Anti-venom Market Anti-venom Market to Surpass US$ 729.9 Mn Threshold by 2026. Anti-venom Market was valued at US$ 504.9 Mn in 2018, and is projected to exhibit a CAGR of 4.7% during the forecast period (2018–2026)
Global Anti-venom Market, by Animal Type (Snake, Scorpion, Spider, and Others), by Anti-venom Type (Monovalent and Polyvalent), by Distribution Channel (Hospital, Retail Pharmacies, and Others) and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) was valued at US$ 504.9 Mn in 2018, and is projected to exhibit a CAGR of 4.7% during the forecast period (2018–2026), as highlighted in a new report published by Coherent Market Insights. Increasing approval and launch of new anti-venom is expected to support global anti-venom market growth over the forecast period.
For instance, in October 2018, Silanes Laboratories received the U.S. Food and Drug Administration (FDA) approval for its new anti-venom namely ANAVIP. Anavip {Crotalidae Immune F(ab’)2 (Equine)} is an equine-derived antivenin indicated for the management of adult and pediatric patients with North American rattlesnake envenomation.
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In 2018, Rare Disease Therapeutics, Inc., a partner of Silanes Laboratories launched Anavip in the U.S. market. Launch of such novel product is expected to increase access of quality anti-venoms for cases of snake bite.
Various universities focuses on research and development activities for the development of novel anti-venom for various type of animal bite. For instance, Calorx Teachers' University is developing an anti-venom for treatment of snake bite, currently the product is in Phase 2 clinical trial. Presence of such new product in pipeline is expected to support anti-venom market growth during the forecast period.
Key players in the market are involved in strategic mergers and collaborations with various companies and organizations in order to develop novel anti-venoms and to gain major anti-venom market share and some are collaborating to increase awareness in key regions regarding use to anti-venom.
Browse 35 Market Data Tables and 30 Figures spread through 175 Pages and in-depth TOC on Global Anti-venom Market By Animal Type (Snake, Scorpion, Spider, and Others), by Anti-venom Type (Monovalent and Polyvalent), by Distribution Channel (Hospital, Retail Pharmacies, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa) - Global Forecast to 2026
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For instance, Rare Disease Therapeutics Inc. in collaboration with Instituto Bioclon, S.A. de C.V. and Laboratorios Silanes, S.A. de C.V. is developing an anti-venom, Analatro, for treatment of black widow spider bites in patients who could be treated within 24 hours of symptom onset. Launch of such novel products in the market is expected to support market growth in the near future.
Furthermore, in April 2018, Seqirus (a subsidiary of global biotechnology company CSL Limited) entered into new partnership to save the lives of people bitten by venomous snakes in Papua New Guinea (PNG), with the PNG Department of Health, the Australian High Commission, and the Charles Campbell Toxinology Centre (CCTC), at the University of PNG. As per the partnership, Seqirus Pty Ltd will provide an annual donation of 600 vials of snake and marine creature anti-venoms to PNG
Key Takeaways of the Anti-venom Market:
The global anti-venom market is expected to exhibit a CAGR of 4.7% during the forecast period (2018 – 2026), owing to frequent product launches and approvals, and robust pipeline of novel anti-venoms
Asia Pacific anti-venom market is expected to account largest market share, owing to high incidence of snake bite in region such as India, Bangladesh, Nepal, and Australia. For instance, according to the data published by Journal of Pharmacology & Clinical Toxicology, in June 2018, in Bangladesh around 623.4 cases of snake bites are reported per 100,000 person annually.
Approval and launch of new anti-venom in the U.S. is expected to support growth of the North America anti-venom market during the forecast period
Major players operating in the anti-venom market include BTG plc. Laboratorios Silanes, CSL Limited, Pfizer, Inc., Merck & Co., Inc., Bharat Serums and Vaccines Limited, Haffkine Bio-Pharmaceutical Corporation Ltd., Vins Bioproducts Limited, Incepta Pharmaceuticals Ltd., and Rare Disease Therapeutics Inc.
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Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.
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