Market
Scenario
Anti-venom is made up of hyperimmune globulins and
various other proteins extracted from the serum of various animals. In the
process animals have been immunized with the venom of a snake, and then
proteins are extracted from it. Anti-venom is currently the cornerstone of
therapy for the victims of venomous snake bites and has reduced the mortality
of this condition. It can be species-specific, regional, or polyvalent. For
instance, anti-venom directed against coral snake venom is regenerated by
immunizing horses with venom from the eastern coral snake i.e. Micrurus
fulvius. The use of anti-venom is associated with various adverse reactions and
so is given to only those victims who develop local, systemic, or laboratory
evidence of envenoming. The use of epinephrine, corticosteroids, and
antihistamines is also recommended before anti-venom administration as it helps
to reduce the occurrence and severity of acute or delayed hypersensitivity
reactions which may occur in 20 to 90% of cases.
According to the World Health Organization (WHO), snake
antivenom immunoglobulins is the only specific treatment for envenoming by
snakebites. It is also estimated that nearly 4.5 to 5.4 million people are
bitten by snakes in a year, and around 1.8 to 2.7 million out of them develop
clinical illness after a snakebite.
It is noted that the increasing cases of snake bites
and increasing government funding for R&D are the key factors driving the
anti-venom market.
Various other factors such as the increasing patient
pool, unmet medical needs, increasing awareness about antivenoms, enhancing
regulatory framework, and increasing government assistance are continuously
contributing to the growth of the global anti-venom market.
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It is estimated that the Anti-Venom market is
expected to grow at a CAGR 6.5% during the forecast period of 2017–2023.
Intended Audience
- Pharmaceutical Companies
- Research and Development (R&D) Companies
- Diagnostic Laboratories
- Government Research Institutes
- Academic Institutes and Universities
Segmentation
The global anti-venom market
is segmented by type, type of species, mode of action, product type, and
end-user.
On the basis of type, the
global anti-venom market is classified as polyvalent heterologous antivenom,
monovalent heterologous antivenom, homologous antivenom, and small molecule
anti-toxins.
On the basis of type of
species, the global anti-venom market is classified as snakes, scorpions,
spiders, and others. The snake segment is further classified as common cobra,
common krait, Russell viper, and others.
On the basis of mode of
action, the global anti-venom market is classified as cytotoxic, neurotoxic,
haemotoxic, cardiotoxic, myotoxic, and others.
On the basis of product
type, the global anti-venom market is classified as snake anti-venom, scorpion
anti-venom, spider anti-venom, and others.
On the basis of end-user,
the global anti-venom market is segmented into hospitals, clinics, ambulatory
surgical centers, and others.
Regional Analysis
The Americas dominates the anti-venom market owing
to the increasing cases of snake bites, and scorpion bites and high healthcare
expenditure.
Europe holds the second position in the anti-venom
market. The financial support by the government towards research and
development and improvement in reimbursement scenario are expected to drive the
European anti-venom market. According to the data suggested by Eurostat, it is
observed that among the EU Member States, the highest value of healthcare
expenditure was recorded in Germany in 2014 i.e. EUR 321 billion which is
further followed by France with EUR 237 billion and United Kingdom with EUR 223
billion. In 2016, the R&D expenditure in the pharmaceutical industry was
EUR 35000 million, suggested by the European Federation of Pharmaceutical
Industries and Association.
Asia Pacific is the fastest growing anti-venom
market owing to a huge patient pool and increasing advancements in
pharmaceuticals. According to the Indian Brand Equity Foundation (IBEF), in
2016 the generics market of India stood at USD 26.1 billion. As per the
statistics suggested by the World Health Organization (WHO), it has been estimated
that around 2.8 million people are bitten by snakes, and nearly 46 900 people
die from snakebite every year.
The Middle East and Africa holds the lowest share
of the global market due to slow development, lack of technical knowledge, and
poor medical facilities.
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Key
players
Some of the key players in the global anti-venom market
are Allison Medical, Inc., Artsana S.p.a., B. Braun Melsungen AG, Becton,
Dickinson and Company, Boston Scientific Corporation, Hamilton Company,
Hill-Rom, Hu-Friedy Mfg. Co., LLC, Johnson & Johnson Services, Inc, Medline
Industries, Inc., Medtronic plc, Novo Nordisk A/s, Owen Mumford, Ltd., Roboz
Surgical Instrument, Smiths Medical, Stryker Corporation, Terumo Corporation,
Thermo Fisher Scientific, UltiMed, Inc., Ypsomed Holding AG, and others.
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