Market Overview:

Antivenom Market is expected to reach USD $1.9 billion by 2024 from USD $2.6 billion in 2019, growing at a CAGR of 6.18% during the forecast period 2019-2024. Anti-venom is a medication majorly used to treat snake bites and it can even be used to treat bites from scorpions, spiders or alternative reptiles. It’s created by fractionating the blood of the donor (horse or sheep), that is hyper vaccinated with venom. These products are obtainable in either lyophilised or liquid forms. Anti-venom is that the solely effective medical aid against snake bites and apart from lifesaving, they conjointly save patients from cell and tissue gangrene, so serving to save very important organs. As per World Health Organization (WHO) fact sheet, 4.5 to 5.4 million people square measure bitten by snakes,

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Factors affecting market growth:

• Anti venom treatment is the only standard treatment for snake bite with no alternative treatments (+)
• Presence of high number of snake victims (+)
• Inadequate investments by government (-)
• High manufacturing cost and inefficient production process (-)

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Market Segmentation :

Global Antivenom Market is segmented on the basis of

Type

• Vaccines
• Hyperimmune sera

Animals

• Snakes
• Scorpions
• Spiders
• others

Vaccines is the most common therapy used for the treatment of snake bite and it is accounted for the highest market growth. Coming to animal segmentation people who got bitten are mostly because of snake and it is harmful compared to other animals.

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Key players:

Key market players in Antivenom market include Instituto Bioclon, S.A. de C.V. (Mexico), Pfizer AG (Switzerland), CSL Limited (Australia), F. Hoffmann-La Roche Ltd. (Switzerland), Merck & Co., Inc. (U.S.), Rare Disease Therapeutics, Inc. (U.S.), Vins Bioproducts Limited (India), BTG Plc (U.K.), Incepta Vaccine Ltd. (Bangladesh), and Bharat Serum and Vaccines Limited (BSV) (India).

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