Source Secondary Research, Primary Research, MRFR Database, and Analyst Review
Market CAGR for anti-venom is driven by the increased prevalence of animal bites, such as snake and scorpion bites, which will boost the growth rate of the antifungal medications market. A worldwide increase in reported cases of poisonous bites and stings, especially in tropical areas and among farmhands and hunters. The increasing relevance of snake bite avoidance also contributes to the market's positive outlook, as is the widespread availability of products at reasonable prices. In addition, the market expansion is being fueled by the government's extensive attempts to prevent snake bites, such as education and training programs and heavy investments in research and development of new anti-venom treatments.
Additionally, more travelers visit exotic locations where snakes or other poisonous creatures might attack them. Such places include islands, deserts, jungles, and safaris. The market is also being bolstered by several innovations in manufacturing technology, as well as developments in biotechnology and healthcare that are allowing for the creation of more potent and efficient anti-venom medicines. Increases in disposable income and capital allocated to drug research and development will fuel the market's expansion. The in vitro detection and immunological identification of snake venom in bite site samples, plasma, blood, or other tissues and body fluids is now possible with the introduction of snake venom detection kits that use a rapid enzyme immunoassay. Therefore, the increasing prevalence of these attacks is fueling the expansion of the international market.
For instance, Terumo Aortic has announced that the Relay®Pro Thoracic Stent-Graft has received FDA approval for use in the treatment of aortic dissection and transection. As a result, the demand for anti-venom is predicted to rise throughout the forecast era because of the rising awareness. Thus, the driving factor is anti-venom market revenue.
The anti-venom market segmentation, based on type, includes polyvalent, monovalent, and others. In 2022, the polyvalent segment led the anti-venom market in revenue. Polyvalent snake antivenom combines several types of antivenom, including brown snakes, tiger snakes, death adders, taipans, and black snakes. Victims of snake envenomation can have their lives saved by administering a polyvalent antivenom, even if the offending snake is unknown and a specific antivenom cannot be selected. The advantages of polyvalent anti-venoms make them the most popular type of anti-venom medication.
The anti-venom market segmentation, based on species, includes snakes, spiders, scorpions, and others. The snake segment is expected to develop at a CAGR of 8.90% over the projected period, making up the largest market share due to rising consumer awareness of the dangers of snakebites, unmet demand for antivenoms, improved regulatory frameworks and approval processes, and increased government investments in developing high-quality antivenoms.
The anti-venom market segmentation, based on the mode of action, includes cytotoxic, neurotoxic, haemotoxic, cardiotoxic, myotoxic, and others. The neurotoxic segment is expected to grow fastest at a CAGR of 8.90% in the coming years due to an increase in demand. Synthetic or naturally occurring compounds that harm the central and/or peripheral nervous system are collectively referred to as neurotoxins. Neurotoxins can cause cell death, loss of nuclei and/or axonal tracts, and demyelination in neurons and glia.
The anti-venom market segmentation, based on end-users, includes clinics, hospitals, ambulatory surgical centers, and others. The hospital segment is the largest market share is expected to expand fastest at a CAGR of 8.90% over the next several years because it is common practice for medical doctors, solid recommendations for the improvement, manufacturing, quality assurance, and testing of safe and effective antivenom treatment.
Figure 1 Anti-Venom Market by End-User, 2022 & 2032 (USD Billion)
Source Secondary Research, Primary Research, MRFR Database, and Analyst Review
Anti-Venom Regional Insights
By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North American anti-venom market will dominate because there are now so many labs and research centers in the area. In addition, it benefits from a well-established healthcare infrastructure and the expanding presence of significant important players, both of which are expected to fuel the market's expansion in this region.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2 Anti-Venom Market Share By Region 2022 (USD Billion)
Source Secondary Research, Primary Research, MRFR Database, and Analyst Review
Europe’s anti-venom market accounts for the second-largest market share because the growing government measures to improve the region's healthcare infrastructure drive healthcare costs. Further, the German anti-venom market held the largest market share, and the UK anti-venom market was the fastest-growing market in the European region.
The Asia-Pacific anti-venom market is expected to grow at the fastest CAGR from 2024 to 2032 due to Because of the prevalence of snake bites and other poisonous bites in the area, the growing public awareness of the dangers these bites pose, and the improved medical technology available to treat them, and the growing funding for research. Moreover, China’s anti-venom market held the largest market share, and the Indian anti-venom market was the fastest-growing market in the Asia-Pacific region.
Anti-Venom Key Market Players & Competitive Insights
Leading market players are investing heavily in research and development to expand their product lines, which will help the anti-venom market grow even more. There are some strategies for action that market participants are implementing to increase their presence around the world’s footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the anti-venom industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics manufacturer use in the anti-venom industry to benefit clients and increase the market sector. In recent years, the anti-venom industry has offered some of the most significant technological advancements. Major players in the anti-venom market, including Stryker Corporation, Boston Scientific Corporation, Smiths Medical, Allison Medical Inc., Owen Mumford Ltd., Ypsomed Holding AG, Terumo Corporation, Hamilton Company, Medline Industries Inc., UltiMed Inc., and others, are attempting to increase market demand by investing in research and development operations.
Stryker is one of the top manufacturers of medical equipment in the world, and we share the desire to improve healthcare with our clients. We provide cutting-edge goods and services in the fields of medicine and surgery, neurotechnology, orthopedics, and spine that enhance patient outcomes. In May 2023, Stryker was one of the first businesses to receive the Healthcare Industry Resiliency Collaborative (HIRC) Transparency Partner Badge. The HIRC Transparency Partner Badge honors Stryker’s dedication to fostering collaboration and raising transparency in support of a more robust healthcare supply chain.
Owen Mumford, a manufacturer of medical devices with operations in the UK, Europe, the US, and Asia, has been a pioneer in the creation of medical technology for seventy years. The company makes its own range of medical products under its own brand and serves as a dependable business partner to many of the largest pharmaceutical and diagnostic companies in the world. When creating its market-leading medicine administration, blood-sample collection, and testing solutions, it puts the comfort, safety, and dignity of patients, healthcare providers, and carers first. One of the earliest manufacturers of medical equipment to be certified as a B Corp, Owen Mumford is driven by its commitment to ethical business practices. Owen Mumford has made a long-standing and continuous commitment to conducting business responsibly. In April 2023, The Aidaptus single-use auto-injector from Owen Mumford, which was introduced in 2021, received a distinction in the prestigious Red Dot Awards for outstanding product design. The Red Dot Award for Product Design 2023 goes to Aidaptus.
Key Companies in the Anti-Venom Market include
Anti-Venom Industry Developments
April 2023 Terumo India, the Indian subsidiary of Terumo Corporation (TSE 4543), has introduced a first-of-its-kind program for Cathlab Directors in collaboration with Executive Education at the Indian School of Business, a ly top-ranked business school, to raise the quality of care and efficiencies in Cathlabs across India.
March 2022 Smiths Medical, a trusted name in the medical equipment industry, has released their new acapella® choice blue vibratory PEP therapy system. Cystic fibrosis, chronic obstructive pulmonary disease, lung illness with secretory issues, and atelectasis patients can all benefit from using Acapella® to help remove secretions from the lungs.
August 2022 The Indian Institute of Science Labs and Bharat Serums and Vaccines (BSV), an Indian biopharmaceutical firm, have been working to develop cutting-edge treatments for snake bites.
Anti-Venom Regional Outlook
| Report Attribute/Metric | Details |
| Market Size 2023 | USD 0.65 Billion |
| Market Size 2024 | USD 0.7 Billion |
| Market Size 2032 | USD 1.29 Billion |
| Compound Annual Growth Rate (CAGR) | 8.90% (2024-2032) |
| Base Year | 2023 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Species, Mode of Action, End-User, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, Aircraft Type, and the Rest of the World |
| Countries Covered | The US, Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Stryker Corporation, Boston Scientific Corporation, Smiths Medical, Allison Medical Inc., Owen Mumford Ltd., Ypsomed Holding AG, Terumo Corporation, Hamilton Company, Medline Industries Inc., UltiMed Inc., and others |
| Key Market Opportunities | The increasing popularity of snake venom among drug abusers |
| Key Market Dynamics | Public and private efforts to educate people about the dangers of snake bites increased |
Frequently Asked Questions (FAQ) :
The anti-venom market size was valued at USD 0.65 Billion in 2023.
The market is projected to grow at a CAGR of 8.90% during the forecast period, 2024-2032.
North America had the largest share of the market.
The key players in the market are Stryker Corporation, Boston Scientific Corporation, Smiths Medical, Allison Medical Inc., Owen Mumford Ltd., Ypsomed Holding AG, Terumo Corporation, Hamilton Company, Medline Industries Inc., UltiMed Inc., and others.
The polyvalent type category dominated the market in 2022.
The clinics had the largest share of the market.
Assistant Manager He holds an experience of about 7+ years in market research and business consulting, working under the spectrum of life sciences and healthcare domains. rahul conceptualizes and implements a scalable business strategy and provides strategic leadership to the clients. his expertise lies in market estimation, competitive intelligence, pipeline analysis, customer assessment, etc. in addition to the above, his other responsibility includes strategic tracking of high growth markets & advising clients on the potential areas of focus they could direct their business initiatives
Get in Touch
© 2024 Market Research Future ® (Part of WantStats Reasearch And Media Pvt. Ltd.)
