Rabies Prophylaxis Market Analysis and Size
Rabies is a viral zoonotic disease spread by a dog bite that causes gradual and deadly brain and spinal cord inflammation. Furious rabies and paralytic rabies are the two kinds of rabies. Hyperactivity and hallucination are two symptoms that come with furious rabies. After the onset of particular symptoms such as hydrophobia (fear of water) or aerophobia (fear of flying), rabies is diagnosed in both animals and humans (difficulty in respiration). These late-stage symptoms can be lethal; hence an HRV should be given very away after being bitten by a rabid animal, even if no symptoms are present.
Data Bridge Market Research analyses that the rabies prophylaxis market was valued at USD 910.95 million in 2021 and is expected to reach USD 1226.01 million by 2029, registering a CAGR of 4.20% during the forecast period of 2022 to 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
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Rabies Prophylaxis Market Dynamics
Drivers
· Increasing investment for healthcare infrastructure
Another significant factor influencing the growth rate of rabies prophylaxis market is the rising healthcare expenditure which helps in improving its infrastructure. Also, various government organizations aim to improve the healthcare infrastructure by increasing funding and this will further influence the market dynamics.
· Rising incidences of rabies
The rising incidences of rabies are expected to flourish the market’s growth rate by increasing the risk of rabies prophylaxis. According to the World Health Organization (WHO), globally, rabies affects approximately 10,000 people per year, according to the World Health Organization (WHO), with dog bites accounting for nearly 99 percent of cases. Rabies symptoms include wounds, fever with pain near the wound, tingling, and pricking at the wound site, and it can lead to cardiac or respiratory collapse if not treated effectively. Rabies claimed the lives of 59,000 people in 150 countries in 2017, with 95 percent of cases occurring in rural areas, according to the World Health Organization (WHO).
Furthermore, rising initiatives by public and private organizations to spread awareness will expand the rabies prophylaxis market. Additionally, increases in number of communities of pet friendly will result in the expansion of rabies prophylaxis market. The rising level of disposable income and increase in demand of vaccine are the major factors anticipated to flourish the market's growth rate during the forecast period of 2022-2029.
Opportunities
· Increase in the number of research and development activities
Moreover, the market's growth is fueled by an increase in the number of research and development activities. This will provide beneficial opportunities for the rabies prophylaxis market growth. For instance, CPL Laboratories (India), a joint venture biotechnology company founded in 2009 by Novavax Inc., USA, and Cadila Pharmaceuticals Limited, announced in 2017 that its Nano- particle vaccine of baculvirous-derived glycoprotein, a four-dose regimen vaccine, is in phase-3 human trials and expected to be approved by 2021. Along with this, rising advancements in pharmaceuticals and biotechnological sectors will further propel the market's growth rate.
Patient Epidemiology Analysis
Rabies prophylaxis market also provides you with detailed market analysis for patient analysis, prognosis and cures. Prevalence, incidence, mortality, adherence rates are some of the data variables that are available in the report. Direct or indirect impact analyses of epidemiology to market growth are analysed to create a more robust and cohort multivariate statistical model for forecasting the market in the growth period.
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Global Rabies Prophylaxis Market Scope
The rabies prophylaxis market is segmented on the basis of type, treatment, route of administration, end-users and distribution channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
· Furious Rabies
· Paralytic Rabies
· Others
Treatment
· Rabies Immunoglobulin
· Vaccines
· Others
Route of Administration
· Oral
· Parenteral
· Others
End-Users
· Hospitals
· Specialty Clinics
· Homecare
· Others
Distribution Channel
· Hospital Pharmacy
· Retail Pharmacy
· Online Pharmacy
· Others
Some of the major players operating in the rabies prophylaxis market are:
· F. Hoffmann-La Roche Ltd. (Switzerland)
· Mylan N.V. (U.S.)
· Teva Pharmaceutical Industries Ltd. (Ireland)
· Sanofi (France)
· Pfizer Inc. (U.S.)
· GlaxoSmithKline plc (U.K.)
· Novartis AG (Switzerland)
· Merck & Co., Inc. (U.S.)
· AstraZeneca (U.K.)
· Johnson & Johnson Private Limited (U.S.)
· Bristol-Myers Squibb Company (U.S.)
· Bayer AG (Germany)
· Dr. Reddy's Laboratories Ltd. (India)
· Eli Lilly and Company (U.S.)
· Serum Institute of India Pvt. Ltd. (India)
· Elanco (U.S.)
· Virbac (France)
· Zoetis (U.S.)
· Cadila Pharmaceuticals (India)
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