Rabies Diagnostics Market is Set to Record a Promising CAGR of 4.36% During Forecast 2018-2023

Market Overview:

The global rabies diagnostics market is accounted for USD 1,964 million in 2017 and expected to register 4.36% CAGR during the forecast period (2018–2023).

Rabies is a vaccine-preventable viral disease that occurs around 150 countries and territories. It is a viral disease that transmitted through a bite from an infected animal. Rabies is most common in the countries where the population of street dogs is present in large numbers, especially in Asia and Africa. The factors propelling the growth of the global rabies diagnostics market are raising awareness related to rabies, the prevalence of rabies, and several animals. Moreover, increasing research and development activities by non-profit organizations and aggressive strategies by top players such as mergers, expansion, and collaboration for the development of new products and launches by major players are also boosting the growth of the market.

However, high costs with the diagnostic and rising vaccination may hamper the growth of the market during the assessment period.

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Competitive Landscape:

• Bio-Rad Laboratories
• Merck KGaA
• Aviva Systems Biology Corporation
• Creative Diagnostics
• Demeditec Diagnostics GmbH
• Abbexa Ltd
• Norgen Biotek Corp.
• BioNote
• Express Biotech International Inc
• MyBioSource.com
• BioGen Technologies.

Segmentation:

• The Global Rabies Diagnostics Market has been segmented on the basis of method, technology, end-user, and region.
• Based on method, the market has been classified as a fluorescent antibody test (FAT), immunohistochemical test, amplification methods, histologic examination, and serology tests.
• Global rabies diagnostics market on the basis of technology has been segmented into ELISA/immunohistochemistry, chromatography techniques, PCR, and others.
• Based on market has been segmented into hospitals, diagnostic centers, cancer palliative care clinics, and others.

Regional Analysis:

The market is likely to dominate by Asia-Pacific during the forecast period owing to the improving healthcare infrastructure, increasing investments in the healthcare sector and expansions by market players in the region. Also, a country such as India and China are considering the fastest growing region due to a government focused toward adopting new technology, and the best treatment option from a developed country.

The Americas are expected to be the second-largest market in the global rabies diagnostics market due to the rising collaborative activities by major players, raising awareness about rabies, the involvement of non-profit organization to control rabies, and well-established healthcare infrastructure.

The Asia-Pacific market is likely to hold the majority share of the rabies diagnostics market owing to the improving healthcare infrastructure, rising investments in healthcare, increasing prevalence of rabies, raising awareness related to rabies, and an increasing number of pet animals. According to a report published by the World Health Organization, in September 2018, every year around 10,000 deaths occur owing to rabies, mainly in Asia and Africa.

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