Biodefense market to be characterized by innovative product developments by prominent industry stalwarts: global valuation to hit US$19 billion by 2024. The global biodefense market is experiencing a transformational shift in dynamics in the recent times owing to extensive technological advancements in biotechnology sector.
The global biodefense market is experiencing a transformational shift in dynamics in the recent times owing to extensive technological advancements in biotechnology sector. One of the prime instances of the same is the massive number research and development studies undertaken in biothreat detection devices, which are utilized to assess the threats against deliberate release of microbes and viruses.
Powered by the impact of technological advancements observed across the biotech industry, along with the rising demand for vaccines and biothreat identifying agents like reagents and assays, biodefense market is anticipated to traverse alongside a profitable growth path in the upcoming years.
Rising awareness among governments in developed countries, about the major impact of bioterrorism attacks on economy, has a major role to play in the expansion of biodefense market.
Various strategies are being implemented to safeguard the population against bioterrorism attacks. Initiatives like stocking vaccines as well as the development and production of bio-threat detection devices would also escalate the growth of biodefense market in the years to come.
For example, economies like India have higher susceptibility towards agricultural bioterrorism, on the grounds of which, the government is undertaking several initiatives for protecting the nation since a major portion of the population is dependent on agriculture as their main occupation.
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Notable companies across this vertical have seemingly been reinforcing their expertise by implementing several strategic initiatives like mergers and acquisitions to expand their regional presence. Securing FDA approvals for newly launched products has also contributed to enhancing the stance of these companies across the biodefense industry.
A gist of the contribution by some of the prominent companies in the biodefense market has been mentioned below:
The New York based pharmaceutical firm SIGA Technologies, Inc. has recently announced that the U.S.
Food and Drug Administration (FDA) has approved the use of TPOXX (tecovirimat) in the treatment of smallpox disease. Responsible for smallpox infection, the often-deadly and highly contagious variola virus is described as among most devastating disease in the world known to humanity by the World Health Organization and is mostly spread through direct contact among people.
The FDA approved TPOXX targets and inhibits the orthopoxvirus VP37 protein’s activity, along with blocking its interaction with cellular Rab9 GTPase and TIP47. Accomplishments like the aforementioned are estimated to further augment the trust factor and goodwill of the company, which in turn will help the firm enhance its position in the biodefense market.
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Biopharmaceutical company Emergent BioSolutions Inc. has recently developed a vaccine for anthrax which might elicit a faster immune response compared to the anthrax vaccines currently available.
The multinational specialty firm has submitted an application on December 28, 2018, to the U.S. FDA for the use of its anthrax vaccine NuThrax.
As a next generation anthrax vaccine, NuThrax has been developed for post-exposure prophylaxis of disease due to confirmed or suspected Bacillus anthracis exposure. The submission is predicted to undergo review in the first half of 2019.
The launch of such advanced vaccines is certain to advance the commercialization potential of the biodefense market in the years to come.
Biotech firm PathSensors has recently announced that it is providing a Los Angeles based robotic juice dispensers company, JuiceBot, with its biosensor technology. The proprietary cell-based biosensor technology, CANARY, delivers extremely quick detection of pathogens at unseen levels of specificity and sensitivity.
The technology has been tailored to sensitively and rapidly detect biological threats in agricultural, food and building security applications. Driven by the technology’s widespread application spectrum majorly inclusive of biodefense, PathSensors is on its way to establishing itself as one of the most proactive stakeholders of the biodefense market.
Analyzing the efforts undertaken by leading market players, it is evident that the biodefense market would register a significant growth rate in the upcoming years. The competitive spectrum of biodefense market is quite diverse, and comprises renowned companies such as BBI Detection, Alnylam Pharmaceuticals, Nanotherapeutics, Achaogen, Bavarian Nordic, Cleveland BioLabs, DynPort Vaccine Company, Ichor Medical Systems, Elusys Therapeutics, Dynavax Technologies, AISense and Altimmune.
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