Anti-Venom Market recent report by Market Research Future (MRFR) predicts the global anti-venom market value will be expanding with a healthy CAGR of 6.5% over the forecast period (2017–2023). 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.
The prominent reason behind the strong growth of the anti-venom market is the growing demand for anti-venom treatment, as it is the only authorized treatment for snake bite, without any alternative treatment available.
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.
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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.
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.
Despite these drivers, there are some setbacks associated with the global anti-venom market. The high cost of available anti-venom, strict FDA regulations, difficult preparation of anti-venoms, and poor healthcare system in low- and middle-income countries may hinder the growth of the market to a considerable extent.
Industry Update
February 2019 – Kenya’s Ministry of Health is set to produce anti-snake venom for ensuring a sustainable supply, in addition to developing few policies, guidelines as well as processes for identifying cheaper high-quality brands for licensing. The products will be procured and distributed to public health facilities by the country’s medical supplies authority.
MAJOR TABLE OF CONTENT FOR ANTI-VENOM MARKET RESEARCH REPORT – FORECAST TO 2023:
Chapter1. Report Prologue
Chapter2. Market Introduction
2.1 Definition
2.2 Scope Of The Study
2.2.1 Research Objective
2.2.2 Assumptions
2.2.3 Limitations
Chapter3. Research Methodology
3.1 Introduction
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
Chapter4. Market Dynamics
4.1 Drivers
4.2 Restraints
4.3 Opportunities
4.4 Challenges
4.5 Macroeconomic Indicators
4.6 Technology Trends & Assessment
TOC Continued…!
LIST OF TABLES
Table 1 Anti-Venom Industry Synopsis, 2017–2023
Table 2 Anti-Venom Market Estimates & Forecast, 2017–2023, (USD Million)
Table 3 Anti-Venom Market, By Region, 2017–2023, (USD Million)
Table 4 Anti-Venom Market, By Type, 2017–2023, (USD Million)
Table 5 Anti-Venom Market, By Type Of Species, 2017–2023, (USD Million)
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LIST OF FIGURES
Figure 1 Research Process
Figure 2 Segmentation For Anti-Venom Market
Figure 3 Segmentation Market Dynamics For Anti-Venom Market
Figure 4 Global Anti-Venom Market Share, By Type 2016
Figure 5 Global Anti-Venom Market Share, By Type Of Species 2016
Figure 6 Global Anti-Venom Market Share, By Mode Of Action 2016
Continued…!
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