Rabies Vaccine MarketSize and Trends

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 expected to drive the global rabies vaccines market growth during the forecast period.

Global Rabies Vaccines Market-Impact of COVID-19 Analysis on the Global Rabies Vaccine Market

The impact of COVID-19 on the global rabies vaccine market has affected every market around the globe in a negative way. As the world still struggles to recover from the COVID-19 situation it will take a long time for every market to recover its losses. People have been reluctant to visit the physicians for vaccination due to social distancing. As per the situation, the impact of COVID-19 has strongly affected the future market opportunities, revenue growth graph, and the profit gains of the business for global rabies vaccine market.

Market- Trends

Rabies is a viral zoonotic disease caused through a dog’s bite which leads to progressive and fatal inflammation of the brain and spinal cord. There are two type of rabies; furious rabies and paralytic rabies. Symptoms accompanied with furious rabies are hyperactivity and hallucination. Paralytic rabies can cause coma and paralysis. Rabies seems fatal disease but it can be controlled through vaccines and medicines which have long been available to prevent death by rabies. According World Health Organization (WHO), globally rabies cause fatalities nearly 10,000 people yearly and almost 99% cases are due to dog bites. Symptoms caused by rabies are wound, fever with pain near the wound, tingling, pricking at wound site, and if not treated properly it can lead to cardiac or respiratory arrest. According to World Health Organization (WHO), in 2017, rabies caused 59,000 deaths annually in 150 countries with 95% cases in rural districts.