Growth Opportunities and Trends in the Antivenom Market: Key Insights for 2025-2034
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How has the antivenom market size evolved in recent years?
The size of the antivenom market has seen robust growth lately. Predictions indicate it will expand from $1.92 billion in 2024 to $2.06 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 7.4%. Numerous factors have contributed to this growth in the historical period, including a high occurrence of snakebites, the geographical dispersion of venomous snakes, limited medical facilities, the prevalence of agricultural and rural activities, as well as several public health campaigns.
What are the predictions for the antivenom market size in the coming years?
Over the coming years, the antivenom market is predicted to experience robust expansion. The market is projected to attain a size of $2.74 billion by 2029, expanding at a compound annual growth rate (CAGR) of 7.4%. The surge projected for the forecast period is attributable to factors such as the effect of climate change on snake environments, population expansion in areas prone to snake encounters, enhancements in antivenom solutions, initiatives for global health security, and collective efforts for the evolution of antivenom. Major trends driving the growth during the forecast period comprise the integration of data analytics, emphasis on education and training, forming strategic partnerships to increase manufacturing capacity, improvements in regulatory guidelines, and the research on emerging therapeutic targets.
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What key factors are fueling the growth of the antivenom market?
The antivenom market is predicted to grow due to the increasing number of snake bites. Snake bites, which are injuries due to a venomous snake’s toxins, can lead to deadly diseases. The use of antivenom as an early and adequate therapeutic treatment can prevent or even negate most symptoms caused by snakebite poisoning. For example, in September 2023, as per the reports from the World Health Organization (WHO), a Switzerland-based UN entity tasked with public health, it was estimated that around 5.4 million people worldwide are bitten by snakes annually, leading to 1.8 to 2.7 million envenoming incidents. Each year, about 81,410 to 137,880 folks succumb to snake bites. The goal is to reduce the mortality and disability inflicted by snakebite poisoning by 50% by the year 2030. Hence, the rising number of snake bites is fuelling the expansion of the antivenom market.
How is the global antivenom market divided into key segments?
The antivenom market covered in this report is segmented –
1) By Type: Monovalent, Polyvalent, Other Types
2) By Animal: Snakes, Scorpions, Spiders, Other Animals
3) By Mode of Action: Cytotoxic, Neurotoxic, Hemotoxic, Cardiotoxic, Myotoxic, Other Modes Of Action
4) By End User: Hospitals, Clinics, Ambulatory Surgical Centers, Other End-Users
Subsegments:
1) By Monovalent: Specific Antivenoms For Individual Snake Species, Specific Antivenoms For Individual Venom Types
2) By Polyvalent: Broad-Spectrum Antivenoms, Regional Polyvalent Antivenoms
3) By Other Types: Antivenoms For Other Venoms, Recombinant Antivenoms, Antivenom For Rare Venoms
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Who are the key firms paving the way for growth in the antivenom market?
Major companies operating in the antivenom market include Pfizer Inc., Commonwealth Serum Laboratories, Merck KGaA, Incepta Pharmaceuticals Limited, Bharat Serums and Vaccines Limited, Rare Disease Therapeutics Inc., Vins Bioproducts Limited, Boehringer Ingelheim International GmbH, Boston Scientific Corporation, Haffkine Bio-Pharmaceutical Corporation Limited, MicroPharm Limited, Latoxan SAS, Serum Institute of India Pvt. Ltd., BSV Group, Shanghai Serum Biotech Co Ltd., British Technology Group International, South African Vaccine Producers, Bioclon Institute, Inosan Biopharma, Instituto Bioclon S.A. de C.V., F. Hoffmann-La Roche AG, Protherics Inc., Sanofi Pasteur SA, Venom Supplies Pty Ltd, Instituto Clodomiro Picado, Laboratorios Silanes S.A. de C.V., Instituto Biológico Argentino S.A., Instituto Vital Brazil, Instituto Butantan, Instituto Nacional de Producción de Biológicos, Instituto de Biotecnología de la UNAM
Which trends are expected to transform the antivenom market?
Companies playing a significant role in the antivenom market are fostering cutting-edge technology, including public-interest target products, to increase the effectivity, security, and availability of antivenoms. This is in an attempt to enhance patient recovery and lessen the worldwide impact of snakebite poisoning. Public-interest target products refer to healthcare advancements or medical commodities, created primarily to cater to distinct public health necessities, especially in disadvantaged or at-risk communities. For example, in June 2023, a collaboration came to fruition between Bharat Serums and Vaccines Ltd., a biopharmaceutical company based in the US, and the Indian Institute of Science. Their partnership seeks to develop antivenoms for regionally specific snakebites in India, targeting the amplification of treatment efficacy and mitigation of the public health consequences of snakebites in the affected areas.
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What regions are contributing significantly to the growth of the antivenom market?
North America was the largest region in the global antivenom market size in 2024.Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the antivenom market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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