June 20, 2024

Healthcare and Wellness Technology is Driving Innovation in the Anti-Venom Market

The anti-venom market comprises products designed to treat envenomations from snakebites, insect bites, and other venomous animals. Anti-venoms work by neutralizing the toxins in the venom, thereby preventing or reversing its harmful effects. They contain antibodies that are developed by injecting small, non-lethal doses of venom into other animals like horses and sheep over time. This builds up immunity in the host animal against the venom, and its blood serum containing anti-venom antibodies can then be harvested and purified for administration to humans. With rising concerns around occupational hazards, public health initiatives, and technological innovations, the demand for anti-venoms is growing globally.

The global Anti-Venom Market is estimated to be valued at US$ 9229.16 Mn in 2024 and is expected to exhibit a CAGR of 6.7% over the forecast period 2024-2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
Technological advancements are revolutionizing the anti-venom market. Traditionally, antibodies were raised in large animal hosts like horses but this process had limitations in terms of yield, purity, and reproducibility. New technologies enable the mass-production of anti-venom antibodies through recombinant DNA techniques, phage display, and hybridoma cell culture. This facilitates sustainable, high-quality antibody production without the use of live animals. Leading players are actively engaging in R&D to develop innovative, next-gen anti-venom therapeutics with advantages like increased efficiency, specificity, stability and reduced adverse reactions. Healthcare technologies are thus expected to play a pivotal role in enhancing access to anti-venom treatment globally and mitigating the public health burden of venomous bites and stings.

Porter’s Analysis
Threat of new entrants: Low, as anti-venom market requires high R&D investments, established distribution channels and regulatory approvals.
Bargaining power of buyers: Moderate, as buyers have a limited number of suppliers to choose from.
Bargaining power of suppliers: Moderate, as number of suppliers are limited globally for anti-venom.
Threat of new substitutes: Low, as there are limited treatment options for snake bites currently.
Competitive rivalry: High, as major players are focusing on new product launches and expansion strategies.

Key Takeaways
The global anti-venom market is expected to witness high growth.

Regional analysis: North America is expected to dominate the anti-venom market during the forecast period. The increasing incidence of snake bites and presence of major players are boosting the market growth in the region. However, Asia Pacific is anticipated to witness the fastest growth rate during the forecast period, driven by high prevalence of snake bites, coupled with improving healthcare infrastructure and rising awareness.

Key players operating in the anti-venom market are Bharat Serums and Vaccines Limited (BSV), Boehringer Ingelheim International GmbH, Boston Scientific Corporation, CSL Limited, Haffkine Bio-Pharmaceutical Corporation Limited, Incepta Pharmaceuticals Limited, Merck & Co. Inc., Merck KGaA, MicroPharm Limited, Pfizer Inc., and Rare Disease Therapeutics Inc. BSV launched Anaspe V, a monovalent anti-venom against Indian cobra, in 2021. CSL launched AnaspeV, a polyvalent anti-venom for the treatment of snake envenomation in India.

*Note:

  1. Source: Coherent Market Insights, Public sources, Desk research
  2. We have leveraged AI tools to mine information and compile it