Rabies antiserum is a lifesaving biologic product used to treat rabies exposure in humans. It contains rabies antibodies produced in animals that provide immediate short-term protection against the rabies virus until the infected person develops their own antibodies through post-exposure vaccination. Rabies is a fatal viral disease spread to humans through bites or scratches from infected animals. Over 59,000 people die globally every year due to rabies, mostly in Asia and Africa and the majority of victims are children. There is an urgent need to control rabies virus transmission and promote effective post-exposure prophylaxis (PEP), which involves timely vaccination and administration of rabies immunoglobulin.

The global Rabies Antiserum Market is estimated to be valued at US$ 1.24 Bn in 2023 and is expected to exhibit a CAGR of 3.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Opportunity:
The opportunity to effectively treat rabies exposure presents a major market opportunity for rabies antiserum. Rabies kills thousands globally every year mainly in developing regions where healthcare access and immunization rates are low. Timely administration of rabies antiserum after exposure is critical to neutralize the virus before symptoms set in. Moreover, people in rural areas living close to domestic and wild animals are at higher risk of contracting rabies. Expanding medical access and availability of low-cost rabies antiserum products in developing country markets can help save lives and drive the market growth over the forecast period.

Porter’s Analysis:
Threat of new entrants: The biopharmaceutical industry requires huge RD investments and navigating an extensive regulatory approval process. This poses high entry barriers for new companies.
Bargaining power of buyers: Individual buyers have low bargaining power due to lack of availability of substitutes for rabies antiserum therapy. However, large healthcare institutions can negotiate on price.
Bargaining power of suppliers: Few manufacturers globally supply rabies immune globulin and they have significant bargaining power over buyers. However, presence of generic competitors balances out this power.
Threat of new substitutes: No effective substitute for rabies antiserum exists for post-exposure prophylaxis. Vaccines are a complementary treatment option.
Competitive rivalry: The market is dominated by a few major players who compete on manufacturing capability, geographical presence and portfolio breadth. Generics pose competitive pressure on innovators.

SWOT Analysis:
Strengths: Growing rabies burden globally increases treatment demand. Established treatment protocols ensure stable revenues.
Weaknesses: High manufacturing costs and lengthy production cycles limit capacity expansions. Supply disruptions impact patient access.
Opportunities: Emerging economies with limited access present an untapped market potential. New formulations/indications can boost growth.
Threats: Stringent regulations delay product approvals. Biosimilars/generics capture market share. Substitution with cheaper therapies in price-sensitive regions.

Key Takeaways:
The global rabies antiserum market is expected to witness high growth due to rising rabies incidence and lack of substitute treatment options. Regional analysis shows Asia Pacific dominating the market currently owing to India being a major production hub. North America also captures significant share due to growing bites from rabid animals. Key players operating in the rabies antiserum market are CSL Behring, Sanofi Pasteur, Grifols S.A., Bharat Serum and Vaccines Ltd., Novartis AG, Kedrion Biopharma Inc., Biogenesis Bago SA, Serum Institute of India Ltd., Haffkine Bio-Pharmaceutical Corporation Ltd., Shanghai Institute of Biological Products Co. Ltd., CNBG (China National Biotec Group) Co. Ltd., Harbin Pharmaceutical Group Co. Ltd., Beijing Tiantan Biological Products Co. Ltd. The Asia Pacific region is projected to grow at the fastest rate during the forecast period led by high unmet needs, increasing patient burden and improving access and awareness.