The anti venom market is witnessing significant traction owing to the increasing prevalence of snakebite envenomations across tropical and subtropical regions globally. Anti venoms are antidotes administered to snakebite victims for neutralizing the effects of venom. They act by binding to venom toxins already in the body preventing further damage. The increasing risk factors such as growth of agricultural activities, hilly terrain, and lack of protective gear are fueling the instances of snakebites thereby driving demand for anti venoms.

 The Global anti venom market is estimated to be valued at US$ 9229.16 Mn in 2024 and is expected to exhibit a CAGR of 6.7% over the forecast period 2023 to 2030.

Key Takeaways

Key players operating in the anti arkvenom met 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.

The key opportunities in the market include raising awareness about first aid treatment in endemic regions, collaborations with governments for strengthening supply chains, and development of novel anti venom treatments.

The market is witnessing increasing global expansion with players focusing on geographic and product portfolio expansion strategies. Major players are focusing on strengthening their presence in high potential markets such as Asia Pacific, Latin America, and Africa through collaborations and acquisitions.

Market drivers

The key driver fueling the growth of anti venom market is the rising prevalence of snakebite envenomations across tropical and subtropical regions. It is estimated that 5 million people suffer snakebites annually resulting in 2.7 million envenomings and 138,000 deaths. The increasing agricultural and plantation activities in these regions near forests have resulted in higher human-snake encounters. Furthermore, lack of access to proper healthcare facilities and anti venoms in remote areas has increased the mortality rate due to snakebites. The growing agricultural activities without using protective equipment continues to increase the risk of snakebites driving demand for anti venoms.

PEST Analysis
Political: Stringent regulations by governments across the globe regarding the production and testing of anti-venom drugs to ensure patient safety. Governments provide support for anti-venom research and production in endemic regions.
Economic: Rise in healthcare spending drives the market. However, low demand and affordability in underdeveloped regions act as a restraint.
Social: Increased awareness about snake bites and availability of treatment encourages people to seek medical help. Remote locations remain inaccessible for treatment.
Technological: R&D aims to develop novel anti-venoms with improved specificity, efficacy, and stability. Replacing animal immunization with molecular techniques could help increase yield.

The North American market accounts for over 30% of the global value due to high healthcare expenditures and increasing requirement of anti-venom drugs in regions like the US and Canada for emergency treatment of snake bites. Australia is another prominent regional market attributable to its geographic location in a continent prone to snake bites.

The market in Asia Pacific registers the fastest value growth on account of rising incidence of snake bites, especially in densely populated countries like India and Indonesia. Central governments in these nations collaborate with anti-venom manufacturers to boost local production and accessibility in rural healthcare centers. Brazil, which has one of the highest snake bite fatality rates in the world, drives demand in Latin America.

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