The Rabies Antiserum market comprises products which provide active immunization to humans bitten by rabid or suspected rabid animals. Rabies antiserum products works by providing immediate short-term passive immunity by supplying rabies virus-neutralizing antibodies, which prevent the onset of symptoms. These products come as freeze-dried plasma or purified immunoglobulin preparations and require reconstitution or dilution before administration via intramuscular injection around the wound area. The demand for these products stems from the widespread prevalence of rabies in developing regions of Asia and Africa. WHO reports over 59,000 annual deaths from rabies globally, with majority occurring in rural areas with poor access to preventive care and timely post-exposure prophylaxis. Increased awareness through public health campaigns and availability of affordable biosimilar antiserum brands from developing countries has propelled the uptake of rabies antiserum significantly over the past decade.
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:
One of the key trends observed in the Rabies Antiserum market is the introduction of affordable human-derived rabies immunoglobulin products by Asian manufacturers. Previously, rabies antiserum products were sourced majorly from animal plasma which involved higher purification costs. However, monoclonal antibody technology facilitating the production of fully human immunoglobulins has enabled players like Serum Institute of India and Bharat Serums to offer cost-competitive rabies IG products using plasma from immunized donors. These biosimilars capture a major share of demand from public health systems in developing Asian and African countries, narrowing the cost divide compared to products from Western pharmaceutical firms. This has played a significant role in enhancing post-exposure care availability and reducing human rabies fatalities over the past decade.
Porter’s Analysis
Threat of new entrants: The threat of new entrants to the Rabies Antiserum Market is low as there is high infrastructure and capital investment cost for biologics manufacturing.
Bargaining power of buyers: The bargaining power of buyers is moderate as healthcare providers are the major buyers and few alternatives are available.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as raw material suppliers have bargaining power due to developing API supply capabilities.
Threat of new substitutes: The threat of new substitutes is low as Rabies Antiserum is an effective treatment option for post exposure prophylaxis of rabies.
Competitive rivalry: The competitive rivalry is high among established players to enhance their market share through R&D investments for improved product offerings.
Key Takeaways
The global Rabies Antiserum Market is expected to witness high growth. North America is expected to dominate the market during the forecast period attributed to rising prevalence of animal bites and growing distribution network.
Regional analysis: Asia Pacific is expected to grow at the fastest CAGR during the forecast period owing to increasing government focus on animal welfare and expanding healthcare infrastructure in emerging economies.
Key players: Key players operating in the Rabies Antiserum Market are CSL Behring, Sanofi Pasteur, Grifols S.A., Bharat Serum and Vaccines Ltd., Novartis AG, Kedrion Biopharma Inc., Biogenesis Bago SA, Serum Institute of India Ltd., Haffkine Bio-Pharmaceutical Corporation Ltd., Shanghai Institute of Biological Products Co. Ltd., CNBG (China National Biotec Group) Co. Ltd., Harbin Pharmaceutical Group Co. Ltd., and Beijing Tiantan Biological Products Co. Ltd.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
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