Global anti venom market growth is driven by rising incidence of snake bites and scorpion stings across tropical and sub-tropical regions of the world. Each year over 5 million people are bitten by snakes, out of which, around 2.7 million cases result in envenoming and around 100,000 deaths. There has been rising demand for anti-venom as the availability of effective anti-venoms has improved survival and recovery rates for victims of snake bites in many countries. Leading manufacturers are engaging in development of novel anti-venoms through reforms in production techniques using modern immunological and biochemical methods. Rising investments towards building awareness about timely treatment and availability of anti-venoms can also drive the market growth.
Market Dynamics:
Global anti venom market growth is primarily driven by increasing incidence of snake bites and scorpion stings globally. According to the World Health Organization, around 5.4 million people suffer from snake bites each year and about 2.7 million are envenomed with around 137,000 deaths. Rising investments by market players and governments towards educating rural populations, improving access to healthcare facilities and ensuring availability of anti-venoms across remote areas can offer lucrative opportunities. However, high costs of anti-venoms, short shelf-life requiring constrained and controlled storage and transportation can limit its widespread adoption. Lack of awareness, traditional beliefs and geographical barriers restrict timely treatment seeking for victims in developing nations. Market players involved in research and production of innovative, more effective and affordable anti-venoms can offer market growth opportunities.
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*Browse 32 market data tables and 28 figures on "Anti Venom Market” - Global forecast to 2031
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