Biodefense Market Surge Valuation Of USD 18.0 Billion By 2025: Grand View Research, Inc.
The global biodefense market was valued at USD 9.68 billion in 2015 and is expected to reach a value of USD 18.0 billion by 2025, according to a new report by Grand View Research, Inc. The market is majorly governed by the initiatives undertaken in the U.S. This country is the largest revenue contributor and is anticipated to maintain its leading position throughout the forecast period. Moreover, the funding received by manufacturers through government-led biodefense projects, such as the BioShield initiative, is expected to significantly contribute to vaccine development during the forecast period. The growing initiatives undertaken by the private players, such as PharmAthene, Inc.; Emergent BioSolutions, Inc.; and Ichor Medical Systems, are anticipated to support market expansion. The technological advancements in the detection systems, such as environmental detection (to treat biological target in the environment) and CHIP-based detection, is further supporting the...