As per our report, the size for the Antivenom Market at a global level 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.
Antivenom is a biological product that is used for the treatment of poisonous bites or stings of spiders, snakes, scorpions, and others. Snake bites are one of the major threats which can be fatal and every year so many people are dying around the world due to lack of treatment on time. Antivenoms should be used with proper knowledge while treating the snake bites, or else it may not be active or may lead to other side effects. There are two types of antivenom which are known as monovalent and polyvalent.
The rise in the incidence of snake bites and people getting aware of treatments due to modernization and globalization are leading to constant growth in demand of the antivenom market across the world. Government authorities in developing countries are taking measures to prevent loss of life due to snake bites and other venomous bites to enhance healthcare services which are fuelling the growth of the antivenom market. Also, medical research organizations are continually developing effective treatment methods and antivenom to tackle the seriousness of the venomous bites, which is catalyzing the business.
Uncertainties in standards of quality and improper application of antivenom are limiting the growth rate of the global antivenom market. High costs associated with manufacturing and lack of proper investments by public and private organizations and inefficient manufacturing procedures are restraining the growth of the global antivenom market. Other factors that are challenging the growth of the market are inappropriate regulations, shortage of skilled professionals in drug control laboratories, lack of specifications and proper knowledge regarding the types of toxic and lethal venom types which would affect the treatment procedure, belief systems in some countries like India and particularly in rural areas where the incidence of snake bites are more frequent, and lack of proper distribution networks of venom due to inadequate infrastructure of healthcare in developing countries.
Rising awareness among people and recognizing the snakebite as a medical emergency in rural areas is expected to boost the demand for treatments for snakebites, which will offer growth opportunities for the antivenom market during the forecast period. Rising focus on research and development activities from the private and public organizations for developing high-quality antivenoms owing to immense advancements in medical science and technology to meet the continuously rising demand of the antivenoms due to rise in mortality rate is expected to create more growth opportunities for the market over the forecast period. The market is supposed to offer a number of opportunities for the key players owing to the unmet demand of antivenoms in countries like Africa, Asia, and Latin America. An increasing number of novel product developments and launches and a more natural approval process are also foreseen to create lucrative growth opportunities for the global antivenom market during the forecast period.
Major Happenings in this market in the recent past:
REPORT COVERAGE:
|
REPORT METRIC |
DETAILS |
|
Market Size Available |
2018 – 2024 |
|
Base Year |
2018 |
|
Forecast Period |
2019 - 2024 |
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Segments Covered |
By Type, Animal and Region |
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Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
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Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
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Market Leaders Profiled |
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 |
This research report on the Global Antivenom Market has been segmented and sub-segmented into the following categories and evaluated market size and forecast until 2024.
Antivenom Market Analysis - By Type
Antivenom Market Analysis - By Animal
On the basis of animal, the Snakes segment is dominating the market and is likely to continue the trend during the forecast period. Factors such as the occurrence rate of snake bites in countries like India, Pakistan, Bangladesh, and other Asian and African countries are leading to a constant rise in demand for antivenom in these countries. Increasing awareness among people in rural areas about the seriousness of snakebites, unmet demand conditions of the antivenoms, improvisation of regulatory frameworks and approval procedures and increased government investments for developing high-quality antivenoms are contributing to the growth of snake segment in this market.
Regional Analysis:
North America is the dominating Global Antivenom Market accounting for a share of approximately 39.0% followed by Europe in 2016. Asia-Pacific is estimated to be the fastest-growing region with a CAGR of 8.59% during the forecast period of 2019 -2024.
Companies leading the Global Antivenom Market profiled in the report are:
1. Introduction
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.1 Introduction
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3. Overview
3.1 Executive Summary
3.2 Key Inferences
3.3 Epidemology
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1 Type
5.1.1 Introduction
5.1.2 Vaccines
5.1.3 Hyperimmune Sera
5.1.3.1 Homologous
5.1.3.2 Heterologous
5.1.4 Y-o-Y Growth Analysis, By type
5.1.5 Market Attractiveness Analysis, By Type
5.1.6 Market Share Analysis, By Type
5.2 Animal
5.2.1 Introduction
5.2.2 Snakes
5.2.3 Scorpions
5.2.4 Spiders
5.2.5 Others
5.2.6 Y-o-Y Growth Analysis, By Animal
5.2.7 Market Attractiveness Analysis, By Animal
5.2.8 Market Share Analysis, By Animal
6. Geographical Analysis
6.1 Introduction
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
6.1.3.1 By Geographical Area
6.1.3.2 By Type
6.1.3.2 By Animal
6.1.4 Market Attractiveness Analysis
6.1.4.1 By Geographical Area
6.1.4.2 By Type
6.1.4.2 By Animal
6.1.5 Market Share Analysis
6.1.5.1 By Geographical Area
6.1.5.2 By Type
6.1.5.2 By Animal
6.2 North America
6.1.1 Introduction
6.1.2 United States
6.1.3 Canada
6.3 Europe
6.2.1 Introduction
6.2.2 U.K
6.2.3 Spain
6.2.4 Germany
6.2.5 Italy
6.2.6 France
6.4 Asia-Pacific
6.3.1 Introduction
6.3.2 China
6.3.3 India
6.3.4 Japan
6.3.5 Australia
6.3.6 South Korea
6.5 Latin America
6.4.1 Introduction
6.4.2 Brazil
6.4.3 Argentina
6.4.4 Mexico
6.4.5 Rest of Latin America
6.6 Middle East & Africa
6.5.1 Introduction
6.5.2 Middle-East
6.5.3 Africa
7.Strategic Analysis
7.1 PESTLE analysis
7.1.1 Political
7.1.2 Economic
7.1.3 Social
7.1.4 Technological
7.1.5 Legal
7.1.6 Environmental
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8.Market Leaders' Analysis
8.1 Instituto Bioclon, S.A. de C.V.
8.1.1 Overview
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 Pfizer AG
8.3 CSL Limited
8.4 Roche
8.5 Merck & Co
8.6 Rare Disease Therapeutics, Inc.
8.7 Vins Bioproducts Limited
8.8 BTG Plc
8.9 Incepta Vaccine Ltd
8.10 Bharat Serim and Vaccines Limited (BSV)
9. Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10. Market Outlook and Investment Opportunities
Appendix
a) List of Tables
b) List of Figures
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