Dublin, Dec. 30, 2020 (GLOBE NEWSWIRE) -- The "Anti-venom Market - Growth, Trends, and Forecasts (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.
The anti-venom market is expected to register a CAGR of nearly 4.7% during the forecast period.
Snakebite is a neglected public health issue in many tropical and subtropical countries. According to World Health Organization (WHO), about 5.4 million snake bites occur each year, resulting in up to 2.7 million envenoming's (poisoning from snake bites) and at least 81,000 to 131,000 people die due to snake bites. Moreover, around three times as many amputations and other permanent disabilities
Due to the involvement of international health organizations in producing safe and effective anti-venoms, people are aware of the anti-venom drugs.
Anti-venom production is difficult and expensive. The cost of several anti-venoms has increased dramatically over the last two decades, making treatment unaffordable for most of the people who are in need of it. This is projected to hinder the market growth over the forecast period.
Furthermore, inappropriate procurement and medicine distribution strategies in few countries contribute to manufacturers ceasing the production of anti-venom or increasing the prices of anti-venom.
Key Market Trends
Polyvalent Antivenoms Segment is Poised to Register Robust Growth.
Polyvalent antivenoms comprise particular antibodies that are capable of counteracting a number of homologous venoms from various species/genera. Polyvalent antivenoms can save lives of victims of snake envenomation, even when the culprit snake is unknown, most usual case, about 80% of all the time, and when a monovalent antivenom can not be chosen.
- Polyvalent anti-venoms are beneficial in regions where there is a presence of large number of venomous species and when it is difficult to produce monovalent antivenoms against all of them.
- Furthermore, it is now possible to formulate polyvalent antivenoms with high potencies analogous to those of the equivalent monovalent antivenoms. With good manufacturing processes, these antivenoms have been shown to cause few and minor adverse reactions.
- Moreover, polyvalent antivenoms demonstrated a wide range of Para specific neutralization of poisons from different species/genera, even from distant geographic areas. Lastly, it is less expensive and easier to produce and handle. Thus, the market for polyvanent antivenoms segment anticipated to have significant growth.
The United States is Expected to Retain Largest Market Share During the Forecast Period
North America anti-venom market is projected to hold significant share with respect to demand and revenue. According to the Center for Disease Control and Prevention (CDC), it has been estimated that 7,000-8,000 people every year receive venomous bites in the United States.
- Furthermore, the majority of bites in the United States occur in the south-western part of the country, as the rattlesnake population in the eastern states are much lower.
- In October 2018, Rare Disease Therapeutics, Inc. (RDT) has launched ANAVIP (Crotalidae Immune F(ab')2 (Equine)) an equine-derived antivenin indicated for the management of adult and pediatric patients with North American rattlesnake envenomation.
- The United States contributes a major share to the anti-venom market owing to the establishment of snake poison control centres, increase in antivenom products, and rise in clinical trial conducting firms for anti-venom products, and established healthcare facilities in the region.
Competitive Landscape
Several developing countries with established biotechnological facilities have local scientific expertise, which creates favorable conditions to establish local antivenom manufacturing practices. Countries, such as Brazil, Costa Rica, Egypt, France, India, Mexico, South Africa, and Thailand, have large, well-established anti-venom manufacturers. Many companies from Costa Rica to Spain to India are developing new techniques to produce economically and medically promising African polyvalent anti-venoms.
The major market players operating in anti-venom market include BTG PLC, Pfizer Inc., Merck KGaA (Sigma Aldrich), Boehringer Ingelheim and CSL Limited among others.
Key Topics Covered:
1 INTRODUCTION
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Awareness on Antivenoms Available
4.2.2 Technological Advancements
4.3 Market Restraints
4.3.1 Complexities Involved in The Preparation of the Correct Immunogens
4.3.2 Lack of Regulatory Capacity for the Control of Antivenoms in Countries
4.4 Porter's Five Force Analysis
5 MARKET SEGMENTATION
5.1 By Species
5.1.1 Snake
5.1.2 Scorpion
5.1.3 Spiders
5.1.4 Other Species
5.2 By Antivenom Type
5.2.1 Polyvalent Antivenoms
5.2.2 Monovalent Antivenom
5.2.3 Others
5.3 Geography
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Pfizer Inc.
6.1.2 Laboratorios Silanes (Bioclon Institute)
6.1.3 CSL Limited
6.1.4 BTG PLC
6.1.5 Merck & Co.
6.1.6 Merck KGaA (Sigma Aldrich)
6.1.7 Flynn Pharma (Micropharm)
6.1.8 Boehringer Ingelheim
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
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