According to Coherent Market Insights, the new generation of inactivated polio and rabies vaccines market is expected to be valued at XX billion in 2018 and is expected to display a CAGR of XX% over the forecast period. Growth of the market is driven by increasing number of companion animals. According to 2017-2018 U.S. Pet Ownership & Demographics Sourcebook of American Veterinary Medical Foundation (AVMF), 38.4% of household in the U.S. owned dogs compared to 36.5% in 2012.
The new generation of inactivated polio and rabies vaccines market is composed of products that have been developed and made available for use by children, adults, and even the elderly. The market potential for this product is high with the availability of the proteins necessary to produce a protective coating on the surface of the vaccine protein. In addition, this product provides protection against a wide range of diseases including rabies and hepatitis.
The rabies vaccine is produced from a strain of V rabies virus which has been identified as the cause of the deadly "rabies" disease. The US Food and Drug Administration (FDA) has taken a lot of initiatives to promote the new generation of inactivated polio and rabies vaccines market and has released several guidelines for the manufacturers of these vaccines. One of the most recent moves involves the submission of new registration development strategy for the vaccines to meet the criteria set by the FDA. In a nutshell, this means that the new strategy is aimed at ensuring that the vaccines are designed to be effective. Some of the insights from the research show that the new strategy adopted by the FDA is making the vaccines available in more areas.
One of the major the new generation of inactivated polio and rabies vaccines market players is GlaxoSmithKline (GSK). The largest pharmaceutical company in Europe, GSK focuses its business on developing medicines for critical conditions and diseases affecting children and adults. It also produces an anti-malaria product that is highly effective against the disease called Malrone. On the other hand, France's Sanofi Pasteur, another major pharmaceutical company, is focusing its attention on the global inactivated polio and rabies vaccines market. The company's product portfolio includes Flucelix and Canova.
The other six major players in the new generation of inactivated polio and rabies vaccines market include Allianz Worldwide, Novartis, GlaxoSmithKline, Sanofi Pasteur, Lederle and Creda. Major players have pledged to eliminate rabies spread by dogs. Their goal is to reach zero human deaths by 2030.
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