Various factors are boosting the global anti-venom market growth. Such factors, as revealed by the new MRFR report, include enhancing regulatory framework, increasing awareness about anti-venoms, rising government assistance, increasing patient pool, rising funds from the government for R&D activities, unmet medical needs, and increasing cases of snake bites.
The global anti-venom market is likely to grow at a 6.5% CAGR between 2017- 2023, reveals the new Market Research Future (MRFR) report. Anti-venom or antivenin, venom antiserum, or anti-venom immunoglobulin, simply put, is a medicine created from antibodies that are used to treat specific venomous bites & stings. This antibody product works wonders in disabling the toxins of the venom. Monovalent heterologous anti-venom, small molecule anti-toxins, polyvalent heterologous anti-venom, and homologous anti-venom are the different types of anti-venom.
On the flip side, shortage of anti-venom stock, inappropriate clinical application, inefficient production processes, high production cost, and inconsistent quality standards are factors that are likely to impede the global anti-venom 2020 growth during the forecast period.
Key Players
Notable players profiled in the anti-venom market manufacturers report include Allison Medical, Thermo Fisher Scientific, B. Braun Melsungen AG, Medtronic plc, Roboz Surgical Instrument, Dickinson and Company, Boston Scientific Corporation, Stryker Corporation, Johnson & Johnson Services, Inc, Ypsomed Holding AG, Smiths Medical, Hu-Friedy Mfg. Co., LLC, Allison Medical, Inc., Medline Industries, Inc., Novo Nordisk A/s, Artsana S.p.a., UltiMed, Inc., Becton, Terumo Corporation, cHill-Rom, and Owen Mumford, Ltd. Industry players have adopted strategies such as acquisitions, contracts, R&D, product launch, collaborations, and mergers, to stay ahead in the competition.
Market Segmentation
The Market Research Future report provides a wide segmental analysis of the anti-venom market based on end user, product type, mode of action, type of species, and type.
- Based on type, the anti-venom market is segmented into small molecule anti-toxins, homologous anti-venom, monovalent heterologous anti-venom, and polyvalent heterologous anti-venom. Of these, the polyvalent heterologous anti-venom segment will have the largest share in the market over the forecast period.
- Based on species type, the anti-venom market is segmented into spiders, scorpions, snakes, and others. The snake segment is further segmented into Russell Viper, common krait, common cobra, and others.
- Based on the mode of action, the anti-venom market is segmented into myotoxic, cardiotoxic, hemotoxic, neurotoxic, cytotoxic, and others.
- Based on product types, the anti-venom market is segmented into spider anti-venom, scorpion anti-venom, snake anti-venom, and others. Of these, the snake anti-venom segment will dominate the market over the forecast period.
- Based on end user, the anti-venom market is segmented into surgical centers, ambulatory, clinics, hospitals, and others. Of these, the hospitals segment will lead the market over the forecast period.
Regional Analysis
The global anti-venom market is geographically segmented into four regions- Europe, the Americas, the Asia Pacific, and the Middle East and Africa. Of these, the Americas will command the largest share in the market over the forecast period for high healthcare expenditure and increasing incidence of scorpion and snake bites.
The global anti-venom market in Europe is expected to hold the second-largest share over the forecast period. Factors propelling the global anti-venom market growth in the region include improvements in the reimbursement scenario and the government’s strong financial support for R&D activities.
The global anti-venom market in the Asia Pacific is expected to grow at the fastest pace over the forecast period. Factors propelling the global anti-venom market growth in the region include constant advances in pharmaceuticals and a huge patient pool. Besides, the increasing incidence of snake bites is also adding market growth.
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