Global Polyvalent Anti-Venom Market – Industry Trends and Forecast to 2029

Market Analysis and Size

In recent years, the polyvalent anti-venom market is anticipated to grow rapidly during the forecast period. In many tropical and subtropical nations, snakebite is one of the most ignored public health issues. As per the World Health Organization (WHO), almost 5.4 million snakebites actually happen each year, causing 2.7 million envenoming (poisoning from snake bites) and approximately 81,000 to 131,000 deaths. Furthermore, it frequently results in three times the number of amputations and other irreversible impairments. This lead to the introduction of polyvalent anti-venom in the market.

Data Bridge Market Research analyses that the polyvalent anti-venom market was valued at USD 436.05 million in 2021 and is expected to reach USD 629.67 million by 2029, registering a CAGR of 4.70% during the forecast period of 2022 to 2029. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Market Definition

Purified antibodies called anti-venoms are used to prevent snake venom from attaching to tissues and causing severe allergic reactions, blood clotting, muscular injury, or nervous system difficulties. They can assist in reducing mortality and morbidity by preventing or reversing the consequences of snakebite envenomation. They're harvested from a variety of animals, including snakes, funnel web spiders, stonefish, redback spiders, and box jellyfish, utilizing a variety of techniques. Monovalent and polyvalent anti-venoms are two different forms of anti-venoms. Anti-venoms that are polyvalent are made by fractionating plasma from animals that have been immunized with a variety of venoms from various venomous snake species.

Report Scope and Market Segmentation

Polyvalent Anti-Venom Market Dynamics

Drivers

• Rise in the incidence of animal bite

The rising incidence of animal bite such as snake and scorpion bites is anticipated to enhance the antifungal drugs market's growth rate. In the foreseeable future, a high prevalence of poisonous animal bites is anticipated to be a primary factor driving demand for anti-venom.

• Increasing investment for healthcare infrastructure

Another significant factor influencing the growth rate of polyvalent anti-venom market is the rising healthcare expenditure which helps in improving its infrastructure.

Furthermore, rising initiatives by public and private organizations to spread awareness about snake bites and its treatment will expand the polyvalent anti-venom market. Additionally, high disposable income and increasing level of investment for drug development will enhance the market's growth rate. Snake venom detection kits with a quick enzyme immunoassay for in vitro detection and immunological identification of snake venom in bite site samples, urine, plasma, blood, or other tissues and body fluids have been introduced. This is expected to provide lucrative growth prospects for industry players while also propelling the overall market.

Opportunities

• Increase in the number of research and development activities       

Moreover, the market's growth is fueled by an increase in the number of research and development activities. This will provide beneficial opportunities for the polyvalent anti-venom market growth. Along with this, surge in drug approvals and new product launches will further propel the market's growth rate.

Moreover, rising investment for the development of advanced technologies and an increase in the number of emerging markets will provide beneficial opportunities for the polyvalent anti-venom market growth during the forecast period.

Restraints/Challenges

On the other hand, the high cost associated with polyvalent anti-venoms and treatment procedure with anti-venoms will obstruct the growth rate of market. The dearth of regulatory capacity for the control of anti-venoms and lack of healthcare infrastructure in developing economies will challenge the polyvalent anti-venom market. Additionally, side effects of polyvalent anti-venom will act as market restrain and further impede the growth rate of market during the forecast period of 2022-2029.

This polyvalent anti-venom market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the polyvalent anti-venom market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Patient Epidemiology Analysis

Polyvalent anti-venom market also provides you with detailed market analysis for patient analysis, prognosis and cures. Prevalence, incidence, mortality, adherence rates are some of the data variables that are available in the report. Direct or indirect impact analyses of epidemiology to market growth are analysed to create a more robust and cohort multivariate statistical model for forecasting the market in the growth period.

COVID-19 Impact on Polyvalent Anti-Venom Market

Over the projected period, the polyvalent anti-venom market is expected to be constrained by the COVID-19 outbreak. Since its emergence in December 2019, the COVID-19  virus has spread to nearly every country on the planet, prompting the World Health Organization (WHO) to declare it a public health emergency. COVID-19, a new coronavirus, was identified as the causal agent in the pneumonia cases. This virus spread quickly over the world, killing a large number of people. COVID-19 was labelled a global pandemic by the World Health Organization (WHO) in March 2020, and rigorous measures to prevent the disease's spread were recommended. Since then, the pandemic has delayed the expansion of the healthcare sector and disrupted the supply chain. Furthermore, governments in many nations have imposed nationwide lockdowns to halt the spread of COVID-19. Similarly, healthcare organizations in numerous nations throughout the world are having difficulty continuing their supply chain activities. The supply chain slowness has also hampered the polyvalent anti-venom market.

Recent Development

• In April 2021, The US Food and Drug Administration (FDA) granted a new expanded indication for ANAVIP, an equine-derived antivenin, to manage adult and paediatric patients with North American Pit Viper envenomation, according to Rare Disease Therapeutics, Inc.

Global Polyvalent Anti-Venom Market Scope

The polyvalent anti-venom market is segmented on the basis of species, mode of action, end-users and distribution channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Species

• Snake
• Spider
• Scorpion
• Others

Mode of Action

• Cytotoxic
• Neurotoxic
• Haemotoxic
• Others

End-Users

• Hospitals
• Specialty Clinics
• Ambulatory Surgical Centers
• Others

Distribution Channel

• Hospital Pharmacy
• Retail Pharmacy
• Online Pharmacy
• Others

Polyvalent Anti-Venom Market Regional Analysis/Insights

The Polyvalent anti-venom market is analysed and market size insights and trends are provided by country, species, mode of action, end-users and distribution channel as referenced above.

The countries covered in the Polyvalent anti-venom market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America

North America dominates the polyvalent anti-venom market because of the increase in the number of research and development activities in this region. Additionally, growing presence of major key players and well-established healthcare infrastructure will further propel the market's growth rate in this region.

Asia-Pacific are expected to grow during the forecast period due to rising healthcare expenditure and increasing government initiatives for the improvement of healthcare infrastructure in this region.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Polyvalent Anti-Venom Market Share Analysis

The Polyvalent anti-venom market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to polyvalent anti-venom market.

Some of the major players operating in the polyvalent anti-venom market are:

• Medtronic (Ireland)
• Boston Scientific Corporation (US)
• Medline Industries, Inc. (US)
• Thermo Fisher Scientific Inc. (US)
• Stryker (US)
• Johnson & Johnson Private Limited (US)
• Novo Nordisk A/S (Denmark)
• B. Braun Melsungen AG (Germany)
• BD (US)
• Terumo Medical Corporation (Japan)
• Smith+Nephew (UK)
• Merck KGaA (Germany)
• Boehringer Ingelheim International GmbH. (Germany)
• Pfizer Inc. (US)
• GlaxoSmithKline plc (UK)
• CSL Limited (Australia)
• Rare Disease Therapeutics Inc. (US)
• Incepta Pharmaceuticals Ltd. (Bangladesh)
• HAFFKINE BIO-PHARMACEUTICAL CORPORATION LTD. (India)
• Bharat Serums and Vaccines Limited (India)
• Vins Bio products Limited(India)
• Merck & Co., Inc. (US) 

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