Rabies Antiserum Market Overview: Global Landscape Assessment

 

Rabies antiserum is used for post exposure prophylaxis to prevent rabies in humans. It contains rabies virus-neutralizing antibodies that provide immediate, short-term protection against the rabies virus infection until the immune system produces its own antibodies. The rising incidence of rabies cases, especially in emerging nations of Asia and Africa is expected to drive the demand for rabies antiserum over the forecast period. 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 cases of rabies globally have accelerated the growth of the rabies antiserum market. According to the World Health Organization (WHO), rabies causes approximately 59,000 human deaths annually, with majority of cases from Asia and Africa. Due to increased animal bites and close human-animal interaction, rabies cases are rising in emerging nations that lack proper surveillance and vaccination systems for domestic animals. This has resulted in increased demand for rabies antiserum for post-exposure prophylaxis in endemic regions. Key players are focusing on improving accessibility of rabies antiserum in these areas through collaborations and affordable pricing, which is further driving the market growth.

Segment Analysis
The global rabies antiserum market is segmented by type into canine, equine, and others. The canine segment dominates the market and accounts for approximately 70% share due to high prevalence of rabies in dogs. Rabies is more common in dogs than other animals and majority of human rabies cases are also transmitted by dog bites. Hence, canine rabies antiserum witnesses higher demand.

Key Takeaways
The global rabies antiserum market is expected to witness high growth over the forecast period of 2023 to 2030. The market size is projected to reach US$ 1.62 Bn by 2030, registering a CAGR of 3.3% during the forecast period.

Regional analysis: North America dominates the global rabies antiserum market due to presence of major market players and high R&D efforts for development of advanced rabies biologics. The US accounts for the largest share in the North America region. However, Asia Pacific is expected to witness fastest growth on back of increasing pet adoption, growing awareness about animal bite prevention, and rising government focus on reducing human rabies cases.

The key players operating in the rabies antiserum market are CSL Behring, Sanofi, Kamada, Sichuan Yuanda Shuyang Pharmaceutical Co., Ltd, Shanghai RAAS Blood Products Co., Ltd. CSL Behring has the largest share due to wide geographical presence and innovative product portfolio. Sanofi focuses on new product development through extensive R&D activities. Kamada expanded its production capacity to cater to growing demand in emerging markets of Asia Pacific.