According to a new report Global Biodefense Market, published by KBV research, The Global Biodefense Market size is expected to reach $17.5 billion by 2026, rising at a market growth of 5.8% CAGR during the forecast period.
The nuclear segment of the market is significantly driven by many factors such as, rising attention of the public agencies on alleviating the risks attached to the chemical, biological, radiological, and nuclear (CBRN) threats and increased investment for biodefense. The nuclear or radiation weapons are designed to cause destruction, due to the damaging effects of ionizing radiation and create damage like that created by explosive bombs.
CBRN and explosives refer to the weapons of mass destruction (WMD) that could create destruction of a massive scale. Several agencies equipped with defense and preparedness initiatives, are investing heavily in preventing these diseases, along with increasing health expenditure. Therefore, all such initiatives are providing growth opportunities for the companies involved in the biodefense industry, hence pushing the revenue graph of the market.
The North America market dominated the Global Biodefense Market by Region in 2019. In Asia Pacific, the biodefense market is anticipated to observe the highest CAGR during the forecast years due to increasing investments in R&D. Moreover, the increasing importance of biodefense and the growing threat of harmful biological materials that because emergencies are also boosting the biodefense market in the region.
Full Report: https://www.kbvresearch.com/biodefense-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Xoma Corporation, Altimmune, Inc., Emergent BioSolutions, Inc., Dynavax Technologies Corporation, SIGA Technologies, Inc., Elusys Therapeutics, Inc., Ichor Holdings, Ltd., Cleveland BioLabs, Inc., Bavarian Nordic A/S and Alnylam Pharmaceuticals, Inc.
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