Antivenom Market | Share | Analysis 2018 -2024
Changing aspects of antivenom market
Factors which are responsible for the growth of the antivenom market include-
• Increase death numbers due to venomous bites
• Increased incidences of the venomous bites in underdeveloped countries and their regions
• Upcoming government initiatives to develop antivenoms and their development from the manufacturers.
However, intricacy in regulatory policies, lack of funding in antivenom development, and high cost of the product are impeding the growth of antivenom market.
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North America holds the largest share in the market due to presence of snake poison control centers, approval of antivenom products, presence of great quality healthcare facilities and increase in clinical trial rounds.
Asia Pacific anti venom market is growing at a lucrative market growth due to rising number of snake bite cases when compared to urbanized regions.
While in Africa and Asia-Pacific regions have a growing demand for antivenom. According to WHO statistics, about 5million snake bites occurs in a year with half resulting into serious complication such as permanent disabilities and amputations, and death.
Market players are actively involved in R & D to develop antivenoms to meet the demand of the market. With newer and better antivenoms in the market, there will be steady growth. For e.g. Instituto Bioclon S.A developed Equine F(ab’)2 (clinical trials phase2) in antivenin to treat poison from scorpion sting.
With increasing demand for specific antivenom for different species of snakes, the market growth is inevitable. The local market players are focused on the increasing their production for antivenom such as Bharath Serum Vaccines limited and Vins Bioproducts in Asia-Pacific region. While the Middle East & African regions, South Africa will have lucrative business opportunity due to highest number of snakes in the country.
Some of the key market players from Antivenom market are-
• Vins Bioproducts Limited (India)
• Bharat Serum and Vaccines Limited (India)
• CSL Limited (Victoria)
• Rare Disease Therapeutics, Inc. (U.S.)
• F. Hoffmann-La Roche AG (Switzerland),
• Instituto Bioclon
• S.A. de C.V.(Mexico)
• Incepta Vaccine Ltd. (Bangladesh)
• BTG Plc (U.K)
• Merck & Co., Inc. (U.S)
• Pfizer Inc. (U.S.)
Notable market development:
Incepta Pharmaceuticals Limited launched their first antivenom which was made locally in 2015.
The global antivenom market is divided into following categories-
By product type
• Hospital Pharmacies
• Retail Pharmacies
By geographical regions
• North America
• Latin America
• The Middle East & Africa
For More Information: https://www.precisionbusinessinsights.com/market-reports/global-antivenom-market/
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