Global Antivenom Market is Expected to Reach US$ 3010.8 Mn by 2025, Surge in R&D for the Development of Newer Products
Analyst Speak:

“The Global Antivenom Market is expected to reach US$ 3010.8 Mn by 2025 owing to growth in R&D for the development of newer products”

The global antivenom market is expected to reach US$ 3010.8 Mn by 2025. Antivenom, also known as antivenom immunoglobulin, antivenin, and venom antiserum. It is a medication made from antibodies which is used to treat certain venomous bites and stings. These drugs reverse or prevent the side effects and adverse effects of snake bite in limited dose. The market is majorly driven by the increased attacks of snakes and death caused by it. Additionally, launching of new products and frequent product approvals are also fueling the growth of global antivenom market. Due to its immense importance WHO also added it in their list of essential medicines. Big companies like Merck, Roche are taking a lot of initiatives to develop newer and more improved products. On the flip side high cost of the products, and unaffordability by the lower income groups are major restraints of this global antivenom market.

Global Antivenom market is segmented on the basis of product type, animal type, distribution channel, and region.

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Polyvalent Antivenom Dominate the Global Antivenom Market

Based on the product type, global antivenom market is segmented into polyvalent and monovalent antivenom. Polyvalent antivenom tends to dominate the global antivenom market due to its properties. It can save life of a person snake envenomation, even if the snake is unknown. It is capable of counteract a number of homologous venom from different species. They are boon for those regions which encounters a lot of snakes. Monovalent antivenom may not be present, at that time only polyvalent antivenom can save victims life.

North America Leads the Global Antivenom Market

PBI’s global antivenom market report analyses the market in different regions such as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. According to regional analysis, North America antivenom market dominates the global antivenom market. They accounted for larger revenue share through 2014-2018 and expected to dominate over 2019-2025 owing to their increased prevalence of snake attacks especially by rattlesnakes. About 90-95% of snake related attack and death occurs due to Diamond Head rattle snake. Their technological advancement, and increase in antivenom products are also driving the growth of this antivenom market. Moreover, the Asia Pacific antivenom market is also expected to grow in the forecast years due to increased attacks in some countries like Australia and India. Moreover, their emerging economies, rising concerns and improving technologies are also contributing in their market growth.

Launch of newer products, and strategic alliances are the key strategies adopted by market players

Global Antivenom market further reveals that the key players increasingly adopting strategies such as launch of newer products, and long term alliance to improve market revenue share and gaining significant geographic presence across the region. For instance, in September 2018, BTG plc claimed that US FDA has granted approval for updating the shelf life of their antivenom “Ovine” to 60 month.
Additional, in October 2018, Silanes Laboratories received US FDA’s approval for their product “Anavip” to be used against the bite of Crotalus family snakes, which also include rattle snake.

Key player’s profiles in the report are Vins Bioproducts Limited (India), Pfizer Inc. (U.S.), Bharat Serum and Vaccines Limited (India), Merck & Co., Inc. (U.S), CSL Limited (Victoria), BTG Plc (U.K), Rare Disease Therapeutics, Inc. (U.S.), Incepta Vaccine Ltd. (Bangladesh), F. Hoffmann-La Roche AG (Switzerland), Instituto Bioclon, S.A. de C.V.(Mexico), and Silanes Laboratories (Mexico).

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Precision Business Insights (PBI) in its report titled “Global Antivenom Market: Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2014-2018 and Forecast 2019-2025” assesses the market performance over seven years forecast period over 2019-2025. The report analyses the market value forecast and provides the strategic insights into the market driving factors, challenges that are hindering the market revenue growth over forecast period.

Detailed Segmentation

By Product Type
• Monovalent
• Polyvalent

By Animal
• Spiders
• Snake
• Scorpions
• Others

By Distribution Channel
• Hospitals
• Clinics
• Others

Geography

o North America
• US
• Canada
o Europe
• Germany
• France
• UK
• Italy
• Spain
• Russia
• Poland
• Rest of Europe
o Asia-Pacific
• Japan
• China
• India
• Australia & New Zealand
• ASEAN (Includes Indonesia, Thailand, Vietnam, Philippines, Malaysia, and Others)
• South Korea
• Rest of Asia-Pacific
o Latin America
• Brazil
• Mexico
• Argentina
• Rest of Latin America
o Middle East and Africa (MEA)
• Gulf Cooperation Council (GCC) Countries
• Israel
• South Africa
• Rest of MEA


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