Anti-Venom Market Report by Type (Polyvalent Anti-Venom and Monovalent Anti-Venom), Animal Type (Wheat Snake, Scorpion, Spider, and Others), End User (Clinics, Hospitals, Ambulatory Surgical Centers, and Others), Region and Company Analysis 2024-2032

Global Anti-Venom Market Analysis

Global Anti-Venom Market, valued at US$ 1.11 Billion in 2023, is projected to grow at a CAGR of 6.46% between 2024 and 2032, reaching an estimated worth of US$ 1.95 Billion by 2032.

The demand for anti-venom is progressively growing as venomous snakebites pose an international public health issue. Anti-venom, derived from animal antibodies, is the primary treatment for snakebite envenomation, correctly neutralizing venom toxins. Access to powerful anti-venom is essential, predominantly in rural areas of Africa, Asia, and Latin America. However, challenges such as insufficient distribution, affordability, and varying efficacy of available remedies underscore the pressing need for stepped-forward accessibility and development of novel anti-venom formulations.

Anti-Venom Market Trends

The growing number of snakebite sufferers is crucial in improving anti-venom market growth for remedies. According to the World Health Organization, 5.4 million humans worldwide are bitten by snakes each year, resulting in 1.8 to 2.7 million cases of envenomation. Furthermore, approximately 81,410 to 137,880 people die yearly because of snakebites, with three times as many going through amputations and everlasting disabilities. Venomous snakebites can result in paralysis, deadly hemorrhage, kidney failure, tissue damage, and limb amputation, mainly affecting agricultural workers and children, who frequently experience more severe results due to their smaller body mass.

The governments, non-profit companies, and healthcare providers strive to enhance access to anti-venom in excessive-risk areas, driving the global anti-venom market forward. For example, the World Health Organization (WHO) has installed a Technical and Scientific Advisory Group to formulate public-sector Target Product Profiles (TPPs) for addressing snakebite envenoming. Supported by the Drugs for Neglected Disease Initiative (DNDi), this initiative guarantees access to safe, effective, inexpensive, and easy treatments for all sufferers requiring them.

Moreover, significant investment in research and development (R&D) endeavors toward creating modern anti-venom merchandise extensively affects the expansion of the anti-venom market. Notably, findings from the latest studies by the Liverpool School of Tropical Medicine in 2023 display promising breakthroughs in the anti-venom domain. Their observation shows that novel drug combinations hold the promise of protecting snakebite sufferers from the severe and life-changing consequences of venom toxicity, thereby fostering optimism for more significant treatment outcomes.

Further, introducing diverse speedy snake venom detection kits and using quick enzyme immunoassays to perceive snake venom through samples from bite sites, urine, plasma, blood, or different physical fluids is driving the market boom. The mergers, acquisitions, multiplied investments, and collaborations with other companies also bolster the worldwide market. For instance, in August 2022, Bharat Serums and Vaccines Ltd. (BSV) announced its partnership with the 'Evolutionary Venomics Lab' at the Indian Institute of Science (IISc) Bangalore to develop region-specific antivenoms for snakebites in India.

Polyvalent Anti-Venom segment with multiple uses may become the dominant force in the global anti-venom market

The polyvalent segment might lead the anti-venom market with its extensive-spectrum efficacy towards more than one snake species. These healing materials neutralize pollutants from numerous snakes, providing versatile safety. They effectively treat snakebite sufferers and are designed to be effective towards more than a few venoms. Healthcare providers and patients opt for polyvalent anti-venom because it's more convenient and price-effective, decreasing the need for multiple remedies.

India is expected to have potential significance in the global anti-venom market

The nation Is predicted to play a enormous role inside the global anti venom market due to its excessive prevalence of snakebites and numerous snake species. The World Health Organization (WHO) estimates that every 12 months, approximately five million snakebites arise in India, resulting in up to 2.7 million envenomings and 81,000 to 138,000 deaths. The 'big 4' snake species, consisting of the common krait, Indian cobra, Russell's viper, and saw-scaled viper, account for approximately 90% of snakebites in India. Since snakebites are common in rural regions, there's a considerable call for anti-venom treatments. Additionally, Indian pharmaceutical companies and research institutions are operating on initiatives to enhance anti-venom production and accessibility, similarly contributing to India's potential significance within the international anti venom market.

Global Anti-Venom Market Company News

The companies that make up the global anti-venom market include Bharat Serums and Vaccines Limited (BSV), Boehringer Ingelheim International GmbH, Boston Scientific Corporation, CSL Limited, Merck & Co. Inc., Merck KGaA, Pfizer Inc., and Haffkine Bio-Pharmaceutical Corporation Limited.

In March 2024 - India's Union Health Ministry launched a National Action Plan, using a One Health approach to halve snakebite deaths by 2030.
In April 2023 - Terumo India, a subsidiary of Terumo Corporation, launched a unique program for Cathlab Directors in partnership with Executive Education at the Indian School of Business, a top-ranked business school. The program aims to improve the quality of care and efficiency in Cathlabs across India.
In July 2022 - The Antivenom Research and Development Centre (AVRDC) was established at the Institute of Bioinformatics and Applied Biotechnology (IBAB) in Bengaluru's Helix Biotech Park, Electronics City, to enhance antivenom production.

Type – Market breakup in 2 viewpoints:

1.    Polyvalent Anti-Venom
2.    Monovalent Anti-Venom

Animal Type – Market breakup in 4 viewpoints:

1.    WheatSnake
2.    Scorpion
3.    Spider
4.    Others 

End-User – Market breakup in 4 viewpoints:

1.    Clinics
2.    Hospitals
3.    Ambulatory Surgical Centers
4.    Others

Country – Market breakup of 25 Countries:

1.    North America

1.1    United States
1.2    Canada

2.    Europe

2.1    France
2.2    Germany
2.3    Italy
2.4    Spain
2.5    United Kingdom
2.6    Belgium
2.7    Netherlands
2.8    Turkey

3.    Asia Pacific

3.1    China
3.2    Japan
3.3    India
3.4    South Korea
3.5    Thailand
3.6    Malaysia
3.7    Indonesia
3.8    Australia
3.9    New Zealand

4.    Latin America

4.1    Brazil
4.2    Mexico
4.3    Argentina

5.    Middle East & Africa

5.1    Saudi Arabia
5.2    UAE
5.3    South Africa

All the Key players have been covered from 3 Viewpoints:

•    Overview
•    Recent Development
•    Revenue Analysis

Company Analysis:

1.    Bharat Serums and Vaccines Limited (BSV)
2.    Boehringer Ingelheim International GmbH
3.    Boston Scientific Corporation
4.    CSL Limited
5.    Merck & Co. Inc.
6.    Merck KGaA
7.    Pfizer Inc.
8.    Haffkine Bio-Pharmaceutical Corporation Limited

Report Details: