According to the research report titled “Global Anti-venom Market by Species (Snake, Scorpion, Spiders, and Other Species), Anti-venom Type (Polyvalent Anti-venoms, Monovalent Anti-venom, and Other Anti-venom Types), Regional Forecasts 2021-2027”, available with MarketStudyReport, global anti venom market, valued approximately at USD 0.97 billion in 2020, is anticipated to grow at a strong y-o-y rate of more than 8.54% over 2021-2027 and is expected to reach USD 1.7 billion towards the end of the forecast period.
 

As per the report findings, technological advancements and increasing awareness among people about the available venom treatments are expected to drive global anti-venom market growth over the forecast period.
 

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For the unversed, anti-venom, also known as antivenin or anti-venene, is a biological treatment for poisonous bites and stings. The only way to treat a venomous bite is by using specialized anti-venoms. Snakes, scorpions, and spiders are among reptile bites that require anti-venom vaccine.
 

Citing a major development, scientists from Clodomiro Picado Institute of University of Costa Rica (ICP-UCR), in 2018, developed an antidote that can neutralize venom of black mamba snake (Dendroaspis polylepis), a highly venomous snake of Elapidae family native to Sub-Saharan Africa areas. Continuous efforts towards development of such anti-venoms will sustain the profitability of businesses in this domain.
 

On the contrary, poor regulatory framework and along with complexities with production of correct immunogens may hinder global anti-venom industry revenue over the projection period.
 

Based on the anti-venom type, the industry is split into polyvalent, monovalent, and others. Of these, polyvalent anti-venoms are particularly beneficial in areas having a high number of venomous species and producing monovalent antivenoms against all of them becomes a concern. Leading companies are focusing on develop these anti-venoms due to their multiple benefits.
 

From regional perspective, Asia Pacific holds a coveted position in the industry due to high frequency of snake bites and other poisonous bites incidences in countries such as Bangladesh and India. As a matter of fact, Journal of Association of Physicians of India in 2017 reported that 50,000 people die in India each year as a result of venomous snake bites.
 

Elaborating on the competitive landscape, Boston Scientific Corporation, Boehringer Ingelheim International GmbH Co., Bharat Serums and Vaccines Ltd., Merck & Co. Inc., Rare Disease Therapeutics Inc., Flynn Pharma Ltd., CSL Ltd., Pfizer Inc., and Micropharm Ltd. are top contenders impacting global anti-venom market trends.