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Antivenom Market, Size, Share, Outlook and Growth Opportunities 2019-2026


(EnergyIndustry.Net, March 27, 2020 ) Market Overview
• The Global Antivenom Market is expected to grow at a CAGR during the forecasting period (2019-2026).
• Antivenom is a medication, which is made from hyperimmune globulins and various other serum proteins extracted from the animals and are used to treat venomous bites and stings. They are generally recommended if there is significant toxicity or a high risk of toxicity. Antivenom is currently the mainstay of therapy for the venomous snakebites victims, which have reduced the mortality of this condition. As antivenom treatment being the only authorized treatment for snakebites with no other alternative options, it is giving opportunities for the key players to emerge in the global antivenom market.

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Market Dynamics
• Global antivenom market growth is driven by increasing government initiatives to promote the development of antivenom products of high quality, increased number of snakebites victims, recent FDA approvals of antivenom products, expanded research in developing high quality and advanced antivenom products.
• Increasing government initiatives for the development of high-quality antivenom products and funds from non-profit organizations is expected to boost the market over the period of forecast. For instance, in December 2015 a program was launched by WHO to evaluate the potential safety and effectiveness of current antivenom products intended for use in sub-Saharan Africa. On December 9, 2016, global snake initiative, an internationally-active non-profit organization, which is registered in Australia, has issued the position statement on the steps needed to control snakebite envenoming globally. In 2017, a Snakebite Envenoming Working Group was formed which deals with WHO road map on snakebites. This strategy mainly focuses on a 50% reduction in mortality and disability caused by snakebite envenoming by 2030. Wellcome's Trust has announced (103 USD Million) program, on May 16, 2019, aims in improving the existing therapies and also supports the development of high-quality antivenoms that can treat toxins of different species of snakes.
• Increased research in the development of antivenom is expected to boost the market. For instance, the investigation of the use of small molecule inhibitors, which are currently being evaluated for their ability to neutralise the effects of enzymatic toxins is being done. They include small molecule inhibitors against enzymatic toxins and peptides, oligonucleotide-based aptamers and antibody-based biotherapeutics against both enzymatic and non-enzymatic toxins. One of the promising small molecule inhibitors is varespladib, and it may have the potential to become a broad-spectrum orally administered first line treatment for snakebite victims, or possibly an anti-PLA2-specific supplement to conventional antivenom therapy. Also, the increased research efforts on nanobodies and human antibody formats will occur over the forecast period. Other research efforts within the field of recombinant antivenom include polyclonal plantivenom which uses the phage display technology which is aimed at optimizing production rather than the stability of antivenoms.
• Increase in the number of snakebites may boost the market over the period of forecast. For instance, according to WHO, 4.5–5.4 million people a year are bitten by snakes, and 1.8–2.7 million of them will develop clinical illness (envenoming) after snakebite, and the deaths may range from 81,000 to 138,000.
• Recent FDA approvals are expected to drive the global anti-venom market over the forecast period. For instance, in October 2018, Silanes Laboratories has received FDA approval for Anavip, against rattlesnake bite.
• However, withdrawal of antivenom products, high cost of products, stringent regulations, high cost for maintaining livestock for antivenom production are restraining the market. The high price of anti-venom products is likely to hamper the market. For instance, a typical antivenom vial costs $1,500 to $2,200, but a snake bite requires between 20 and 25 vials to get neutralized. Hence, a man bitten in the US by a venomous snake would have to spend $30,000 in pharmacy costs alone.

Segment Analysis
• Based on type, the global antivenom market is segmented into polyvalent heterologous antivenom, monovalent heterologous antivenom, homologous antivenom, and small molecule anti-toxins.
• Polyvalent heterologous antivenoms segment is expected to boost the market over the period of forecast. This is owing to the presence of FDA approved antivenoms. The polyvalent anti-venoms are produced by using the hyper-immunizing venom from two or more species, and the resultant anti-venom usually contains the neutralizing antibodies against the venom of two or more species. They are generally useful in regions where there are too many poisonous species to produce monovalent anti-venoms against all of them. For instance, CROFABฎ Crotalidae a polyvalent immune fab (ovine) Lyophilized Powder for Solution for Intravenous Injection is used for the management of adult and pediatric patients with North American crotalid envenomation. Antivenin (Micrurus fulvius), of Wyeth pharmaceuticals (equine origin), is indicated for the treatment of envenomation caused by the bites of Micrurus and Micruroides.
• Based on species, the global antivenom market is segmented into snakes, scorpions, spiders, and others. The Snakes segment is further segmented into common krait, common cobra, russell viper, and others.
• Snakes segment is expected to propel the global antivenom market. This is owing to the increased number of snakebites globally. For instance, according to WHO, more than 5 million snakebites occur worldwide each year, resulting in 2.5 million envenomations and 81,000 to 138,000 deaths. Snakebite envenoming causes as many as 400,000 amputations and other permanent disabilities. Of the 3000 or so, snake species in the world, around 600 are venomous snakes.
• Scorpions segment is expected to grow at a significant rate in the market over the period of forecast. This is owing to the FDA approvals. For instance, on August 4, 2011, US FDA for the first time has approved antivenom specifically for the treatment of Centruroides scorpion stings.
• Based on the mode of action, the global antivenom market is segmented into cytotoxic, neurotoxic, haemotoxic, cardiotoxic, myotoxic, and others.
• Based on end-users, the global Antivenom market is segmented into hospitals, clinics, ambulatory surgical centers, and others. The hospital's segment is expected to hold a significant share in the market. This is owing to the easy availability and accessibility of antivenoms in the hospitals, which is the mainstay of treatment for snakebites. However, ambulatory surgical centers segment is expected to grow high over the forecast period by 2.1X times by 2019.

Geographical Analysis
• North America is dominating the global antivenom market in 2018 and estimated to hold the largest market size over the forecast period (2019-2026). This is owing to the abundance of snake population in the region, rising number of snakebites, FDA approvals and government initiatives for the development of high-quality antivenoms.
• For instance, the US has about 20 species of venomous snakes, that includes 16 species of rattlesnakes, 2 species of coral snakes, one species of cottonmouth (or water moccasin), and one species of the copperhead. Also, atleast one species of venomous snake is found in every state except Hawaii. Thus the presence of abundant snake population may lead to an increased number of snakebites over the period of forecast.
• FDA approvals for the antivenoms of North American inhabitant snakes are expected to boost the market. For instance, Rare Disease Therapeutics has announced FDA approval of Crotalidae Immune F(ab')2 (Equine), an equine-derived antivenin for the treatment of North American rattlesnake bites in adult and pediatric patients.
• The increasing number of snakebites is expected to boost the market. For instance, according to CDC in 2013, it has been estimated that 7,000–8,000 people per year have venomous snake bites in the US, and about five of those people die.

Competitive Landscape
• Some of the major players in the Global antivenom market are Pfizer, Merck, Haffkine Bio-Pharmaceutical Corporation Ltd, CSL Behring,Bharat Serums and Vaccines Ltd., Rare Therapeutics, Incepta vaccines Ltd and Vins Bioproducts Limited.
• The key players are adopting various strategies such as product launches, mergers & acquisitions, partnerships, and collaborations, which are contributing to the growth of the Antivenom market globally. For instance,
• FDA has extended the expiration date on Antivenin (Micrurus fulvius) (Equine Origin), from January 31, 2019, to January 31, 2020 for Coral Snake Antivenom product manufactured by Wyeth Pharmaceuticals, which is now a wholly-owned subsidiary of Pfizer, Inc.
• In September 2018, BTG plc. announced the FDA approval for updating the shelf life of CroFab Crotalidae Polyvalent Immune Fab (Ovine) to 60 months.

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