Rabies Treatment Market | Rising Awareness about Animal Health is likely to be a Major Driver for the Market
Earlier, widespread culling of animals was embarked upon to stamp out rabies – a fatal disease caused by rabies virus transmitted from animals to humans. Domestic dogs are mainly the carriers of the virus and over 95.0% of human deaths result from dog-mediated rabies, states WHO. It also finds that Asia and Africa account for almost 95.0% of the tens of thousands of rabies deaths occurring annually.
However, studies eventually revealed that culling is not very effective and a more desirable solution is the mass vaccination to stem the occurrence of the disease in all species. For example, the canine vaccination program in Bangladesh focuses on dog bite management and mass vaccination in dogs in order to reduce human deaths on account of rabies. Efforts such as these by governments in various nations in Asia and Africa has promoted the rabies treatment market.
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Besides, growing concerns about the economic losses resulting from rabies outbreak is another major factor benefitting the global market for rabies treatment. In fact, in developed regions such as North America and Europe, where spends are substantial on making the livestock population safer and healthier, rabies treatment market has seen a solid growth. And thanks to such comprehensive programs, instances of rabies is very low in the regions.
With pet-care industry proliferating across the world on account of the rising penchant for pets in people living in urban pockets, the demand for rabies treatment has risen too. Apart from that, thrust on product development using latest technologies is also providing tailwind to the market. At present, research and development is focused on application of novel culture media to create contamination-free vaccines. To an extent, stringent regulatory examinations conducted by governments is stoking such progress.
Global Rabies Treatment Market: Overview
Rabies is a neural disease caused by a virus. It affects humans and several other mammals, with dogs, bats, raccoons, and cats being among the most common victims. Rabies causes inflammation of the brain, leading to fever, loss of control over body parts, and a fear of water. Rabies treatment is a key concern despite the relatively limited spread of the disease, as rabies is almost always fatal once the symptoms of the disease appear. Receiving rabies treatment in the interim between being bitten by a disease-carrying animal and the appearance of the symptoms is thus the only sure way to treat rabies. The rising awareness about animal health is likely to be a major driver for the global rabies treatment market in the coming years.
By product type, the global rabies treatment market is broadly segmented into cell culture vaccines, nerve tissue vaccines, and rabies immunoglobulin. Of these, cell culture vaccines are likely to lead the global rabies treatment market in the coming years.
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Global Rabies Treatment Market: Key Trends
The rising concern about the economic implications of rabies outbreaks in livestock is the key driver for the global rabies treatment market. Livestock care has become a vital topic in developed regions such as Europe and North America, where significant expenditure is devoted to the eradication of various hurdles in the process of making the livestock population in the region safer and healthier. The increasing focus on pet care in these regions is also likely to drive the demand from the global rabies treatment market in the coming years. Preventive vaccines are likely to be the key type of rabies treatment utilized in animal care in the coming years.
The rising government support to the eradication of rabies is another important driver for the global rabies treatment market. Widespread utilization of advanced rabies treatments often requires some help from regulatory bodies, while uniform adoption of preventive rabies treatment in animal care is also dependent to some extent on support from regulatory bodies. The increasing participation of governments across the world in helping the animal health sector in their countries is thus likely to remain a key driver for the global rabies treatment market in the coming years.
Global Rabies Treatment Market: Market Potential
The global rabies treatment market has been sustained by the high volume of demand in developing regions. However, steady government support could prove vital in the development of the rabies treatment market. Global healthcare organizations such as the WHO are also keen to collaborate with emerging economies in order to make animal healthcare more widely accessible. This could have significant consequences for the global rabies treatment market in the coming years.
Global Rabies Treatment Market: Geographical Dynamics
The global rabies treatment market is currently dominated by Asia Pacific, followed by North America and Europe. The rising prevalence of rabies in humans is likely to drive the rabies treatment market in Asia Pacific. On the other hand, the booming livestock sector, driven by the steady growth of food and beverage as well as the consumer goods industries, has become the prime driver for the rabies treatment market in North America. The rising expenditure on pet care across the world is also likely to remain a key driver for the global rabies treatment market in the coming years.
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Global Rabies Treatment Market: Competitive Dynamics
The global rabies treatment market is dominated by Sanofi, GlaxoSmithKline, Cadila Healthcare, and Merial. The sustained efforts to produce next-generation rabies vaccines are likely to propel the global rabies treatment industry in the coming years.
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