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Rabies Antiserum Market is Estimated to Witness High Growth Owing to Increasing Rabies Incidences

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Omkar Patel
Rabies Antiserum Market is Estimated to Witness High Growth Owing to Increasing Rabies Incidences

Rabies antiserum refers to antiserum derived from the blood of immunized animals and humans containing antibodies against the rabies virus. This is administered to counteract various types of rabies infection in humans and prevent the onset of rabies disease if given promptly after exposure. Rabies is a deadly viral disease transmitted through infected animal bites and poses a serious threat to public health in developing nations.

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 Dynamics:

Increasing rabies incidences continue to be a key driver responsible for boosting sales of rabies antiserum globally. As per WHO data, rabies causes around 60,000 human deaths annually worldwide, with majority of cases reported from Asia and Africa. Developing countries in these regions lack proper awareness regarding risk of rabies from stray animal bites along with limited access to preventive vaccination and post-bite treatment. Moreover, rapid urbanization and growth of slums have further increased interactions between humans and potentially rabid animals, thereby fueling spread of the disease which is 100% fatal once symptoms appear. Rising healthcare spending along with availability of affordable generics in emerging nations is also augmenting adoption of rabies antiserum for effective disease management.

SWOT Analysis

Strength: Rabies is a fatal disease in humans requiring urgent medical attention. The antiserum market offers a lifesaving treatment option in three easy-to-administer doses. Having a preventive option encourages people to seek timely medical care following exposure to rabid animals.

Weakness: Antiserum supply depends on availability of immunized horses or other animals, limiting reliable, consistent production levels. High costs of antiserum put financial constraints on individuals and public health systems in poorer regions at highest risk.

Opportunity: Expanding immunization programs globally can help control rabies in animal vectors and reduce human exposures over time. Partnerships between antiserum providers and governments/aid organizations can improve access in underserved areas through pricing structures.

Threats: Alternative treatment options through modern biopharmaceutical technologies may supplant antiserum use in the long run. Delays seeking medical care due to lack of awareness remain a threat in many endemic regions.

Key Takeaways

The global rabies antiserum market is expected to witness steady growth. Regional analysis indicates Asia Pacific as both the fastest growing and largest regional market owing to the large populations in areas where rabies remains endemic among animal populations. North America and Europe have well-controlled rabies issues and generate comparatively lower antiserum demand.

Key players operating in the rabies antiserum market include 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., and Beijing Tiantan Biological Products Co. Ltd. CSL Behring and Sanofi Pasteur have the largest market shares due to their long history of antiserum production and global sales networks. Emerging players from Asia focus primarily on domestic and regional markets.

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Omkar Patel
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