Antivenom Market by Type [Vaccines and Hyperimmune Sera (Homologous & Heterologous)], by Animal (Snakes, Scorpions, Spiders, and Others), and by Region - Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts (2016–2021)
Acording to the report Anti venom Market, published by Market Data Forecast, the Global market is projected to reach USD 1.49 billion by 2022, at a CAGR of 6.12% from 2017 to 2022.
Anti-venom is an antidote to the poison of any venomous animal. It helps in detoxification of the venomous bite and is prepared from the milking venom of the animals.
A venomous bite could be fatal in some cases though the most common symptoms include secretion of excessive saliva, breathing problems and muscle weakness.
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Anti-venom Market: Drivers & Restraints
Government has taken up initiatives to promote various anti-venom products which is a major factor driving the market growth. Increasing cases of snake bites along with numerous pipeline anti-venom products are further expected to fuel the market.
The recent withdrawal of anti-venom products, high production costs and insufficient funding to develop these products are hindering the market growth.
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Anti venom Market: Segmentation
- Hyperimmune Sera
- North America
o United States
o South Korea
- Latin America
o Rest of Latin America
- Middle East & Africa
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Anti-Venom Market: Overview
The Anti-venom Market is dominated by North America accounting 39% of the total market share followed by Europe in 2017. Asia Pacific is predicted to grow at the fastest pace during the forecast period.
Anti venom Market: Key Players
The Anti venom market is highly competitive with a large number of players. Some of the major Companies are Instituto Bioclon, S.A. de C.V. (Mexico), Pfizer AG (Switzerland), CSL Limited (Australia), F. Hoffmann-La Roche Ltd. (Switzerland), Vins Bioproducts Limited (India), BTG Plc (U.K.), Incepta Vaccine Ltd. (Bangladesh), and Bharat Serum and Vaccines Limited (BSV) (India) , Merck & Co., Inc. (U.S.), Rare Disease Therapeutics, Inc. (U.S.).
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