Therabies treatment market is projected to reach USD 3141.5 Million by 2030 at 5.20% CAGR during the forecast period 2022-2030.
Rabies is a deadly virus that usually spreads from the saliva of infected/rabid animals. Animals that are most likely to transmit rabies include bats, raccoons, coyotes, foxes, and skunks. In developing countries, stray dogs are the most likely to get infected with rabies. It is stated by the WHO that rabies infection is responsible for tens of thousands of deaths every year, especially, in Asia and Africa. Signs and symptoms of rabies include headache, nausea, vomiting, confusion, hyperactivity, difficulty in swallowing, agitation, anxiety, hallucinations, insomnia, partial paralysis, hydrophobia (fear of water), and excessive salivation. Rabies virus basically infects the central nervous system and salivary glands which ultimately leads to death. Treatment by vaccination is the best and most effective method in treating as well as preventing rabies. One of the approved and effective methods against rabies is when inactivated rabies vaccine is combined with rabies immunoglobulin. Rabies is diagnosed by detecting proteins present on the surface of rabies virus using samples of blood, saliva samples, and skin. To get rid of this deadly disease, various government, and privately held organizations actively participate to make people aware of the current scenario. For instance, the Food and Agriculture Organization (FAO), Global Alliance for Rabies Control (GARC), WHO, and International Organisation for Animal Health (OIE) teamed up together in 2015 to achieve strategic plan of "Zero human Rabies deaths by 2030". The main aim of this initiative is to prioritize healthcare investments in rabies control and coordinate the rabies-elimination efforts.
Notably, increasing population of stray dogs, monkeys and other rabid animals is the key factor driving the rabies treatment market. According to the WHO, Dogs are the main source of rabies infection and subsequent deaths, contributing to nearly 99% of all rabies transmissions to humans.
Various other factors such as, production of contamination-free vaccines using novel culture media, regulatory examinations, and conduction of awareness program by government continuously motivate marketers to come up with new drugs, and vaccines to treat rabies. Sanofi and Novartis are the key players in the rabies treatment market. Both the companies manufacture prophylactic vaccines. Sanofi develops, and markets Imovax Rabies vaccine whereas Novartis manufactures RabAvert vaccine.
Despite these drivers, high cost of rabies treatment, and poor healthcare expenditure in developing countries may hamper the growth of the market to a great extent. Despite the great economic development in the Asia Pacific region, some part of the region are facing inadequate health expenditure due to unequal distribution of resources.
Market Synopsis of Rabies Treatment Market by Region, 2016 (%):
The rabies treatment market is segmented on the basis of type of rabies, type of treatment, and end users.
On the basis of type of rabies, rabies treatment market is segmented into furious rabies, paralytic rabies and others
On the basis of type of treatment, rabies treatment market is classified into rabies immunoglobin vaccine, bran tissue vaccine, tissue culture and others.
On the basis of end-users, rabies treatment market is segmented into hospitals, clinics, epidemic prevention centres and others.
Sources: Annual reports, Press release, White paper, and Company presentation
On the regional basis, the rabies treatment market is segmented into America, Europe, Asia Pacific and the Middle East & Africa.
The Americas dominate the rabies treatment market owing to the remarkable use of the vaccine for preventing diseases and favorable conditions for research and development. In America, rabies vaccination programs have eliminated domestic dogs as reservoirs of rabies virus. According to the data suggested by Centers for Disease Control and Prevention, an estimated health costs associated with rabies disease detection, and control have risen, exceeding $300 million annually
Europe is the second largest market for rabies treatment market followed by Asia Pacific. Owing to the availability of funds for research and development activities and growing emphasis on research for treating diseases. Asia Pacific shows the fastest growth in this market due to an increase in prevalence of communicable diseases. Particularly, India and China are expected to be an emerging and the fastest growing market.
The Middle East & Africa has the lowest market for rabies treatment due to lack of technical knowledge and poor medical facilities.
Some of key the players in the rabies treatment market are Sanofi (France), Merck & Co. Inc. , CSC Pharmaceuticals International , Pfizer (U.S.), VBI Vaccines Inc. (U.S.), Taj Pharmaceuticals Limited (India), Bio Med Pvt. Ltd., Bavarian Nordic(U.S.), Solvay(U.S.), Informa plc.(U.S.) and others.
|Market Size||2030: USD 3141.5 Million|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Rabies, Type of Treatment, and End users|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Sanofi (France), Merck & Co. Inc. , CSC Pharmaceuticals International , Pfizer (U.S.), VBI Vaccines Inc. (U.S.), Taj Pharmaceuticals Limited (India), Bio Med Pvt. Ltd., Bavarian Nordic(U.S.), Solvay(U.S.), Informa plc.(U.S.) and others|
|Key Market Opportunities||New product launches and R&D Amongst major key Players|
|Key Market Drivers||