Antidotes Market is expected to reach USD 3.94 billion by 2030

Over 1 million snake bites are recorded in Africa annually, the World Health Organization reports, resulting in 50,000 individuals needing medical attention, 25,000 deaths, and another 25,000 people with long-term disabilities. The rise in medical conditions requiring antidotes, such as nerve agent poisoning, methotrexate rescue, methanol poisoning, mercury poisoning, lead poisoning, and gold poisoning, is likely to fuel the market's growth during the forecast period.

Data Bridge Market Research analyses that the antidotes market, which is USD 1.91 billion in 2022, is expected to reach USD 3.94 billion by 2030, at a CAGR of 9.5% during the forecast period 2023 to 2030. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Read More Info: https://www.databridgemarketresearch.com/reports/global-antidotes-market

Market Definition

Antidotes are agents that counter the effects of a poison or toxin. Antidotes counter the toxin's effects by either limiting absorption, binding with the poison, and neutralizing it, countering the poison's end-organ effects, or inhibiting the toxin's conversion to more hazardous metabolites. By using mechanisms such as competitive inhibition, receptor blockage, or direct antagonism of the toxin, antidote delivery may not only decrease the level of free or active toxin. Still, it may also mitigate the effects of the toxin on end organs.

Antidotes Market Dynamics
Drivers

Rising prevalence of snake bites will propel the market growth
The main market drivers are the prevalence of snake bites and the unfavourable outcomes related to them. The WHO estimates that 4.5-5.4 million people are bitten by snakes annually, 1.8-2.7 million of them develop clinical illness (envenoming), and 81,000-138,000 people die from the bite. This is the main factor fueling the market for antidotes. The rise in drug overdoses also fuels the demand for antidotes.

For instance, The World Health Organization estimates that more than 1 million snake bites occur in Africa each year, leaving 50,000 people in need of medical attention, 25,000 people dead, and another 25,000 permanently disabled. An increase in medical issues requiring antidotes is due to nerve agent poisoning, methotrexate rescue, methanol poisoning, mercury poisoning, lead poisoning, and gold poisoning. The market is anticipated to expand quickly during the forecast period.

Opportunities

Rising metal toxicity will act as an opportunity
An important component of the market is dominated by heavy metal toxicity. In addition to rising water contamination, using herbal remedies containing heavy metals is one of the main factors driving category expansion. The most frequent effects of heavy metal toxicity include anemia, miscarriages and early labor. Chelation, or using chemical countermeasures, is a crucial component of treatment. 25.8% of the world's population, or 1.62 billion, suffer from anemia (95 percent confidence interval: 1.50-1.74 billion). Therefore, these variables play a role in sector growth.

Some of the major players operating in the antidotes market are:

Pfizer Inc (U.S.)
Hikma Pharmaceuticals PLC (U.K.)
Dr. Reddy's Laboratories Ltd (India)
Aurobindo Pharma (India)
Mylan N.V. (U.S.)
Akorn Operating Company LLC (U.S.)
Alvogen (U.S.)
Fresenius Kabi AG (Germany)
Zydus Cadila (India)
Daiichi Sanko Inc (Japan)
Nichi-Iko Pharmaceutical Co., Ltd (Japan)

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