Global Rabies Vaccine Market Size

Rabies Vaccine Market Analysis

The rabies vaccine market is expected to register a CAGR of 5.1% over the forecast period.

The COVID-19 pandemic has had a significant impact on the market. The pandemic impacted every aspect of veterinary healthcare, including vaccinations. For instance, as per the study titled, "The urgency of resuming disrupted dog rabies vaccination campaigns: a modeling and cost-effectiveness analysis" published in June 2021, Haiti's 2020 dog vaccination campaign was canceled, and funds were diverted to support the COVID-19 response. It also reported that COVID-19-related postponements to dog vaccination campaigns have been reported in other countries as well. However, the market is gaining traction owing to the resumption of veterinary care services worldwide and growing rabies cases amid the outbreak. For example, in April 2020, the Food and Agriculture Organization published a new policy on livestock production and the supply chain of animal products during the COVID-19 pandemic. According to 2020 data from the Centers for Disease Control and Prevention (CDC), cats, dogs, and several other species were at potential risk of contracting the virus. In addition, in October 2020, a study titled "Coravax rabies virus-based COVID-19 vaccine induces high levels of neutralizing antibodies against SARS-CoV-2" was published in the journal Nature, which studied the rapid development of a new, highly effective, and safe vaccine against COVID-19 using a vector based on the rabies virus, which has proven to be an effective vaccine against several emerging infectious diseases. Therefore, the initial impact of COVID-19 on the market's growth was adverse owing to lockdowns, virus curbing measures, and overall negligence toward the animal sector, however, such developments are expected to boost the market's growth over the coming years.

The increasing number of cases of rabies across the globe is one of the major factors driving the market's growth over the forecast period. Dogs are the leading cause of human rabies mortality and account for up to 99.0% of all human rabies transmissions as of May 2021, according to the World Health Organization (WHO). According to the same source, more than 29.0 million people worldwide seek vaccine bites each year, while 40.0% of individuals infected with suspected rabies are infants under 15 years of age. Rabies occurs on all continents except Antarctica, with over 95.0% of human mortality reported in the Asian and African regions. According to the WHO, rabies kills nearly 59,000 people worldwide each year. The prevention of canine rabies through animal vaccination programs and the elimination of stray dogs is likely to reduce rabies infection, however, canine rabies persists in several countries and exposure to rabies still accounts for more than 90.0% of human rabies infections and 99% of human deaths due to rabies worldwide.

The Association of Southeast Asian Nations (ASEAN) initially adopted a national elimination plan to eradicate human rabies in the region by the end of 2020, although their success has been limited in some areas. Considering the increasing mortality burden due to increasing cases of rabies across the globe, especially in low-income economies, the market is expected to project growth during the forecast period.

However, low immunization rates in dogs and lack of awareness and negligence by the government and public are anticipated to restrain the market growth over the forecast period.