According to the Market Statsville Group (MSG), the global snake antivenom market size is expected to grow from USD 719.6 million in 2022 to USD 1,024.7 million by 2033, at a CAGR of 7.1% from 2023 to 2033.

The snake antivenom market is the rising incidence of snake bites globally. This has increased demand for snake antivenom in both developed and developing countries. Another driver of the snake antivenom market is the growing awareness of the importance of snake antivenom. Governments and healthcare organizations in several countries are implementing programs to educate people about the dangers of snake bites and the need for prompt treatment. This has resulted in an increased demand for snake antivenom.

Definition of the Global Snake Antivenom Market

Snake antivenom is a medication used to treat envenomation caused by the bite of a venomous snake. It is made from the antibodies of animals that have been immunized with snake venom. The animals used for this purpose are horses, sheep, or goats, injected with small amounts of snake venom over time. This process stimulates the animals' immune systems to produce antibodies that can neutralize the venom. Once the animals have produced enough antibodies, their blood is collected, and the antibodies are purified to create antivenom. When administered to a person who a venomous snake has bitten, the antivenom binds to the venom in their body and neutralizes its toxic effects, reducing the severity of the envenomation and increasing the chances of survival. Snake antivenom is typically given through an intravenous infusion and is most effective when administered as early as possible after the snake bite. The type of antivenom used depends on the snake species responsible for the envenomation, as different snakes produce different types of venom. It is important to note that antivenom is not a cure for envenomation but rather a treatment that can help to reduce the severity of symptoms and save lives..

COVID-19 Impact on the Global Snake Antivenom Market

While the pandemic has led to disruptions in the supply chain and reduced access to healthcare services in some regions, it has also led to an increased demand for snake antivenom in certain areas. The pandemic has led to disruptions in the production and supply of snake antivenom, particularly in countries where production facilities have been affected by lockdowns or reduced capacity due to social distancing measures. This has resulted in shortages of antivenom in some regions, which can have serious consequences for people who venomous snakes bite.

In addition, the pandemic has led to reduced access to healthcare services in some regions, particularly in rural areas where medical facilities may be overstretched or unavailable due to the pandemic. This can make it more difficult for people to access snake antivenom in a timely manner, increasing the risk of complications and death. While the pandemic has also led to an increased demand for snake antivenom in certain regions. This is because the pandemic has increased the number of people spending time in rural areas, either due to lockdowns or people moving away from cities in search of safer environments. This has increased the risk of snake bites, particularly in areas where venomous snakes are common.

Global Snake Antivenom Market Dynamics

Drivers: Increase in The Prevalence of Snake Bites

The increase in the prevalence of snake bites is a major driver of the demand for the snake antivenom market. According to the World Health Organization, snake bites are responsible for over 100,000 deaths and around 2.7 million cases of envenomation each year. These bites can cause a range of symptoms, including swelling, pain, and paralysis, and in some cases, they can be fatal. As the human population grows and expands into new areas, the risk of snake bites increases. In addition, environmental factors such as climate change and deforestation can also lead to changes in snake behavior and habitat, which can increase the risk of snake bites.

The rise in outdoor activities such as hiking, camping, and wildlife photography has also increased in snake bites. These activities often take people into areas where snakes are more prevalent, increasing the risk of bites. All of these factors have contributed to a growing demand for snake antivenom. This has led to an increase in the production and distribution of antivenom, as well as efforts to raise awareness about the importance of prompt treatment for snake bites.

Restraints: High Cost of Antivenom and Complex and Time-Consuming Process

Antivenom production requires the use of venom from live snakes, which experienced professionals must milk. The venom is then injected into animals, such as horses or sheep, which produce antibodies that can neutralize the venom. These antibodies are then extracted and purified to create the final antivenom product. This process is not only time-consuming, but it also requires specialized equipment, facilities, and personnel. This contributes to the high cost of antivenom production, which can make it difficult for healthcare organizations and governments to provide antivenom to those who need it most. In addition, the storage and transportation of antivenom can be challenging, particularly in low-resource settings where reliable refrigeration and supply chain systems may be lacking.

The complexity of antivenom production also means that it can be difficult to ensure consistent quality and efficacy of the final product. There is a risk of adverse reactions or side effects from antivenom, particularly if it is not properly manufactured or administered. These factors have contributed to a lack of investment in antivenom research and development, which has limited the availability and accessibility of antivenom in many parts of the world.

Opportunities: Advances in Technology are Making it Possible to Produce Antivenom More Efficiently and at a Lower Cost

Advances in technology are indeed creating new opportunities for the snake antivenom market. Researchers are exploring new ways to produce more efficient, cost-effective, and scalable antivenom. For instance: Genetically engineered antibodies: Scientists are developing genetically engineered antibodies that can target specific components of snake venom. This approach can produce antivenom with greater specificity and potency and reduce the need for animal-based production methods. Synthetic venom: Researchers are exploring the use of synthetic venom components to produce antivenom, which could eliminate the need for live animals and reduce the cost and complexity of production. 3D printing: Some researchers are investigating using 3D printing technology to produce antivenom more efficiently and with greater precision. This approach could reduce the time and resources needed to produce antivenom and increase the final product's consistency and quality. Bioreactors: Bioreactors are used to culture cells and produce proteins, and they are being explored as a potential alternative to animal-based production methods for antivenom. This approach could make antivenom production more efficient and cost-effective while reducing animal welfare concerns. These technological advances represent significant opportunities for the snake antivenom market. By improving the efficiency and cost-effectiveness of antivenom production, these innovations could make antivenom more accessible and affordable to those who need it most, particularly in low-resource settings where the risk of snake bites is highest. They also have the potential to improve the quality and efficacy of antivenom, making it a more effective treatment option for snake bite victims.

Scope of the Global Snake Antivenom Market

The study categorizes the snake antivenom market based on type, mode of action, and end-users area at the regional and global levels.

By Type Outlook (Sales, USD Billion, 2019-2033)

• Monovalent
• Polyvalent

By Mode of Action Outlook (Sales, USD Billion, 2019-2033)

• Cytotoxics
• Neurotoxics
• Haemotoxic
• Cardiotoxic
• Myotoxic
• Others

By End-Users Outlook (Sales, USD Billion, 2019-2033)

• Hospitals
• Clinics
• Ambulatory Surgical Centers

By Region Outlook (Sales, USD Billion, 2019-2033)

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Italy
  • France
  • UK
  • Spain
  • Poland
  • Russia
  • The Netherlands
  • Norway
  • Czech Republic
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Indonesia
  • Malaysia
  • Thailand
  • Singapore
  • Australia & New Zealand
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Colombia
  • Rest of South America
• The Middle East & Africa
  • Saudi Arabia
  • UAE
  • South Africa
  • Northern Africa
  • Rest of MEA

Polyvalent segment accounts for the largest market share by type

Based on the type, the market is divided into polyvalent and monovalent. The polyvalent segment is expected to dominate the market share in 2022 in the global snake antivenom market. The polyvalent segment currently dominates the market share in the snake antivenom market. Polyvalent antivenom is designed to treat the bites of multiple types of snakes rather than just one specific type. This is in contrast to monovalent antivenom, which is designed to treat the bites of a single type of snake. Polyvalent antivenom is popular because it offers broader protection against multiple types of venom, which can be important in areas where several species of venomous snakes exist. It also simplifies treatment protocols, as healthcare providers do not need to know the specific species of snake that caused the bite in order to administer the appropriate antivenom.

Asia Pacific is expected to witness the largest market share by Region

Based on the regions, the global snake antivenom market has been segmented across Europe, North America, the Middle East & Africa, Asia-Pacific, and South America. Asia Pacific is projected to account for the highest market share in 2022. The demand for snake antivenom in the Asia Pacific region is high, as the region has a high prevalence of venomous snakes and snake bites. According to the World Health Organization (WHO), the Asia Pacific region accounts for over 75% of global snakebite deaths. India is the country with the highest number of snakebite deaths, followed by other countries in the region, such as Bangladesh, Indonesia, and Sri Lanka. The high demand for snake antivenom in the Asia Pacific region is also driven by factors such as the high population density, agricultural and rural lifestyles, and limited access to healthcare services in some areas. Many snake bites in the region occur in rural areas where access to medical facilities and antivenom can be limited. The demand for snake antivenom in the Asia Pacific region is expected to continue to grow as populations increase, and urbanization and deforestation lead to more encounters with snakes. However, there are also challenges to meeting this demand, including the high cost of antivenom, limited availability in some areas, and varying quality and efficacy of available antivenom products.

Competitive Landscape - Global Snake Antivenom Market

The snake antivenom market is a significant competitor, and extremely cutthroat in the sector are using strategies including product launches, partnerships, acquisitions, agreements, and growth to enhance their market positions. Most sector businesses focus on increasing their operations worldwide and cultivating long-lasting partnerships.

Major key players in the global snake antivenom market are:

• Instituto Bioclon, S.A. de C.V.
• Pfizer AG
• CSL Limited
• F. Hoffmann-La Roche Ltd.
• Merck & Co., Inc.
• Rare Disease Therapeutics, Inc.
• Vins Bioproducts Limited
• BTG Plc
• Incepta Vaccine Ltd.
• Bharat Serum

Key Issues Addressed

• What is the market size by various segmentation of the snake antivenom by region and its respective countries?
• What are the customer buying behavior, key takeaways, and Porter's 5 forces of the snake antivenom market?
• What are the key opportunities and trends for manufacturers involved in the snake antivenom supply chain?
• What are the fundamental dynamics (drivers, restraints, opportunities, and challenges) of the market?
• What and how regulations, schemes, patents, and policies are impacting the growth of the market?
• What are the upcoming technological solutions influencing market trends? How will existing companies adapt to the new change in technology?
• The market player positioning, top winning strategies by years, company product developments, and launches will be?
• How has COVID-19 impacted the demand and sales of snake antivenom in the global market? Also, the expected BPS drop or rise count of the market and market predicted recovery period.
• Detailed analysis of the competitors and their latest launch, and what are the prominent startups introduced in the target market? Also, detailed company profiling of 25+ leading and prominent companies in the market.