Market Challenges And Opportunities

Global Rabies Vaccines Market- Drivers

Key players are focused on research and development strategies which are expected to drive the global rabies vaccine market growth during the forecast period. For instance, in 2017, CPL Laboratories (India), a joint venture biotechnology company established in 2009 by Novavax Inc., USA and Cadila Pharmaceuticals Limited, stated that Nano- particle vaccine of baculvirous-derived glycoprotein, a four dose regime vaccine is in phase-3 human trial, and is expected to be approved by 2021.

In U.S., rabies in early 1960 to 2000 was negligible, and witnessed a sudden rise resulting in 100 cases annually. Although the fatalities were rare, lack of awareness towards rabies is proving to be a risk. From 1960 to 2018, 127 cases of rabies were reported in U.S. from dog bites and bat bites. Whereas in Asia, rabies is a major burden, accounting for almost 35,000 deaths, fatalities caused by rabies in India are 55%. In Africa, an estimated 21,476 human deaths occur due to dog bite rabies, Africa spends less on the post exposure prophylaxis treatment of rabies and have highest mortality rate due to rabies. Central Asia and Middle East Asia have an estimated 1875 and 229 fatalities yearly. These factors are is expected to drive the global rabies vaccines market growth during the forecast period.

Global Rabies Vaccines Market- Restraints

Emerging economies in Africa and Asia are expected to witness a major burden of rabies due to lack of awareness and costly treatment. Post exposure, prophylaxis is a dose regime for dog mediated rabies. According to World Health Organization (WHO), in 2017, the estimated cost of PEP was US $1.5 million, which can make it unaffordable in mid- or low-income countries and restrain the growth of the global rabies vaccines market during the forecast period.