Anti-venom Market Size Projected to Deliver Greater Revenues during the Forecast Period Forecast 2022-2031

The anti-venom market is expected to register a CAGR of nearly 4.7% during the forecast period.

– Snakebite is a neglected public health issue in many tropical and subtropical countries. According to World Health Organization (WHO), about 5.4 million snake bites occur each year, resulting in up to 2.7 million envenoming’s (poisoning from snake bites) and at least 81,000 to 131,000 people die due to snake bites. Moreover, around three times as many amputations and other permanent disabilities
– Due to the involvement of international health organizations in producing safe and effective anti-venoms, people are aware of the anti-venom drugs.
– Anti-venom production is difficult and expensive. The cost of several anti-venoms has increased dramatically over the last two decades, making treatment unaffordable for most of the people who are in need of it. This is projected to hinder the market growth over the forecast period.
– Furthermore, inappropriate procurement and medicine distribution strategies in few countries contribute to manufacturers ceasing the production of anti-venom or increasing the prices of anti-venom.

Key Market Trends

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Polyvalent Antivenoms Segment is Poised to Register Robust Growth.

– Polyvalent antivenoms comprise particular antibodies that are capable of counteracting a number of homologous venoms from various species/genera. Polyvalent antivenoms can save lives of victims of snake envenomation, even when the culprit snake is unknown, most usual case, about 80% of all the time, and when a monovalent antivenom can not be chosen.
– Polyvalent anti-venoms are beneficial in regions where there is a presence of large number of venomous species and when it is difficult to produce monovalent antivenoms against all of them.
– Furthermore, it is now possible to formulate polyvalent antivenoms with high potencies analogous to those of the equivalent monovalent antivenoms. With good manufacturing processes, these antivenoms have been shown to cause few and minor adverse reactions.
– Moreover, polyvalent antivenoms demonstrated a wide range of Para specific neutralization of poisons from different species/genera, even from distant geographic areas. Lastly, it is less expensive and easier to produce and handle. Thus, the market for polyvanent antivenoms segment anticipated to have significant growth.

Anti-venom Market Size Projected to Deliver Greater Revenues during the Forecast Period Forecast 2022-2031
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