Global Antivenom Market is expected to reach USD 1.79 billion by 2023

“Antivenom Market”
Antivenom Market By Type, By Animal, And By Region – Global Growth, Trends, And Forecast (2018 – 2023)

Market Overview:

Global Antivenom Market values at USD 1.33 Billion in 2018 and it is expected to reach USD 1.79 Billion with a CAGR of 6.12% by the end of 2023.

Antivenom is a medication majorly used to treat snake bites and it can even be used to treat bites from scorpions, spiders or alternative reptiles. It’s created by fractionating the blood of the donor (horse or sheep), that is hyper vaccinated with venom. These products are obtainable in either lyophilized or liquid forms. Antivenom is that the sole effective medical aid against snake bites and apart from lifesaving, they conjointly save patients from cell and tissue gangrene, so serving to save very important organs. As per World Health Organization (WHO) fact sheet, 4.5 to 5.4 million people square measure bitten by snakes,

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Factors affecting market growth:

  1. Antivenom treatment is the only standard treatment for snake bite with no alternative treatments (+)
  2. Presence of a high number of snake victims (+)
  3. Inadequate investments by the government (-)
  4. High manufacturing cost and inefficient production process (-)

Market Segmentation

Global Antivenom Market is segmented based on

Type

  1. Vaccines
  2. Hyperimmune sera

Animals

  1. Snakes
  2. Scorpions
  3. Spiders
  4. others

Vaccines are the most common therapy used for the treatment of snake bite and it is accounted for the highest market growth. Coming to animal segmentation people who got bitten are mostly because of the snake and it is harmful compared to other animals.

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Key players:

Key market players in Antivenom market include Instituto Bioclon, S.A. de C.V. (Mexico), Pfizer AG (Switzerland), CSL Limited (Australia), F. Hoffmann-La Roche Ltd. (Switzerland), Merck & Co., Inc. (U.S.), Rare Disease Therapeutics, Inc. (U.S.), Vins Bioproducts Limited (India), BTG Plc (U.K.), Incepta Vaccine Ltd. (Bangladesh), and Bharat Serum and Vaccines Limited (BSV) (India).

The scope of the report:

1. Global, regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the untapped regions.
2. The segment-level analysis in terms of technology, component, and type along with market size forecasts and estimations to detect key areas of industry growth in detail
3. Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
4. Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economic, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
5. Study the microenvironment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analyzing the level of competition and business strategy development
6. A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
7. Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
8. An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions

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