The rabies antiserum market is anticipated to grow at a significant CAGR of 5.9% during the forecast period (2022-2028). Rabies antiserum contains the globulin derived by purification of hyper-immune serum/plasma from healthy equines, as well as phenol as a preservative, and has a specific action in neutralizing the rabies virus. The major factor driving the growth of the market is the rising prevalence of rabies globally. According to World Health Organization (WHO), each year, more than 55,000 individuals, largely in Asia and Africa, die as a result of a lack of understanding about the need of seeking medical help after being bitten by a dog. Rabies is highly prevalent in India, accounting for 36% of all rabies deaths globally. The true burden of rabies in India is unknown, but according to existing data, it kills between 18,000-20,000 people every year. Minors under the age of 15 account for 30-60% of recorded rabies cases and deaths in India since bites in children frequently go unnoticed and unreported.
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The global rabies antiserum market is segmented based on type. Based on type, the market is sub-segmented into 1500IU, 1000IU, and 400IU. Among these segments, the 1500IU segment is expected to propel the growth of the market due to its higher efficiency in neutralizing the rabies virus. When the 1500IU is not available, then other types can also be used to neutralize the rabies virus.
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The market players are also contributing significantly to the market’s growth by adopting various strategies, including mergers and acquisitions, geographical expansion, partnerships, collaborations, and new product launches, to stay competitive in the market. For instance, in April 2020, Grifols announced the launch of a new 3-mL (900-IU) vial for HyperRAB (Rabies Antiserum[human]), a treatment for rabies postexposure prophylaxis. The addition of a 3-mL (900-IU) option will now give healthcare providers greater convenience by potentially reducing the number of vials used during administration – cutting down on product and packaging waste in the process. The new vial size will also provide storage efficiencies for hospital pharmacies by decreasing the number of smaller vials they currently have to keep in stock. HyperRAB 3-mL (900-IU) was approved by the USFDA in November 2019, broadening the company’s current HyperRAB portfolio, which includes 300 IU/mL potency supplied in 1-mL (300-IU) and 5-mL (1500-IU) vials.
Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Type
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape- CSL Behring, Grifols SA, Sanofi SA, and Sun Pharmaceuticals Co. Ltd., among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Rabies Antiserum Market Report by Segment
By Type
- 1500IU
- 1000IU
- 400IU
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