Anti-venoms consist of antibodies used to treat venomous stings or bites. The growing prevalence of snake and other animal bites, such as fish stings, drives the anti-venom market.The global market for anti-venom is expected to grow due to increasing investment in developing new drugs and technological innovation in treating venomous bites. The growing incidence of snakebites worldwide is another major factor contributing to market growth. According to the World Health Organization (WHO), around 5.4 million people are bitten by snakes a year, resulting in a high demand for anti-venoms. However, the production of anti-venoms faces regulatory challenges in several countries.
Antivenom Market Data and Statistics
- The WHO has launched a strategy to prevent and control snakebite envenoming, a tropical disease affecting millions annually.
- Snakebites are a significant issue worldwide. In Asia, about 2 million individuals suffer from snakebites each year, while in Africa, an estimated 435,000 to 580,000 people require treatment for snakebites annually.
- India alone has 2.8 million snakebite cases, with 46,900 deaths every year.
- A study from the National Center for Biotechnology Information (NCBI) found that a snakebite treatment ward in a Bangladesh tertiary hospital experienced a 25% decrease in overall snakebite hospital admissions in 2020 compared to previous years.
- Ten laboratories in Latin America, including Instituto Nacional de Salud and Instituto Butantan, have observed a decline in snake antivenom production in 2021.
- According to Centers for Medicare & Medicaid Services (CMS), National Health Expenditures (NHE) in the US are projected to reach USD 6,192.5 Billion in 2028 with an average annual percent change of 5.2%.
- The per capita expenditure is estimated to touch USD 17,611 by 2028, implying that this growth in NHE is expected to create lucrative business opportunities.
United States Anti Venom Market
The anti venom market in the U.S. is expected to have significant growth due to the country's high occurrence of snake bites. The market's expansion is expected to be driven by announcements from considerable market players, such as the Fast Track designation granted by the US FDA to Ophirex'sdarapladib-methyl for the treatment of snakebite, and the approval received by Rare Disease Therapeutics, Inc. for ANAVIP. ANAVIP is approved for managing adult and pediatric patients with pit viper envenomation in the United States of America, and these announcements are expected to contribute to the market's growth.India Anti Venom Market
India is home to almost 275 species of snakes, out of which only 60 are venomous and considered medically relevant, with four having significant mortality and morbidity. These four venomous snakes are collectively called the 'Big Four.' Anti-venom is a biological product that detoxifies the poisoning of venomous bites. Venomous bites can result in various clinical conditions, and it is estimated that around 40,000-80,000 people die in Asia, mainly in India, from snakebites annually. Antivenom products have been developed to counter the poisonous effects of venomous bites, including vaccines and hyperimmune sera.Global Anti Venom Market Company Analysis
The companies that make up the global anti-venom market include 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.Global Anti Venom Market Company News
In July 2022, the AVRDC foundation was laid at IBAB, Bengaluru Helix Biotech Park, Electronics City, to boost antivenom production.In April 2022, Brazil and the government of Myanmar signed a complementary agreement to improve the quality and performance of anti venom serum produced in Myanmar. The project is 'Improving methodologies and techniques for the production of anti venom serum in Myanmar - phase II: anti venom quality.'
BSV and IISc collaborated in August 2022 to develop antivenom for snakebites in India, addressing the unique challenges specific to the region.
Ophirex, Inc. received Fast Track Designation from the U.S. FDA in March 2022 for darapladib-methyl, a treatment for snakebite. The FDA recognized the drug's potential benefits and the need to bring it to market efficiently.
Rare Disease Therapeutics, Inc. expanded FDA approval for the ANAVIP antivenom to treat North American Pit Viper Envenomation in April 2021, indicating progress in developing effective snakebite therapies.
Type - Global Anti-Venom Market breakup in 2 viewpoints:
1. Polyvalent Anti-Venom2. Monovalent Anti-Venom
Animal Type - Global Anti-Venom Market breakup in 4 viewpoints:
1. WheatSnake2. Scorpion
3. Spider
4. Others
End-User - Global Anti-Venom Market breakup in 4 viewpoints:
1. WheatClinics2. Hospitals
3. Ambulatory Surgical Centers
4. Others
Country - Global Anti-Venom Market breakup of 25 Countries:
1. North America1.1 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
Table of Contents
Companies Mentioned
- Bharat Serums and Vaccines Limited (BSV)
- Boehringer Ingelheim International GmbH
- Boston Scientific Corporation
- CSL Limited
- Merck & Co. Inc.
- Merck KGaA
- Pfizer Inc.
- Haffkine Bio-Pharmaceutical Corporation Limited
Methodology
In this report, for analyzing the future trends for the studied market during the forecast period, the publisher has incorporated rigorous statistical and econometric methods, further scrutinized by secondary, primary sources and by in-house experts, supported through their extensive data intelligence repository. The market is studied holistically from both demand and supply-side perspectives. This is carried out to analyze both end-user and producer behavior patterns, in the review period, which affects price, demand and consumption trends. As the study demands to analyze the long-term nature of the market, the identification of factors influencing the market is based on the fundamentality of the study market.
Through secondary and primary researches, which largely include interviews with industry participants, reliable statistics, and regional intelligence, are identified and are transformed to quantitative data through data extraction, and further applied for inferential purposes. The publisher's in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of their recommendations and advice.
Primary Research
The primary purpose of this phase is to extract qualitative information regarding the market from the key industry leaders. The primary research efforts include reaching out to participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions. The publisher also established professional corporate relations with various companies that allow us greater flexibility for reaching out to industry participants and commentators for interviews and discussions, fulfilling the following functions:
- Validates and improves the data quality and strengthens research proceeds
- Further develop the analyst team’s market understanding and expertise
- Supplies authentic information about market size, share, growth, and forecast
The researcher's primary research interview and discussion panels are typically composed of the most experienced industry members. These participants include, however, are not limited to:
- Chief executives and VPs of leading corporations specific to the industry
- Product and sales managers or country heads; channel partners and top level distributors; banking, investment, and valuation experts
- Key opinion leaders (KOLs)
Secondary Research
The publisher refers to a broad array of industry sources for their secondary research, which typically includes, however, is not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Patent and regulatory databases for understanding of technical & legal developments
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic new articles, webcasts, and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecasts
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 195 |
| Published | April 2024 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value ( USD | $ 1.11 Billion |
| Forecasted Market Value ( USD | $ 1.95 Billion |
| Compound Annual Growth Rate | 6.4% |
| Regions Covered | Global |
| No. of Companies Mentioned | 8 |
