According to the report “Global Antivenom Market,” published by Market Data Forecast, the global market is projected to reach USD 1493.2 million by 2021 from USD 1109.5 million in 2016, at a CAGR of 6.12%.
Antivenom is a medication for venomous stings or bites and is made of antibodies. Specificity of the antivenom depends on the species involved. Antivenom is made by collecting venom from the specific animal and injecting it in a domestic animal whose body produces antibodies to fight it. These antibodies are collected and purified to administer to patients suffering from spider bites, scorpion stings, snake bites and fish stings.
Antivenoms are only used in case of a high risk of toxicity since there are severe side-effects like serum sickness and allergies. Due to such reasons, antivenoms should conform to WHO standards always. Snakebite antivenoms are in shortage all over the world because of which researchers are looking into this field for vast improvements.
The factors influencing the Global Market for Antivenom Market, either positively or negatively are presented in the DROC analysis. Increasing government initiations to promote the development of high quality antivenom products, presence of highest number of snake bite victims (especially from Asia & Africa regions), and estimated pipeline products launch are driving the growth of global Antivenom Market. In addition, growing of deaths from venomous animal’s bites and increasing research to develop advanced antivenom products are further stimulating the growth of global Antivenom Market. However, withdrawal of antivenom products, insufficient funding to develop the antivenom products to meet demand, high cost of the products, regulatory complexities, and high costs of maintaining livestock for antivenom production are restraining the growth of global Antivenom Market.
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For granular level understanding, the Antivenom Market is segmented based on the following categories with Market Size Estimations and Y-o-Y Forecasts presented for each sub-segments.
- By Type
- Hyper immune Sera
- By Animal
On the basis of geography, the global market is analysed under various regions namely North America, Europe, Asia-Pacific, Latin America and Middle-East & Africa. North America is the dominating market for Antivenom accounting for a share of approximately 39.0% followed by Europe in 2016. Asia-Pacific is estimated to be the fastest growing region with a CAGR of 8.59% during the forecast period of 2016-2021.
- North America Antivenom Market
- Europe Antivenom Market
- Asia-Pacific Antivenom Market
- Latin America Antivenom Market
- Middle East and Africa Antivenom Market
Key market players in the global Antivenom market include Instituto Bioclon, S.A. de C.V. (Mexico), Pfizer AG (Switzerland), CSL Limited (Australia), F. Hoffmann-La Roche Ltd. (Switzerland), Merck & Co., Inc. (U.S.), Rare Disease Therapeutics, Inc. (U.S.), Vins Bioproducts Limited (India), BTG Plc (U.K.), Incepta Vaccine Ltd. (Bangladesh), and Bharat Serum and Vaccines Limited (BSV) (India).
The Antivenom Market study offers the following deliverables:
- Global, regional and country-level analysis and forecasts of the study market; providing Insights on the geographical areas in which this industry is blooming
- Segment-level analysis on basis of product type, application, colour along with market size forecasts and y-o-y estimations to detect key areas of industry growth in detail
- Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
- Study of macro and micro environmental factors that effect the global market presented in an extensive strategic analyses section containing PESTLE and Porter’s Five Forces Analyses
- A comprehensive listing of key market players along with company overview, product portfolios, key financial information (subjected to availability), SWOT analysis and analyst overview to study and sustain the market environment
- Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
- Expertly devised Market Outlook along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
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