Rabies Diagnostics Global Market Report 2024

The global rabies diagnostics market has grown strongly in recent years. It will grow from $1.6 billion in 2023 to $1.7 billion in 2024 at a compound annual growth rate (CAGR) of 6.3%. During the historic period, growth can be attributed to several factors including the patterns of globalization and travel, adoption of the One Health approach, development of regulatory standards, advancements in animal testing, and the influences stemming from environmental factors. These combined elements contributed significantly to the observed growth.

The global rabies diagnostics market is expected to see strong growth in the next few years. It will grow to $2.19 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%. In the forecast period, growth is expected due to rising rabies incidence rates, the environmental impact, cost-efficiency measures, ongoing research and development efforts, and the increasing need for surveillance. Significant trends anticipated during this period encompass government initiatives and vaccination programs, the influence of globalization and travel, the adoption of the One Health approach, heightened public health concerns, and the emergence of remote and point-of-care diagnostics. These trends are poised to shape the landscape of rabies diagnostics and treatment.

The growth trajectory of the rabies diagnostics market is expected to surge due to the increasing prevalence of rabies cases globally. Rabies, a preventable viral disease commonly transmitted through animal bites, affects the central nervous system, often leading to fatal brain damage. Diagnosis involves various tests to detect the virus in both humans and animals. The rising instances of infectious animal-transmitted diseases have significantly heightened the demand for rabies diagnostics. According to a May 2021 report by the World Health Organization, an estimated 59,000 people worldwide succumb to rabies annually, with over 29 million individuals receiving post-bite vaccinations. The economic toll of rabies amounts to approximately $8.6 billion per year. Hence, the growing prevalence of rabies is set to be a major driver for the rabies diagnostics market.

The ongoing trend of urbanization is anticipated to fuel the growth of the rabies diagnostics market. Urbanization, driven by economic growth and industrialization, transforms rural areas into urban hubs. In this transition, rabies diagnostics play a pivotal role in swiftly detecting and managing rabies outbreaks within densely populated urban settings, safeguarding public health. As per an April 2023 report by the World Bank Group, over half of the global population currently resides in urban areas, a figure projected to climb to 6 billion by 2045, marking a 1.5-fold increase. Consequently, the surging urbanization serves as a catalyst propelling the rabies diagnostics market forward.

Product innovation stands as a prominent trend shaping the rabies diagnostics market. Pharmaceutical manufacturers globally are focusing on developing sophisticated testing techniques within analytical chemistry to deliver precise and cost-effective analytical solutions. These testing products seamlessly integrate into routine sample testing processes. For instance, in May 2022, Bio-Rad Laboratories Inc., a US-based technology developer, unveiled the CFX Duet Real-Time PCR system. This clinical diagnostic device aids researchers in creating singleplex and duplex quantitative PCR (qPCR) tests, boasting enhanced thermal performance, a patented optical shuttle system, and thermal gradient functionality for optimization.

Major players in the rabies diagnostics market are strategically collaborating to gain a competitive advantage through rapid test kit development. These collaborations aim to introduce swift test kits into the market, sustaining their competitive edge. An example is the partnership between Oita University and ADTEC, a Japan-based pharmaceutical company, launched by the Japan International Cooperation Agency (JICA) and the Department of Agriculture - Bureau of Animal Industry (DA-BAI) in October 2021. The Immunochromatographic Test Kit (ICT Kit) developed under the ''Japan and Philippines One Health Rabies'' (JAPOHR) Project significantly reduces rabies diagnosis time from 2-3 hours to 20-30 minutes. These kits aim to bolster early detection of rabies in high-risk areas and support the rabies prevention program in the Philippines over the next two years through provision, evaluation, and necessary training on ICT kits.

In December 2021, Co-Diagnostics, Inc., a diagnostics test company based in the United States, completed the acquisition of Idaho Molecular Inc. and Advanced Conceptions Inc. This strategic acquisition, executed for an undisclosed sum, significantly bolstered Co-Diagnostics' market position, marking a pivotal move in their journey towards the next phase of growth. The acquisition is geared towards expanding the global availability of advanced healthcare solutions. Idaho Molecular Inc. and Advanced Conceptions Inc., both US-based companies specializing in diagnostic and therapeutic devices, operate within the rabies diagnostics market, augmenting Co-Diagnostics' presence in this sector.

Major companies operating in the rabies diagnostics market report are Bio-Rad Laboratories Inc., The Merck Group, Aviva Systems Biology Corporation, Creative Diagnostics, Demeditec Diagnostics GmbH, Abbexa Ltd., Norgen Biotek Corp., BioNote Inc., Express Biotech International Inc., MyBioSource Inc., QIAGEN N.V., Thermo Fisher Scientific Inc., F. Hoffmann-La Roche Ltd., Agilent Technologies Inc., Fluidigm Corp., Bio-X Diagnostics S.A., Fujirebio Diagnostics Inc., Gold Standard Diagnostics Corp., Heska Corporation, IDEXX Laboratories Inc., InBios International Inc., KHB Shanghai Kehua Bio-Engineering Co. Ltd., Meridian Bioscience Inc., MP Biomedicals LLC, Neogen Corporation, Randox Laboratories Ltd., SDIX LLC, Sigma-Aldrich Corporation, Virbac Animal health Pvt. Ltd., Zoetis Inc.

North America was the largest region in the rabies diagnostics market in 2023. The regions covered in the rabies diagnostics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the rabies diagnostics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The methods employed in Rabies diagnostics encompass various tests such as fluorescent antibody tests, immunohistochemical tests, amplification methods, histologic examinations, and serology tests. The fluorescent antibody test (FA) is based on detecting rabies virus proteins (antigen) in the tissues of infected animals. Technologies utilized include ELISA/immunohistochemistry, chromatography techniques, PCR, and others. These diagnostics are commonly employed by hospitals, diagnostic centers, cancer palliative care clinics, and diverse end-users, including pharmacies.

This report provides rabies diagnostics market statistics, including rabies diagnostics industry global market size, regional shares, competitors with a rabies diagnostics market share, detailed rabies diagnostics market segments, market trends and opportunities, and any further data you may need to thrive in the rabies diagnostics industry. This rabies diagnostics market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The rabies diagnostics market includes revenues earned by entities by providing diagnostic services such as reverse transcription followed by polymerase chain reaction (RT-PCR), virus isolation, and direct fluorescent antibody (DFA) tests. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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