Bee Venom Extract Market Growth Rate Analysis:
Bee Venom Extract Market was estimated at USD x.xx million in 2019 and is anticipated to reach an extent of USD x.xx million, recording a considerable CAGR throughout the outlook period 2021-2026.
Apitoxin is the alternative name for bee venom that is a colorless bitter liquid. According to the American Apitherapy Association, apitherapy is the therapeutic means of using products made by bees, such as bee venom and honey. For ailments where western drugs don't work, bee venom treatment is used when bee venom is used for the purpose of treatment. Few of bee venom's functions are arthritis remedies, anti-inflammatory drugs, pain relief, and other reports include acne, psoriasis, and skin cancer scars. It takes almost 10,000 bee stings to produce one gram of bee venom. This makes the poison almost seven times more expensive than silver.
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Bee Venom Extract Market Growth Drivers and Restraints:
One of the main factors driving the global bee venom market is the heavy use of drugs. For example, bee venom has been used mainly in Europe for several decades, especially for the treatment of rheumatic diseases. Live bees, as well as venom extracts, are used for treatment in Europe. People are also getting into the bee venom business because it is one of the most profitable businesses and the harvester can increase his income by almost 200%. The additional main issue affecting the bee venom market is the invention in bee extraction equipment that allows producers to simply extract bee venom from the hive. The device is inserted below the brood chamber of a bee colony. However, the main limitation when collecting bee venom lies in the support techniques, which results in the death of the bee if not handled properly. Previously, bees were captured when the bees returned to their hives. They receive electrical shock waves and are squeezed between the rollers to sew. However, during this process, many bees are crushed and the venom is also contaminated. In another method, the bees are made to sting the plastic or rubber dam.
Bee Venom Extract Market Regional Growth Insights:
The global Bee Venom Extract market has been categorized by geography to offer a clear understanding of the global market, which is studied in the regions of North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa. The region that dominates the bee venom market is Europe. For the treatment of rheumatic diseases, the bee venom is widely used in the European region. Live bees and their venom extracts are used for medical treatments in Europe. Nations like Russia, New Zealand, Japan, and some other eastern areas have been implementing bee venom in several applications. It is in these areas where apitherapy is irreplaceable owing to the obtainability of the varied range of products. In the North American region, market growth will be slow. In the United States, bee venom is rarely used. The factor that restricts the market is that there is not much availability of beehives in this country. Due to the unavailability of honeybees, there is a lack of availability of poisons; therefore, appropriate clinical tests or analyzes cannot be performed.
Detailed Segmentation of the Bee Venom Extract Market:
Bee Venom Extract Market by Application:
Bee Venom Extract Market by Region:
Bee venom in pharmaceuticals is used to cure many diseases and few of the major diseases are completely cured. Bee venom is used to treat rheumatic diseases, multiple sclerosis, rheumatic fever, high blood pressure, sciatica, psoriasis, bruises, various skin conditions, and burns, among others. As per the Russian Institute, bee venom destroys the AIDS virus and cures cancer.
The powdered form of the extract is gaining ground on the market. The poisonous bee is more expensive and costs around $ 80 per gram. Bee venom has many therapeutic applications. Bee venom has an effect on the heart muscles and likewise controls the body's cholesterol levels. Bee venom also has antibiotic features.
Impact of COVID-19 on Bee Venom Extract Market
Covid-19 pandemic threatens lives and livelihoods. The disease spreads rapidly. It is no longer a regional problem, it is a global problem that requires a comprehensive response. We know that it will eventually regress, but we don't know how quickly it will happen. We also are acquainted with this shock is slightly unusual, affecting significant rudiments of both food demand and supply. We are at risk of an impending food crisis unless swift action is taken to protect the most vulnerable, keep global food supply chains alive, and mitigate the effects of the pandemic on the entire food system. Closure of borders, quarantines, and disruptions to the supply chain and trade could restrict access of people to sufficient diverse and nutritious food sources, especially in countries severely affected by the virus or already affected by the virus's high levels of food insecurity. But the world need not panic. Policymakers around the world must be careful not to repeat the mistakes made during the 2007-08 food crisis and turn this health crisis into a fully preventable food crisis. Yet as the virus spreads, cases increase, and measures tighten, there are countless ways to test and challenge the global food system in the weeks and months to come.
Leading Key Players involved in this research report:
The key players in the Bee Venom Extract Market are Bee Whisper, ApiHealth NZ Ltd, Fernz, and Abeeco Pure. The approaches implemented by key players in the industry are changing as various companies are gaining a strong foothold in the market. This would also hold a large share of the global bee venom market.
Bee Whisper had the largest share of the Bee Venom Extract Market in terms of sales and revenue in 2019.
Key players in the Bee Venom Extract Market include Abeeco Pure, Bee Whisper, Fernz, ApiHealth NZ Ltd, and others.
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
2.2 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
3.1 Executive Summary
3.2 Key Inferences
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
5.1.2 Cosmetic and Personal Care
5.1.4 Y-o-Y Growth Analysis, By Application
5.1.5 Market Attractiveness Analysis, By Application
5.1.6 Market Share Analysis, By Application
5.2.4 Y-o-Y Growth Analysis, By Form
5.2.5 Market Attractiveness Analysis, By Form
5.2.6 Market Share Analysis, By Form
6. Geographical Analysis
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
18.104.22.168 By Geographical Area
22.214.171.124 By Application
126.96.36.199 By Form
6.1.4 Market Attractiveness Analysis
188.8.131.52 By Geographical Area
184.108.40.206 By Application
220.127.116.11 By Form
6.1.5 Market Share Analysis
18.104.22.168 By Geographical Area
22.214.171.124 By Application
126.96.36.199 By Form
6.2 North America
6.1.2 United States
6.3.6 South Korea
6.5 Latin America
6.4.5 Rest of Latin America
6.6 Middle East & Africa
7. Strategic Analysis
7.1 PESTLE analysis
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 Bee Whisper
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 ApiHealth NZ Ltd
8.4 Abeeco Pure
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
a) List of Tables
b) List of Figures