Global Anti-Venom Market Overview
The global anti-venom market, valued at approximately USD 1.11 billion in 2023, is expected to grow at a CAGR of 6.46% from 2024 to 2032, reaching nearly USD 1.95 billion by 2032.
This market growth is driven by the rising global incidence of venomous snakebites, a significant public health concern. Anti-venom, produced from animal-derived antibodies, is the primary treatment for snakebite envenomation, effectively neutralizing venom toxins. However, barriers like limited distribution, high costs, and variable efficacy of available treatments highlight the need for broader accessibility and development of new anti-venom products, particularly in rural areas of Africa, Asia, and Latin America.
Key Trends in the Anti-Venom Market
One key factor propelling the growth of the anti-venom market is the increasing number of snakebite victims worldwide. The World Health Organization reports that about 5.4 million people are bitten by snakes annually, resulting in 1.8 to 2.7 million envenomations. Each year, 81,410 to 137,880 people die from snakebites, and many more suffer amputations or permanent disabilities. These alarming statistics highlight the critical need for effective anti-venom treatments, especially for vulnerable groups like agricultural workers and children.
Governments, non-profit organizations, and healthcare providers are working to improve access to anti-venom in high-risk regions, bolstering the market. The World Health Organization has established a Technical and Scientific Advisory Group to develop public-sector Target Product Profiles (TPPs) to address snakebite envenoming, with support from the Drugs for Neglected Disease Initiative (DNDi). This initiative aims to ensure safe, effective, and affordable anti-venom treatments for those in need.
Research and development efforts are also contributing to market growth. The Liverpool School of Tropical Medicine’s recent studies have shown promising results in developing new anti-venom treatments, suggesting that novel drug combinations could offer better outcomes for snakebite victims.
Additionally, new technologies for detecting snake venom, such as rapid snake venom detection kits and quick enzyme immunoassays, are boosting the market. Mergers, acquisitions, increased investments, and collaborations among companies are further strengthening the global anti-venom market. For example, Bharat Serums and Vaccines Ltd. partnered with the Indian Institute of Science (IISc) Bangalore to develop region-specific anti-venoms for India.
Leading Segment: Polyvalent Anti-Venom
The polyvalent anti-venom segment is poised to become a dominant force in the global market. These anti-venoms can neutralize toxins from multiple snake species, providing a broader scope of protection and reducing the need for multiple treatments. This versatility makes them more appealing to healthcare providers and patients alike.
India’s Significance in the Anti-Venom Market
India is expected to play a significant role in the global anti-venom market due to its high rate of snakebites and diverse snake species. WHO estimates that India experiences around five million snakebites annually, with up to 2.7 million envenomations and 81,000 to 138,000 deaths. The ‘big four’ snake species (common krait, Indian cobra, Russell’s viper, and saw-scaled viper) are responsible for about 90% of snakebites in India, with a significant impact in rural areas. The demand for anti-venom treatments in these regions is high, leading to a concerted effort by Indian pharmaceutical companies and research institutions to improve anti-venom production and accessibility.
Company News and Developments
Several key companies operate within the global anti-venom market, including Bharat Serums and Vaccines Limited (BSV), Boehringer Ingelheim International GmbH, Boston Scientific Corporation, CSL Limited, Merck & Co. Inc., Merck KGaA, Pfizer Inc., and Haffkine Bio-Pharmaceutical Corporation Limited.
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- March 2024: India’s Union Health Ministry launched a National Action Plan, adopting a One Health approach to halve snakebite deaths by 2030.
- April 2023: Terumo India, a subsidiary of Terumo Corporation, launched a program for Cathlab Directors to enhance care quality and efficiency in Cathlabs across India.
- July 2022: The Antivenom Research and Development Centre (AVRDC) was established at the Institute of Bioinformatics and Applied Biotechnology (IBAB) in Bengaluru’s Helix Biotech Park to improve anti-venom production.
These developments illustrate ongoing efforts to expand anti-venom accessibility and improve outcomes for snakebite victims, reinforcing the importance of continued innovation and collaboration in the anti-venom market.
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