Anti-Venom Market Analysis
The global anti-venom market is predicted to grow at a 6.5% CAGR over the forecast period (2022-2027), as per the latest Market Research Future (MRFR) report. Anti-venom, which is also known as anti-venom immunoglobulin, venom antiserum, and antivenin, is a medicine made from antibodies that is used for treating specific stings and venomous bites. This antibody product can help to disable the toxins of a venom. When injected quickly after a sting or a bite, the antibodies present in anti-venom will help in neutralizing the venom, thus potentially saving the limb or life of the victim.
Various factors are propelling the anti-venom market growth. These factors, as stated by the MRFR report, include rising incidence of snake bites, rising government funding for research and development activities, unmet medical needs, and increasing patient pool. Additional factors pushing market growth include increasing government assistance, enhancing regulatory framework, and growing awareness about anti-venoms.
On the contrary, the soaring price of anti-venom due to high production cost in various regions, inappropriate clinical application, inconsistent quality standards, lack of availability of anti-venom stock, and inefficient production processes are factors that may restrict the anti-venom market growth over the forecast period.
Market Segmentation
The Market Research Future report provides a wide segmental analysis of the anti-venom market based on end user, product type, mode of action, type of species, and type.
Based on type, the anti-venom market is segmented into small molecule anti-toxins, homologous anti-venom, monovalent heterologous anti-venom, and polyvalent heterologous anti-venom. Of these, the polyvalent heterologous anti-venom segment will have the largest share in the market over the forecast period.
Based on species type, the anti-venom market is segmented into spiders, scorpions, snakes, and others. The snake segment is further segmented into Russell Viper, common krait, common cobra, and others.
Based on the mode of action, the anti-venom market is segmented into myotoxic, cardiotoxic, haemotoxic, neurotoxic, cytotoxic, and others.
Based on product types, the anti-venom market is segmented into spider anti-venom, scorpion anti-venom, snake anti-venom, and others. Of these, the snake anti-venom segment will dominate the market over the forecast period.
Based on end user, the anti-venom market is segmented into surgical centers, ambulatory, clinics, hospitals, and others. Of these, the hospitals segment will lead the market over the forecast period.
Regional Analysis
Based on the region, the anti-venom market trends report covers the latest trends and growth opportunities across Europe, the Americas, Asia Pacific (APAC), and the Middle East and Africa (MEA). Of these, the Americas will dominate the market over the forecast period. This is owing to the high healthcare expenditure and rising cases of scorpion and snake bites in the region.
The anti-venom market in Europe will have the second largest share in the market over the forecast period. This is owing to the improvements being made in the reimbursement scenario and strong financial support made by the government for RD activities.
The anti-venom market in the APAC region is predicted to grow at the fastest pace over the forecast period. This is owing to the rising advancements in pharmaceuticals and the huge patient pool.
The anti-venom market in the Middle East and Africa is predicted to have the lowest share over the forecast period. This is owing to poor medical facilities, lack of technical know-how, and restricted economic development.
Key Players
Leading players profiled in the anti-venom market report include Boston Scientific Corporation, Novo Nordisk A/s, UltiMed, Inc., Terumo Corporation, Stryker Corporation, Smiths Medical, Roboz Surgical Instrument, Owen Mumford, Ltd., Allison Medical, Inc., Medtronic plc, Medline Industries, Inc., Johnson Johnson Services, Inc, Hu-Friedy Mfg. Co., LLC, cHill-Rom, Allison Medical, Inc., Dickinson and Company, Becton, B. Braun Melsungen AG, Artsana S.p.a., Ypsomed Holding AG, and Thermo Fisher Scientific, among others.
July 2019: A research team in Bangladesh for the very first time is reviewing native snake species with an aim to offer local patients with an effective anti-venom at a mass scale production. The researchers will be collecting venoms from various snakes, analyzing their properties, and developing methods for producing the antidote.
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