ccording to the latest market report published by Credence Research, Inc. “Human Rabies Treatment Market – Growth, Future Prospects and Competitive Analysis, 2017 – 2025” the global Human Rabies Treatment market was valued at US$ 2.71 Bn in 2016, and is expected to reach US$ 4.32 Bn by 2025, expanding at a CAGR of 5.3% from 2017 to 2025.
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Rabies is a fatal neurological disease, usually spread to humans through the bite of a rabid animal, and it is a persistent global problem. Some factors such as growing number of preventive vaccines and rising treatment awareness are prime factors that are driving the growth of human rabies treatment market globally. For the purpose of the study global human rabies treatment market is segmented on the basis of product type such as cell culture vaccines, rabies immunoglobulin, nerve tissue vaccines and other. It is estimated that, cell culture vaccines will grow significantly during forecast period due to its safety, higher immunogenicity, fewer adverse effects and negligible allergic reactions compared to other types of human rabies treatment. Based on treatment type, global human rabies treatment market is categorized as pre-exposure immunization and post-exposure prophylaxis and it is observed that, demand for post-exposure prophylaxis is increasing in developing countries because post-exposure prophylaxis is the only safe and effective treatment available in market to prevent exposed persons from acquiring rabies infection. According to World Health Organization (WHO), every year more than 15 million people worldwide receive a post-bite vaccination. Currently demand for the prophylaxis treatment is highest in North America due to developed healthcare infrastructure and high treatment awareness. It is estimated that, Asia-Pacific will show significant market growth during forecast period due to increasing treatment awareness, developing economic condition, populous countries and increasing government initiatives in prevention of rabies.
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Market Competition Assessment:
The Human Rabies Treatment market is observed to be highly competitive and comprises large number of players. However, the market is currently dominated by few players such as Bio Med Pvt. Ltd., Biological E, Cadila Healthcare, CSC Pharmaceuticals International, GlaxoSmithKline GmbH, Grifols S.A., Kamada Ltd., Kedrion S.p.A., Novartis International AG, Sanofi Pasteur SA, Serum institute of India and other.
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Key Market Movements:
- Factors such as increasing treatment awareness and rising government initiatives in prevention of rabies are prime factors that driving the growth of human rabies treatment market during forecast period.
- Poor patient compliance to medication and undeveloped healthcare infrastructure in some Asian and African countries where highest number of affected population is located are negatively impacting the market growth of human rabies treatment.
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