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Anti-venom Market Is Expected to Exhibit a Strong 4.7% CAGR by 2026; owing to high incidence of snake bites

September 20th, 2021 Coherent Market Insights Releases

Anti-venom Market- Insights

Anti-venom is used for the treatment of bites from venomous animals such as snakes, spiders, scorpions, stone fish, and jellyfish. There are two types of anti-venoms: monovalent and polyvalent. Monovalent anti-venoms, also known as monospecific anti-venom, are effective against a single species of venomous snake or to a few closely related species, whose venom is effectively cross-neutralized with anti-venom.  Polyvalent anti-venom is a purified fraction of immunoglobulins or immunoglobulin fragments fractionated from the plasma of animals that have been immunized against a snake venom or a snake venom mixture.

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Anti-venom Market- Drivers

Increasing R&D and approval of novel anti-venoms is expected to boost growth of the global anti-venom market. For instance, University of Arizona is developing polyvalent F(ab)2 Equine, an anti-venom indicated for the treatment against the North American coral snake (Micrurus) bite. Currently (2018), the product is under phase 3 clinical trial and is expected to get approval in the near future. Similarly, in October 2018, Silanes Laboratories received the U.S. Food and Drug Administration (FDA) approval for Anavip, an anti-venom against the bite of snakes of the Crotalus family, which includes the rattlesnake. In 2017, Rare Disease Therapeutics, Inc., partner of Silanes Laboratories, launched Anavip in the U.S. market.

Increasing initiatives of various companies, regulatory bodies, and private organizations to spread awareness regarding poisonous animal bite and use of anti-venom is also expected to contribute to growth of the market. Moreover, these establishments are also focused on adopting collaboration strategies to spread awareness regarding snake bite treatment. For instance, in November 2015, the Health Action International (HAI) and Global Snakebite Initiatives (GSI) partnership took initiative to promote a Member State side-event on snakebite at the World Health Assembly in May 2016, aiming to raise awareness of the global snakebite burden, amplify existing, but underused health systems and scientific innovations.

The global anti-venom market size was valued at US$ 504.9 Mn in 2018, and is expected to witness a CAGR of 4.7% during the forecast period (2018 – 2026).

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• Current and future of global Anti-venom market outlook in the developed and emerging markets
• The segment that is expected to dominate the market as well as the segment which holds highest CAGR in the forecast period.
• Regions/countries that are expected to witness the fastest growth rates during the forecast period
• The latest developments, market shares, and strategies that are employed by the major market players

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Anti-venom Market- Restraints

However, high cost of anti-venoms and related treatment procedures is a major factor hampering growth of the market over the forecast period. For instance, according to the data published by World Health Organization (WHO) in March 2018, in sub-Saharan Africa in 2010 and 2011, the direct cost of anti-venom alone ranged from US$ 55 to US$ 640 for an effective treatment, using recommended doses, with the average cost being US$ 124.7. Such high costs are not easily affordable in emerging economies.

Anti-venom Market- Regional Analysis 

On the basis of region, the global anti-venom market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. Asia Pacific is expected to account for the largest market share, owing to increasing incidents of snake bites in the region. For instance, according to the data published by Journal of the Association of Physicians of India, in 2017, around 50,000 deaths are registered in India, annually, due to venomous snake bites.

However, the adoption of anti-venom is low in India, Bangladesh, and Nepal, owing to increasing preference for traditional approaches in the treatment of snake bites. For instance, according to the data published by Journal of Pharmacology & Clinical Toxicology, in June 2018, in Bangladesh, only 3% of snake bite victims visit hospital for their treatment. This is expected to hamper growth of the market in Asia Pacific.

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Anti-venom Market- Competitive Landscape 

Major players in the market are focused on increasing the shelf life and extending the expiry date of their products. For instance, in September 2018, BTG plc. announced that the U.S. Food & Drug Administration (FDA) has granted approval for updating the shelf life of CroFab Crotalidae Polyvalent Immune Fab (Ovine) to 60 months.

In 2018, Pfizer, Inc. worked with the U.S. FDA to extend the expiration date of Antivenin’s Lot No. L67530 for an additional 12 months.

Key players operating in the anti-venom market include, Haffkine Bio-Pharmaceutical Corporation Ltd., Vins Bioproducts Limited, BTG plc., Laboratorios Silanes, CSL Limited, Pfizer, Inc., Merck & Co., Inc., Bharat Serums and Vaccines Limited, Incepta Pharmaceuticals Ltd., and Rare Disease Therapeutics Inc.

Table of Contents

  1. Research Objective and Assumption
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, By Animal Type
      • Market Snippet, By Anti-venom Type
      • Market Snippet, By Distribution Channel
      • Market Snippet, By Region
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
    • Impact Analysis
    • Novel Product Launch/Approval
    • PEST Analysis
    • Awareness Strategy
    • Reimbursement Scenario
    • Anti-venom Shortage
    • Clinical Trial Analysis
    • Countries with High Number of Incidents of Snake Bites
    • Market Entry Challenges
  4. Global Anti-venom Market, By Animal Type, 2016 – 2026 (US$ Mn)
    • Introduction
      • Market Share Analysis, 2018 and 2026 (%)
      • Y-o-Y Growth Analysis, 2017–2026
      • Segment Trends
    • Snake
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2026, (US$ Mn)
    • Scorpion
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2026, (US$ Mn)
    • Spider
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2026, (US$ Mn)
    • Others
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2026, (US$ Mn)
  5. Global Anti-venom Market, By Anti-venom Type, 2016 – 2026 (US$ Mn)
    • Introduction
      • Market Share Analysis, 2018 and 2026 (%)
      • Y-o-Y Growth Analysis, 2017–2026
      • Segment Trends
    • Monovalent
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2026, (US$ Mn)
    • Polyvalent
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2026, (US$ Mn)
  6. Global Anti-venom Market, By Distribution Channel, 2016 – 2026 (US$ Mn)
    • Introduction
      • Market Share Analysis, 2018 and 2026 (%)
      • Y-o-Y Growth Analysis, 2017–2026
      • Segment Trends
    • Hospital
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2026, (US$ Mn)
    • Retail Pharmacies
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2026, (US$ Mn)
    • Others
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2026, (US$ Mn)
  7. Global Anti-venom Market, By Region, 2016 – 2026 (US$ Mn)
    • Introduction
      • Market Share Analysis, By Region, 2018 and 2026 (%)
      • Y-o-Y Growth Analysis, For Regions, 2017–2026
    • North America
      • Market Size and Forecast, By Animal Type, 2016 – 2026 (US$ Mn)
      • Market Size and Forecast, By Anti-venom Type, 2016 – 2026 (US$ Mn)
      • Market Size and Forecast, By Distribution Channel, 2016 – 2026 (US$ Mn)
      • Market Size and Forecast, By Country, 2016 – 2026 (US$ Mn)
        • U.S.
        • Canada
    • Europe
      • Market Size and Forecast, By Animal Type, 2016 – 2026 (US$ Mn)
      • Market Size and Forecast, By Anti-venom Type, 2016 – 2026 (US$ Mn)
      • Market Size and Forecast, By Distribution Channel, 2016 – 2026 (US$ Mn)
      • Market Size and Forecast, By Country, 2016 – 2026 (US$ Mn)
        • U.K.
        • Germany
        • Italy
        • France
        • Spain
        • Russia
        • Rest of Europe
    • Asia Pacific
      • Market Size and Forecast, By Animal Type, 2016 – 2026 (US$ Mn)
      • Market Size and Forecast, By Anti-venom Type, 2016 – 2026 (US$ Mn)
      • Market Size and Forecast, By Distribution Channel, 2016 – 2026 (US$ Mn)
      • Market Size and Forecast, By Country, 2016 – 2026 (US$ Mn)
        • China
        • India
        • Japan
        • ASEAN
        • Australia
        • South Korea
        • Rest of APAC
    • Latin America
      • Market Size and Forecast, By Animal Type, 2016 – 2026 (US$ Mn)
      • Market Size and Forecast, By Anti-venom Type, 2016 – 2026 (US$ Mn)
      • Market Size and Forecast, By Distribution Channel, 2016 – 2026 (US$ Mn)
      • Market Size and Forecast, By Country, 2016 – 2026 (US$ Mn)
        • Brazil
        • Mexico
        • Argentina
        • Rest of Latin America
    • Africa
      • Market Size and Forecast, By Animal Type, 2016 – 2026 (US$ Mn)
      • Market Size and Forecast, By Anti-venom Type, 2016 – 2026 (US$ Mn)
      • Market Size and Forecast, By Distribution Channel, 2016 – 2026 (US$ Mn)
      • Market Size and Forecast, By Country, 2016 – 2026 (US$ Mn)
        • Central Africa
        • South Africa
        • North Africa
    • Middle East
      • Market Size and Forecast, By Animal Type, 2016 – 2026 (US$ Mn)
      • Market Size and Forecast, By Anti-venom Type, 2016 – 2026 (US$ Mn)
      • Market Size and Forecast, By Distribution Channel, 2016 – 2026 (US$ Mn)
      • Market Size and Forecast, By Country, 2016 – 2026 (US$ Mn)
        • GCC
        • Israel
        • Rest of Middle East
  8. Competitive Landscape
    • Heat Map Analysis
    • Company Profiles
  9. Section
    • References
    • Research Methodology
    • About us and Sales Contact

About Us:

Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients to achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having an office at global financial capital in the U.S. and sales consultants in the United Kingdom and Japan. Our client base includes players from across various business verticals in over 150 countries worldwide. We pride ourselves in catering to clients across the length and width of the horizon, from Fortune 500 enlisted companies to not-for-profit organizations, and startups looking to establish a foothold in the market. We excel in offering unmatched actionable market intelligence across various industry verticals, including chemicals and materials, healthcare, and food & beverages, consumer goods, packaging, semiconductors, software and services, Telecom, and Automotive. We offer syndicated market intelligence reports, customized research solutions, and consulting services.

Contact:

Coherent Market Insights
1001 4th Ave, #3200 Seattle, WA 98154, U.S.
Email: sales@coherentmarketinsights.com
United States of America: +1-206-701-6702
United Kingdom: +44-020-8133-4027
Japan: +050-5539-1737
India: +91-848-285-0837

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