ANTI VENOM MARKET ANALYSIS

Market Concentration and Competitive Landscape

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Growing adoption of anti venom therapy

Increasing use of anti-venom therapy can drive the global anti venom market growth. More communities are recognizing the importance and effectiveness of anti-venom in treating snake bites and other venomous animal bites, which were earlier considered fatal. According to the World Health Organization (WHO), around 5.4 million snakebites occur annually, resulting in approximately 2.7 million envenomings with around 138,000 deaths worldwide. Increasing incidence of snakebites and scorpion stings boosts demand for anti-venom globally. Several medical and governmental initiatives are being taken to spread awareness about anti-venom therapy and make it more accessible in rural areas where majority of such incidences occur. For instance, a project undertaken in 2020 by the Ministry of Health and Family Welfare, Government of India aimed to set up five new sub-regional anti-snake venom units in different states to ensure adequate availability of anti-venom vials across the country. Improving accessibility to anti-venom in developing regions boosts higher consumption. Many biopharmaceutical companies are also focusing on developing anti-venoms for more exotic species and regions to expand treatment options.