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Veterinary Rabies Vaccines Market Trends

Report ID: GMI10816
Published Date: Aug 2024
Report Format: PDF

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Veterinary Rabies Vaccines Market Trends

Rising incidence of rabies is a key driver of the market. According to the World Organization of Animal Health (WOAH), rabies claims approximately 59,000 lives annually, with 99% of cases resulting from dog bites. This viral infection, which primarily affects mammals including domestic animals like dogs and cats, has an almost 100% fatality rate once clinical symptoms manifest. The alarming mortality rate has prompted global efforts to control and prevent rabies, leading to widespread vaccination programs.
In 2023, the CDC reported that over one million dogs were vaccinated against rabies worldwide, and more than 25,000 rabid animals were investigated as part of control measures. This heightened awareness of rabies transmission from animals to humans, especially in regions with high stray animal populations and limited vaccine access, has driven a surge in demand for effective veterinary rabies vaccines.
Governments and animal health organizations are also intensifying their vaccination campaigns, further propelling the market's growth. Consequently, the market is expected to expand, with increased investments in research and development to enhance vaccine efficacy and coverage.

Authors: Mariam Faizullabhoy, Gauri Wani

Frequently Asked Questions (FAQ) :

The veterinary rabies vaccines market was valued at USD 502.5 million in 2023 and is anticipated to grow at 4.2% CAGR between 2024 – 2032, driven primarily by the increasing prevalence of rabies in animals.

The companion animals segment of the market was worth USD 264.6 million in 2023 and will grow rapidly through 2032, driven by the growing awareness among pet owners about the importance of rabies vaccination.

North America veterinary rabies vaccines market was valued at USD 197.6 million and is projected to grow at 3.8% CAGR from 2024 to 2032, driven by a robust veterinary healthcare infrastructure.

Biogénesis Bago S.A, Bioveta, Boehringer Ingelheim International GmbH, Ceva Santé Animale S.A, Dyntec, Elanco Animal Health Incorporated, Indian Immunologicals Limited among others.