The global anti-venom market reached a value of US$ 1,023.40 Million in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 1,544.40 Million by 2027, exhibiting a CAGR of 6.80% during 2022-2027.
Anti-venom, also known as anti-venin, refers to a purified antibody or medicine that prevents or reverses the snakebite envenoming effects to minimize the risks of paralysis, loss of limb, or even death in patients. It is obtained from the antibodies produced by various animal species, such as snakes, box jellyfish, stonefish, redback and funnel-web spiders. It also helps neutralize the venom to stop it from binding to body tissues, causing severe allergic reactions, blood-clotting, kidney damage, muscle injury, and nervous system problems.
Base Year: 2021
Forecast Year: 2022-2027
Anti-Venom Market Trends and Drivers:
The global anti-venom market is primarily driven by the increasing number of deaths due to venomous bites and stings, especially in rural areas. Additionally, several favorable initiatives undertaken by the governing and non-governing agencies of various countries to spread awareness regarding snakebite envenoming and available treatment options have augmented the product demand.
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Furthermore, the launch of snake venom detection kits (SVDKs) with a rapid enzyme immunoassay for in vitro detection and immunological identification of snake venom in samples from bite sites, blood, plasma, urine, or other tissues and body fluids has accelerated the product adoption rate.
Other factors, including the rising adoption of polyvalent anti-venoms, improving healthcare infrastructure, technological advancements, product innovations, and ongoing research and development (R&D) activities, are also anticipated to catalyze the market growth.
Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Anti-Venom Market 2022-2027 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Bharat Serums and Vaccines Limited (BSV), Boehringer Ingelheim International GmbH, Boston Scientific Corporation, CSL Limited, Haffkine Bio-Pharmaceutical Corporation Limited, Incepta Pharmaceuticals Limited, Merck & Co. Inc., Merck KGaA, MicroPharm Limited, Pfizer Inc. and Rare Disease Therapeutics Inc.
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The report has segmented the market on the basis of region, species, anti-venom type, mode of action and end user.
Breakup by Species:
Breakup by Anti-venom Type:
Breakup by Mode of Action:
Breakup by End User:
Breakup by Region:
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