Snake antivenom is a specific type of antivenom used to treat individuals who have been bitten by venomous snakes. When a venomous snake bites a person, it injects venom into the bloodstream through its fangs. This venom can be highly toxic and may cause various symptoms, ranging from local pain, swelling, and tissue damage to more severe systemic effects like paralysis, respiratory distress, and even death.
The global snake antivenom market size was valued at USD 294.8 million in 2021. The market is predicted to grow from USD 312.9 million in 2022 to USD 526.0 million by 2029, exhibiting a CAGR of 7.7% during the forecast period.
Global Snake Antivenom Market: Drivers and Restraints:
Snake antivenom is the primary treatment for snakebite envenomation. It is made by immunizing animals, such as horses or sheep, with small, non-lethal amounts of snake venom. The animals' immune systems respond by producing antibodies against the venom. These antibodies are then collected and purified to create the antivenom.
When administered to a snakebite victim, the antivenom works by neutralizing the toxic effects of the snake's venom, helping to prevent or reverse the symptoms of envenomation. The earlier the antivenom is administered after the snakebite, the more effective it tends to be in mitigating the effects of the venom.
It is essential to note that snake antivenom is specific to certain snake species or families. Different venomous snakes have distinct venoms with unique compositions, so antivenom effectiveness is limited to the species or group it was produced against. In regions with multiple venomous snake species, medical professionals must correctly identify the snake responsible for the bite to administer the appropriate antivenom.
List of Key Companies Operating in Snake Antivenom Market:
- MicroPharm (U.K.)
- BTG International Inc. (U.S.)
- VINS Bioproducts Limited (India)
- Pfizer Inc. (U.S.)
- SEQIRUS (CSL Limited) (Australia)
- Inosan Biopharma (Mexico)
- South Africa Vaccine Producers (South Africa)
- Rare Disease Therapeutics, Inc. (U.S.)
- Incepta Vaccine Ltd. (Bangladesh)
- Bioclon Institute (Mexico)
Snakebites are the most neglected health problem in tropical and subtropical regions. According to the World Health Organization (WHO), globally, an estimated 2.7 million cases of snake envenoming are reported each year. An estimated 81,000 to 138,000 deaths occur each year due to venomous bites. Geographically, there is a vast disparity in distribution of these encounters.
What is the goal of the report?
- The market report presents the estimated size of the Snake Antivenom Market at the end of the forecast period. The report also examines historical and current market sizes.
- During the forecast period, the report analyzes the growth rate, market size, and market valuation.
- The report presents current trends in the industry and the future potential of the North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa markets.
- The report offers a comprehensive view of the market based on geographic scope, market segmentation, and key player financial performance.
Furthermore, a detailed study of the competitive landscape of the Global Snake Antivenom Market has been given, presenting insights into the company profiles, financial status, recent developments, mergers and acquisitions, and the SWOT analysis. This research report will give a clear idea to readers about the overall Global Snake Antivenom Market scenario to further decide on this market project.
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