How Has The Antivenom Market Size Evolved Historically?
The antivenom market has seen considerable growth due to a variety of factors.
•In recent times, the antivenom market has been expanding robustly. It is expected to rise from $1.92 billion in 2024 to $2.06 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 7.4%.
The growth during the historic period can be credited to a high prevalence of snakebites, the territorial dispersion of poisonous snakes, inadequate accessibility to healthcare facilities, agricultural and rural operations, and public health initiatives.
What Will Be The Antivenom Market Size In The Future?
The antivenom market is expected to maintain its strong growth trajectory in upcoming years.
• The market size for antivenom is projected to witness a robust expansion in the upcoming years, reaching a value of "$2.74 billion in 2029 with a Compound Annual Growth Rate (CAGR) of 7.4%.
The anticipated growth within this forecast period is due to factors such as the impact of climate change on snake living environments, demographic expansion in areas commonly inhabited by snakes, advancement in antivenom solutions, worldwide health safety measures, and united endeavors towards the development of antivenom. Some key trends expected in this period involve the incorporation of data analytics, increased emphasis on education and training, forming strategic partnerships to expand production, enhancements in the regulatory environment, and research centered on innovative therapeutic targets.
What Key Factors and Trends are Driving the Growth of the Antivenom Market?
The rise in snake bite incidents is predicted to boost the antivenom market's expansion in the future. Snake bites can result in a potentially deadly illness caused by the toxins found in a venomous snake's bite. Antivenom, when administered promptly and in a sufficient therapeutic dose, is a dedicated treatment that can counteract or alleviate most of the effects of snakebite envenoming. For example, in September 2023, the World Health Organization (WHO), a public health-focused United Nations organization based in Switzerland, reported that approximately 5.4 million people around the world are bitten by snakes annually, leading to 1.8 to 2.7 million cases of envenoming. Each year, snake bites cause approximately 81,410 to 137,880 deaths. The goal of this approach is to halve the number of deaths and disabilities resulting from snakebite envenoming by the year 2030. Consequently, the increasing occurrence of snake bites is contributing to the growth of the antivenom market.
What are the Market Segments in the Antivenom Market?
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, Hemotoxic, Cardiotoxic, Myotoxic, Other Modes Of Action
4) By End User: Hospitals, Clinics, Ambulatory Surgical Centers, Other End-Users
Subsegments:
1) By Monovalent: Specific Antivenoms For Individual Snake Species, Specific Antivenoms For Individual Venom Types
2) By Polyvalent: Broad-Spectrum Antivenoms, Regional Polyvalent Antivenoms
3) By Other Types: Antivenoms For Other Venoms, Recombinant Antivenoms, Antivenom For Rare Venoms
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What Trends are Shaping the Antivenom Market?
Leading corporations in the antivenom market are introducing cutting-edge technology like public-benefit target products to improve the efficiency, safety, and availability of antivenoms. Their ultimate goal is to boost patient outcomes and lessen the worldwide snakebite envenomation impact. Public-benefit target products refer to healthcare breakthroughs or medical products primarily devised to meet specific public health needs, especially amongst neglected or susceptible groups. For example, in June 2023, Bharat Serums and Vaccines Ltd., a US biopharmaceutical company, partnered with the Indian Institute of Science, a public institution in India, to advance the development of region-specific antivenoms for snakebites in India. The partnership is geared towards enhancing the efficacy of treatments and diminishing the public health implication of snakebites in the affected areas.
Who Are the Key Players in the Antivenom Market?
Major companies operating in the antivenom market include:
• 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
What are the Regional Insights into the Antivenom Market?
North America was the largest region in the global antivenom market size in 2024.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
