The Global Antivenom Market is expected to reach USD 1,493.2 million by 2021 from USD 1,109.5 million in 2016, growing at a CAGR of 6.12% during the forecast period 2016-2021.
Hyderabad, India -- (SBWIRE) -- 02/06/2018 -- The report "Antivenom Market by Type [Vaccines and Hyperimmune Sera (Homologous & Heterologous)], by Animal (Snakes, Scorpions, Spiders, and Others), and by Region - Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts (2016–2021)" says the Antivenom market is expected to reach USD 1493.2 Million by 2021 from an estimated USD 1109.5 Billion in 2016, at a CAGR of 6.12%.
Rise in government initiatives for improvement in the quality of snake bite antidotes, the high number of snake bite causalities in developing countries and increased number of pipeline products launch are fuelling the market growth. Moreover, development of new antivenom products from venomous creature's chomps and expanding examination to create progressed neutralizer items are further invigorating the development of worldwide Antivenom Market.
A critical test in assembling of antibodies is the arrangement of the right immunogens. At present, not very many nations deliver snake venoms of satisfactory quality for manufacturing. Moreover, the absence of administrative limit with regards to the control of immunizing agents in nations brings about a powerlessness to evaluate the quality and fittingness of the counter-agents. These are some of the challenges that the market needs to overcome.
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The Global market for Antivenom is broadly categorized into type and animal. Based on the type, worldwide Antivenom market is fragmented into Vaccines and Hyperimmune Sera (Homologous and Heterologous). In view of Animals, the market is divided into Snakes, Scorpions, Spiders, and Others.
North America dominated the market in 2016
Based on geography, the worldwide market is broke down into different segments, in particular, North America, Europe, Asia-Pacific, Latin America and Middle-East and Africa. North America is the dominating market sector for Antivenom representing a market share of around 39.0%. North America is followed by Europe in 2016. Asia-Pacific is assessed to be the quickest developing area with a CAGR of 8.59% amid the figure time of 2016-2021.
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The various players in the Antivenom market include Instituto Bioclon, S.A. de C.V., Pfizer AG, CSL Limited, F. Hoffmann-La Roche Ltd., Merck & Co., Inc., Rare Disease Therapeutics, Inc., Vins Bioproducts Limited, BTG Plc, Incepta Vaccine Ltd., and Bharat Serum and Vaccines Limited (BSV).
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