Human Rabies Immunoglobulin Market was valued at USD 285 Million in 2020 and is forecasted to value over USD 500 million by 2027 end and register a CAGR of 8.4% from the forecast period 2020-2027. Gaining traction from a number of factors such as rising percentage of geriatrics in the world population, the prevalence of target diseases, growing demand for early detection of incurable diseases, and the presentation of innovative applications
Rabies is a zoonotic viral disease caused due to animal bits. The disease is known to affect domestic as well as wild animals such as bats, skunks, foxes, ferrets, raccoons, cats, or dogs, and infects humans upon contact with saliva of infected animal. Rabies is known to have an incubation period of one to three months. Individuals suffering from rabies show initial symptoms of fever and pain or tingling or burning sensation also called as paraesthesia at the wound site. As the disease progresses through the central nervous system (CNS), patients exhibit hyperactivity, excited behaviour, hydrophobia.
When the segmentation is done the basis of application the market is bifurcated into Category II Exposure and Category III Exposure. Human Rabies Immunoglobulin (IM) is widely used for the Category II Exposure and Category III Exposure, the most proportion of Human Rabies Immunoglobulin (IM) is used for Category III Exposure, and shared a major proportion in 2017.
In terms of market players, the global human rabies immunoglobulin ymarket is competitive and fragmented with the presence of various kind of different vendors including global human rabies immunoglobulin market includes CSL Behring, Grifols, Sanofi, Sichuan Yuanda Shuyang, CNBG, Kamada, CBPO, Shuanglin Bio Weiguang Bio, Bharat Serum, Shanghai RAAS, VINS.
Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for expansion of business and customer base of market players. The market players from Human Rabies Immunoglobulin market are anticipated to lucrative growth opportunities in the future with the rising demand for Human Rabies Immunoglobulin market in the global market.
North America has remained at the forefront in terms of growth opportunities as well as developments in the field of Human Rabies Immunoglobulin over the years. The region is likely to continue to account for a significant piece of the revenue pie over the next few years as well, thanks to the presence of several pharmaceutical and biosciences companies and the presence of numerous leading players in the field of Human Rabies.