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Growing awareness of prevention of rabies and support from the government are the key factors driving the growth of the rabies vaccine market

HYDERABAD, TELANGANA, INDIA, January 10, 2023 /EINPresswire.com/ -- Rabies Vaccine Market is estimated to reach $970 million by 2025 and is observed to grow at a CAGR of 6% during the forecast period of 2019-2025. Growing awareness of the prevention of rabies and support from the government are the key factors driving the growth of the rabies vaccine market. With the rise in the number of deaths due to rabies, the government has increased their efforts to prevent its spreading. The government has educated people and also taken measures to vaccinate animals, thus having reduced the number of rabies cases. This has driven the need for rabies vaccines and hence the rabies vaccines market.

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Key Takeaways

1. The Rabies Vaccine Market size is approx $635.6 million. The Vero Cells Rabies vaccine segment has the highest revenue by product segment. It is positioned the highest in the Rabies Vaccine market share, due to its feasibility and wider application.

2. North America held the largest market share with 30% in terms of revenue owing to its development in the healthcare sector.

3. Education on the causative and preventive measures of rabies, and increased initiatives by the government have driven the market. But lack of resources and adequate supply of vaccines in developing nations, hinder the market growth in such regions

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Segment Analysis

1. Vaccines are prepared using cellular substrates such as hamster kidney cells, chick embryo cells, fetal rhesus lung cells, Vero cells and others. The Vero Cell Babies vaccine segment accounted for the largest market share of the rabies vaccine market based on product type. This is owing to the feasibility of the Vero Cells. Also, these vaccines can be used for Pre-exposure Prophylaxis and Post-exposure Prophylaxis. These Vero cell vaccines are also safe and have high immunogenicity.

2. Rabies is responsible for more than 59,000 deaths, every year. The heavy expenditure for the treatment of rabies cases can be reduced by Pre-exposure Prophylaxis. This preventive vaccine is used by people who are at risk of being infected by rabies as their work exposes them to the virus. Those patients with the bite or non-bite exposures are given Post-exposure Prophylaxis to control and treat the infection after it has affected the body. Rabies immunoglobulin is given post-exposure to neutralize rabies at the wound site and is then followed by vaccination. Post-exposure Prophylaxis is projected to be growing at a CAGR of 4.7%. The post-exposure treatment has also considerably reduced the number of rabies-related deaths, even though cases of rabies are high.

3. North America occupies the largest share by geography, in Rabies Vaccine Market. This is because the number of deaths attributed to rabies has declined over the past few years. This reduction is due to animal vaccination programs and the development of human rabies vaccines by these nations. Government support and the establishment of a number of pharmaceutical companies in these regions also contribute to the rabies vaccine market. North America has a well-established healthcare infrastructure and higher awareness among the people as well as healthcare professionals, which further make the rabies vaccine market dominant.

Competitive Landscape:

The top 5 players in the Rabies Vaccine Market Industry are -

1. AstraZeneca
2. Sanofi Pasteur Inc.
3. Novartis Vaccines and Diagnostics Ltd.
4. Cadila Pharmaceuticals Ltd.
5. GlaxoSmithKline Biologicals

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