The global anti-venom market has been prognosticated to display a
significantly fragmented characteristic because of the presence of
scores of companies. Transparency Market Research (TMR) has envisaged
players to keep pace with changing consumer preferences with the
adoption of diverse strategies and policies. Some players could take
to tactical collaborations and partnerships to stretch their regional
reach in the market. However, most others have been anticipated to
bolster their hold on the market while relying on new product
launches. A report authored by TMR has identified Bio-Pharmaceutical
Corporation Ltd., CSL Behring, and Bharat Serums and Vaccines Ltd. as
important players.
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The global anti-venom market has been foreseen in the TMR report to
be valued at a US$2.9 bn by the completion of 2025 while growing at a
CAGR of 6.8% during the forecast tenure 2017-2025. In 2016, the
market had stood at a valuation of US$1.6 bn. In terms of a
segmentation by anti-venom type, polyvalent had secured a king’s
share in the same year. In 2017, the Middle East and Africa (MEA) had
showcased its supremacy over the market by earning a revenue of
around US$0.7 bn.
There has been a serious health concern globally due to the increase
in the number of venomous bites reported with each passing year.
Snake bites have been roughly surveyed to be responsible for 81,000
to 138,000 deaths every year. Envenoming reports have been amounted
to 2.7 mn and there have been close to 5.4 mn people reported with
snakebites on an annual basis, according to the World Health
Organization (WHO). An estimate of 200 snake species out of 3,000
discovered globally have been found to be venomous, thus holding
medical significance. Regions with high incidences of snakebites,
which are more common than scorpion and spider bites, have been
projected to showcase a strong growth in the world anti-venom
market.
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Furthermore, anti-venom has been considered to be the only effective
treatment available for almost all kinds of venomous bites.
Comprehensive research studies conducted to gain a deeper
understanding of immunotherapy could augur well for the growth of the
world anti-venom market.
The international anti-venom market has been predicted to be
negatively influenced by factors such as scarce availability and
expensive production cost which lead to high pricing of the products
available in the industry. Moreover, snakebite has been researched to
be one of the most neglected tropical diseases worldwide. This could
also inhibit the growth of the market in the near future.
However, the market has been envisioned to ride on crucial growth
factors such as impressive efforts taken to reduce the gap between
supply and demand at both the global and regional level. Secondly,
rising focus on increasing the production of anti-venom products
could offer powerful prospects in the coming years. Anti-venoms with
more tolerance and efficiency have been in the pipeline with several
studies revealing the ability of immunoglobulin fragments to purify
anti-venoms. There could be a promising future for the market as
diagnosis methods continue to develop with latest advancements.
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