Anti-venom Market Top Players Business Value Stated US$ 729.9 Mn, at a CAGR of 4.7% By 2026: Emerging Trends, Global Opportunities, Future Growth Factors with Comprehensive Industry Report 2020
The global anti-venom market was assessed at US$ 504.9 million in 2018, and is projected to expand exponentially over the forecast period, exhibiting a CAGR of 4.7%.
Increasing approvals and the introduction of novel new anti-venom products are the prominent growth drivers for the global anti-venom market. In October 2018, Silanes Laboratories received the U.S. Food and Drug Administration (FDA) approval for its new anti-venom, called ANAVIP, which is an equine-derived antivenin indicated for the management of adult and pediatric patients severely affected by the envenomation of the North American rattlesnake.
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In the present day, a number of universities and research institutes are concentrating on the research & development of novel anti-venoms for the effective management of animal bites. For instance, Calorx Teachers’ University is presently working on the development of an anti-venom for treating snake bites.
The Asia Pacific anti-venom market is predicted to hold the largest market share in the global anti-venom market, on account of the high incidence rate of snake bites across the region. As per the data published by the Journal of Pharmacology & Clinical Toxicology, in June 2018, around 623.4 cases of snake bites are reported in Bangladesh each year.
Furthermore, approval and launch of new anti-venom products in the U.S. is a major supportive factor for the growth of the North America anti-venom market.
The leading companies trading in the global anti-venom market include BTG plc. Laboratorios Silanes, CSL Limited, Pfizer, Inc., Merck & Co., Inc., Bharat Serums and Vaccines Limited, Haffkine Bio-Pharmaceutical Corporation Ltd., Vins Bioproducts Limited, Incepta Pharmaceuticals Ltd., and Rare Disease Therapeutics Inc.
In an effort to develop novel anti-venoms and attain a major market share in the global market, these market contenders are actively adopting strategies, such as mergers and collaborations. For instance, Rare Disease Therapeutics Inc., in collaboration with Instituto Bioclon, S.A. de C.V. and Laboratorios Silanes, S.A. de C.V., is presently developing an anti-venom, known as Analatro, for the treatment of black widow spider bites.
Furthermore, in April 2018, Seqirus entered into new partnership program with the PNG Department of Health, the Australian High Commission, and the Charles Campbell Toxinology Centre (CCTC), to save the lives of people bitten by venomous snakes in Papua New Guinea. As per the deal, Seqirus would provide an annual donation of 600 vials of snake and marine creature anti-venoms to PNG.
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