Anti venom is a medication made from antibodies that is used to treat certain venomous bites and stings, particularly those of snakes, scorpions, and spiders. The polyvalent anti-venom serum is obtained from horses or sheep immunized against the venoms of many snakes that are present in a geographical region. Anti venom serum is effective in neutralizing the effects of the snake venom when administered promptly after a snakebite. The demand for antivenom is rising globally due to the increasing number of venomous snakebites. As per World Health Organization (WHO), around 5.4 million snakebites occur annually resulting in 2.7 to 138,000 deaths. Additionally, around 400,000 people are left with permanent disabilities such as amputation or neurological damage every year due to snakebites.

The global anti venom market is estimated to be valued at US$ 9229.16 Mn in 2023 and is expected to exhibit a CAGR of 6.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:
The global anti venom market is witnessing robust growth owing to the rising cases of snakebites around the world. As per the heading, the increasing number of venomous snakebites is a key driver propelling the demand for anti-venom drugs globally. According to the data highlighted by WHO, around 5.4 million snakebites occur annually causing significant number of deaths and permanent disabilities. This rising incidence of snakebites is creating the need for effective anti-venom treatments fueling the market growth. Additionally, favorable government and NGO initiatives towards snakebite management are also contributing to the market growth. For instance, In September 2017, a high-level meeting was organized by WHO, encouraging manufacturing and supply of effective affordable treatments to reduce mortality and morbidity caused by snakebite envenoming. Such initiatives are supporting the expansion of anti venom market.

SWOT Analysis
Strength: Anti-venom plays a major role in neutralizing the toxins effects of snake/spider bites, thus saving many lives. The key players in this market are focusing on developing new anti-venoms which can neutralize toxins from various species to increase efficacy. Strategic partnerships between companies and research institutes help in development of novel anti-venoms.

Weakness: Developing anti-venom is an expensive and time-consuming process. It requires proper identification of snake species and toxin profiling which is challenging. The shelf life of anti-venoms is also short requiring constant supplies. Developing effective anti-venoms against less prevalent species is not commercial viable for companies.

Opportunity: There is significant scope for expansion in emerging markets due to growing incidences of snake bites and lack of effective treatment options. Developing combination anti-venoms which can neutralize multiple species can increase product efficacy. Partnerships with governments and non-profit organizations can help improve access to anti-venoms in rural areas.

Threats: Stringent regulatory processes and requirements for clinical trials delay market entry of new anti-venoms. Presence of localsnake charmers and traditional healers poses competition to anti-venoms. Spread of misinformation regarding anti-venoms reduces patient compliance.


Key Takeaways
The global anti-venom market is expected to witness high growth.

Regional Analysis: Developing regions such as Asia Pacific and Latin America dominate currently due to high occurrences of snake bites. According to surveys, India alone accounts for over 50,000 deaths annually and Southeast Asian countries report thousands more. Though anti-venom is the only effective treatment available, supply issues and lack of access in rural areas remain major challenges.

Key players operating in the anti-venom market are Bharat Serums and Vaccines Limited (BSV), Boehringer Ingelheim International GmbH, Boston Scientific Corporation, CSL Limited, Haffkine Bio-Pharmaceutical Corporation Limited, Incepta Pharmaceuticals Limited, Merck & Co. Inc., Merck KGaA, MicroPharm Limited, Pfizer Inc., and Rare Disease Therapeutics Inc. These companies are collaborating with research institutes and public health organizations to develop more efficacious anti-venoms against various geographical strains. They are also focusing on improving distribution networks to enhance access in developing regions.