Name: Rabies Antiserum Market Size and Trends
Creator: Coherent Market Insights
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Keywords: Rabies Antiserum Market, Rabies Antiserum Market Size, Rabies Antiserum Market Outlook, Rabies Antiserum Market Key Trends, Rabies Antiserum Market Competitors Analysis, Rabies Antiserum Market opportunity Analysis, Rabies Antiserum Market Shares, Rabies Antiserum Market Forecast, Industry Analysis, Business Insights, Intelligence

Rabies Antiserum MarketSize and Trends

The global rabies antiserum market size was valued at USD 1.24 billion in 2023. The market is projected to grow at a CAGR of 3.3% from 2023 to 2030, resulting in an estimated market size of USD 1.56 billion by the end of 2030.

Fig 1. Global Rabies Antiserum Market Share (%) by Region, 2023

Fig 2. Global Rabies Antiserum Market Share (%) by Type, 2023

Rabies Antiserum Market Drivers:

Increasing prevalence of rabies: Rabies is a serious and life-threatening disease that is prevalent in many parts of the world, particularly in developing countries. This has led to a growing demand for effective treatment options, such as antiserum. According to the data by the Centers for Disease Control and Prevention, each year, rabies causes approximately 59,000 deaths worldwide.
Rising awareness about rabies: Governments, NGOs, and other organizations are increasingly raising awareness about the dangers of rabies and the importance of prevention and treatment. This is driving demand for antiserum and other rabies treatments.
Availability of advanced treatment options: The development of advanced treatment options, such as monoclonal antibodies, has improved the effectiveness of rabies antiserum and is driving demand for these products. For instance, according to a study published in February 2022, significant advancements have been achieved in the field of post-exposure prophylaxis for rabies, transitioning from polyclonal antibodies in serum to monoclonal antibodies produced by hybridomas. Additionally, there has been notable progress in shifting from murine monoclonal antibodies to human monoclonal antibodies. Clinical trials have provided confirmation of the effectiveness of cocktails for neutralizing monoclonal antibodies.
Government initiatives: Many governments are implementing initiatives to control the spread of rabies and improve access to healthcare in developing countries. This is driving demand for antiserum and other rabies treatments in these regions.