|Fastest Growing Market:||Asia Pacific|
|Largest Market:||North America|
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The anti-venom market was valued at USD 969.38 million in 2020, and it is anticipated to reach USD 1585.01 million in 2026, registering a CAGR of nearly 8.54% during the forecast period, 2021-2026.
There was a significant increase in the number of deaths reported due to snake bites during the COVID-19 pandemic in few areas. This is creating a substantial demand for anti-venoms. More than 350 snake bites were reported in Texas in 2020, which was an increase of 40% over the value registered in 2019, as per the June 2020 article titled, “Texas snake bites increasing during COVID-19 pandemic”.
Snakebite is one of the neglected public health issues in many tropical and subtropical countries. According to the World Health Organization (WHO), in 2017, approximately 5.4 million snake bites occur each year, resulting in up to 2.7 million envenoming (poisoning from snake bites) and about 81,000 to 131,000 deaths due to snake bites. Moreover, it often leads to around three times as many amputations and other permanent disabilities.
According to a study published by the journal eLife in 2019, India witnessed an estimated 1.2 million deaths due to snakebites between 2001-2020. The study included public health researchers and herpetologists from India, the United Kingdom, and Canada.
The prevalence of venomous bites and stings has increased over the years. To cater to the demand for anti-venom drugs, in May 2019, the Snakebite Crisis Organization raised funds for developing high-quality and treatment-enhancing anti-venoms to meet the continually rising need for anti-venom. Also, in January 2019, Wyeth Pharmaceuticals, a wholly owned subsidiary of Pfizer Inc., extended the expiration date on Antivenin (Micrurus fulvius) (Equine Origin) for coral snake bite.
All these developments by the players, along with rising awareness due to the involvement of international health organizations in producing safe and effective anti-venoms, are the factors propelling the market growth.
However, anti-venom production is difficult and expensive. The cost of anti-venoms has increased over the last two decades, making treatment unaffordable for most people. This is the major factor that is expected to hinder the market growth over the forecast period.
Scope of the Report
An anti-venom (or antivenin or antivenene) is a biological product used to treat venomous bites or stings. The anti-venom is created by extracting venom from the relevant species of animal, which includes snakes, spiders, insects, fish, etc. The market is segmented by species and anti-venom type. The species considered are snakes, scorpion, spiders, etc. The other species segment includes bees, marine animals such as fish and jellyfish, and insects. The types considered are polyvalent heterologous, monovalent heterologous, homologous, and small molecule anti-toxins. The anti-venom market is segmented by species (snake, scorpion, spiders, and other species), anti-venom type (polyvalent anti-venoms, monovalent anti-venom, and other anti-venom types), and geography (North America, Europe, Asia-Pacific, Middle-East and Africa, and South America). The report offers the market size and forecasts in value (USD million) for the above segments.
|By Anti-venom Type|
|Other Anti-venom Types|
Key Market Trends
The Polyvalent Anti-venoms Segment is Poised to Register Robust Growth
Polyvalent anti-venoms consist of antibodies that are capable of counteracting a number of homologous venoms from various species/genera. Polyvalent antivenoms have the ability to save the lives of victims of snake envenomation, even when the culprit snake is unknown, in most usual cases and about 80% of the time when a monovalent antivenom cannot be chosen. Due to the obvious advantages that they have, polyvalent anti-venoms are the most preferred anti-venom drug.
Owing to the current COVID-19 situation, the research and development of all the companies are deployed for COVID-19 research, and there has been very little or no research going on in this segment currently, which is going to affect the market growth to a certain extent.
Polyvalent anti-venoms are beneficial in regions where there is a presence of a large number of venomous species and when it is difficult to produce monovalent antivenoms against all of them. Owing to the numerous advantages, the key players dealing in the anti-venom market are focusing on developing polyvalent anti-venoms. For instance, in 2019, the University of Arizona launched a polyvalent F(ab)2 Equine, an anti-venom indicated for the treatment against the North American coral snake (Micrurus) bite.
Also, in October 2018, Silanes Laboratories received the United States Food and Drug Administration (FDA) approval for Anavip, a pentavalent anti-venom against the bite of snakes of the Crotalus family. All these developments are propelling the growth of the pentavalent anti-venom segment.
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Asia-Pacific is Expected to Retain a Significant Market Share During the Forecast Period
The Asia-Pacific anti-venom market is expected to hold a significant share during the forecast period, owing to the high incidence of snake bites and other venomous bites in countries such as India and Bangladesh. For instance, in 2017, the Journal of the Association of Physicians of India published data stating that around 50,000 people die in India annually, due to venomous snake bites.
Also, the government and non-profit organizations in these regions are focusing on various research for the treatment therapeutics. In April 2018, the Jawaharlal Nehru Tropical Botanical Garden and Research Institute (JNTBGRI) and the University College, Thiruvananthapuram, used extracts from the Bael tree to neutralize the adverse effects of cobra venom; the researchers are now planning to formulate the extract.
However, in rural areas of key regions, such as India, Bangladesh, and Nepal, the adoption rate of anti-venoms is quite low due to the lack of awareness, which may hinder the growth of the market.
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Most of the developing countries with established biotechnological facilities have local scientific expertise, which creates favorable conditions and the atmosphere to establish local anti-venom manufacturing practices. Countries such as Brazil, Costa Rica, Egypt, France, India, Mexico, South Africa, and Thailand have large, well-established anti-venom manufacturers. Many companies from Costa Rica to Spain to India are developing new techniques to produce economically and medically promising African polyvalent anti-venoms. For instance, in October 2018, scientists from the Clodomiro Picado Institute of the University of Costa Rica (ICP-UCR) created an antidote capable of neutralizing the venom of the black mamba snake (Dendroaspis polylepis), an extremely venomous snake of the family Elapidae and native to parts of Sub-Saharan Africa.
The major market players operating in the anti-venom market include BTG PLC, Pfizer Inc., Merck KGaA (Sigma Aldrich), Boehringer Ingelheim, and CSL Limited, among others.
In April 2021, Rare Disease Therapeutics, Inc. announced that the United States (US) Food & Drug Administration (FDA) approved a new expanded indication for ANAVIP (crotalidae immune F(ab’)2 (equine)), an equine-derived antivenin, for the management of adult and pediatric patients with North American Pit Viper envenomation.
In March 2021, SERB Specialty Pharmaceuticals announced the acquisition of BTG Specialty Pharmaceuticals, a division of Boston Scientific that develops, manufactures, and commercializes antidotes and rescue medicines to treat patients with critical conditions. BTG has a portfolio of market-leading emergency care products, that also includes CroFab (antivenom).
Table of Contents
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Awareness on Anti-venoms Available
4.2.2 Technological Advancements
4.3 Market Restraints
4.3.1 Complexities Involved in the Preparation of the Correct Immunogens
4.3.2 Lack of Regulatory Capacity for the Control of Anti-venoms in Countries
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Species
5.1.4 Other Species
5.2 By Anti-venom Type
5.2.1 Polyvalent Anti-venoms
5.2.2 Monovalent Anti-venom
5.2.3 Other Anti-venom Types
5.3.1 North America
220.127.116.11 United States
18.104.22.168 United Kingdom
22.214.171.124 Rest of Europe
126.96.36.199 South Korea
188.8.131.52 Rest of Asia-Pacific
5.3.4 Middle East and Africa
184.108.40.206 South Africa
220.127.116.11 Rest of Middle East and Africa
5.3.5 South America
18.104.22.168 Rest of South America
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Company Profiles
6.1.1 Bharat Serums and Vaccines Ltd
6.1.2 Boehringer Ingelheim International GmbH
6.1.3 Boston Scientific Corporation
6.1.4 CSL Limited
6.1.5 Flynn Pharma Ltd (Micropharm)
6.1.6 Merck & Co. Inc.
6.1.7 Merck KGaA (Sigma Aldrich)
6.1.8 Pfizer Inc.
6.1.9 Rare Disease Therapeutics Inc.
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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Frequently Asked Questions
What is the study period of this market?
The Global Anti-venom Market market is studied from 2018 - 2026.
What is the growth rate of Global Anti-venom Market?
The Global Anti-venom Market is growing at a CAGR of 8.54% over the next 5 years.
Which region has highest growth rate in Global Anti-venom Market?
Asia Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Global Anti-venom Market?
North America holds highest share in 2020.
Who are the key players in Global Anti-venom Market?
BTG PLC, Pfizer Inc., Merck KGaA (Sigma Aldrich), Boehringer Ingelheim, CSL Limited are the major companies operating in Global Anti-venom Market.