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The global anti-venom market was valued at US$ 1,023.40 Million in 2021.
We expect the global anti-venom market to exhibit a CAGR of 6.80% during 2022-2027.
The sudden outbreak of the COVID-19 pandemic has led to the rising focus on developing the vaccines against the coronavirus infection by numerous pharmaceutical companies, thereby negatively impacting the R&D activities for anti-venom medicines.
The increasing requirement for safe, effective, and affordable anti-venoms, owing to the growing risk of snakebite envenoming among numerous agricultural workers and hunters, is primarily driving the global anti-venom market.
Based on the species, the global anti-venom market has been divided into snake, scorpion, spider, and others. Currently, snake exhibits a clear dominance in the market.
Based on the anti-venom type, the global anti-venom market can be categorized into polyvalent anti-venom and monovalent anti-venom, where polyvalent anti-venom currently holds the majority of the total market share.
Based on the mode of action, the global anti-venom market has been segmented into cytotoxic, neurotoxic, haemotoxic, cardiotoxic, myotoxic, and others. Among these, neurotoxic accounts for the largest market share.
Based on the end user, the global anti-venom market can be bifurcated into hospitals, clinics, and ambulatory surgical centers. Currently, hospitals exhibit a clear dominance in the market.
On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where North America currently dominates the global market.
Some of the major players in the global anti-venom market include Bharat Serums and Vaccines Limited (BSV), Boehringer Ingelheim International GmbH, Boston Scientific Corporation, CSL Limited, Haffkine Bio-Pharmaceutical Corporation Limited, Incepta Pharmaceuticals Limited, Merck & Co. Inc., Merck KGaA, MicroPharm Limited, Pfizer Inc., and Rare Disease Therapeutics Inc.
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