ANTI VENOM MARKET ANALYSIS

The high cost of anti venom treatment can hamper the global anti-venom market growth. Anti-venom production is an expensive process involving milking venomous snakes, injecting horses with small doses of venom to stimulate antibody production, collecting antibody-rich plasma from the horses, and purifying and freeze-drying the immunoglobulins. This complex production pipeline makes anti-venom among the most expensive biological drugs available. Since snake bites are relatively rare in developed countries, anti-venom manufacturers have to rely on smaller markets in the developing world, where cost sensitivity is very high. The high prices of anti-venoms have pushed the life-saving drugs out of reach for many people who need them the most. According to a study by the World Health Organization in 2020, nearly one third of snake bite victims in South Asia are unable to afford anti-venom treatment due to the high costs involved.  In Nepal, a single vial of anti-venom costs around US$ 150 which is prohibitive for many people, and people often have to buy multiple vials depending on the type and severity of the bite. The Nepalese government provides free anti-venom treatment at public health centres but limited availability and long travel distances prevent many people from accessing this subsidized treatment.

Market Opportunities: New product launches and innovation

New product launches and innovation can offer opportunity for global antivenom market growth. With increasing incidence of snake bites and scorpion stings across geographic regions such as sub-Saharan Africa, South Asia, and Latin America, there has been huge need for effective anti-venom treatments. According to the World Health Organization,  2.7 million envenomings and 100,000 deaths globally occur each year from snake bites alone. Many regions where the burden is highest still rely on older generation anti-venom products with questionable efficacy and availability issues. Developing novel formulations that have multi-specificity against various clinically relevant venoms and improved pharmacokinetic profiles could help address unmet needs in these underserved areas. Leading pharmaceutical companies have begun investing in recombinant anti-venom technologies that can neutralize a broader spectrum of venom toxins as compared to traditional products made from horse serum. For example, clinical studies are ongoing for an innovative anti-spider venom created using monoclonal antibodies isolated from people who were previously bitten. This "humanized" approach promises reliable supply, reduced allergenicity risk, and superior neutralizing abilities as compared to available therapies. As the recombinant space develops further, it may help decrease dependence on live animal harvesting methods, while improving access and health outcomes in venom-prone locales.