Rabies Antiserum refers to the blood serum obtained from animals immunized against rabies virus, which contains rabies virus-neutralizing antibodies. It is used for post-exposure prophylaxis after exposure to rabid or potentially rabid animals. Rabies antiserum provides immediate passive immunity that supplements the active immunity developed by subsequent rabies vaccines. The global rabies antiserum market is witnessing high demand due to increasing pet adoption and rising animal bites. 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 pet adoption rates, especially in developing regions of Asia Pacific and Latin America is a major trend driving the rabies antiserum market. According to various studies, pet adoption witnessed significant growth during the COVID-19 pandemic as people adopted pets for companionship during lockdowns and working from home. As pet ownership rises, so does the risk of animal bites and need for post-exposure prophylaxis, propelling demand for rabies antiserum. Additionally, rising awareness about timely rabies vaccination and treatment after animal exposures is also contributing to market growth. However, availability of inexpensive generic versions may limit revenue growth of established brands in the coming years.
SWOT Analysis
Strength: Rabies antiserum is the only treatment approved by WHO for rabies prevention after a potential exposure. Its timely administration can save lives at risk of rabies infection.
Weakness: Availability and supply of rabies antiserum remain challenges especially in developing countries with highest burden of rabies. Production process requires live rabies virus making it complex.
Opportunity: Increasing government support and initiatives towards rabies control in endemic regions can boost demand. Growing bioproduction sector may improve manufacturing capacity and supply.
Threats: Emergence of alternative prevention options like monoclonal antibodies can divert market demand. Stringent regulations inhibit ease of production and marketing approvals.
Key Takeaways
The global Rabies antiserum market is expected to witness steady growth.
Regional analysis comprises countries in Asia Pacific and Africa hold over 95% share due to high endemicity of rabies. According to WHO, India alone accounts for an estimated 20,000 rabies deaths annually.
Key players operating in the Rabies antiserum market are CSL Behring, Sanofi, Yisheng Group, Roche, Bharat Serums and Vaccines Limited, Novartis AG and Zota. CSL Behring holds majority market share with its ERIG (Equine Rabies Immune Globulin) product. Sanofi provides vaccine as well as serum therapy through its Rabishield brand. However, production capacities remain constrained to meet global demand.
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1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it