According to the Market Statsville Group (MSG), the Global Snake Antivenom Market size is expected to grow from USD 719.6 million in 2022 to USD 1,024.7 million by 2033, at a CAGR of 7.1% from 2023 to 2033.
The snake antivenom market is the rising incidence of snake bites globally. This has increased demand for snake antivenom in both developed and developing countries. Another driver of the snake antivenom market is the growing awareness of the importance of snake antivenom. Governments and healthcare organizations in several countries are implementing programs to educate people about the dangers of snake bites and the need for prompt treatment. This has resulted in an increased demand for snake antivenom.
Definition of the Global Snake Antivenom Market
Snake antivenom is a medication used to treat envenomation caused by the bite of a venomous snake. It is made from the antibodies of animals that have been immunized with snake venom. The animals used for this purpose are horses, sheep, or goats, injected with small amounts of snake venom over time. This process stimulates the animals' immune systems to produce antibodies that can neutralize the venom. Once the animals have produced enough antibodies, their blood is collected, and the antibodies are purified to create antivenom. When administered to a person who a venomous snake has bitten, the antivenom binds to the venom in their body and neutralizes its toxic effects, reducing the severity of the envenomation and increasing the chances of survival. Snake antivenom is typically given through an intravenous infusion and is most effective when administered as early as possible after the snake bite. The type of antivenom used depends on the snake species responsible for the envenomation, as different snakes produce different types of venom. It is important to note that antivenom is not a cure for envenomation but rather a treatment that can help to reduce the severity of symptoms and save lives.
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Global Snake Antivenom Market Dynamics
Drivers: Increase in The Prevalence of Snake Bites
The increase in the prevalence of snake bites is a major driver of the demand for the snake antivenom market. According to the World Health Organization, snake bites are responsible for over 100,000 deaths and around 2.7 million cases of envenomation each year. These bites can cause a range of symptoms, including swelling, pain, and paralysis, and in some cases, they can be fatal. As the human population grows and expands into new areas, the risk of snake bites increases. In addition, environmental factors such as climate change and deforestation can also lead to changes in snake behavior and habitat, which can increase the risk of snake bites.
The rise in outdoor activities such as hiking, camping, and wildlife photography has also increased in snake bites. These activities often take people into areas where snakes are more prevalent, increasing the risk of bites. All of these factors have contributed to a growing demand for snake antivenom. This has led to an increase in the production and distribution of antivenom, as well as efforts to raise awareness about the importance of prompt treatment for snake bites.
Scope of the Global Snake Antivenom Market
The study categorizes the snake antivenom market based on type, mode of action, and end-users area at the regional and global levels.
By Type Outlook (Sales, USD Billion, 2019-2033)
- Monovalent
- Polyvalent
By Mode of Action Outlook (Sales, USD Billion, 2019-2033)
- Cytotoxics
- Neurotoxics
- Haemotoxic
- Cardiotoxic
- Myotoxic
- Others
By End-Users Outlook (Sales, USD Billion, 2019-2033)
- Hospitals
- Clinics
- Ambulatory Surgical Centers
By Region Outlook (Sales, USD Billion, 2019-2033)
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Italy
- France
- UK
- Spain
- Poland
- Russia
- The Netherlands
- Norway
- Czech Republic
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Indonesia
- Malaysia
- Thailand
- Singapore
- Australia & New Zealand
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Colombia
- Rest of South America
- The Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Northern Africa
- Rest of MEA
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Polyvalent segment accounts for the largest market share by type
Based on the type, the market is divided into polyvalent and monovalent. The polyvalent segment is expected to dominate the market share in 2022 in the global snake antivenom market. The polyvalent segment currently dominates the market share in the snake antivenom market. Polyvalent antivenom is designed to treat the bites of multiple types of snakes rather than just one specific type. This is in contrast to monovalent antivenom, which is designed to treat the bites of a single type of snake. Polyvalent antivenom is popular because it offers broader protection against multiple types of venom, which can be important in areas where several species of venomous snakes exist. It also simplifies treatment protocols, as healthcare providers do not need to know the specific species of snake that caused the bite in order to administer the appropriate antivenom.
Asia Pacific is expected to witness the largest market share by Region
Based on the regions, the global snake antivenom market has been segmented across Europe, North America, the Middle East & Africa, Asia-Pacific, and South America. Asia Pacific is projected to account for the highest market share in 2022. The demand for snake antivenom in the Asia Pacific region is high, as the region has a high prevalence of venomous snakes and snake bites. According to the World Health Organization (WHO), the Asia Pacific region accounts for over 75% of global snakebite deaths. India is the country with the highest number of snakebite deaths, followed by other countries in the region, such as Bangladesh, Indonesia, and Sri Lanka. The high demand for snake antivenom in the Asia Pacific region is also driven by factors such as the high population density, agricultural and rural lifestyles, and limited access to healthcare services in some areas. Many snake bites in the region occur in rural areas where access to medical facilities and antivenom can be limited. The demand for snake antivenom in the Asia Pacific region is expected to continue to grow as populations increase, and urbanization and deforestation lead to more encounters with snakes. However, there are also challenges to meeting this demand, including the high cost of antivenom, limited availability in some areas, and varying quality and efficacy of available antivenom products.
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Competitive Landscape - Global Snake Antivenom Market
The snake antivenom market is a significant competitor, and extremely cutthroat in the sector are using strategies including product launches, partnerships, acquisitions, agreements, and growth to enhance their market positions. Most sector businesses focus on increasing their operations worldwide and cultivating long-lasting partnerships.
Major key players in the global snake antivenom market are:
- Instituto Bioclon, S.A. de C.V.
- Pfizer AG
- CSL Limited
- F. Hoffmann-La Roche Ltd.
- Merck & Co., Inc.
- Rare Disease Therapeutics, Inc.
- Vins Bioproducts Limited
- BTG Plc
- Incepta Vaccine Ltd.
- Bharat Serum
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