Anti-Venom Market Growth Accelerated by Rise in Snake Envenoming Cases


 Anti-venoms are biological products that are used to neutralize the effects of animal venom. They provide timely treatment and prevent fatalities caused by snakebites. The need for anti-venom is increasing in rural and tropical regions due to rising cases of snake envenoming. As per WHO estimates, there are around 2.7 million cases of snakebites every year resulting in more than 100,000 deaths. 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 increasing cases of snakebites, especially in rural areas of South East Asia, Sub-Saharan Africa, India and Latin America is a key factor contributing to the growth of the anti-venom market. Limited access to proper healthcare facilities and lack of trained professionals in these regions has resulted in large number of deaths annually. Manufacturers are focusing on developing affordable and effective anti-venoms that can be stocked and administered easily during emergency situations in remote locations. New technologies and production techniques are also being explored to enhance the efficacy and stability of anti-venoms at affordable costs. This will help expand access and prevent fatalities caused due to snakebites.

Segment Analysis
The global anti-venom market is segmented by type, species, distribution channel, and geography. By type, the polyvalent anti-venom segment dominates the market and is expected to continue its dominance over the forecast period. Polyvalent anti-venom works against various venom compositions and is effective against a broad spectrum of snake species, thus increasing its demand and market share.

Key Takeaways
The global anti-venom market is expected to witness high growth over the forecast period of 2023 to 2030. The growing incidence of snakebites and scorpion stings globally is driving the demand for anti-venom.

Regional analysis: The Asia Pacific region currently dominates the global anti-venom market share due to the high prevalence of snakebites in countries such as India, Pakistan, Sri Lanka, and Nepal. India accounts for over 50% of global snakebite mortality and anti-venom demand. Growing awareness programs by governments and NGOs regarding first-aid and availability of anti-venom are positively impacting the market growth in the region.

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, Merck & Co. Inc., Merck KGaA, MicroPharm Limited, Pfizer Inc., and Rare Disease Therapeutics Inc. BSV dominates the Indian anti-venom market owing to its extensive production and supply of anti-venom across the country.

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