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Antivenom market Report 2024 – Market Size, Trends, And Forecast 2024-2033
The Business Research Company's Antivenom Global Market Report 2024 – Market Size, Trends, And Forecast 2024-2033
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LONDON, GREATER LONDON, UK, September 10, 2024 /EINPresswire / -- The antivenom market has experienced robust growth in recent years, expanding from $1.8 billion in 2023 to $1.94 billion in 2024 at a compound annual growth rate (CAGR) of 7.9%. The growth in the historic period can be attributed to the high incidence of snakebites, geographic distribution of venomous snakes, limited access to medical facilities, agricultural and rural activities, and public health initiatives.
What Is the Estimated Market Size of The Global Antivenom Market and Its Annual Growth Rate?
The antivenom market is projected to grow strongly, reaching $2.55 billion in 2028 at a compound annual growth rate (CAGR) of 7.0%. The growth in the forecast period can be attributed to climate change's impact on snake habitats, population growth in snake-prone regions, advancements in antivenom formulations, global health security initiatives, and collaborative efforts for antivenom development.
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Growth Driver of The Antivenom Market
The growing incidence of snake bites is expected to propel the growth of the antivenom market going forward. Snake bites are injuries that can lead to a potentially fatal disease caused by toxins in a venomous snake's bite. Antivenom is a specialized treatment that, when taken early and in an adequate therapeutic dose, can potentially prevent or reverse most of the symptoms of snakebite envenoming.
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Which Market Players Are Driving the Antivenom Test Market Growth?
Key players in the antivenom market include Pfizer Inc., Commonwealth Serum Laboratories, Merck KGaA, Incepta Pharmaceuticals Limited, Bharat Serums and Vaccines Limited, Rare Disease Therapeutics Inc.
What Are the Dominant Trends in Antivenom Market Size and Growth?
Product innovations are a key trend gaining popularity in the antivenom market. Companies operating in the antivenom market are developing innovative products to sustain their position in the market.
How Is the Global Antivenom Market Segmented?
1) By Type: Monovalent, Polyvalent, Other Types
2) By Animal: Snakes, Scorpions, Spiders, Other Animals
3) By Mode of Action: Cytotoxic, Neurotoxic, Hemotoxic, Cardiotoxic, Myotoxic, Other Modes Of Action
4) By End User: Hospitals, Clinics, Ambulatory Surgical Centers, Other End-Users
Geographical Insights: North America Leading the Antivenom Market
North America was the largest region in the global antivenom market size in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the antivenom market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Antivenom Market Definition
Antivenom, also known as antivenin, is an antibody therapy that can block the poisons inside a specific venom if injected soon after a bite. It is generally used to treat poisonous animal bites or stings, such as rattlesnakes, moccasins, and copperheads.
Antivenom Global Market Report 2024 from TBRC covers the following information:
.Market size data for the forecast period: Historical and Future
.Macroeconomic factors affecting the market in the short and long run
.Analysis of the macro and micro economic factors that have affected the market in the past five years
.Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
.Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
An overview of the global antivenom market report covering trends, opportunities, strategies, and more
The Antivenom Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on antivenom market size, antivenom market drivers and trends, antivenom market major players, antivenom competitors' revenues, antivenom market positioning, and antivenom market growth across geographies. The antivenom market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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Oliver Guirdham
The Business Research Company
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