PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1401434
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1401434
Global Rabies Veterinary Vaccines Market is valued approximately at USD 584.8 million in 2022 and is anticipated to grow with a healthy growth rate of more than 4.10% over the forecast period 2023-2030. The rabies vaccine is an effective way to prevent rabies, which is usually caused by being bitten by a dog or bat. There are many safe and effective rabies vaccines available that can be administered before or after exposure to the virus. The rabies vaccines market growth is driven by factors such as the increase in animal rabies vaccination coverage in developing countries, a greater awareness of zoonotic diseases and growing government initiatives to eradicate animal rabies.
The pet ownership rate is increasing in developed countries, which is driving the market growth. According to the 2021-2022 National Pet Owners Survey conducted by the American Pet Products Association (APPA), about 90.5 million families, or 70% of US households, own a pet. One of the major factors driving market growth over the forecast period is the increasing number of rabies cases worldwide. As of May 2021, dogs are responsible for up to 99% of all human rabies transmissions, making them the leading cause of human rabies mortality worldwide, according to the World Health Organization (WHO). Each year, over 29.0 million people globally seek vaccine bites, and 40.0% of those infected with suspected rabies are infants under 15 years of age, according to the same source. The animal vaccines market is projected to experience steady growth, due to the rising number of cattle and poultry in developing nations. Rabies is a viral disease that can be prevented, but if not prevented or treated in time, it can affect the central nervous system of animals, leading to brain inflammation and death. According to a National Foundation for Infectious Diseases article, the U.S. reports nearly 5,000 rabies cases in animals every year, with over 90% of cases occurring in wildlife, while domestic animals like dogs and cats account for approximately 10% of animal rabies incidents. Moreover, the animal vaccines market's growth is fueled by an increase in investment for research and development of vaccines that inhibit the growth of antibiotic-resistant organisms. This rise in demand for animal vaccines has led to the emergence of many new vaccines. Technologically advanced service providers are expected to boost the market, but the high storage cost of the vaccines and lack of awareness about animal health are stifling market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Rabies Veterinary Vaccines Market study include Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. In 2022, North America dominated the market due to a high pet population and significant veterinary healthcare spending. Established veterinary pharmaceutical companies and government organizations are working to implement mass vaccination programs and wildlife rabies bait-vaccine campaigns to combat rabies. Pet owners are also becoming more aware of preventing deadly infections. Asia Pacific is expected to be the fastest-growing region over the forecast period due to a large stray dog population. The region is implementing multiple strategies to eradicate rabies by 2030, including mass dog vaccination programs in collaboration with key players and government organizations. For example, in April 2022, as part of the rabies control initiative, the Global Alliance for Rabies Control (GARC) and Boehringer Ingelheim organized a mass rabies vaccination program in the Philippines, Indonesia, Vietnam, and Malaysia, vaccinating 12,000 animals.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
List of tables and figures and dummy in nature, final lists may vary in the final deliverable
List of tables and figures and dummy in nature, final lists may vary in the final deliverable