Antivenom Market Trends, Size, Segmentation, Analysis And Outlook 2024-2033

The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Antivenom Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $2.55 billion In 2028 At A CAGR Of 7.0% :

The antivenom market size has grown strongly in recent years. It will grow from $1.8 billion in 2023 to $1.94 billion in 2024 at a compound annual growth rate (CAGR) of 7.9%. The growth in the historic period can be attributed to high incidence of snakebites, geographic distribution of venomous snakes, limited access to medical facilities, agricultural and rural activities, public health initiatives .

The antivenom market size is expected to see strong growth in the next few years. It will grow to $2.55 billion in 2028 at a compound annual growth rate (CAGR) of 7.0%. The growth in the forecast period can be attributed to climate change impact on snake habitats, population growth in snake-prone regions, advancements in antivenom formulations, global health security initiatives, collaborative efforts for antivenom development. Major trends in the forecast period include integration of data analytics, focus on education and training, strategic alliances for production scale-up, regulatory framework improvements, research in novel therapeutic targets.

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Antivenom Market Major Segments
The antivenom market covered in this report is segmented -
1) By Type: Monovalent, Polyvalent, Other Types
2) By Animal: Snakes, Scorpions, Spiders, Other Animals
3) By Mode of Action: Cytotoxic, Neurotoxic, Haemotoxic, Cardiotoxic, Myotoxic, Other Modes Of Action
4) By End User: Hospitals, Clinics, Ambulatory Surgical Centers, Other End-Users

Key Driver - Rising Number Of Snake Bites To Drive Market Growth

The growing incidence of snake bites is expected to propel the growth of the antivenom market going forward. Snake bites are injuries that can lead to a potentially fatal disease caused by toxins in a venomous snake's bite. Antivenom is a specialized treatment that, when taken early and in an adequate therapeutic dose, can potentially prevent or reverse most of the symptoms of snakebite envenoming. For instance, in May 2021, according to the highlights shared by the World Health Organization (WHO), a Switzerland-based United Nations organization responsible for public health, every year, around 5.4 million snake bites occur, resulting in 1.8 to 2.7 million cases of envenoming (poisoning from snake bites). Moreover, Snake bites kill between 81 000 to 138 000 people each year, and they additionally cause three times the number of amputations and other severe injuries. Therefore, the growing incidence of snake bites is driving the growth of the antivenom market.

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Prominent Trend - Product Innovations Transforming The Antivenom Market

Product innovations are a key trend gaining popularity in the antivenom market. Companies operating in the antivenom market are developing innovative products to sustain their position in the market. For instance, in April 2021, Rare Disease Therapeutics, Inc., a US-based pharmaceutical company, launched Antivenom ANAVIP®, a new expanded FDA-approved indication. This medication is licensed to treat pit viper bites in adults and children, including rattlesnakes, copperheads, and cottonmouth/water moccasins. It was created with a lengthy half-life to lessen the possibility of re-emergent venom effects (such as platelet drop, longer bleeding times, and other abnormal blood coagulation tests), which commonly necessitated additional doses of a shorter-acting antivenom.

Antivenom Market Players
Major companies operating in the antivenom market report are Pfizer Inc., Commonwealth Serum Laboratories, Merck KGaA, Incepta Pharmaceuticals Limited, Bharat Serums and Vaccines Limited, Rare Disease Therapeutics Inc., Vins Bioproducts Limited, Boehringer Ingelheim International GmbH, Boston Scientific Corporation, Haffkine Bio-Pharmaceutical Corporation Limited, MicroPharm Limited, Latoxan SAS, Serum Institute of India Pvt. Ltd., BSV Group, Shanghai Serum Biotech Co Ltd., British Technology Group International, South African Vaccine Producers, Bioclon Institute, Inosan Biopharma, Instituto Bioclon S.A. de C.V., F. Hoffmann-La Roche AG, Protherics Inc., Sanofi Pasteur SA, Venom Supplies Pty Ltd, Instituto Clodomiro Picado, Laboratorios Silanes S.A. de C.V., Instituto Biológico Argentino S.A., Instituto Vital Brazil, Instituto Butantan, Instituto Nacional de Producción de Biológicos, Instituto de Biotecnología de la UNAM,

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Largest And Fastest Growing Region In The Market
North America was the largest region in the global antivenom market size in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the antivenom market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Antivenom Market Report Structure
3. Antivenom Market Trends And Strategies
4. Antivenom Market - Macro Economic Scenario
5. Antivenom Market Size And Growth
…..
27. Antivenom Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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