Snake Antivenom and Recoil Market Overview
The anti-venom is currently under phase 3 clinical trial and is on track to receive approval soon in the future. The introduction of new and innovative products, with more in the pipeline, will elevate the market position of anti-venom over the coming years. Moreover, the high prevalence of scorpion bites, snake bites, and other insect or animal bites like fish stings will surely augment the product demand across the globe.
Following a detailed analysis of the current trends, Market Research Future (MRFR) reports that the global Antivenom Market is poised to grow at a robust rate of 6.5% during the forecast period (2017-2023).
Additional factors promoting market growth includes the encroachment of forest lands for housing and agricultural purposes, which had led human to be in close proximity to venomous insects and animals.
With successful approvals as well as continuous launches of novel drugs in prominent regions will prove to be instrumental in the growth of the Snake Antivenom and Recoil Market growth during the assessment period. Citing an example, Silanes Laboratories had been granted the U.S. Food and Drug Administration (FDA) approval for Anavip in October 2018.
Antivenom Market Top Key Vendors
Scientific Corporation, Terumo Corporation, B. Braun Melsungen AG, Becton, Dickinson and Company, Owen Mumford Ltd., Allison Medical Inc., Artsana S.p.a., Thermo Fisher Scientific, Hu-Friedy Mfg. Co., LLC, Johnson Johnson Services Inc, cHill-Rom, Medline Industries, Inc., Ypsomed Holding AG, Allison Medical, Inc., Smiths Medical, Stryker Corporation, Medtronic plc, Roboz Surgical Instrument, Novo Nordisk A/s, UltiMed Inc. (Boston) are the top vendors operating in the global Snake Antivenom and Recoil Market.
Get Free Sample However, with renowned industry vendors constantly focusing on raising the shelf life and also extending the expiry date of its product range, the overall growth rate of the market will remain unaffected. To illustrate, it was reported in September 2018 that BTG plc. had received the U.S. Food Drug Administration (FDA) approval to extend the shelf life of CroFab Crotalidae Polyvalent Immune Fab (Ovine) up to 60 months.
Antivenom Market Segmentation
The report states that the global Snake Antivenom and Recoil Market has been segmented on the basis of type, type of species, mode of action, product type, and end user.
According to the type, the global Snake Antivenom and Recoil Market is considered for polyvalent heterologous antivenom, monovalent heterologous antivenom, homologous antivenom, and small molecule anti-toxins.
The types of species covered in the report include snakes, scorpions, spiders, and others. Further, the snake segment is further segmented into common cobra, common krait, Russell Viper, and others.
Considering anti venom drugs classification, the global Snake Antivenom and Recoil Market covers cytotoxic, neurotoxic, haemotoxic, cardiotoxic, myotoxic, and others.
The product types in the global Snake Antivenom and Recoil Market are snake anti-venom, spider anti-venom, scorpion anti-venom, and others. The segment of snake anti-venom accounts for the largest share in the global market on account of the high prevalence of poisonous snake bites that lead to high rate of mortality as well as morbidity with no anti-venom treatment.
The end-users in the global Snake Antivenom and Recoil Market are hospitals, clinics, ambulatory surgical centers, and others.
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In 2019: the wake of increasing snakebite mortality rate, the Kenya Ministry of Health will soon be producing anti-snake venom locally in the country, ensuring a sustainable supply throughout the year. The ministry has come up with two brands of snake antivenom which have been produced by venom collected from African snakes.
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