A recent report by TMR Research, titled, “Rabies Treatment Market – Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 – 2025”, offers a detailed outlook of this market by reviewing many associated factors.
The rising awareness about highly negative effects of rabies outbreaks from a societal and philosophical perspective are chief drivers of the global rabies treatment market. This need is reflected by being aware of previous massive rabies outbreaks, causing thousands to die all over the globe. A clearly palpable need for avoiding the same in current times has been highly responsible for the need of reliable and effective treatment options, thus boosting the rabies treatment market. A rapid increase in animal hosts carrying rabies virus such as rodents, dogs, bats, birds, and other species has increased the chances of the disease to spread, thus mandating the need for timely treatment intervention. Such a need has translated towards developing improved treatment options for this disease, consequently bolstering the global rabies treatment market’s growth.
Activities involving taking care for livestock animals has significantly increased, especially in developed economies such as North America and Europe. A substantial budget is provided by farmers, peasants, shepherds, and the overall animal rearing community to get rid of several obstacles that hinder the livestock animals’ safety and health. One such hindrance exists in the form of harboring the rabies virus, and provision of a large expenditure to stop the animals from catching the disease has been a chief driving factor for the market. Several governmental bodies have put forth initiatives mostly in emerging economies such as Asia Pacific and Middle East and Africa, such as less expensive treatment facilities, free vaccine distribution among villages, and awareness-based support. Such initiatives had significant positive impact on the global rabies treatment market.
In spite of the market performing well, few issues plague its growth, thus posing as significant restraints. A prominent restraint involves less reach among people who are staying in remote regions. By not being able to get treatment on time, the affected cases could worsen, thus leading to death. However, efforts by local governmental agencies are showing better progress by increasingly making people staying in remote regions to become aware of the disease. This can easily cause the negative effects of the restraints to reduce.
The worldwide rabies treatment market is divided into many segments on the basis of application, product type, and region. From the product type viewpoint, cell culture vaccines have attracted maximum attention for treatment implementation purposes, thus holding the leading segment position. This is mainly because of the favorable initiatives put forth by both governmental and non-governmental organizations to increase the utilization frequency of this technique. Geography-wise, the global rabies treatment market is spread across North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. Of these, maximum treatment cases exist in the Asia Pacific region, due to widespread prevalence of the disease in this region. A large number of stray dogs carrying the rabies virus also exist Asia Pacific, thus making it highly necessary to implement rabies treatment methods.
The global rabies treatment market’s vendor landscape showcases a tough competitive scenario, wherein a cutthroat situation exists between some of the market players. During the forecast period, the competitive environment could intensify during the forecast period as many other players in the market are developing innovative treatment techniques. Players in this market also are providing patient assistance programs that enable providing proteins extracted from human genes to underinsured and non-insured people. Significant developments are expected to occur on this front, thus leading towards a tough competition in future. Rabies vaccines manufactured by using new techniques are expected to cause the competitive scenario to further escalate. GlaxoSmithKline, Merial, Novartis, Pfizer, Sanofi, and Merck are some of the most prominent players operating in the global rabies vaccines treatment market.
SOURCE: TMRRESEARCHBLOG
