Antivenom Serum Market Size & Growth Analysis to 2030

The global antivenom serum market size is expected to grow at significant CAGR of 5.1% and estimated to reach around USD 800 million by 2027. The drivers for the market include the increasing incidence of snakebites, growing awareness and government initiatives, technological advancements in production, expansion of healthcare infrastructure, regulatory support and standardization, collaborations and partnerships, tourism and travel, rising disposable income and healthcare spending, and ongoing research and development efforts. These factors collectively contribute to the market growth by addressing the public health impact of snakebite envenomation, improving access to antivenom treatment, enhancing product safety and efficacy, and fostering innovation in the field.

Market Drivers:

Increasing Incidence of Snakebites: Snakebites are a significant public health issue in many regions, especially in tropical and subtropical areas. The prevalence of snakebite cases, along with the associated morbidity and mortality, drives the demand for antivenom serums as the primary treatment for envenomation.

Growing Awareness and Government Initiatives: Efforts to raise awareness about snakebite envenomation and its impact on public health have gained momentum in recent years. Governments and international organizations have implemented initiatives to address this issue, leading to increased demand for antivenom serums as part of comprehensive snakebite management strategies.

Technological Advancements: Advancements in biotechnology and the production of antivenom serums have improved their safety, efficacy, and availability. Modern techniques, such as recombinant DNA technology, allow for the production of specific and more targeted antivenoms, enhancing their therapeutic potential.

Expansion of Healthcare Infrastructure: Improvements in healthcare infrastructure, particularly in developing countries, have resulted in better access to healthcare services, including antivenom treatment. The establishment of specialized snakebite treatment centers and the availability of antivenom serums in remote areas contribute to increased demand.

Regulatory Support and Standardization: Regulatory authorities play a crucial role in ensuring the quality, safety, and efficacy of antivenom serums. Stringent regulations and standards for manufacturing, distribution, and usage of antivenoms help build trust among healthcare professionals and patients, driving market growth.

Collaborations and Partnerships: Collaborations between research institutions, pharmaceutical companies, and nonprofit organizations have accelerated research and development efforts related to antivenom serums. These partnerships facilitate knowledge sharing, technology transfer, and capacity building, ultimately leading to improved access to high-quality antivenom products.

Tourism and Travel: Regions with a high prevalence of venomous snakes often attract tourists and travelers. The potential risk of snakebites in these areas increases the demand for antivenom serums as a precautionary measure and emergency treatment for snakebite incidents.

Increasing Disposable Income and Healthcare Spending: Rising disposable income levels, particularly in emerging economies, contribute to increased healthcare spending. As individuals have more financial resources, they are more likely to seek appropriate medical care, including antivenom treatment, thereby driving market growth.

Research and Development: Ongoing research and development activities aim to improve the effectiveness and accessibility of antivenom serums. Efforts to develop broad-spectrum antivenoms, enhance antivenom stability and storage conditions, and reduce adverse reactions contribute to the growth of the market.

Market Outlook:

Market Insights:

Snakes are representing the largest market share in the species segment for antivenom serum market growth. According to the latest research citings presented by the World Health Organization, (WHO), approximately 5.4 million snake bites are reported worldwide. Large scale deforestation and reclamation of marshy lands are the chief reasons for the number of reported incidents of snake bites among cultivators worldwide. Spiders are going to register steady market growth during the forecast period, it is a well-known fact that there are almost 40,000 different species of spiders occurring across the globe, but only a dozen of these are highly venomous and cause life threatening outcomes in human beings subjected to its envenomation.

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Hospital pharmacy is currently spearheading the distribution channel segment for antivenom serum market. People bitten with venomous species are first taken to the primary healthcare center where they are immediately given an antivenom serum to save the life of the patient, however precise dispensing of antivenom serum in accordance to doctor’s prescription is mandatory to prevent the outcome of side effects. Retail pharmacy is expected to showcase comfortable market growth in the developing regions owing to the availability of antivenom serums at affordable prices and ability to cater the medicinal requirements of patients residing in the remote locations.

The antivenom serum  market research report presents the analysis of each segment from 2018 to 2027 considering 2020 as the base year for the research. The compounded annual growth rate (CAGR) for each respective segment is calculated for the forecast period from 2021 to 2027.

Historical & Forecast Period

• 2018-19 – Historical Year
• 2020 – Base Year
• 2021-2027 – Forecast Period

Global Antivenom Serum Market Segmentation:

By Species:

• Snakes
• Scorpions
• Spiders
• Others

By Distribution Channel:

• Hospital Pharmacy
• Retail Pharmacy
• Others

By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Geographic Coverage:

Asia Pacific is presently dominating the geography segment for antivenom serum market. Constant rise in the number of people reported to be suffering with the bites of venomous snakes primarily drives the market growth. The tropical climates of South East Asia is the house of the most venomous snakes found on the planet and the dry lands of the South Asian countries provided favorable breeding grounds for poisonous scorpions. Existence of key players such as Serum Biotec Limited, Vins Bioproducts Limited, Incepta Vaccines Ltd. etc further accentuate the market growth in the region. Latin America is the second largest regional segment owing to the presence of amazon rain forest which has presence of several varieties of venomous spiders. North America is anticipated to be the fastest growing regional segment in the antivenom serum market. Existence of developed healthcare infrastructure and rising public health awareness together determine the antivenom serum market growth in the region.

Market Competition Assessment:

Key players operating in the global antivenom serum  market are Merck KGaA, Haffkine Bio Pharmaceutical Corporation Ltd., Serum Biotec Limited, Pfizer, Inc., and Incepta Vaccines Ltd.. Companies are exploring markets by expansion, new investment, the introduction of new services, and collaboration as their preferred strategies. Players are exploring new geography through expansion and acquisition to gain a competitive advantage through joint synergy.

List of Key Companies:

• Merck KGaA
• Summerland Serums
• Haffkine Bio Pharmaceutical Corporation Ltd.
• MicroPharm
• Serum Biotec Limited
• SAVP
• Vins Bioproducts Limited.
• Incepta Vaccines Ltd.
• Pfizer, Inc.
• Rare Disease Therapeutics, Inc.

Key Questions Answered by Antivenom serum Market Report:

• Global antivenom serum  market forecasts from 2021-2027
• Regional antivenom serum  market forecasts from 2021-2027 covering Asia-Pacific, North America, Europe, Middle East and Africa, and Latin America
• Country-level forecasts from 2021-2027 covering 15 major countries from the aforementioned regions
• Antivenom serum  submarket forecasts from 2021-2027 covering the market by species, by distribution channel, and geography
• Various industry models such as SWOT analysis, Value Chain Analysis pertaining to antivenom serum  market
• Analysis of the key factors driving and restraining the growth of the global, regional and country-level antivenom serum  markets from 2021-2027
• Competitive Landscape and market positioning of top 10 players operating in the antivenom serum  market