Anti-Venom Market Overview
Snake antivenom, another crucial segment within the Anti-Venom Market, specifically targets venom from snake bites, providing tailored treatment for envenomation caused by specific snake species. Snake antivenom is developed through the immunization of animals, such as horses or sheep, with venom proteins from target snake species. The resulting antibodies produced by these animals are then harvested and purified to create antivenom medications for human use. Snake antivenom is administered intravenously to neutralize venom toxins and mitigate the effects of envenomation, including tissue damage, bleeding, and systemic effects such as neurotoxicity or hemotoxicity. By offering specialized therapies for snakebite envenomation, snake antivenom plays a crucial role in reducing morbidity and mortality associated with snakebite injuries, particularly in regions with high snakebite incidence.
The Anti-Venom Market insights report has estimated the industry to be worth USD 0.6 billion in 2022. The Anti-Venom market area is expected to soar from USD 0.65 billion in 2023 to USD 1.29 billion by 2032, at a compound annual growth rate (CAGR) of 8.90% during the period of forecasting (2023 - 2032).
Segmentation
The global anti-venom market is segmented on the basis of type, type of species, mode of action, product type, and end user.
The global anti-venom market, by type, is categorized into polyvalent heterologous antivenom, monovalent heterologous antivenom, homologous antivenom, and small molecule anti-toxins.
By species type, the global anti-venom market is segmented into snakes, scorpions, spiders, and others. The snake segment is further classified as a common cobra, common krait, Russell Viper, and others.
Based on the mode of action, the global anti-venom market is divided into cytotoxic, neurotoxic, haemotoxic, cardiotoxic, myotoxic, and others.
The product types in the global anti-venom market include snake anti-venom, scorpion anti-venom, spider anti-venom, and others.
End-user-wise, the global anti-venom market is segmented into hospitals, clinics, ambulatory surgical centers, and others.
Regional Analysis
The regions among which the global anti-venom market is segmented into are Asia Pacific, Europe, Americas, and the Middle East and Africa.
At a global level, the Americas will be leading the anti-venom market in the coming years on account of the increasing cases of snake bites, as well as scorpion bites coupled with the high healthcare expenditure.
Europe will be securing the second position in the global anti-venom market, due to the strong financial support by the government for research and development along with the improvement in reimbursement scenario, driving the Europe anti-venom market.
Furthermore, Asia Pacific is touted to be the fastest growing anti-venom market, resulting from the massive patient pool coupled with the increasing advancements in pharmaceuticals.
Lastly, the market in the Middle East and Africa account for the lowest share of the global market owing to the restricted economic development, lack of technical knowhow, and poor medical facilities.
Competitive Landscape
Thermo Fisher Scientific, Ypsomed Holding AG, Artsana S.p.a., B. Braun Melsungen AG, Becton, Dickinson and Company, Allison Medical, Inc., cHill-Rom, Hu-Friedy Mfg. Co., LLC, Johnson Johnson Services, Inc, Medline Industries, Inc., Medtronic plc, Allison Medical, Inc., Owen Mumford, Ltd., Roboz Surgical Instrument, Smiths Medical, Stryker Corporation, Terumo Corporation, Novo Nordisk A/s, UltiMed, Inc., Boston Scientific Corporation, are some of the leading playeers mentioned in the anti-venom market outlook report.
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