Global Antivenom Market: Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2012-2016 and Forecast 2017-2023

Antivenom is also called as antivenin. Antivenom is a medication prepared from antibodies which are used to treat certain venomous bites. Poisonous bites result in certain clinical conditions such as muscle weakness, secretion of excessive saliva, breathing problems, along with other difficulties, in some instance that might lead to death as well. Antivenins are recommended only if there is significant toxicity or high risk of toxicity. Antivenom is made by collecting venom from the relevant venomous species of spider, snake, fish, injecting venom in little amounts to domestic animals and antibodies are separated from blood purification. These antibodies are used as antivenom.

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Increase in government initiatives to develop antivenoms and incidents of the venomous bites in undeveloped regions are fuelling the growth of antivenom market over the forecast period. In addition, rise in deaths due to venomous bites and technological advancements in the development of antivenom creates significant opportunities for the antivenom manufacturers. However, complexity in regulatory procedures, insufficient funding in development of antivenom, and high cost of the product are hindering growth of antivenom market.

Antivenom market segmented based on product type, animal, and distribution channel

Based on product type, global antivenom market has been segmented into
Monovalent
Polyvalent

On the basis of animal, global antivenom market is segmented into
Snake
Scorpions
Spiders
Others

On the basis of distribution channel, global antivenom market is segmented into
Hospital Pharmacies
Retail Pharmacies
Others

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Growing demand of antivenom worldwide, especially in Africa and Asia-Pacific region owing to more number of venomous bite incidents. According to World Health Organization (WHO), about 5 Mn snake bites occur each year, resulting 2.5 Mn envenomings (poisoning because of snake bites), minimum 100,000 deaths and around three times as many amputations and other permanent disabilities. Withdrawal of antivenoms like Fav-Afrique by Pfizer further grew demand for the market. Market players are also actively involving in R&D to develop antivenoms and to enhance their market position. In addition, many market players and institutions are actively involved in the development of new antivenoms. For instance, Equine F (ab’) 2 in antivenin is being developed by Instituto Bioclon S.A (clinical trials phase 2) for treatment of poisoning by scorpion sting. Based on the aforementioned factors antivenom market is expected to grow with significant CAGR rate during the forecast period.

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Geographically antivenom market segmented into following regions viz. North America, Asia-Pacific, Latin America, Europe, and Middle East & Africa. North America contributes a major share in antivenom market due to the establishment of snake poison control centres, increase in antivenom products approval, rise in number of antivenom clinical trial conducting firms and presence of established health care facilities. Asia Pacific anti venom market is expected to have lucrative market growth owing to increase in number of snake bite cases as compared to developed regions. Furthermore, development of antivenom products for several species of snakes, rising demand for antivenom products, and increase in a number of local antivenom manufacturers such as Bharath Serum, Vaccines Limited and Vins Bioproducts focusing on antivenom products in the Asia region. In the case of the Middle East and Africa region, South Africa expected to have significant growth opportunity due to the highest number of snake bites in the country. Many of the global players are expected to expand their business to African market during the forecast period.

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Some of the players in 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), and Pfizer Inc. (U.S.), to name a few

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