Rabies Diagnostics Market Report 2024 - Market Size, Growth Rate, Major Drivers And Key Trends | Bio-Rad Laboratories Inc., The Merck Group, Aviva Systems Biology Corporation

"The rabies diagnostics market size 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%. The growth in the historic period can be attributed to globalization and travel patterns, one health approach adoption, regulatory standards development, advancements in animal testing, environmental influences.

The rabies diagnostics market size 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%. The growth in the forecast period can be attributed to increasing rabies incidence, environmental impact, cost efficiency, research and development, surveillance needs. Major trends in the forecast period include government initiatives and vaccination programs, globalization and travel, one health approach, public health concerns, remote and point-of-care diagnostics.

Market Overview -
Rabies diagnostics refers to the process of identifying Rabies disease based on the condition and symptoms. It is a preventable viral illness that is most commonly spread via a rabid animal's bite. Rabies can be diagnosed once the rabies virus is found in any portion of the infected animal's brain. In humans, saliva, serum, spinal fluid, and skin biopsies of hair follicles at the nape of the neck are tested for diagnosis.

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Increasing Prevalence Of Rabies Propel The Growth Of The Market For Rabies
The increasing prevalence of rabies is expected to propel the growth of the market for rabies diagnostics. Rabies is a preventable viral illness that is most commonly spread via a rabid animal's bite. The rabies virus attacks mammals' central nervous systems, eventually causing brain damage and leading to death. Rabies diagnosis is used to detect the rabies virus in humans and animals using a variety of diagnostic tests and techniques. Additionally, the rising cases of infectious animal-transmitted diseases have favored the demand for rabies diagnostics. For instance, in May 2021, according to the report published by the World Health Organization, a Switzerland-based agency for international public health states that every year, rabies kills around 59,000 people globally, and more than 29 million people worldwide receive a post-bite vaccine. Rabies is estimated to cost the world $8.6 billion each year. Therefore, the increasing prevalence of rabies will drive the rabies diagnostics market.

Competitive Landscape -
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.

Product Innovation In Rabies Diagnostics Market
Product innovation has emerged as a key trend gaining popularity in the rabies diagnostics market. Innovation and development of efficient testing techniques in the field of analytical chemistry designed to provide accurate and cost-effective analytical solutions are being adopted by pharmaceutical manufacturers all around the globe. These testing products are efficiently integrated into the regular sample testing process. For instance, in May 2022, Bio-Rad Laboratories Inc., a US-based developer, and manufacturer of specialized technology products launched the CFX Duet Real-Time PCR system, a clinical diagnostic device designed to aid researchers in the development of singleplex and duplex quantitative PCR (qPCR) tests. The unique features of the product provide improved thermal performance, as well as a patented, precise optical shuttle system and thermal gradient functionality for optimization.

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Key Segments -
The rabies diagnostics market covered in this report is segmented -
1) By Diagnostic Method: Fluorescent Antibody Test, Immunohistochemical Test, Amplification Methods, Histologic Examination, Serology Tests
2) By Technology: ELISA/Immunohistochemistry, Chromatography Techniques, PCR, Other Technologies
3) By End-User: Hospital, Diagnostic Centres, Cancer Palliative Care Clinics, Other End-Users

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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