Biodefense Market Size, Share, Growth Analysis, By Type(Anthrax, Smallpox, Botulism, Radiation/Nuclear), By Application(Hospitals and clinics, Ambulatory Care Centers, Others), By Region - Industry Forecast 2024-2031

Biodefense Market size was valued at USD 15.22 billion in 2022 and is poised to grow from USD 15.99 billion in 2023 to USD 23.67 billion by 2031, growing at a CAGR of 5.03% during the forecast period (2024-2031).

The biodefense market growth is driven by the presence of government initiatives, increasing private investment, the increased government spending and focus on biodefense strategies, and cases of the flu, Zika virus, and Ebola virus. Technological advances that have been experienced in genetic engineering and biotechnology within the last two decades make it feasible to modify these naturally occurring, lethal viruses that can readily be redrafted to cause devastation. Moreover, as these organisms are widely present in various parts of the world, biodefense is an integral component for countries across the globe. Some of the prior biological agents that were used as carriers for bioterrorism were anthrax, botulism, and chemical and nuclear agents. This incurred immense monetary loss. As a result of these activities, governments across the globe have enacted biodefense statutes, treaties, and policies aimed at combating biological threats, minimizing risks and preparing for, responding to, and recovering from a manifestation of bioterrorism. In fact, while conducting continuous research to diagnose, treat, and prevent infectious diseases, intentional or naturally occurring, the National Institute of Infectious Disease was able to contribute to the formation of medical products and strategies to fight bioterrorism as well as emerging and re-emerging infectious diseases since the 2001 mail-borne anthrax bioterrorism act.

US Biodefense Market is poised to grow at a sustainable CAGR for the next forecast year.