The Antivenom Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Antivenom Global Market Report 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.
The growing incidence of snake bites is expected to propel the growth of the antivenom market going forward. Snake bites are injuries that can lead to a potentially fatal disease caused by toxins in a venomous snake’s bite. Antivenom is a specialized treatment that, when taken early and in an adequate therapeutic dose, can potentially prevent or reverse most of the symptoms of snakebite envenoming. For instance, in May 2021, according to the highlights shared by the World Health Organization (WHO), a Switzerland-based United Nations organization responsible for public health, every year, around 5.4 million snake bites occur, resulting in 1.8 to 2.7 million cases of envenoming (poisoning from snake bites). Moreover, Snake bites kill between 81 000 to 138 000 people each year, and they additionally cause three times the number of amputations and other severe injuries. Therefore, the growing incidence of snake bites is driving the growth of the antivenom market.
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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
Product innovations are a key trend gaining popularity in the antivenom market. Companies operating in the antivenom market are developing innovative products to sustain their position in the market. For instance, in April 2021, Rare Disease Therapeutics, Inc., a US-based pharmaceutical company, launched Antivenom ANAVIP®, a new expanded FDA-approved indication. This medication is licensed to treat pit viper bites in adults and children, including rattlesnakes, copperheads, and cottonmouth/water moccasins. It was created with a lengthy half-life to lessen the possibility of re-emergent venom effects (such as platelet drop, longer bleeding times, and other abnormal blood coagulation tests), which commonly necessitated additional doses of a shorter-acting antivenom.
The Antivenom Market Report Table Of Contents Includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
……….
27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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