Biodefense Market to hit $17bn by 2024: Global Market Insights Inc. According to research report “Biodefense Market Size By Product (Anthrax, Small Pox, Botulism, Radiation/ Nuclear), Industry Analysis Report, Regional Outlook (U.S., Canada, U.K, Germany, China, Japan, Mexico, Brazil, South Africa), Application Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2024”, by Global Market Insights, Inc., Global Biodefense Market size contribution was $9.8 billion for 2015 with CAGR of 6.91% predicted to be registered for forecast timeline. Rising bioterrorism threat and government support against bioterrorism are main aspects that are predicted to promote industry expansion in future. Many government legislations like project bioshield offers nations with counter measures against chemical, radiological, nuclear and biological attack.
Project bioshield assures accessibility of next generation medical countermeasures against smallpox and anthrax agents. Main goal of the project is creating funding authority to build next generation counter measures, make innovative research & development programs and create a body like FDA (Food & Drug Administration) that can effectively use treatments in case of emergencies. All these factors are predicted to drive global biodefense industry trends.Furthermore, enhanced alertness displayed by public health organizations by investing in biodefense technology, skilled persons and materials along with heavy government support as well as funding from private & public sectors are predicted to contribute towards global biodefense market growth. Product Trends Global biodefense industry is segmented into products like botulism, anthrax, nuclear/radiation and small pox. Anthrax product segment contributed about 31.6% to global biodefense market share for 2015 and is projected to surpass revenue of $4.21 billion by end of forecast timeframe. The reason for segment growth can be credited to the fact that bacillus anthracis is identified as greatest priority in biodefense study and positioned among 9 agents in A class according to CDC (Centers for Disease Control and Prevention) classification.
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