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Global Antivenom Market Growth Analysis 2024 – Forecast Market Size And Key Factors Driving Growth

Overview and Scope

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.

Sizing and Forecast

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..

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Segmentation & Regional Insights

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

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

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Major Driver Impacting Market Growth

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.

Key Industry Players

Major companies operating in the antivenom market report are 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,

The antivenom market report table of contents includes:

1. Executive Summary

2. Antivenom Market Characteristics

3. Antivenom Market Trends And Strategies

4. Antivenom Market – Macro Economic Scenario

5. Global Antivenom Market Size and Growth

….

31. Global Antivenom Market Competitive Benchmarking

32. Global Antivenom Market Competitive Dashboard

33. Key Mergers And Acquisitions In The Antivenom Market

34. Antivenom Market Future Outlook and Potential Analysis

35. Appendix