TechNavio report predicts booming bio-security market

TechNavio released a report on Wednesday that predicts a surging demand for bio-security enhancements and expects the bio-detection market to grow by 14.19 percent between 2015 and 2019.

The report said the need for bio-security and detection already has increased, citing a rise in the proliferation of poisonous agents and the difficulty of detecting them with available methods. This allows unleashed agents in an attack to spread far and wide, causing sickness and death.

“The increased threat of contagious pathogens has led to an increase in the need for bio-security, thus accelerating the growth of the Global Bio-Detection Market,” TechNavio Vice President Faisal Ghaus said.

The report cites public opinion in support of increased defensive measures, stressing that viruses such as H1N1 influenza and Ebola have high growth and infection rates, making awareness campaigns promoting early detection increasingly popular.

“Many countries have undertaken initiatives to identify pathogens and increase the level of public safety, which has led to an increase in investments in bio-detection systems. This is expected to support the growth of the overall market during the forecast period,” Ghaus said.
Key aspects of the report included challenges and trends in the market. Major challenges came from inadequacies in current detection methods. The report included a list of key vendors.