Snake Antivenom Market Size Worth $636.85 Million By 2032 | CAGR: 7.5%

The global snake antivenom market size is expected to reach USD 636.85 Million by 2032, according to a new study by Polaris Market Research. The report “Snake Antivenom Market Share, Size, Trends, Industry Analysis Report, By Type (Polyvalent Heterologous, Monovalent Heterologous, Homologous, and Small Molecule Anti-Toxins); By Mode of Action; By End User; By Region; Segment Forecast, 2024 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The rising prevalence of snakebites as a common public health issue across various regions and increased demand for effective venom neutralizing solutions or treatments, driving the market’s growth. Awareness among healthcare professionals about the identification, management, and treatment of snakebites, fostering the demand for antivenoms. Additionally, growing advances in R&D that results in the creation of more effective antivenom formulations and advancements in diagnostics and treatment methods, are further anticipated to boost market’s growth.

• For instance, in January 2023, Ophirex Inc., announced that they completed a USD 37 million Series B financing. The funds will be used to continue clinical development and regulatory submission in order to advance broad-spectrum snakebite treatment.

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The access to effective, safe, and quality products that are specially tailored to the endemic species has been becoming an important component to reduce the burden of snake bites. At the national level, there is insufficient manufacturing output of antivenoms to meet the clinical needs especially for antivenoms intended for use in region with scarcity of producers. Thus, there is an emerging opportunity for manufacturing or developing antivenoms with enhanced capabilities, which will also bode well for market’s growth.

• For instance, according to a report published by the Indian Journal of Medical Research in April 2023, India is focusing on a national programme for prevention & control of snakebite in India that encourages the development new and effective antivenoms.

Furthermore, there is a growing emphasis on research & development activities in the field of snake antivenom which mainly includes activities like creation of new improved treatment formulations and improving the overall treatment outcomes. It helps patients quickly recover from the pain and reduces the number of constantly rising deaths due to snakebites across the globe.

Snake Antivenom Market Report Highlights

• Polyvalent heterologous segment accounted for the largest share, due to its higher effectiveness and preference over alternative options
• Neurotoxic segment held the maximum share, on account of rising prevalence of neurotoxic snakebites and its adoption among healthcare professionals
• Hospitals & clinics segment will grow at fastest pace, owing to significant increase in patient population and improvements in hospitals infrastructure
• Asia Pacific is expected to dominated the global market, due to rising incidences of snakebites and number of deaths occurs due to thus in the region
• The key market players include Boehringer-Ingelheim Thermo Fisher, Hamilton Company, Incepta Vaccine, Novo Nordisk, Rare Disease Therapeutics, and Bioclon

Polaris Market Research has segmented the snake antivenom market report based on type, mode of action, end user, and region:

Snake Antivenom, Type Outlook (Revenue - USD Million, 2019 - 2032)

• Polyvalent Heterologous
• Monovalent Heterologous
• Homologous
• Small Molecule Anti-Toxins

Snake Antivenom, Mode of Action Outlook (Revenue - USD Million, 2019 - 2032)

• Cytotoxic
• Neurotoxic
• Haemotoxic
• Cardiotoxic
• Myotoxic
• Others

Snake Antivenom, End User Outlook (Revenue - USD Million, 2019 - 2032)

• Hospitals & Clinics
• Ambulatory Surgical Centers
• Research Institutes
• Others

Snake Antivenom, Regional Outlook (Revenue - USD Million, 2019 - 2032)

• North America

• U.S.
• Canada

• Europe

• Germany
• UK
• France
• Italy
• Spain
• Russia
• Netherlands

• Asia Pacific

• China
• India
• Japan
• South Korea
• Indonesia
• Malaysia

• Latin America

• Argentina
• Brazil
• Mexico

• Middle East & Africa

• UAE
• Saudi Arabia
• Israel
• South Africa

Snake Antivenom Market Report Scope