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Global Snake Antivenom Market to reach USD 533.65 million by the end of 2029.

Global Snake Antivenom Market Size study & Forecast, by Type ( Polyvalent Heterologous, Monovalent Heterologous) by Application ( Hospitals, Clinics), and Regional Analysis, 2022-2029

Product Code: HLSDT-22306301
Publish Date: 24-04-2023
Page: 200

Global Snake Antivenom Market is valued at approximately USD 294.8 million in 2021 and is anticipated to grow with a healthy growth rate of more than 7.7% over the forecast period 2022-2029. Antivenoms work by boosting the immunological response that occurs in humans after being bitten by a snake. They are made by injecting snake venom into donor animals like sheep or horses. Strong immune systems and the generation of robust antibodies that can attach to snake venom components in these animals enable their own natural defenses to eliminate these toxins.. The Snake Antivenom market is expanding because of factors such as the rising incidence of snakebites and rising government initiatives to raise awareness.

In tropical and subtropical areas, snakebites are the health issue that receives the least attention. The World Health Organization (WHO) estimates that 2.7 million cases of snake envenoming are recorded annually on a global scale. Venomous bites are thought to be the cause of 81,000 to 138,000 fatalities annually. The geographic distribution of these interactions varies greatly. In Asia alone, there are almost 1.7 million snakebite incidents reported per year. Each year, a significant number of snakebites occur in nations in Africa and Latin America as well. One of the main causes of the worldwide increase in snake envenoming incidents is the need for novel products, driving market growth. Additionally, the only medication that may effectively undo the symptoms of snake envenoming is antivenom. Snake’s antivenom is a component of basic medical care and is included among the “Essential Medicines” by the WHO. Furthermore, several government and non-government organizations started a number of projects and initiatives to spread the word about snakebite treatment in an effort to lower the fatality rate from snakebites. In order to reduce the number of disabilities and fatalities by snakebites by the year 2030, the WHO launched a strategy for preventing and controlling snakebite envenoming in May 2019. These initiatives have aided these organizations in increasing accessibility and raising awareness in low- and middle-income nations. However, the Lack of adequate price regulation and reimbursement policy stifles market growth throughout the forecast period of 2022-2029.

The key regions considered for the Global Snake Antivenom Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America dominated the market in terms of revenue, owing to the presence of key players, and research initiatives by government authorities. Whereas Asia Pacific is expected to grow with the highest CAGR during the forecast period, owing to factors such as increasing snake envenoming’s, an increase in the number of collaborations for research and development, geographic expansion of key players, and active participation of government and nonprofit organizations in the market space.

Major market player included in this report are:
MicroPharm Ltd
BTG International Inc.
VINS Bioproducts Limited
Pfizer Inc.
Inosan Biopharma
South Africa Vaccine Producers
Rare Disease Therapeutics, Inc.
Incepta Vaccine Ltd.
Bioclon Institute

Recent Developments in the Market:
Ø In January 2019, BTG International Inc. collaborated with OMNY to increase the usability of its snake antivenom CroFab through distributed ledger technology.
Ø In November 2020, CSL Sequris (a CSL Limited subsidiary) financed over USD 601.5 million in building a manufacturing facility in the Southern Hemisphere to produce Australian antivenoms, as well as the Q-fever vaccine and pandemic flu vaccine.

Global Snake Antivenom Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Type, Application, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Type offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Type:
Polyvalent Heterologous
Monovalent Heterologous

By Type:

By Region:
North America
Asia Pacific
South Korea
Latin America
Rest of the World

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2019-2029 (USD Million)
1.2.1. Snake Antivenom Market, by Region, 2019-2029 (USD Million)
1.2.2. Snake Antivenom Market, by Type, 2019-2029 (USD Million)
1.2.3. Snake Antivenom Market, by Application, 2019-2029 (USD Million)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Snake Antivenom Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Snake Antivenom Market Dynamics
3.1. Snake Antivenom Market Impact Analysis (2019-2029)
3.1.1. Market Drivers Rising Incidence of Snakebites Rising government initiatives to raise awareness
3.1.2. Market Challenges Lack of adequate price regulation and reimbursement policy
3.1.3. Market Opportunities Rising Penetration by Market Players in Developing Nations
Chapter 4. Global Snake Antivenom Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Futuristic Approach to Porter’s 5 Force Model (2019-2029)
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economical
4.3.3. Social
4.3.4. Technological
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. Industry Experts Prospective
4.7. Analyst Recommendation & Conclusion
Chapter 5. Risk Assessment: COVID-19 Impact
5.1. Assessment of the overall impact of COVID-19 on the industry
5.2. Pre COVID-19 and post COVID-19 Market scenario
Chapter 6. Global Snake Antivenom Market, by Type
6.1. Market Snapshot
6.2. Global Snake Antivenom Market by Type, Performance – Potential Analysis
6.3. Global Snake Antivenom Market Estimates & Forecasts by Type 2019-2029 (USD Million)
6.4. Snake Antivenom Market, Sub Segment Analysis
6.4.1. Polyvalent Heterologous
6.4.2. Monovalent Heterologous
Chapter 7. Global Snake Antivenom Market, by Application
7.1. Market Snapshot
7.2. Global Snake Antivenom Market by Application, Performance – Potential Analysis
7.3. Global Snake Antivenom Market Estimates & Forecasts by Application 2019-2029 (USD Million)
7.4. Snake Antivenom Market, Sub Segment Analysis
7.4.1. Hospitals
7.4.2. Clinics
Chapter 8. Global Snake Antivenom Market, Regional Analysis
8.1. Snake Antivenom Market, Regional Market Snapshot
8.2. North America Snake Antivenom Market
8.2.1. U.S. Snake Antivenom Market Type breakdown estimates & forecasts, 2019-2029 Application breakdown estimates & forecasts, 2019-2029
8.2.2. Canada Snake Antivenom Market
8.3. Europe Snake Antivenom Market Snapshot
8.3.1. U.K. Snake Antivenom Market
8.3.2. Germany Snake Antivenom Market
8.3.3. France Snake Antivenom Market
8.3.4. Spain Snake Antivenom Market
8.3.5. Italy Snake Antivenom Market
8.3.6. Rest of Europe Snake Antivenom Market
8.4. Asia-Pacific Snake Antivenom Market Snapshot
8.4.1. China Snake Antivenom Market
8.4.2. India Snake Antivenom Market
8.4.3. Japan Snake Antivenom Market
8.4.4. Australia Snake Antivenom Market
8.4.5. South Korea Snake Antivenom Market
8.4.6. Rest of Asia Pacific Snake Antivenom Market
8.5. Latin America Snake Antivenom Market Snapshot
8.5.1. Brazil Snake Antivenom Market
8.5.2. Mexico Snake Antivenom Market
8.5.3. Rest of Latin America Snake Antivenom Market
8.6. Rest of The World Snake Antivenom Market

Chapter 9. Competitive Intelligence
9.1. Top Market Strategies
9.2. Company Profiles
9.2.1. MicroPharm Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
9.2.2. BTG International Inc.
9.2.3. VINS Bioproducts Limited
9.2.4. Pfizer Inc.
9.2.5. SEQIRUS (CSL Limited)
9.2.6. Inosan Biopharma
9.2.7. South Africa Vaccine Producers
9.2.8. Rare Disease Therapeutics, Inc.
9.2.9. Incepta Vaccine Ltd.
9.2.10. Bioclon Institute
Chapter 10. Research Process
10.1. Research Process
10.1.1. Data Mining
10.1.2. Analysis
10.1.3. Market Estimation
10.1.4. Validation
10.1.5. Publishing
10.2. Research Attributes
10.3. Research Assumption

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Data Collection:
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To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
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To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
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