Global Antivenom Market Size 2024, Forecast To 2033
6 Mar, 2024
The antivenom market size has grown strongly in recent years. It will grow from $1.8 billion in 2023 to $1.94 billion in 2024 at a compound annual growth rate (CAGR) of 7.9%. The growth in the historic period can be attributed to high incidence of snakebites, geographic distribution of venomous snakes, limited access to medical facilities, agricultural and rural activities, public health initiatives .. The antivenom market size is expected to see strong growth in the next few years. It will grow to $2.55 billion in 2028 at a compound annual growth rate (CAGR) of 7.0%. The growth in the forecast period can be attributed to climate change impact on snake habitats, population growth in snake-prone regions, advancements in antivenom formulations, global health security initiatives, collaborative efforts for antivenom development .. Major trends in the forecast period include integration of data analytics, focus on education and training, strategic alliances for production scale-up, regulatory framework improvements, research in novel therapeutic targets.
Global Antivenom Market Key Driver
The escalating incidence of snake bites is poised to propel the growth of the antivenom market. Snake bites, potentially fatal injuries, result from toxins injected during venomous snake bites. Antivenom serves as a specialized treatment capable of mitigating or reversing most symptoms of snakebite envenoming when administered promptly and in sufficient therapeutic doses. As highlighted by the World Health Organization in May 2021, approximately 5.4 million snake bites occur annually, leading to 1.8 to 2.7 million cases of envenoming. Furthermore, snake bites claim between 81,000 to 138,000 lives annually, causing three times the number of amputations and other severe injuries. Thus, the mounting incidence of snake bites drives the growth of the antivenom market.
Get A Free Sample Of The Global Antivenom Market ReportGlobal Antivenom Market Segments
The antivenom market covered in this report is segmented –
1) By Type: Monovalent, Polyvalent, Other Types
2) By Animal: Snakes, Scorpions, Spiders, Other Animals
3) By Mode of Action: Cytotoxic, Neurotoxic, Haemotoxic, Cardiotoxic, Myotoxic, Other Modes Of Action
4) By End User: Hospitals, Clinics, Ambulatory Surgical Centers, Other End-Users
By Geography:The regions covered in the antivenom market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
North America was the largest region in the global antivenom market size in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the antivenom market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major Antivenom Industry Players
Pfizer Inc., Commonwealth Serum Laboratories, Merck KGaA, Incepta Pharmaceuticals Limited, Bharat Serums and Vaccines Limited, Rare Disease Therapeutics Inc., Vins Bioproducts Limited, Boehringer Ingelheim International GmbH, Boston Scientific Corporation, Haffkine Bio-Pharmaceutical Corporation Limited, MicroPharm Limited, Latoxan SAS, Serum Institute of India Pvt. Ltd., BSV Group, Shanghai Serum Biotech Co Ltd., British Technology Group International, South African Vaccine Producers, Bioclon Institute, Inosan Biopharma, Instituto Bioclon S.A. de C.V., F. Hoffmann-La Roche AG, Protherics Inc., Sanofi Pasteur SA, Venom Supplies Pty Ltd, Instituto Clodomiro Picado, Laboratorios Silanes S.A. de C.V., Instituto Biológico Argentino S.A., Instituto Vital Brazil, Instituto Butantan, Instituto Nacional de Producción de Biológicos, Instituto de Biotecnología de la UNAM,
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Antivenom Market Overview
Antivenom, also known as antivenin, is an antibody therapy that can block the poisons inside a specific venom if injected soon after a bite. It is generally used to treat poisonous animal bites or stings, such as rattlesnakes, moccasins, and copperheads.
Antivenom Global Market Report 2023 provides data on the global antivenom market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The antivenom market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.