatives undertaken in the U.S. The country is the largest revenue contributor and will maintain its market position throughout the forecast period. Moreover, funding received by manufacturers under projects such as BioShield is expected to significantly boost demand over the next six years.
- Developed European countries such as Germany and the UK have designated funding policies in place pertaining to biodefense. In Switzerland, there is no set biodefense definition, but the NBC (nuclear, biological, chemical) protection and research are done in Spiez Laboratory of Federal office for Civil Protection, within the Federal Department of Defense. A total of 12 civilian facilities run under the Swiss biodefense program.
- Key players of this market include Emergent BioSolutions, SIGA Technologies, Xoma Corporation and PharmAthene.
- Mergers and acquisitions and participating in government tenders are two key sustainability strategies adopted by market players. For instance, in December, 2014, Emergent BioSolutions announced that it had acquired the EV-035 series of molecules from Evolva Holding SA. The acquisition will further strengthen the company’s biodefense line of products.
More insights about the Biodefense Market at http://www.grandviewresearch.com/industry-analysis/biodefense-market
For the purpose of this study, Grand View Research has segmented the global biodefense market based on product and region:
Global Biodefense Product Outlook (Revenue, USD Million, 2012 – 2020)
- Radiation/Nuclear defense
Biodefense Regional Outlook (Revenue, USD Million, 2012 – 2020)
- North America
About Grand View Research
Grand View Research, Inc. Is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies, ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
Corporate Sales Specialist, USA
Grand View Research, Inc
Toll Free: 1-888-202-9519
Web: Grand VIew Research