Antivenom Market Report 2025

The antivenom market size has grown strongly in recent years. It will grow from $1.92 billion in 2024 to $2.06 billion in 2025 at a compound annual growth rate (CAGR) of 7.4%. The growth in the historic period can be attributed to the high incidence of snakebites, geographic distribution of venomous snakes, limited access to medical facilities, agricultural and rural activities, and public health initiatives.

The antivenom market size is expected to see strong growth in the next few years. It will grow to $2.74 billion in 2029 at a compound annual growth rate (CAGR) of 7.4%. The growth in the forecast period can be attributed to climate change's impact on snake habitats, population growth in snake-prone regions, advancements in antivenom formulations, global health security initiatives, and 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, and research in novel therapeutic targets.

The increasing occurrence of snake bites is anticipated to boost the antivenom market in the future. Snake bites are injuries that can result in a potentially deadly disease due to toxins in the bite of a venomous snake. Antivenom is a specific treatment that, when administered promptly and at the correct therapeutic dosage, can potentially prevent or alleviate most of the symptoms associated with snakebite envenoming. For example, in September 2023, the World Health Organization (WHO), a United Nations agency based in Switzerland focused on public health, reported that around 5.4 million people are bitten by snakes globally each year, leading to approximately 1.8 to 2.7 million cases of envenoming. Annually, an estimated 81,410 to 137,880 individuals lose their lives due to snake bites. This initiative aims to achieve a 50% reduction in mortality and disability caused by snakebite envenoming by 2030. Consequently, the rising incidence of snake bites is propelling the growth of the antivenom market.

The rising research and development activities are anticipated to drive the growth of the antivenom market in the future. Continuous efforts in research and development within the antivenom field lead to the discovery and creation of more advanced and effective formulations. Scientists and pharmaceutical companies are focused on improving the efficacy, safety, and specificity of antivenom products to achieve better treatment outcomes and minimize side effects. For example, in December 2023, Eurostat, the statistical office of the European Union based in Luxembourg, reported that in 2022, the business enterprise sector accounted for 66% of research and development expenditure in the EU, totaling €233 billion. This was followed by the higher education sector at 22% (€76 billion), the government sector at 11% (€37 billion), and the private non-profit sector at just 1% (€5 billion). Therefore, the increasing research and development activities are fueling the growth of the antivenom market.

Leading companies in the antivenom market are working on advanced technologies, including public-benefit target products, to enhance the efficacy, safety, and accessibility of antivenoms, with the ultimate goal of improving patient outcomes and alleviating the global burden of snakebite envenomation. Public-benefit target products refer to healthcare innovations or medical products developed primarily to meet specific public health needs, especially in underserved or vulnerable populations. For example, in June 2023, Bharat Serums and Vaccines Ltd., a biopharmaceutical company based in the US, partnered with the Indian Institute of Science, a public institution in India, to develop region-specific antivenoms for snakebites in India. This collaboration aims to enhance treatment effectiveness and lessen the public health impact of snakebites in the affected areas.

Major enterprises within the antivenom market are forging strategic partnerships to foster innovation and fortify their market presence. An illustrative instance is the collaboration between Bharat Serums and Vaccines Limited, an India-based pharmaceutical company, and the Indian Institute of Science (IISc) Bengaluru, a public university in India. Their partnership, established in August 2022, endeavors to advance the development of antivenoms tailored to specific regions. The joint effort seeks to pioneer the next generation of snakebite therapy in India by addressing the complexities stemming from variations in venoms across snake species and within regions. Present treatments predominantly rely on a single polyvalent antivenom designed for the country's 'big four' snakes, revealing limitations in efficacy as indicated by recent research. The collaboration focuses on creating region-specific antivenoms to elevate the effectiveness of snakebite therapy and ultimately save lives.

In June 2024, MicroPharm Limited, a pharmaceutical company based in the UK, announced its acquisition of Sanofi Pasteur for an undisclosed sum. This acquisition is intended to enhance MicroPharm's portfolio of vaccine products and bolster its research and development capabilities. Sanofi Pasteur is a global pharmaceutical company located in France, specializing in the research, development, manufacturing, and distribution of vaccines and biological products, including antivenoms.

Major companies operating in the antivenom market include 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.

North America was the largest region in the global antivenom market size in 2024. 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 countries covered in the antivenom market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Antivenom, also referred to as antivenin, is an antibody therapy designed to neutralize the toxins present in specific venoms when administered promptly after a bite. It is commonly employed in the treatment of poisonous animal bites or stings, such as those inflicted by rattlesnakes, moccasins, and copperheads.

The primary categories of antivenom include monovalent, polyvalent, and others. Monovalent antivenom is a specialized formulation crafted to counteract the effects of venom from a single species of snake or a specific toxin. These formulations are utilized to address venoms produced by a variety of animals, including snakes, scorpions, spiders, among others. They operate through diverse modes of action, such as cytotoxic, neurotoxic, hemotoxic, cardiotoxic, myotoxic, and others. These antivenom therapies are utilized by various end-users, including hospitals, clinics, ambulatory surgical centers, and other healthcare facilities.

The antivenom market research report is one of a series of new reports that provides antivenom market statistics, including antivenom industry global market size, regional shares, competitors with a antivenom market share, detailed antivenom market segments, market trends and opportunities, and any further data you may need to thrive in the antivenom industry. This antivenom market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The antivenom market consists of sales of taipan antivenom and death adder antivenom. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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