prevalence of venomous bites and stings is driving the Anti-Venom Market
Technavio analyzes that the Anti-Venom Market is expected to grow at a CAGR of 7.3% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 444.7 million.There are various factors that contribute to the growth of the market. The Anti-Venom market holds significance due to the prevalence of venomous bites and stings from various creatures, including snakes, spiders, and scorpions. These incidents can lead to severe health complications and even death if left untreated. Anti-Venom is an essential medical intervention to counteract the effects of venom and save lives. The global market for Anti-Venom is driven by the increasing number of venomous encounters and the growing awareness of the importance of timely treatment.
The polyvalent segment of the global anti-venom market holds a significant market share due to its ability to neutralize venoms from various species of venomous snakes and creatures. This type of anti-venom is particularly valuable in regions with diverse and often unidentified venomous species, enabling effective treatment during medical emergencies. With broad-spectrum efficacy, polyvalent anti-venoms save lives in instances where immediate identification of the specific venom is challenging. These anti-venoms typically consist of antibodies targeting venoms from multiple species, making them indispensable in areas with high incidences of snakebites. The biotechnology industry's advancements in enzyme immunoassay and species insights contribute to the production of more effective and specific polyvalent anti-venoms, further bolstering their demand in the healthcare sector.
Know which region is leading the market growth by requesting a sample report
Anti-Venom Market Segmentation
As per our research findings, here are some of the key competitors that are leading the industry
Find out what is trending in the market by accessing the free PDF report
The Anti-Venom market encompasses various types of medications designed to counteract the effects of venom from venomous animals, including snakes, spiders, scorpions, marine creatures, jellyfish, and cone snails. These antidotes, also known as venom antiserums, save lives in medical emergencies caused by venomous bites and stings. Anti-Venom is crucial for snake bite victims and crucial in medical research. Biotechnology plays a significant role in producing Polyvalent and Monovalent Antivenom for treating Neurotoxic snake bites. Healthcare institutions offer Anti-venom treatments at clinics, reducing mortality rates from Venomous species attacks. Animal Attacks, Snake Bite Avoidance, and a Snakebite helpline are essential services in this field.
The anti-venom market is a significant segment of the global pharmaceuticals industry, focusing on the research and development (R&D) or production of antivenoms, venom antiserums, and other medications for treating venomous bites and stings from animals such as snakes, spiders, scorpions, and marine creatures. According to Technavio, the global pharmaceuticals market, which encompasses manufacturers and providers of equipment, supplies, pharmaceuticals, biotechnology, and life sciences tools and services, is projected to grow due to several key factors. One major driver is the increasing global population aging, with Europe and the US forecasted to have over 25% of their populations aged 60 and above by 2030 and 2050, respectively, increasing the demand for healthcare solutions, including anti-venoms.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
Safe and Secure SSL Encrypted
One user only.
Quick & easy download option
Unlimited user access (Within your organization).
Complimentary Customization Included
*For Enterprise license, go to checkout page
Get the report (PDF) sent to your email within minutes.
