Anti-Venom Market Research Report: By Type (Polyvalent, Monovalent, Others), by Species (Snake, Others), by Mode of Action (Cytotoxic, Neurotoxic, Haemotoxic, Others), by Products (Snake Anti-Venom, Others), and by End-User – Global Forecast Till 2027
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The recent report by Market Research Future (MRFR) predicts the global anti-venom market value will be expanding with a healthy CAGR of 6.5% over the forecast period (2017–2023).
Segmentation
The global anti-venom market is segmented on the basis of type, type of species, mode of action, product type, and end user.
The global anti-venom market, by type, is categorized into polyvalent heterologous antivenom, monovalent heterologous antivenom, homologous antivenom, and small molecule anti-toxins.
By species type, the global anti-venom market is segmented into snakes, scorpions, spiders, and others. The snake segment is further classified as a common cobra, common krait, Russell Viper, and others.
Based on the mode of action, the global anti-venom market is divided into cytotoxic, neurotoxic, haemotoxic, cardiotoxic, myotoxic, and others.
The product types in the global anti-venom market include snake anti-venom, scorpion anti-venom, spider anti-venom, and others.
End-user-wise, the global anti-venom market is segmented into hospitals, clinics, ambulatory surgical centers, and others.
Regional Analysis
The regions among which the global anti-venom market is segmented into are Asia Pacific, Europe, Americas, and the Middle East and Africa.
At a global level, the Americas will be leading the anti-venom market in the coming years on account of the increasing cases of snake bites, as well as scorpion bites coupled with the high healthcare expenditure.
Europe will be securing the second position in the global anti-venom market, due to the strong financial support by the government for research and development along with the improvement in reimbursement scenario, driving the Europe anti-venom market. As per the data furnished by Eurostat, it is noted that among all the EU Member States, the highest value of healthcare expenditure has been recorded in Germany in the year 2014, which was around EUR 321 billion, followed by France at the value of EUR 237 billion and United Kingdom valued at EUR 223 billion. In the year 2016, the R&D expenditure for the pharmaceutical industry was at the value of EUR 35000 million, stated by the European Federation of Pharmaceutical Industries and Association.
Furthermore, Asia Pacific is touted to be the fastest growing anti-venom market, resulting from the massive patient pool coupled with the increasing advancements in pharmaceuticals. As per the Indian Brand Equity Foundation (IBEF), the generics market in the country was around USD 26.1 billion in the year 2016. Moreover, according to the statistics by the World Health Organization (WHO), around 2.8 million people are bitten by snakes, and close to 46 900 people succumb to snakebites every year.
Lastly, the market in the Middle East and Africa account for the lowest share of the global market owing to the restricted economic development, lack of technical knowhow, and poor medical facilities.
Competitive Landscape
Thermo Fisher Scientific, Ypsomed Holding AG, Artsana S.p.a., B. Braun Melsungen AG, Becton, Dickinson and Company, Allison Medical, Inc., cHill-Rom, Hu-Friedy Mfg. Co., LLC, Johnson & Johnson Services, Inc, Medline Industries, Inc., Medtronic plc, Allison Medical, Inc., Owen Mumford, Ltd., Roboz Surgical Instrument, Smiths Medical, Stryker Corporation, Terumo Corporation, Novo Nordisk A/s, UltiMed, Inc., Boston Scientific Corporation, are some of the leading companies in the global anti-venom market.
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