The Global Rabies Diagnostics Market was valued at approximately USD 2.11 Billion in 2023 and is projected to grow to around USD 3.56 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.21% during the forecast period from 2024 to 2032. Rabies diagnostics encompass several methods, including the Fluorescent Antibody Test (FAT), Direct Fluorescent Antibody (DFA) test, immunohistochemical tests, and amplification methods. This market is primarily driven by increased awareness and concern for animal-related diseases. Government initiatives to combat rabies, the growing necessity of immunization for humans and animals, and the development of surveillance strategies and diagnostic kits are significantly contributing to market expansion.
The rising incidence of neglected tropical diseases (NTDs) and the increasing number of dog bites are major drivers accelerating the growth of the rabies diagnostics market. The growing number of regulations related to rabies diagnosis, coupled with increasing healthcare expenditure and heightened awareness about the risks of virus exposure, further fuel market growth. Technological advancements in diagnostic methods and the launch of new products positively impact the market's growth rate. Additionally, rapid urbanization, changing lifestyles, and rising disposable incomes in both developing and developed countries significantly influence the growth trajectory of the rabies diagnostics market. Furthermore, collaborations among organizations for developing novel products and ongoing research to control rabies provide substantial growth opportunities. Increasing demand from emerging markets and government initiatives are anticipated to further propel market growth in the future. However, high diagnostic costs and increasing vaccination rates may hinder market growth. Intense competition among market players and the negative impact of COVID-19 on supply chains also present challenges. A lack of awareness regarding rabies diagnostics acts as a restraint, impeding market growth to some extent.
Asia-Pacific is expected to dominate the rabies diagnostics market during the forecast period, driven by improving healthcare infrastructure, rising investments in healthcare, and expansions by market players in the region. Countries like India and China are experiencing rapid growth due to government initiatives aimed at adopting new technologies and the best treatment options from developed countries. Moreover, the North America is anticipated to grow at fastest growth rate during forecast period 2024-2032.
Major market players included in this report are:
Bio-Rad Laboratories, Inc.
Merck KGaA
Aviva Systems Biology Corporation
Creative Diagnostics
Demeditec Diagnostics GmbH
Abbexa Ltd.
Norgen Biotek Corp.
BioNote, Inc.
Express Biotech International Inc.
MyBioSource.com
The detailed segments and sub-segments of the market are explained below:
By Method:
Fluorescent Antibody Test (FAT)
Immunohistochemical Test
Amplification Methods
Histologic Examination
Serology Tests
By Technology:
ELISA/Immunohistochemistry
Chromatography Techniques
PCR
Other
By End User:
Hospitals
Diagnostic Centers
Cancer Palliative Care Clinics
Others
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
RoLA
Middle East & Africa
Saudi Arabia
South Africa
RoMEA
Years considered for the study are as follows:
Historical year - 2022
Base year - 2023
Forecast period - 2024 to 2032
Key Takeaways:
Market Estimates & Forecast for 10 years from 2022 to 2032.
Annualized revenues and regional level analysis for each market segment.
Detailed analysis of geographical landscape with Country level analysis of major regions.
Competitive landscape with information on major players in the market.
Analysis of key business strategies and recommendations on future market approach.
Analysis of competitive structure of the market.
Demand side and supply side analysis of the market.
