The global Anti Venom Market Growth Accelerated by increasing prevalence of snake bites


 Anti-venom are biotherapeutics used for treating venomous snake, spider or scorpion bites and stings. They help neutralize the toxicity of venom and can reverse its effects. The rising incidences of snake bites globally due to increasing human encroachment into wilderness habitats has boosted the need for anti-venom drugs.

The global Anti Venom Market is estimated to be valued at US$ 9,229.16 million 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:

Increasing prevalence of snake bites: The prevalence of snake bites is increasing globally, primarily due to growing human encroachment into wilderness habitats of venomous snakes. As per the WHO, there are an estimated 2.7 million snakebites each year, resulting in around 81,000 to 138,000 deaths annually. The rising incidence of snake bites has boosted the demand for anti-venom drugs for emergency treatment, thereby accelerating the growth of the global anti-venom market over the forecast period.

Segment Analysis
The global anti-venom market is dominated by the snake anti-venom segment. Of the total anti-venom market, snake anti-venom constitutes nearly 70% share. This is because snakes, especially cobras, sea snakes, and rattlesnakes are responsible for a majority of venomous animal bites globally.

Key Takeaways
The global anti- venom market is expected to witness high growth over the forecast period of 2023 to 2030. The market size is projected to reach US$ 9229.16 Mn by 2024, growing at a CAGR of 6.7% during the forecast period.

Regional analysis
The North American region currently dominates the global anti-venom market. This is attributed to high healthcare expenditure, increased healthcare awareness, and presence of major market players in the region. However, the Asia Pacific region is expected to witness the fastest growth during the forecast period owing to rising number of venomous animal bites in emerging economies like India and Indonesia.

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, Merck & Co. Inc., Merck KGaA, MicroPharm Limited, Pfizer Inc., and Rare Disease Therapeutics Inc.

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