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Rabies antiserum market mainly includes products used for the post exposure prophylaxis (PEP) of rabies in humans. Rabies is primarily transmitted through animal bites, mainly from dogs, cats, and other animals. According to the World Health Organization (WHO), rabies causes around 59,000 human deaths worldwide annually, with more than 95% of human rabies cases occurring in Asia and Africa through dog bites. The increasing incidence of animal bites, especially in developing nations is driving the demand for PEP including rabies immunoglobulin and rabies vaccines. For instance, WHO estimates that around 10 million people receive post-exposure vaccination after animal bites globally each year.
The global rabies antiserum market is estimated to be valued at US$ 1.24 billion in 2023 and is expected to exhibit a CAGR of 3.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
Increasing cases of animal bites is expected to drive the rabies antiserum market over the forecast period. As mentioned earlier, majority of rabies cases occur due to animal bites, especially dog bites. According to WHO, about 59,000 people die of rabies every year, mostly from dog bites. Additionally, 10 million people receive post-exposure prophylaxis after animal bites worldwide annually. Thus, rising incidence of animal bites, especially in developing regions where rabies vaccination programs are still inadequate will boost the demand for rabies PEP including antiserum and vaccines.
The other driver referred in the heading is rising cases of animal bites worldwide. As explained above, increasing cases of animal bites especially due to dogs is a major factor propelling the rabies antiserum market growth. Developing nations lack proper rabies control programs in animals, making people more prone to animal bites and subsequent demand for PEP.
Segment Analysis
The global rabies antiserum market is dominated by the equine antiserum segment. Equine antiserum captured over 60% market share in 2022 due to its low cost and widespread availability across developing nations with high rabies burden. Despite equine serum carrying a higher risk of side effects like serum sickness, its affordability drives its dominance, especially in Asia Pacific and Africa regions. The human diploid cell vaccine (HDCV) segment is projected to witness fastest gains at 4.5% CAGR during the forecast period. Strong efficacy and good tolerance of HDCV will support segment expansion in developed markets like North America and Western Europe.
PEST Analysis
Political: Rabies remains a neglected disease in developing countries. However, promotion of dog vaccination programs by WHO and funding for antiserum production in high burden nations can positively influence the market.
Economic: Though rabies imposes a huge economic burden annually, developing countries allocate low healthcare budgets for post-exposure prophylaxis. However, rising incomes may boost segment in Asia Pacific region.
Social: Lack of awareness about rabies transmission and management continues to impact market growth. But initiatives to educate public and mandatory pet vaccination can drive demand.
Technological: Advanced cell culture technologies facilitate development of more effective and affordable biologicals. Ongoing R&D into newer monoclonal antibodies and viral vectors also promises to revolutionize rabies management.
Key Takeaways
The global rabies antiserum market is expected to witness high growth. Regional analysis related content comprises Regional analysis related content: The Asia Pacific region dominates the global market and is expected to maintain its lead position during the forecast period. Countries like India, China, Indonesia and Philippines account for over 75% of global rabies deaths making APAC a high growth region.
Key players operating in the rabies antiserum market are CSL Behring, Sanofi Pasteur, Grifols S.A., Bharat Serum and Vaccines Ltd., Novartis AG, Kedrion Biopharma Inc., Biogenesis Bago SA, Serum Institute of India Ltd., Haffkine Bio-Pharmaceutical Corporation Ltd., Shanghai Institute of Biological Products Co. Ltd., CNBG (China National Biotec Group) Co. Ltd., Harbin Pharmaceutical Group Co. Ltd., Beijing Tiantan Biological Products Co. Ltd. Sanofi, CSL Behring and Grifols are the leading players in the global market due to their diverse product portfolios and strong geographical presence across North America, Europe and Asia Pacific. However, local Asian manufacturers such as Bharat Serum and VACSERA capture significant shares in their home markets through affordable pricing.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. With an MBA in E-commerce, she has an expertise in SEO-optimized content that resonates with industry professionals.
