Research Nester published a report titled “Anti-Venom Market: Global Demand Analysis & Opportunity Outlook 2030” which delivers detailed overview of the global anti-venom marketin terms of market segmentation by species, anti-venom type, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global anti-venom market is anticipated to attain a CAGR of ~7.5% over the forecast period, i.e., 2022-2030. The market is segmented on the basis of species into snake, scorpion, spiders, and others, out of which, the snake segment is anticipated to gain the largest market share over the forecast period. This can be attributed to the growing cases of snakebites across the world, backed by presence of several species of venomous snakes. According to the report by World Health Organization (WHO), around 81,000 – 138,000 deaths are caused by snakebites. Moreover, the venom of majority snakes is extremely lethal, unlike spiders and scorpions, which is why, the researchers are focused on developing anti-venoms for snake bites. Such factors are estimated to propel the segment growth.
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The global anti-venom market is estimated to grow on the back of rising cases of envenoming and deaths caused by venom amongst humans. Anti-venom is developed to successfully combat the effects of a venom, which is expected to primarily drive the market growth. Moreover, the rising awareness amongst the masses regarding medical treatment of envenoming, and increasing investment in medical R&D activities are estimated to boost the market growth.
Regionally, the global anti-venom market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in the Asia Pacific region is estimated to gain the largest market share over the forecast period owing to the growing number of snakebite incidences in the region. According to the data by the WHO, in Asia, over 2 million people are envenomed by snakes every year. The presence of large spread of forest area, hot and humid climate of the region, and large population living in rural areas, are some of the factors contributing to the growing cases of envenoming in the region. This is projected to boost the regional market growth.
The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
Growing Incidences of Snake Bites to Fuel the Market Growth
According to the WHO, around 5.4 million people suffer from snake bites each year, out of which around 2.7 million are envenomed.
Snakebites are the most common cause of envenoming across the globe. The rising cases of envenoming is estimated to boost the demand for anti-venom for treatment, which in turn, is estimated to boost the market growth. Moreover, the growing research activities to develop new and more efficient anti-venoms, backed by growing investment in healthcare sector, are anticipated to boost the market growth.
However, lack of regulatory norms for anti-venom manufacturing is expected to operate as key restraint to the growth of global anti-venom market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global anti-venom market which includes company profiling of CSL Limited, Haffkine Bio-Pharmaceutical Corporation Limited, Boston Scientific Corporation, Flynn Pharma Ltd (Micropharm), Medtoxin Venom Laboratories, Merck & Co. Inc., Pfizer Inc., Rare Disease Therapeutics Inc., and Amgen Inc. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global anti-venom marketthat will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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