What is Global Antivenom Market?
The Global Antivenom Market is a vast and dynamic sector that plays a crucial role in the healthcare industry. Antivenom, also known as antivenin, is a medication made from antibodies which is used to treat certain venomous bites and stings. This market encompasses the production, distribution, and sale of these lifesaving drugs on a global scale. The market's value was estimated at US$ 959.2 million in 2022, and it is projected to reach US$ 1283.7 million by 2029. This indicates a steady growth with a Compound Annual Growth Rate (CAGR) of 4.2% during the forecast period from 2023 to 2029. However, the market is not evenly distributed, with certain companies holding a larger market share. For instance, CSL, a biopharmaceutical company, is the leading manufacturer in the global Antivenom market, holding a market share of 27% in terms of revenue. Other key players in the market include Merck, BTG, Pfizer, Haffkine Bio-Pharmaceutical, Rare Disease Therapeutics, Flynn Pharma, Vins Bioproducts, Bharat Serums and Vaccines, Serum Biotech, and MicroPharm.
Polyvalent antivenom, Monovalent antivenom in the Global Antivenom Market:
The Global Antivenom Market is segmented into two main types: Polyvalent antivenom and Monovalent antivenom. Polyvalent antivenom is a type of antivenom that can neutralize the venom of more than one species of snake. This type of antivenom is particularly useful in regions where there are several venomous snake species, and it is not always possible to identify the snake species involved in the bite. On the other hand, Monovalent antivenom is specific to a particular species of snake. This type of antivenom is used when the snake species involved in the bite is known. Both types of antivenom play a crucial role in the treatment of venomous bites and stings, and their demand and production are influenced by various factors such as the prevalence of venomous species in a region, the availability of healthcare facilities, and the level of awareness among the population about the treatment options available.
Non-profit Institutions, Hospitals and Clinic in the Global Antivenom Market:
The Global Antivenom Market finds its usage in various areas such as Non-profit Institutions, Hospitals, and Clinics. Non-profit institutions play a significant role in the distribution of antivenom, especially in regions where healthcare facilities are scarce or inaccessible. These institutions often work in collaboration with healthcare providers and government agencies to ensure the availability of antivenom to the people in need. Hospitals and clinics are the primary healthcare facilities where antivenom is used. These facilities have the necessary infrastructure and trained personnel to administer antivenom and provide the required care to the patients. The demand for antivenom in these facilities is influenced by factors such as the incidence of venomous bites and stings, the availability of antivenom, and the readiness of the facilities to handle such cases.
Global Antivenom Market Outlook:
The global Antivenom market outlook highlights the market's growth and the key players contributing to this growth. The market was valued at US$ 959.2 million in 2022 and is expected to reach US$ 1283.7 million by 2029, growing at a CAGR of 4.2% during the forecast period 2023-2029. CSL is the leading manufacturer in the global Antivenom market, holding a market share of 27% in terms of revenue. Other significant players in the market include Merck, BTG, Pfizer, Haffkine Bio-Pharmaceutical, Rare Disease Therapeutics, Flynn Pharma, Vins Bioproducts, Bharat Serums and Vaccines, Serum Biotech, and MicroPharm. The largest consumption regions are Asia-Pacific, Middle East, and Africa, which together occupy about 77% of the market share in terms of volume.
| Report Metric | Details |
| Report Name | Antivenom Market |
| Accounted market size in 2023 | US$ 1002.9 in million |
| Forecasted market size in 2029 | US$ 1283.7 million |
| CAGR | 4.2 |
| Base Year | 2023 |
| Forecasted years | 2023 - 2029 |
| Segment by Type |
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| Segment by Application |
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| Segment by Region |
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| By Company | CSL, Merck, BTG, Pfizer, Haffkine Bio-Pharmaceutical, Rare Disease Therapeutics, Flynn Pharma, Vins Bioproducts, Bharat Serums and Vaccines, Serum Biotech, MicroPharm |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
