Anti Venom Market | Current Analysis by Market Share

Anti Venom Market Synopsis

Anti Venom Market Size Was Valued at USD  1.23 Billion in 2023, and is Projected to Reach USD 2.74 Billion by 2032, Growing at a CAGR of 9% From 2024-2032.

Anti-venom is a biological solution used to counter venomous attacks by helping to eradication toxins in the substance. It is made from blood serum of animals, which has been immunized with low doses of venom and where the antibodies obtained are purified for pharmaceutical use. The global anti-venom market is growing at a fairly constant rate due to the rise in trends in bite and sting events by venomous animals in areas like Asia-Pacific, Africa, and Latin America. These areas expect more frequent cases of envenoming because of increased density of venomous snakes, low availability of prompt medical facilities and meager knowledge of the effectiveness of early treatment. Since more than over 5.4 million snakebites occur every year, and in the vicinity of 2.7 million of these result in envenomation, the requirement for obtaining anti-venom remains extremely high for rescuing people who live in rural and ill-developed areas. Local and centralised governments together with other international health agencies such as the WHO are encouraging the manufacture and availability of anti-venoms in these areas of high prevalence.

On the commercial front, the anti-venom market is comprised by local and multinational pharmaceuticals companies. These players involved in the search, innovation, and manufacture of polyvalent and monovalent anti-sera to negotiate given venomous stings. Bivalent and polyvalent formulation forms of anti-venoms are preferred in day to day practice and globally due to their multiple species applicability and where species bite cannot be definitively ascertained. However, mucor alerts, incremental cost pressures, better access to health care, and increased perception of envenomation treatment are also fueling growth in developed nations including North America and Europe. Besides this the concentration level on safety and efficacy standards to manufacture anti-venom is also providing chances for technological developments and innovations.

Anti Venom Market Trend Analysis

Rising Demand for Polyvalent Anti-Venom

• There has been an increased demand for polyvalent anti-venoms because of variability of envenomation in regions inhabited by various species of venomous animals. These are anti-venoms that are produced to treat more than one type of snake venom Since it may not always be easy for the healthcare provider in a given region to identify the snake that bit a patient and in regions where SEs are diverse, these polyvalent anti-venoms are of practical use. Thus, it makes envenomation treatment less specific for the certain species and quickens the process, which is vital for intense envenomation.
• In areas such as the African and Southeast Asia, due to the abundant presence of several venomous species, polyvalent anti-venoms are being used with the aim of improving the treatment results. It is so because governments and health organizations are investing in polyvalent anti-venoms so that there is a more massive and efficient treatment in cases of envenomation. This trend will be expected to persist as the value of such treatments increases with the improving healthcare facilities in the developing world and challenging access to complex medical care.

Expansion into Emerging Markets

• Another huge opportunity that is visible for the anti-venom market is that it needs to further explore the emerging markets that include Africa, South East Asia and Latin America. These regions record the highest number of envenoming events, but anti-venom remedy is rarely available because of a high production cost, transport constraints, and general dearth of health facilities. To close this gap, international health organizations and government bodies are now partnering to fund new low cost anti-venoms to be produced and to increase availability in rural areas.
• New developing markets are to a considerable extent promising for many pharmaceuticals companies to set the unit or develop cooperatives with local counterparts with a purpose of improving the accessibility of anti-venom. Governments are also churning out incentives in a bid to encourage local production and thus wean the market of importation hence, creating propitious market growth environment. Such opportunity is crucial to companies that can deliver cheap and easily accessible anti-venoms to these regions to capture a large market share.

Anti Venom Market Segment Analysis:

Anti Venom Market Segmented based on  Type, Species, Action, and End User.

By   Type, Polyvalent segment is expected to dominate the market during the forecast period

• According to the type, this market can be classified as polyvalent, monovalent and others. Bispecific anti-venoms that inhibit venom of different species are preferred in the market since the world has various types of vipers. Their versatility in managing all sorts of envenomations and the ability to use them in emergency situations regardless of the biting species, makes them suitable for use in rural or low resourced settings where identification of the snake or other venomous creatures may be very challenging. Thus, polyvalent anti-venoms seem to have taken their place in the countries where venomous animals are most populous, adding to their large share in the market.
• In contrast, monovalent anti-venoms are species-specific and are given in situations where the culprit venomous species is known with almost certainty. Monovalent anti venoms are effective and potent for specific bivalent therapy, yet their specificity hampers their usage in scenarios where identification is accurate. This segment is expected to evolve at a moderate rate in developed parts of the world that have effective healthcare industries.

By Species , Snake segment held the largest share in 2023

• The market is further categorised based on species such as snake, spider, scorpion and others. Out of these, the anti-venom for snakebites has the largest market share because snake bites are very common and the effects of envenomation widespread in Asian and African continent. snake bites are the leading causes of envenomation and also contribute to the major percentage of deaths hence explaining why there is so much of it being called for.
• Snake bite antivenom and antivenom for spiders and scorpions are also gradually becoming more popular, particularly in areas with these species. This true, for instance, in Australia and Brazil where the risk of scorpion stings or spider bites is relatively high, so it has stimulated the creation of species-vectored anti-venoms. This segment is expected to grow given the improvements in capacity of healthcare institutions to manage these less frequent, but potentially fatal, snake bites.

Anti Venom Market Regional Insights:

Asia Pacific is Expected to Dominate the Market Over the Forecast period

• The region that spearheads the consumption of anti-venom globally is the Asia-Pacific region especially because of frequent snake bites in the region. Employment in the manufacturing This is especially true in the Asian region where countries like India, Bangladesh and Indonesia sustains some of the highest figures of snakebite envenomation to warrant huge demands for anti-venoms. Bearing in mind that the large population of the region is rural and consequently vulnerable to attacks by venomous species in their day to day activities, there is a dire need for affordable anti-venom treatments.
• The government had launched some policies and the participation of the international organizations in the production as well as supplying of antivenom has become vital in enhancing stocks. Thanks to higher healthcare literacy and the tendency toward greater investment in healthcare technologies, the Asia-Pacific market remains the leaders in future years.

Active Key Players in the Anti Venom Market

• Pfizer Inc. (USA)
• CSL Limited (Australia)
• Merck & Co., Inc. (USA)
• Haffkine Bio-Pharmaceutical Corporation (India)
• Bharat Serums and Vaccines Limited (India)
• Instituto Bioclon (Mexico)
• Vins Bioproducts Limited (India)
• MicroPharm Limited (UK)
• Rare Disease Therapeutics, Inc. (USA)
• BTG plc (UK)
• Incepta Vaccine Ltd. (Bangladesh)
• Protherics PLC (UK)
• Instituto Vital Brazil (Brazil)
• Zoetis Inc. (USA)
• Shanghai Serum Bio-Technology Co., Ltd. (China) and Others Key Player

Key Industry Developments in the Anti Venom Market

• In April 2023, Terumo India, the Indian subsidiary of Terumo Corporation (TSE 4543), has introduced a first-of-its-kind program for Cathlab Directors in collaboration with Executive Education at the Indian School of Business, a ly top-ranked business school, to raise the quality of care and efficiencies in Cathlabs across India.
• In March 2022, Smiths Medical, a trusted name in the medical equipment industry, has released their new acapella® choice blue vibratory PEP therapy system. Cystic fibrosis, chronic obstructive pulmonary disease, lung illness with secretory issues, and atelectasis patients can all benefit from using Acapella® to help remove secretions from the lungs.