New Research Study "Anti-venom Market Booming Worldwide Report by 2028 | BTG plc. Laboratorios Silanes, CSL Limited

SEATTLE, UNITED STATES, UNITED STATES, January 12, 2022 /EINPresswire.com/ -- The global anti-venom market was valued at US$ 504.9 Mn in 2020, and is expected to witness a CAGR of 4.7% during the forecast period (2021 – 2028).

The process of making antivenom is very complicated. It involves extracting antibodies from the blood of a horse. This plasma is centrifuged to remove unwanted proteins. Ideally, the antivenom must contain at least 99.98% active ingredient. Then, it should be injected back into the horse. To produce this antivenom, the serum must be filtered. The process begins by precipitating unwanted proteins from the plasma. This can be achieved by adjusting the pH of the solution and adding salts. Once this is done, enzymes are used to break down the antibody into smaller parts and isolate the active ingredient.

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Recent Developments

Major players operating in the global anti-venom market are focused on extending extend the expiration date of products. For instance, in 2018, Pfizer, Inc. worked with the U.S. Food and Drug Administration (FDA), to extend the expiration date of Antivenin’s Lot No. L67530 for an additional 12 months.

Global Anti-Venom Market: Drivers

Increasing awareness regarding snakebite is expected to propel growth of the global anti-venom market over the forecast period. For instance, in May 2016, the Health Action International (HAI) and Global Snakebite Initiatives (GSI) partnership took initiative to promote a Member State side-event on snakebite at the World Health Assembly, in order to increase awareness of the global snakebite burden, amplify existing, but underused health systems and scientific innovations.

Moreover, increasing cases of snake bites is also expected to propel growth of the global anti-venom market over the forecast period. For instance, around 50,000 deaths are recorded in India annually, due to venomous snake bites, according to a study published in the Journal of the Association of Physicians of India, in 2017.

Global Anti-Venom Market: Opportunities

R&D of new products is expected to offer lucrative growth opportunities for players in the global anti-venom market. For instance, researchers from University of Arizona reported developing polyvalent F(ab)2 Equine, an anti-venom indicated for the treatment against the North American coral snake (Micrurus) bite.

Market Trends

Major players operating in the global anti-venom market are focused on approval and launch of new products to expand their product portfolio. For instance, in October 2018, the U.S. Food and Drug Administration approved Anavip, an anti-venom against the bite of snakes of the Crotalus family, from Silanes Laboratories.

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Global Anti-Venom Market: Restraints

High cost of products is expected to hinder growth of the global anti-venom market over the forecast period. For instance, in sub-Saharan Africa, the direct cost of anti-venom alone ranged from US$ 55 to US$ 640 for an effective treatment, using recommended doses, with the average cost being US$ 124.7, according to World Health Organization.

Moreover, low adoption of anti-venom in emerging economies is also expected to hinder growth of the global anti-venom market over the forecast period. For instance, only 3% of snake bite victims visit hospital for their treatment in Bangladesh, according to a study published in the Journal of Pharmacology & Clinical Toxicology, in June 2018.

Global Anti-Venom Market: Competitive Landscape

Major players operating in the global anti-venom market include, Bharat Serums and Vaccines Limited, BTG plc, CSL Limited, Haffkine Bio-Pharmaceutical Corporation Ltd., Incepta Pharmaceuticals Ltd., Laboratorios Silanes, Merck & Co., Inc., Pfizer, Inc., Rare Disease Therapeutics Inc., and Vins Bioproducts Limited.

Global Anti-Venom Market: Key Developments

Major players operating in the global anti-venom market are focused on extending extend the expiration date of products. For instance, in September 2018, the U.S. Food and Drug Administration approved updating the shelf life of CroFab Crotalidae Polyvalent Immune Fab (Ovine) from BTG plc. to 60 months.
Major players operating in the global anti-venom market are focused on approval and launch of new products to expand their product portfolio. For instance, in 2017, Rare Disease Therapeutics, Inc., a partner of Silanes Laboratories, launched Anavip in the U.S. market.

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The following are the study objectives for this report:

· SWOT Analysis focuses on worldwide main manufacturers to define, assess, and analyse market competition. By kind, application, and region, the market is defined, described, and forecasted.
· Examine the global and main regional market potential and advantage, opportunity and challenge, constraints and risks.
· Determine whether trends and factors are driving or limiting market growth.
· By identifying high-growth categories, stakeholders would be able to analyse market potential.
· Conduct a strategic study of each submarket's growth trends and market contribution.
· Expansions, agreements, new product launches, and acquisitions in the market are all examples of competitive developments.
· To create a strategic profile of the main players and analyse their growth plans in depth.

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