Snake Antivenom Market is projected to reach a value of $636.85 million by 2032, exhibiting a Compound Annual Growth Rate (CAGR) of 7.5%

The global snake antivenom market is poised for significant growth in the coming years, driven by the increasing prevalence of snakebites, the need for more effective and region-specific antivenoms, and growing awareness of the importance of timely treatment.

Market Overview

The global snake antivenom market size is expected to reach USD 636.85 Million by 2032, exhibiting a robust compound annual growth rate (CAGR) of 7.5% during the forecast period. This growth reflects the increasing demand for effective and accessible antivenoms to combat the significant public health burden of snakebites worldwide.

Some of the major players operating in the global market include:

Bharat Serums and Vaccine Limited
Bioclon Institute
Boehringer-Ingelheim Thermo Fisher
Boston Scientific Corporation
BTG International Inc.
CSL Limited
Hamilton Company
Incepta Vaccine Ltd.
Inosan Biopharma
Merck & Co. Inc.
MicroPharm
Novo Nordisk A/S
Owen Mumford Ltd.
Pfizer Inc.
Rare Disease Therapeutics Inc.
VINS Bioproducts Limited

Key Market Drivers:

High Prevalence of Snakebites: Snakebites remain a significant public health issue, particularly in tropical and subtropical regions. Millions of people are bitten by snakes each year, resulting in a substantial number of deaths and disabilities.
Need for Region-Specific Antivenoms: The effectiveness of antivenom can vary significantly depending on the species of snake and the geographical region. The development of region-specific antivenoms is crucial to improve treatment outcomes.
Growing Awareness and Education: Increasing awareness about snakebite prevention and the importance of timely access to antivenom is driving demand for these critical medical countermeasures.
Research and Development: Ongoing research and development efforts are focused on developing more effective, safer, and affordable antivenoms, including recombinant antivenoms and novel therapeutic approaches.

𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰:

Snake Antivenom Market, Regional Outlook (Revenue – USD Million, 2019-2032)

North America
- Type Outlook
  - Polyvalent Heterologous
  - Monovalent Heterologous
  - Homologous
  - Small Molecule
- Mode of Action Outlook
  - Cytotoxic
  - Neurotoxic
  - Haemotoxic
  - Cardiotoxic
  - Myotoxic
  - Others
- End User Outlook
  - Hospitals & Clinics
  - Ambulatory Surgical Centers
  - Research Institutes
  - Others
Europe
- Type Outlook
  - Polyvalent Heterologous
  - Monovalent Heterologous
  - Homologous
  - Small Molecule
- Mode of Action Outlook
  - Cytotoxic
  - Neurotoxic
  - Haemotoxic
  - Cardiotoxic
  - Myotoxic
  - Others
- End User Outlook
  - Hospitals & Clinics
  - Ambulatory Surgical Centers
  - Research Institutes
  - Others

This section of the research report provides an analysis of the geographic landscape of the Snake Antivenom Market. It covers several aspects like industry share, gross margin and growth rate for all the major regions of the industry. By going through the regional analysis section, businesses can better understand the needs and wants of their target market. Also, it enables companies to make informed decisions about the products or services they’re providing. Furthermore, the research report provides an in-depth analysis of all the major sub-regions for a comprehensive understanding of the market.

𝐄𝐱𝐩𝐥𝐨𝐫𝐞 𝐓𝐡𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐂𝐨𝐦𝐩𝐫𝐞𝐡𝐞𝐧𝐬𝐢𝐯𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 𝐇𝐞𝐫𝐞:

https://www.polarismarketresearch.com/industry-analysis/snake-antivenom-market

Recent Developments:

Bharat Serums and Vaccines Collaboration: In August 2022, Bharat Serums and Vaccines collaborated with the ‘Evolutionary Venomics Lab’ at the IISc Bangalore, to develop region-based antivenoms for snakebites in India. This collaboration aims to address the specific needs of the Indian population and improve the effectiveness of antivenom treatment.
Ophirex Inc.’s Fast Track Designation: In March 2022, Ophirex Inc. received Fast Track designation from the U.S. Food and Drug Administration for varespladib-methyl, a novel drug candidate for the treatment of snakebite. This designation aims to expedite the development and review of this potentially life-saving medication.

Conclusion

The global snake antivenom market is poised for continued growth, driven by the increasing prevalence of snakebites, the need for more effective and accessible treatment options, and ongoing research and development efforts. Continued innovation in antivenom development and improved access to these critical medications are crucial for reducing the global burden of snakebite envenomation.

Table of Contents:

Global Snake Antivenom Market Insights
4.1. Snake Antivenom Market – End User Snapshot
4.2. Snake Antivenom Market Dynamics
4.2.1. Drivers and Opportunities
4.2.1.1. Growing incidences of snakebites and rising investments on R&D activities spurring the global market growth.
4.2.1.2. Government Initiatives and Funding.
4.2.2. Restraints and Challenges
4.2.2.1. High Costs of Antivenom Production.
4.3. Porter’s Five Forces Analysis
4.3.1. Bargaining Power of Suppliers (Moderate)
4.3.2. Threats of New Entrants: (Low)
4.3.3. Bargaining Power of Buyers (Moderate)
4.3.4. Threat of Substitute (Moderate)
4.3.5. Rivalry among existing firms (High)
4.4. PESTEL Analysis
4.5. Snake Antivenom Market End User Trends
4.6. Value Chain Analysis
4.7. COVID-19 Impact Analysis
5. Global Snake Antivenom Market, by Type
5.1. Key Findings
5.2. Introduction
5.2.1. Global Snake Antivenom Market, by Type, 2019-2032 (USD Million)
5.3. Polyvalent Heterologous
5.3.1. Global Snake Antivenom Market, by Polyvalent Heterologous, by Region, 2019-2032 (USD Million)
5.4. Monovalent Heterologous
5.4.1. Global Snake Antivenom Market, by Monovalent Heterologous, by Region, 2019-2032 (USD Million)
5.5. Homologous
5.5.1. Global Snake Antivenom Market, by Homologous, by Region, 2019-2032 (USD Million)
5.6. Small Molecule
5.6.1. Global Snake Antivenom Market, by Small Molecule, by Region, 2019-2032 (USD Million)
6. Global Snake Antivenom Market, by Mode of Action
6.1. Key Findings
6.2. Introduction
6.2.1. Global Snake Antivenom Market, by Mode of Action, 2019-2032 (USD Million)
6.3. Cytotoxic
6.3.1. Global Snake Antivenom Market, by Cytotoxic, by Region, 2019-2032 (USD Million)
6.4. Neurotoxic
6.4.1. Global Snake Antivenom Market, by Neurotoxic, by Region, 2019-2032 (USD Million)
6.5. Haemotoxic
6.5.1. Global Snake Antivenom Market, by Haemotoxic, by Region, 2019-2032 (USD Million)
6.6. Cardiotoxic
6.6.1. Global Snake Antivenom Market, by Cardiotoxic, by Region, 2019-2032 (USD Million)
6.7. Myotoxic
6.7.1. Global Snake Antivenom Market, by Myotoxic, by Region, 2019-2032 (USD Million)
6.8. Others
6.8.1. Global Snake Antivenom Market, by Others, by Region, 2019-2032 (USD Million)