Global Rabies Vaccine Market - Segmented by Product Type, End User, Application, and Geography - Growth, Trends, and Forecast (2022 - 2030)

The global rabies vaccine market is expected to register a growth rate of CAGR of 5% during the forecast period, 2018 to 2023. Rabies is a virus which can spread by the bite or scratch of the animal and it can affects both domestic and wild animals. The symptoms of rabies include fever, often pain or unusual tingling sensation around the wound. According to the key facts published by World Health Organization (WHO) 59,000 people die of rabies each year and 95% of human rabies cases occur in Asia and Africa. Government is also taking initiatives towards rabies-free world, for instance United Against Rabies, a collaboration of four partners consisting of World Health Organization (WHO), Food and Agriculture Organization of the United Nations (FAO), World Organization for Animal Health (OIE) and Global Alliance for Rabies Control (GARC) developed a global strategic plan (Zero by 30) to achieve zero rabies human deaths.

Rise in Incidences of Animal Bite to Propel the Rabies Vaccine Market

The animal bites are the significant cause of the morbidity and mortality. According to the estimates of World Health Organization (WHO) in the US approximately 4.5 million people are bitten by dogs every year. The dog bite fatality rate is high in low and middle income countries as compared to high income countries However, 55 000 people die annually from rabies, and bites from rabid dogs account for the vast majority of these deaths. Thus, the rise in incidences of animal bite to propel growth of the market over the forecast period.
Other factors driving growth of this market are the low immunization rates in pets and growing number of stray animals in developing countries.

Rising Maintenance Costs for Storage of Vaccines to Restrain Growth of the Rabies Vaccine Market

The instability and rising maintenance cost of vaccines is the major restrain for the rabies vaccine market. The cold supply chain of vaccine consist of different levels called tiers, this tiers plays different functions in supply chain of vaccines. There are two main functions that are considered in the costing tool such as storage function and the distribution/transportation function. In this two functions the cost can be divided into labor, cold chain equipment, cold chain recurrent costs (energy and maintenance), vehicles, and storage space. The cost associated with storage and transportation of vaccine is huge. Thus, the rising maintenance cost of vaccine during storage and transportation expected to restrain growth of the market over the forecast period.
Other factor restraining growth of the market includes lack of knowledge about preventive measures amongst the population.

North America to Dominate Rabies Vaccine Market

North America dominates the global rabies vaccine market owing to the rising adoption of companion animals, increasing pet healthcare insurance, and improved veterinary healthcare infrastructure. According to the estimates of American Society for the Prevention of Cruelty to Animals (ASPCA) every year approximately 6.5 million companion animals enter in the US animal shelters nationwide. Thus, the rising population of animals is expected to drive growth of the market over the forecast period. In addition, government authorities such as WHO, One Health Commission and World Organization for Animal Health (OIE), amongst others are taking initiatives to make the world rabies free.

Key Developments in the Market

• Oct 2017 - Biopharma and Kamada Ltd., two leading human-derived protein therapeutics companies, announced that KEDRAB [Rabies Immune Globulin (Human)] has been launched in the US and initial shipments are now reaching healthcare practitioners across the country.

Major Players - CADILA PHARMACEUTICALS, CSC PHARMACEUTICALS INTERNATIONAL, CHANGCHUN BCHT BIOTECHNOLOGY CO. LTD., GSK GROUP OF COMPANIES, MERIAL (PART OF BOEHRINGER INGELHEIM), MERCK & CO., INC., SANOFI PASTEUR, INC., SERUM INSTITUTE OF INDIA PVT. LTD., and CRUCELL (JANSSEN GLOBAL SERVICES, LLC) among others.

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