Biosurveillance Market Size To Reach USD 5.62 Billion By 2027 | Reports And Data
Reports And Data
The growing demand for biosurveillance in medical settings for managing outbreaks like the COVID-19.
NEW YORK, NY, UNITED STATES, January 17, 2022 /EINPresswire.com/ -- The Global Biosurveillance Market size is forecast to reach USD 5.62 Billion USD 3.80 Billion in 2019, to deliver a CAGR of 5% through 2027. The market growth is driven by the outbreak of deadly viruses and infections like the H1N1 Influenza outbreak, anthrax attacks, and SARS outbreak, creating an imminent need for preparedness in cases of bioterrorism.
Biosurveillance is an active data-gathering with appropriate analysis as well as interpretation of biosphere data related to disease activity and threats to animal or human health. These threats could be infectious, metabolic, toxic, of natural origin, or otherwise. Biosurveillance is integral to the process of achieving early warning of such health threats, early detection and management of health events, and awareness of disease activity. It enables early detection of disease outbreaks and provides the public and decision-makers with accurate and timely information to prevent, manage, or mitigate disease outbreaks. The rising incidence of chronic infections and disease outbreaks will foster the biosurveillance market share.
In the COVID-19 situation, biosurveillance has aided several regional governments to ascertain individuals who may have the virus remain isolated from the rest to contain the disease spread. The benefits offered by the technology to monitor the entire population in cases of pandemics will bolster the global biosurveillance market growth over the forecast period.
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Market Overview:
The pharmaceutical and healthcare sector is rapidly expanding in terms of revenue in the recent years and is expected to register robust CAGR over the forecast period of 2028. Factors such as rapid advancements in the pharma and healthcare sector, adoption of latest technologies, tools and equipment, emergence of various new diseases and improvements in healthcare facilities and infrastructure. In addition, rising healthcare expenditure, increasing per capita income in the developing countries and favorable reimbursement policies are fueling market growth. Increasing funds by various public and private sectors and increasing investments to develop enhanced products and devices are also boosting market growth. Moreover, increasing preference for ambulatory services and point of care services, and increasing funds for research centers and hospitals for drug discovery is expected to fuel market growth going ahead.
Competitive Landscape:
The report provides details about competitive landscape of global Biosurveillance market focusing on every market player, its global position, revenue generation product portfolio, company overview, financial planning and business expansion plans. The global Biosurveillance market is quite competitive and comprises various key players at global and regional levels. Key players are investing in research and development activities, and strategizing various plans such as mergers and acquisitions, partnerships, joint ventures, new product launches, to enhance their product base and strengthen their market position.
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Further key findings from the report suggest
• Based on type, the syndromic surveillance segment accounted for 40% of the biosurveillance market share in 2019 and is estimated to generate major revenue growth through 2027 due to its wide application in the public health sector. The syndromic surveillance turns quite effective for health departments to identify the disease incidence rate prior to any formal diagnosis. This has also aided in responding to the outbreaks like COVID-19 in an effective manner across several countries.
• In terms of technology & equipment, the detection technology & equipment segment accounted for nearly 45% of the biosurveillance market share in 2019 and is set to witness substantial growth over the forecast period on account of increasing emphasis on surveillance for the early detection of health events and detection of a disease outbreak. Some of the significant and widely used detection technology & equipment are Autonomous Pathogen Detection System, the Joint Biological Agent Identification and Diagnostic System (JBAIDS), Biological Materials, CANARY, and MASINTCell, among others.
• On the basis of application, the human and animal populations segment accounted for 40 % of the biosurveillance market share in 2019 and is likely to witness major growth through 2027 due to the fact that biological attacks like anthrax or major disease outbreak like COVID-19 or attacks have a direct impact on the human population, which makes surveillance on human and animal population to control such outbreaks.
• The medical intelligence segment is estimated to contribute significantly to the biosurveillance market revenue share and is set to exhibit a growth rate of 6 % during the forecast period.
• In the regional landscape, North America dominated the landscape with 35 % of the market share in 2019 and is estimated to witness major growth through 2027 due to technological advancements and a huge amount of funding allocated to biosurveillance & biodefense in the region. As of 15th October 2020, there were 8,150,383 COVID-19 cases in the U.S., which has further created lucrative opportunities for regional industry growth.
• Key participants in the global biosurveillance market include Bitscopic, NanoViricides, Inc., Hawkeye Systems, Inc., Co-Diagnostics, Inc., Novavax, Inc., Gilead Sciences, Dynport Vaccine Company LLC, Bavarian Nordic, Cleveland Biolabs, and B.Ichor Medical Systems, among others
• In 2020, the Chinese government joined hands with tech giants Alibaba and Tencent for developing a color-coded health rating system for tracking millions of people daily to contain the COVID-19 spread.
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For the purpose of this report, Reports and Data has segmented the biosurveillance market on the basis of Type, Technology & equipment, End-user, Application, End-use, and region:
Type Outlook (Revenue, USD Billion; 2017-2027)
• Syndromic Surveillance
• Alternative Surveillance Systems
• Laboratory Surveillance
• Environmental Surveillance
Technology & equipment Outlook (Revenue, USD Billion; 2017-2027)
• Biocontainment technology & equipment
• Detection technology & equipment
• Protection technology & equipment
Application Outlook (Revenue, USD Billion; 2017-2027)
• Human and animal populations
• Water
• Food
• Agriculture
• Environment
End-use Outlook (Revenue, USD Billion; 2017-2027)
• Biosurveillance
• Threat reduction
• Biosecurity
• Disaster response
• Medical intelligence
End-user Outlook (Revenue, USD Billion; 2017-2027)
• Government administrative bodies
• Research organizations
• Healthcare organization and laboratory
• Government contractors
• Academic centers and think tanks
Regional Outlook:
• North America (U.S., Canada, Mexico)
• Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
• Asia Pacific (China, India, Japan, South Korea, Rest of APAC)
• Latin America (Brazil, Rest of LATAM)
• Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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