The Global Anti-Venom Market Growth Accelerated by Increased Prevalence of Snake Bites


 The anti-venom market consists of pharmaceutical products used for counteracting the effects of animal venom, mainly snake bites. Anti-venom works by neutralizing the toxins present in the venom. With growing population in rural areas across developing nations, the instances of venomous snake bites have risen significantly. Furthermore, lack of proper medical infrastructure in remote areas has made people more vulnerable to snake bites. The global anti-venom market is estimated to be valued at US$ 9229.16 Mn in 2023 and is expected to exhibit a CAGR of 6.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.


Market key trends:
The increased prevalence of snake bites due to growing population in rural areas of developing nations is a key driver augmenting the anti-venom market growth. According to the World Health Organization, about 5 million people are bitten by snakes annually across the world, resulting in 2.7 million envenomings and up to 138,000 deaths. Tropical countries in Africa, Asia, Latin America, as well as Australia have a significant burden. With rising instances of snake bites in these regions, the demand for anti-venom is expected to grow substantially over the forecast period.
Segment Analysis

The global anti-venom market is segmented based on Type, species, mode of action and geography. By type, the polyvalent anti-venom segment is dominating the market and is expected to continue its dominance over the forecast period. This is because polyvalent anti-venom provides immunity against venom from multiple species, making it a more preferred treatment option.

By species, snake anti-venom is the largest segment currently. Snakes are one of the most common causes of venomous bites globally and anti-venom is the only effective treatment available for envenomation.

Key Takeaways

The global anti venom market is expected to witness high growth over 2023 to 2030. The market size is projected to grow from US$ 9229.16 Mn in 2023 to XX Mn by 2030, registering a CAGR of 6.7% during the forecast period.

Regional analysis

South Asia is currently the largest as well as the fastest growing regional market for anti-venom. Countries like India, Sri Lanka and Bangladesh report a large number of venomous bites annually due to snake bites. Wide availability and comparatively low costs of anti-venom treatment are supporting market growth. North America is another major regional market driven by growing spending on healthcare and rising cases of scorpion sting envenomation in regions of America.

Key players

Key players operating in the anti venom market are Bharat Serums and Vaccines Limited (BSV), Boehringer Ingelheim International GmbH, Boston Scientific Corporation, CSL Limited, Haffkine Bio-Pharmaceutical Corporation Limited, Incepta Pharmaceuticals Limited, and Rare Disease Therapeutics Inc. These players are focused on expanding their geographical presence and launch new product variants to strengthen their market share.

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