Rabies antiserum is a type of immunoglobulin therapy used for post exposure prophylaxis of rabies. It provides immediate passive immunity by transferring rabies neutralizing antibodies until the body can develop its own immune response against rabies infection.
The global Rabies Antiserum Market is estimated to be valued at US$ 1.24 Bn 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 key trends:
Increasing awareness regarding rabies prevention has been a key factor driving the growth of the rabies antiserum market. Various initiatives undertaken by governments and non-profit organizations to educate people regarding rabies symptoms and importance of timely post-exposure prophylaxis have significantly boosted the demand for rabies antiserum. According to the World Health Organization (WHO), over 59,000 people die each year due to rabies and majority of the victims are Asians and Africans bitten by stray dogs. However, timely rabies vaccination and immunoglobulin therapy can prevent over 99% of the deaths. Ongoing awareness campaigns are encouraging more people to seek medical attention after potential rabies exposure, thereby fueling the adoption of rabies antiserum.
SWOT Analysis
Strength: Rabies antiserum has strong demand due to the ongoing threat of rabies infection. Effective treatment for rabies exposure.
Weakness: High production and transportation costs. Storage requires cold chain infrastructure.
Opportunity: Growing pet ownership and potential for increase in rabies exposures. Expanding production capacity and regional availability.
Threats: Threat from alternative post-exposure prophylaxis. Stringent regulations for biological production.
Key Takeaways
The global rabies antiserum market is expected to witness steady growth. Regional analysis comprises Asia Pacific dominates the market currently due to high rabies burden countries. The region is expected to continue its dominance over the forecast period supported by initiatives to expand availability.
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 Pasteur leads the global market with largest production facilities. Other prominent players are focused on capacity expansion plans and regional availability to strengthen market share.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
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