Market Challenges And Opportunities

Drivers:

The growth of the market is attributed to factors such as the increasing prevalence of rabies, rising awareness about the disease, and the availability of advanced treatment options. For instance, according to the World Health Organization (WHO) data published in 2022, rabies is estimated to cause 59,000 human deaths annually in over 150 countries, with 95% of cases occurring in Africa and Asia. Due to underreporting and uncertain estimates, this number is likely a gross underestimate. The burden of disease is disproportionally borne by rural poor populations, with approximately half of cases attributable to children under 15 years of age.

Additionally, government initiatives to control rabies and improve healthcare infrastructure in developing countries are also expected to drive market growth.

However, the market is also facing challenges such as the high cost of treatment, lack of access to antiserum in remote areas, and the limited shelf life of antiserum products. Furthermore, the increasing adoption of vaccination as a preventive measure for rabies is also expected to limit the growth of the rabies antiserum market.

Rabies Antiserum Market Opportunities:

Development of advanced antiserum products: The development of advanced antiserum products, such as monoclonal antibodies, can improve the effectiveness and safety of rabies treatment. This presents an opportunity for companies to develop and commercialize new and innovative products. For instance, in June 2021, Kedrion Biopharma and Kamada Ltd. two leading biopharmaceutical companies specializing in plasma-derived protein therapeutics, announced the U.S. Food and Drug Administration (FDA) had approved a label update for KEDRAB (Rabies Immune Globulin [Human]), establishing the product's safety and effectiveness in children.
Expansion into emerging markets: Emerging markets, particularly in Asia and Africa, are experiencing a high prevalence of rabies and have a significant need for rabies treatment. This presents an opportunity for companies to expand their presence in these markets and capture a share of the growing demand.
Collaborations and partnerships: Collaborations and partnerships between companies and organizations can help to drive innovation and improve access to rabies treatment in underserved regions. This can lead to the development of new products and technologies that benefit both companies and patients. For instance, in September 2022, YishengBio Co., Ltd., a global biopharmaceutical company, and Summit Healthcare Acquisition Corp., a publicly traded special purpose acquisition company, announced that they had entered into a definitive agreement for a business combination between Summit and YishengBio Co., Ltd. Upon the closing of transaction, the combined company will be renamed YS Biopharma Co., Ltd. and become a publicly traded company on the Nasdaq.
Adoption of advanced technologies: The adoption of advanced technologies, such as artificial intelligence and machine learning, can improve the efficiency and effectiveness of rabies treatment. This presents an opportunity for companies to improve their products and services and stay ahead of the competition.

Rabies Antiserum Market Restraints:

High cost of antiserum products: The cost of antiserum products can be prohibitively high for many patients, particularly in developing countries where healthcare access is limited. This can limit demand for antiserum and drive demand for alternative treatment options. The cost of rabies antiserum can be a significant financial burden for both individuals and healthcare systems. This can deter individuals from seeking proper post-exposure prophylaxis, resulting in more complex and costly treatment if rabies develops. However, there has been efforts made which will eventually reduce the overall cost of the products.
Limited shelf life of antiserum products: Antiserum products have a limited shelf life, which can pose challenges for storage and distribution. This can limit the availability of antiserum in certain regions and drive demand for alternative treatment options.
Stringent regulatory requirements: Regulatory requirements for the development and commercialization of antiserum products can be stringent and time-consuming, which can limit innovation and product development in the market.