Anti-Venom Market Expected to Increase at a CAGR 6.5 % through 2017 to 2023

Market Research Future adds the “Anti-Venom Market Research Report – Forecast to 2023” report to their unique collection. It is estimated that the Anti-Venom market is expected to grow at a CAGR 6.5% during the forecast period of 2017–2023.

Market Scenario

Anti-venom is made up of hyperimmune globulins and various other proteins extracted from the serum of various animals. In the process animals have been immunized with the venom of a snake, and then proteins are extracted from it. Anti-venom is currently the cornerstone of therapy for the victims of venomous snake bites and has reduced the mortality of this condition. It can be species-specific, regional, or polyvalent. For instance, anti-venom directed against coral snake venom is regenerated by immunizing horses with venom from the eastern coral snake i.e. Micrurus fulvius. The use of anti-venom is associated with various adverse reactions and so is given to only those victims who develop local, systemic, or laboratory evidence of envenoming. The use of epinephrine, corticosteroids, and antihistamines is also recommended before anti-venom administration as it helps to reduce the occurrence and severity of acute or delayed hypersensitivity reactions which may occur in 20 to 90% of cases.

According to the World Health Organization (WHO), snake antivenom immunoglobulins is the only specific treatment for envenoming by snakebites. It is also estimated that nearly 4.5 to 5.4 million people are bitten by snakes in a year, and around 1.8 to 2.7 million out of them develop clinical illness after a snakebite.

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It is noted that the increasing cases of snake bites and increasing government funding for R&D are the key factors driving the anti-venom market.

Various other factors such as the increasing patient pool, unmet medical needs, increasing awareness about antivenoms, enhancing regulatory framework, and increasing government assistance are continuously contributing to the growth of the global anti-venom market.

 

It is estimated that the Anti-Venom market is expected to grow at a CAGR 6.5% during the forecast period of 2017–2023.

Intended Audience

  • Pharmaceutical Companies
  • Research and Development (R&D) Companies
  • Diagnostic Laboratories
  • Government Research Institutes
  • Academic Institutes and Universities

Segmentation

The global anti-venom market is segmented by type, type of species, mode of action, product type, and end-user.

On the basis of type, the global anti-venom market is classified as polyvalent heterologous antivenom, monovalent heterologous antivenom, homologous antivenom, and small molecule anti-toxins.

On the basis of type of species, the global anti-venom market is classified as snakes, scorpions, spiders, and others. The snake segment is further classified as common cobra, common krait, Russell viper, and others.

On the basis of mode of action, the global anti-venom market is classified as cytotoxic, neurotoxic, haemotoxic, cardiotoxic, myotoxic, and others.

On the basis of product type, the global anti-venom market is classified as snake anti-venom, scorpion anti-venom, spider anti-venom, and others.

On the basis of end-user, the global anti-venom market is segmented into hospitals, clinics, ambulatory surgical centers, and others.

Regional Analysis

The Americas dominates the anti-venom market owing to the increasing cases of snake bites, and scorpion bites and high healthcare expenditure.

Europe holds the second position in the anti-venom market. The financial support by the government towards research and development and improvement in reimbursement scenario are expected to drive the European anti-venom market. According to the data suggested by Eurostat, it is observed that among the EU Member States, the highest value of healthcare expenditure was recorded in Germany in 2014 i.e. EUR 321 billion which is further followed by France with EUR 237 billion and United Kingdom with EUR 223 billion. In 2016, the R&D expenditure in the pharmaceutical industry was EUR 35000 million, suggested by the European Federation of Pharmaceutical Industries and Association.

Asia Pacific is the fastest growing anti-venom market owing to a huge patient pool and increasing advancements in pharmaceuticals. According to the Indian Brand Equity Foundation (IBEF), in 2016 the generics market of India stood at USD 26.1 billion. As per the statistics suggested by the World Health Organization (WHO), it has been estimated that around 2.8 million people are bitten by snakes, and nearly 46 900 people die from snakebite every year.

The Middle East and Africa holds the lowest share of the global market due to slow development, lack of technical knowledge, and poor medical facilities.

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Key players

Some of the key players in the global anti-venom market are Allison Medical, Inc., Artsana S.p.a., B. Braun Melsungen AG, Becton, Dickinson and Company, Boston Scientific Corporation, Hamilton Company, Hill-Rom, Hu-Friedy Mfg. Co., LLC, Johnson & Johnson Services, Inc, Medline Industries, Inc., Medtronic plc, Novo Nordisk A/s, Owen Mumford, Ltd., Roboz Surgical Instrument, Smiths Medical, Stryker Corporation, Terumo Corporation, Thermo Fisher Scientific, UltiMed, Inc., Ypsomed Holding AG, and others.

 

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