Anti-Venom Market Trends, Analysis Research and Projections For 2019-2028
Venom is poisonous snake bite that is a capable of injecting, secreting, or spitting a toxin in body. Anti- venom neutralizes the poisonous venom, and release venom from the receptor site which is than then excreted from the body. Snakes anti venom immunoglobulins are specific treatment for envenoming by snakebites and plays important role in minimizing mortality and morbidity. Children and farmers are the most common victims of snakebite.
Factors driving demand for global anti- venom market includes high incidence of snakes bites and scorpion bites. In addition, increasing government funding for developing effective and efficient products is other factors expected to drive the growth of global anti- venom market over the forecast period. However, high manufacturing cost, inefficient production processes are factors limiting the growth of global anti-venom market over the forecast period.
Product type segment includes snake anti-venom, scorpion anti-venom, and spider anti venom. The snake anti-venom contribute major market share and maintains its dominance over the forecast period owing to high prevalence of snake bites. Furthermore, venomous snakes causes acute medical emergencies.
End user segment includes hospitals, ambulatory surgical centers, and clinics. The hospital contribute major market share as compared to other end user segment and is expected to witness rapid growth over the forecast period.
Global anti-venom market segmentation;
By anti-venom type:
- Monovalent Anti-venom
- Polyvalent Anti-venom
By product type:
- Snake anti venom
- Scorpion anti-venom
- Spider anti venom
By end user:
- Ambulatory Surgical Centers
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Regional segmentation includes North America, Europe, Latin America, Asia Pacific and Middle East and Africa. Furthermore, revenue from the market in the Asia Pacific is expected to continue to grow significantly over the forecast period. According to World Health Organization data of 2017, in Asia pacific region up to 2 million people are envenomed by snakes every year.
Some prominent players in the global anti-venom market are Sigma Aldrich, Bharat Serums and Vaccines Limited, Micropaharm Limited, Haffkine Bio-Pharmaceutical Corporation Ltd., Rare Therapeutics, Inc., Vins Bioproducts Limited, Incepta Vaccine Ltd., Medtoxin Venom Laboratories, LLC, CSL Behring, and BTG International Ltd.