Global Anti-Venom Market Analysis Report 2024-2032: Increasing Investments in Developing New Drugs and Technological Innovation Fueling Growth – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “Global Anti-Venom Market Report by Type, Animal Type, End User, Region and Company Analysis 2024-2032” report has been added to ResearchAndMarkets.com’s offering.

The Global anti-venom market is expected to reach a value of US$ 1.95 Billion by 2032, with a projected CAGR of 6.46% between 2024 and 2032. The market was valued at US$ 1.11 Billion in 2023.

The growing prevalence of snake and other animal bites, such as fish stings, drives the anti-venom market. The global market for anti-venom is expected to grow due to increasing investment in developing new drugs and technological innovation in treating venomous bites. The growing incidence of snakebites worldwide is another major factor contributing to market growth. According to the World Health Organization (WHO), around 5.4 million people are bitten by snakes a year, resulting in a high demand for anti-venoms. However, the production of anti-venoms faces regulatory challenges in several countries.

United States Anti Venom Market

The anti venom market in the U.S. is expected to have significant growth due to the country’s high occurrence of snake bites. The market’s expansion is expected to be driven by announcements from considerable market players, such as the Fast Track designation granted by the US FDA to Ophirex’s darapladib-methyl for the treatment of snakebite, and the approval received by Rare Disease Therapeutics, Inc. for ANAVIP. ANAVIP is approved for managing adult and pediatric patients with pit viper envenomation in the United States of America, and these announcements are expected to contribute to the market’s growth.

India Anti Venom Market

India is home to almost 275 species of snakes, out of which only 60 are venomous and considered medically relevant, with four having significant mortality and morbidity. These four venomous snakes are collectively called the ‘Big Four.’ Anti-venom is a biological product that detoxifies the poisoning of venomous bites. Venomous bites can result in various clinical conditions, and it is estimated that around 40,000-80,000 people die in Asia, mainly in India, from snakebites annually. Antivenom products have been developed to counter the poisonous effects of venomous bites, including vaccines and hyperimmune sera.

Antivenom Market Data and Statistics

• The WHO has launched a strategy to prevent and control snakebite envenoming, a tropical disease affecting millions annually.
• Snakebites are a significant issue worldwide. In Asia, about 2 million individuals suffer from snakebites each year, while in Africa, an estimated 435,000 to 580,000 people require treatment for snakebites annually.
• India alone has 2.8 million snakebite cases, with 46,900 deaths every year.
• A study from the National Center for Biotechnology Information (NCBI) found that a snakebite treatment ward in a Bangladesh tertiary hospital experienced a 25% decrease in overall snakebite hospital admissions in 2020 compared to previous years.
• Ten laboratories in Latin America, including Instituto Nacional de Salud and Instituto Butantan, have observed a decline in snake antivenom production in 2021.
• According to Centers for Medicare & Medicaid Services (CMS), National Health Expenditures (NHE) in the US are projected to reach USD 6,192.5 Billion in 2028 with an average annual percent change of 5.2%.
• The per capita expenditure is estimated to touch USD 17,611 by 2028, implying that this growth in NHE is expected to create lucrative business opportunities.

Key Attributes:

Report Attribute	Details
No. of Pages	195
Forecast Period	2023 – 2032
Estimated Market Value (USD) in 2023	$1.11 Billion
Forecasted Market Value (USD) by 2032	$1.95 Billion
Compound Annual Growth Rate	6.4%
Regions Covered	Global

Company Analysis: Overview, Recent Developments, Revenue Analysis

• Bharat Serums and Vaccines Limited (BSV)
• Boehringer Ingelheim International GmbH
• Boston Scientific Corporation
• CSL Limited
• Merck & Co. Inc.
• Merck KGaA
• Pfizer Inc.
• Haffkine Bio-Pharmaceutical Corporation Limited

Type – Global Anti-Venom Market breakup in 2 viewpoints:

• Polyvalent Anti-Venom
• Monovalent Anti-Venom

Animal Type – Global Anti-Venom Market breakup in 4 viewpoints:

• Wheat Snake
• Scorpion
• Spider
• Others

End-User – Global Anti-Venom Market breakup in 4 viewpoints:

• Wheat Clinics
• Hospitals
• Ambulatory Surgical Centers
• Others

Country – Global Anti-Venom Market breakup of 25 Countries:

• North America
• United States
• Canada
• Europe
• France
• Germany
• Italy
• Spain
• United Kingdom
• Belgium
• Netherlands
• Turkey
• Asia Pacific
• China
• Japan
• India
• South Korea
• Thailand
• Malaysia
• Indonesia
• Australia
• New Zealand
• Latin America
• Brazil
• Mexico
• Argentina
• Middle East & Africa
• Saudi Arabia
• UAE
• South Africa

For more information about this report visit https://www.researchandmarkets.com/r/9gi47b

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