The latest report by IMARC Group, titled “Anti-Venom Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2027,” finds that the global anti-venom market size reached US$ 1,023.40 Million in 2021. Anti-venom, also known as antivenin, or venom antiserum, are antibodies that are used to stop snake venom from causing severe allergic reactions, blood clotting, muscle injury, or nervous system problems. It also treats scorpion, spider, jellyfish, and stone fish bites. It is obtained from various animals using different methods, such as milking or dissection. As anti-venoms can prevent or reverse the envenoming effects and help minimize mortality and morbidity, they are widely used to treat patients depending on their history, examination, geographic, clinical, and pathologic factors.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Anti-Venom Market Trends:
The market is primarily driven by the rising incidences of snakebites, especially in rural areas. Another major growth-inducing factor is open-plan housing and the practice of sleeping on the floor, that can expose people to highly venomous snakes. This can cause serious health problems, including kidney failure, severe paralysis that prevents breathing, bleeding disorders that can lead to fatal hemorrhage, and severe local tissue destruction that can cause permanent disability. Besides this, the introduction of snake venom detection kits for in vitro detection and immunological identification of snake venom in samples from bite sites, urine, plasma, blood, or other tissues and body fluids is propelling the market growth. Moreover, the rising awareness among the masses regarding snakebite treatment and the development of advanced anti-venoms are also creating a positive market outlook across the globe. Looking forward, IMARC Group expects the market value to reach US$ 1,544.50 Million by 2027, exhibiting a CAGR of 6.80% during 2022-2027.
- Based on species, the market has been segmented into snake, scorpion, spider, and others.
- On the basis of the anti-venom type, the market has been bifurcated into polyvalent and monovalent anti-venom.
- Based on the mode of action, the market has been categorized into cytotoxic, neurotoxic, haemotoxic, cardiotoxic, myotoxic, and others.
- On the basis of the end user, the market has been classified into hospitals, clinics, and ambulatory surgical centers.
- Region-wise, the market has been divided into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
- The competitive landscape of the market has been examined in the report, with some of the key players being 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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