Rabies Vaccine Market Analysis
Rabies Vaccine Market – Industry Insights, Trends, Outlook, and Opportunity Analysis – 2020- 2027
Rabies is a viral zoonotic disease caused through a dog’s bite which leads to progressive and fatal inflammation of the brain and spinal cord. There are two type of rabies; furious rabies and paralytic rabies. Symptoms accompanied with furious rabies are hyperactivity and hallucination. Paralytic rabies can cause coma and paralysis. Rabies seems fatal disease but it can be controlled through vaccines and medicines which have long been available to prevent death by rabies. According World Health Organization (WHO), globally rabies cause fatalities nearly 10,000 people yearly and almost 99% cases are due to dog bites. Symptoms caused by rabies are wound, fever with pain near the wound, tingling, pricking at wound site, and if not treated properly it can lead to cardiac or respiratory arrest. According to World Health Organization (WHO), in 2017, rabies caused 59,000 deaths annually in 150 countries with 95% cases in rural districts.
Global Rabies Vaccines Market- Drivers
Key players are focused on research and development strategies which are expected to drive the global rabies vaccine market growth during the forecast period. For instance, in 2017, CPL Laboratories (India), a joint venture biotechnology company established in 2009 by Novavax Inc., USA and Cadila Pharmaceuticals Limited, stated that Nano- particle vaccine of baculvirous-derived glycoprotein, a four dose regime vaccine is in phase-3 human trial, and is expected to be approved by 2021.
In U.S., rabies in early 1960 to 2000 was negligible, and witnessed a sudden rise resulting in 100 cases annually. Although the fatalities were rare, lack of awareness towards rabies is proving to be a risk. From 1960 to 2018, 127 cases of rabies were reported in U.S. from dog bites and bat bites. Whereas in Asia, rabies is a major burden, accounting for almost 35,000 deaths, fatalities caused by rabies in India are 55%. In Africa, an estimated 21,476 human deaths occur due to dog bite rabies, Africa spends less on the post exposure prophylaxis treatment of rabies and have highest mortality rate due to rabies. Central Asia and Middle East Asia have an estimated 1875 and 229 fatalities yearly. These factors are is expected to drive the global rabies vaccines market growth during the forecast period.
Global Rabies Vaccines Market-Impact of COVID-19 Analysis on the Global Rabies Vaccine Market
The impact of COVID-19 on the global rabies vaccine market has affected every market around the globe in a negative way. As the world still struggles to recover from the COVID-19 situation it will take a long time for every market to recover its losses. People have been reluctant to visit the physicians for vaccination due to social distancing. As per the situation, the impact of COVID-19 has strongly affected the future market opportunities, revenue growth graph, and the profit gains of the business for global rabies vaccine market.
Global Rabies Vaccines Market - Restraints
Emerging economies in Africa and Asia are expected to witness a major burden of rabies due to lack of awareness and costly treatment. Post exposure, prophylaxis is a dose regime for dog mediated rabies. According to World Health Organization (WHO), in 2017, the estimated cost of PEP was US $1.5 million, which can make it unaffordable in mid- or low-income countries and restrain the growth of the global rabies vaccines market during the forecast period.
Global Rabies Vaccine Market – Regional Analysis
Regional segmentation of the global rabies vaccine market includes North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America is projected to dominate the global rabies vaccines market with the largest share during the forecast period. The rising investments by governments in the public sector, as well as programs to eradicate rabies are favouring growth of the market in the region. For instance, countries in North America in 2008 established the North America Rabies Management Plan, by assessing and defining the needs, priorities to control rabies and eventually eliminate it from Canada, Mexico, and the U.S.
According to the European Centre for Disease Prevention and Control, in 2014 only 3 cases of rabies were reported in Europe, whereas Europe being the highest vaccine manufacturer for rabies. Key market players in Europe are GlaxoSmithKline, Sanofi–Pasteur and Novartis AG.
Furthermore, the market in Asia Pacific is expected to witness significant growth owing to active involvement by manufacturers in Asia Pacific countries such as China, Japan and India regarding development of innovative rabies vaccine and its substitutes. In February 2018, BioNote, Inc., a South Korean veterinary diagnostic company operating in rabies diagnostics, announced the launch of a new immune-fluorescent device, Vcheck, which can measure diagnostic result values with the help of fluorescent materials which help in detecting the zoonotic disease in animals.
The market in Asia Pacific is expected to witness new entrants and is a major competitive market due to the burden of rabies. According to data published by the World Health Organization (WHO) in 2017, India accounts for 59.9% of deaths due to rabies in Asia, and 35% of deaths globally. Major players operating in the region are Yisheng Biopharma, Serum Institute of India, Zuventus, and Bharat Biotech Ltd. Moreover companies such as Yisheng Laboratories and CPL Laboratories (India) have vaccine candidates in clinical trials.
Global Rabies Vaccine Market- Competitive Landscape
Key players operating in global rabies vaccine market are Sanofi S.A., Novartis International AG, Serum Institute of India Pvt. Ltd, Indian Immunologicals Limited, Bharat Biotech Ltd, Zuventus HealthCare Ltd., Cpl Biologicals Private Limited, Yisheng Biopharma Co., Ltd, GlaxoSmithKline plc, Bavarian Nordic A/S, and Chiron Behring Vaccines Private Limited.
Global Rabies Vaccine Market - Taxonomy
By Vaccine Type-
By Route of Administration-
By End User-