Global Antivenom Market was US$ 1.11 Billion in 2023, and reach to US$ 1.95 Billion by 2032 and is expected to grow at a CAGR of 6.6% from 2024 to 2032.
Antivenom is vital for treating snakebites, countering venom's harmful outcomes. Venomous bites rapidly unfold pollution, inflicting signs like swelling and organ disorder. Antivenom manufacturing entails injecting animals with venom, harvesting antibodies, and refining them. Administered right away, antivenom neutralizes venom, helping recovery and symptom alleviation.
The Antivenom marketplace's increase stems from rising awareness of available antivenoms, extended cases of venomous bites, and technological advancements. Snakebites, an omitted public health trouble in tropical regions, result in Millions of envenoming and deaths annually, together with amputations and disabilities. In India, hundreds of snakebite instances have been cited in 2021, with excessive mortality cost in states like Madhya Pradesh, Odisha, Chhattisgarh, and Uttar Pradesh. This surge in snakebite incidents is expected to power demand for antivenom remedy, fueling market expansion.
International collaboration is pivotal in the snake antivenom market, facilitating knowledge exchange, resource sharing, and skill development among nations and institutions. This enhances the global response to snakebite emergencies, streamlining efforts in antivenom production, distribution, and accessibility. Through collaboration, research findings and technological innovations are consolidated, leading to more effective antivenom formulations. This benefits regions with established antivenom programs and extends support to areas facing significant public health challenges due to snakebites.
Anti-Venom Market Segment
The polyvalent category is poised to dominate the antivenom marketplace because of its extensive-spectrum effectiveness in opposition to multiple snake species. These treatments counteract pollutants from diverse snakes, imparting versatile safety and green treatment for snakebite sufferers. They lessen the need for multiple remedies, as a result being desired by healthcare companies and patients alike for their convenience and cost-effectiveness.
The U.S. Antivenom marketplace is ready to preserve importance, pushed by high snake and venomous bite occurrence, growing focus, and technological improvements. According to CDC's June 2021 file, 7,000-8,000 venomous snake bites occur annually, ensuing in approximately five deaths. Despite the low fatality rate, people face better risks of long-term injuries. This elevates demand for antivenom, fostering market boom. Moreover, product approvals and strategic projects bolster growth. For example, Ophirex, Inc. Acquired the USA FDA's Fast Track designation for varespladib-methyl in March 2022, conducting trials in the U.S. and India. Rare Disease Therapeutics, Inc. Additionally extended ANAVIP's indication for handling North American pit viper envenomation in April 2021. These elements, ordinary snake bites, and market players' techniques will drive strong increase within the U.S. Antivenom marketplace.
Key Player in the Global Anti-Venom Market
The worldwide antivenom market comprises Bharat Serums and Vaccines Limited (BSV), Boehringer Ingelheim International GmbH, Boston Scientific Corporation, CSL Limited, Merck & Co. Inc., Merck KGaA, Pfizer Inc., and Haffkine Bio-Pharmaceutical Corporation Limited.
In August 2022, Bharat Serums and Vaccines Limited (BSV) partnered with the Indian Institute of Science (IISc) to create area-specific antivenom for snakebites in India, focused on the region's different needs. In March 2022, Ophirex, Inc. Obtained Fast Track Designation from the U.S. FDA for darapladib-methyl, a promising snakebite treatment, highlighting its capability benefits and the FDA's dedication to expedited marketplace access.
Type – Market breakup in 2 viewpoints:
1. Polyvalent Anti-Venom
2. Monovalent Anti-Venom
Animal Type – Market breakup in 4 viewpoints:
1. WheatSnake
2. Scorpion
3. Spider
4. Others
End-User – Market breakup in 4 viewpoints:
1. Clinics
2. Hospitals
3. Ambulatory Surgical Centers
4. Others
Country – Market breakup of 25 Countries:
1. North America
1.1 United States
1.2 Canada
2. Europe
2.1 France
2.2 Germany
2.3 Italy
2.4 Spain
2.5 United Kingdom
2.6 Belgium
2.7 Netherlands
2.8 Turkey
3. Asia Pacific
3.1 China
3.2 Japan
3.3 India
3.4 South Korea
3.5 Thailand
3.6 Malaysia
3.7 Indonesia
3.8 Australia
3.9 New Zealand
4. Latin America
4.1 Brazil
4.2 Mexico
4.3 Argentina
5. Middle East & Africa
5.1 Saudi Arabia
5.2 UAE
5.3 South Africa
All the Key players have been covered from 3 Viewpoints:
• Overview
• Recent Development
• Revenue Analysis
Company Analysis:
1. Bharat Serums and Vaccines Limited (BSV)
2. Boehringer Ingelheim International GmbH
3. Boston Scientific Corporation
4. CSL Limited
5. Merck & Co. Inc.
6. Merck KGaA
7. Pfizer Inc.
8. Haffkine Bio-Pharmaceutical Corporation Limited
