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)
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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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