The global anti-venom market size reached US$ 1.16 billion in 2023. Looking forward, the market is projected to reach US$ 2.00 billion by 2032, exhibiting a growth rate (CAGR) of 6.16% during 2023-2032. The rising incidences of snake bites and scorpion stings, the implementation of favorable government initiatives, and ongoing innovations in the industry represent some of the key factors driving the market.
Anti-venom, also known as venom antiserum, refers to a type of medication used to treat the effects of venomous bites or stings from animals, including snakes, spiders, scorpions, and certain marine creatures such as jellyfish or cone snails. It is obtained by extracting venom from the offending animal and then injecting small amounts of the venom into animals, such as horses, sheep, or goats, whose immune systems produce antibodies that are harvested and purified to create anti-venom.
Anti-venom neutralizes the toxins and counteracts the effects of the venom, preventing them from causing life-threatening complications such as respiratory failure or organ damage. It is extensively adopted across the globe in treating venomous bites and stings, depending on their history, examination, and geographic, clinical, and pathologic factors.
In addition to this, with the rising demand for animal-based protein, there is an increase in the number of livestock and other animals at risk of snake bites, which, in turn, is presenting remunerative growth opportunities for the market. Concurrent with this, the rising popularity of traveling and exploring exotic destinations, such as islands, deserts, jungles, and safaris, that puts tourists at risk of snake bites and other venomous animal encounters is acting as another significant growth-inducing factor.
Furthermore, numerous technological advancements in the biotechnology and healthcare industries and ongoing innovative improvements in manufacturing technology, allowing for the production of more effective and efficient anti-venom products, are positively impacting the market growth. Apart from this, the launch of various rapid snake venom detection kits, which utilize a rapid enzyme immunoassay to detect and identify snake venom through samples taken from bite sites, urine, plasma, blood, or other tissues and body fluids, is propelling the market forward.
Some of the companies covered include Bharat Serums and Vaccines Limited (BSV), Boehringer Ingelheim International GmbH, Boston Scientific Corporation, CSL Limited, Haffkine Bio-Pharmaceutical Corporation Limited, Incepta Pharmaceuticals Limited, Merck & Co. Inc., Merck KGaA, MicroPharm Limited, Pfizer Inc., and Rare Disease Therapeutics Inc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
2. What is the expected growth rate of the global anti-venom market during 2024-2032?
3. What has been the impact of COVID-19 on the global anti-venom market?
4. What are the key factors driving the global anti-venom market?
5. What is the breakup of the global anti-venom market based on the species?
6. What is the breakup of the global anti-venom market based on the anti-venom type?
7. What is the breakup of the global anti-venom market based on the mode of action?
8. What is the breakup of the global anti-venom market based on the end user?
9. What are the key regions in the global anti-venom market?
10. Who are the key players/companies in the global anti-venom market?
Anti-venom, also known as venom antiserum, refers to a type of medication used to treat the effects of venomous bites or stings from animals, including snakes, spiders, scorpions, and certain marine creatures such as jellyfish or cone snails. It is obtained by extracting venom from the offending animal and then injecting small amounts of the venom into animals, such as horses, sheep, or goats, whose immune systems produce antibodies that are harvested and purified to create anti-venom.
Anti-venom neutralizes the toxins and counteracts the effects of the venom, preventing them from causing life-threatening complications such as respiratory failure or organ damage. It is extensively adopted across the globe in treating venomous bites and stings, depending on their history, examination, and geographic, clinical, and pathologic factors.
Anti-Venom Market Trends
The rise in cases of venomous bites and stings across the world, particularly in rural and tropical regions and among agricultural workers and hunters, represents one of the prime factors driving the market growth. Besides this, the escalating consumer awareness of the importance of snake bite prevention and easy product availability at an affordable price is creating a favorable outlook for the market. Moreover, the implementation of numerous government initiatives to combat snake bites, such as education and training programs, and intensive investments in research and development (R&D) activities of new anti-venom products are contributing to the market growth.In addition to this, with the rising demand for animal-based protein, there is an increase in the number of livestock and other animals at risk of snake bites, which, in turn, is presenting remunerative growth opportunities for the market. Concurrent with this, the rising popularity of traveling and exploring exotic destinations, such as islands, deserts, jungles, and safaris, that puts tourists at risk of snake bites and other venomous animal encounters is acting as another significant growth-inducing factor.
Furthermore, numerous technological advancements in the biotechnology and healthcare industries and ongoing innovative improvements in manufacturing technology, allowing for the production of more effective and efficient anti-venom products, are positively impacting the market growth. Apart from this, the launch of various rapid snake venom detection kits, which utilize a rapid enzyme immunoassay to detect and identify snake venom through samples taken from bite sites, urine, plasma, blood, or other tissues and body fluids, is propelling the market forward.
Key Market Segmentation
This report provides an analysis of the key trends in each sub-segment of the global anti-venom market report, along with forecasts at the global, regional and country level from 2024-2032. The report has categorized the market based on species, anti-venom type, mode of action and end user.Species Insights:
- Snake
- Scorpion
- Spider
- Others
Anti-venom Type Insights:
- Polyvalent Anti-venom
- Monovalent Anti-venom
Mode of Action Insights:
- Cytotoxic
- Neurotoxic
- Haemotoxic
- Cardiotoxic
- Myotoxic
- Others
End User Insights:
- Hospitals
- Clinics
- Ambulatory Surgical Centers
Regional Insights:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape
The report has also provided a comprehensive analysis of the competitive landscape in the global anti-venom market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.Some of the companies covered include Bharat Serums and Vaccines Limited (BSV), Boehringer Ingelheim International GmbH, Boston Scientific Corporation, CSL Limited, Haffkine Bio-Pharmaceutical Corporation Limited, Incepta Pharmaceuticals Limited, Merck & Co. Inc., Merck KGaA, MicroPharm Limited, Pfizer Inc., and Rare Disease Therapeutics Inc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
Key Questions Answered in This Report
1. What was the size of the global anti-venom market in 2023?2. What is the expected growth rate of the global anti-venom market during 2024-2032?
3. What has been the impact of COVID-19 on the global anti-venom market?
4. What are the key factors driving the global anti-venom market?
5. What is the breakup of the global anti-venom market based on the species?
6. What is the breakup of the global anti-venom market based on the anti-venom type?
7. What is the breakup of the global anti-venom market based on the mode of action?
8. What is the breakup of the global anti-venom market based on the end user?
9. What are the key regions in the global anti-venom market?
10. Who are the key players/companies in the global anti-venom market?
Table of Contents
1 Preface3 Executive Summary12 Value Chain Analysis14 Price Analysis
2 Scope and Methodology
4 Introduction
5 Global Anti-venom Market
6 Market Breakup by Species
7 Market Breakup by Anti-venom Type
8 Market Breakup by Mode of Action
9 Market Breakup by End User
10 Market Breakup by Region
11 SWOT Analysis
13 Porters Five Forces Analysis
15 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- Bharat Serums and Vaccines Limited (BSV)
- Boehringer Ingelheim International GmbH
- Boston Scientific Corporation
- CSL Limited
- Haffkine Bio-Pharmaceutical Corporation Limited
- Incepta Pharmaceuticals Limited
- Merck & Co. Inc.
- Merck KGaA
- MicroPharm Limited
- Pfizer Inc.
- Rare Disease Therapeutics Inc.
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 135 |
| Published | April 2024 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value ( USD | $ 1.16 Billion |
| Forecasted Market Value ( USD | $ 2 Billion |
| Compound Annual Growth Rate | 6.1% |
| Regions Covered | Global |
| No. of Companies Mentioned | 11 |
