Subject: MRR
Anti-Venom Market - 40% of Growth to Originate from North America| Rising Prevalence of Venomous Bites & Stings to Boost Market | 17000+ Technavio Reports
NEW YORK, Jan. 17, 2022 /PRNewswire/ -- 40% of the growth will originate from North America for the anti-venom market. The US is a key market for anti-venom in North America. However, the market growth rate in this region will be slower than the growth of the market in Asia. The increasing number of products in the pipeline and the increased focus on R&D activities from both public and private organizations will facilitate the anti-venom market growth in North America over the forecast period. Technavio has been monitoring the anti-venom market and it is set to grow by USD 481.51 million from 2021 to 2026. The report projects the market to progress at a CAGR of 7.82%.
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Anti-Venom Market: Rising prevalence of venomous bites and stings to drive growth
The healthcare and biotechnology industry is witnessing significant demand from developing economies globally for the anti-venom market. The key factor that drives the growth of the anti-venom market is the demand for anti-venom treatment being the only authorized treatment for snakebites. Destroying forest lands for agricultural and housing, construction purposes has increased the chances of human beings to poisonous insects and animals, which, in turn, increases the prevalence of venomous bites with a large number. The high prevalence of snakebites, scorpion bites, and other animal or insect bites, such as fish stings, is driving the growth of the anti-venom market.
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Anti-Venom Market: Segmentation Analysis & Revenue Generating Segment
This market research report segments the anti-venom market by Type (polyvalent anti-venom, monovalent anti-venom, and other anti-venom types) and Geography (North America, Asia, Europe, and ROW).
The anti-venom market share growth by the polyvalent anti-venom segment will be significant for revenue generation. Polyvalent anti-venoms save the life of the victim even when the culprit snake is unknown. It is almost about 80% of all the time, in the most usual cases, and when a monovalent anti-venom cannot be chosen. Due to such beneficial advantages, polyvalent anti-venoms are the most preferred anti-venom drug. Polyvalent anti-venoms are generally useful in regions where a large number of venomous species are present and when it is difficult to produce monovalent anti-venoms against all of them. With the number of advantages of anti-venoms, key vendors dealing in the anti-venom market are focusing on developing polyvalent anti-venoms.
Technavio report provides an accurate prediction of the contribution of all the segments to the growth of the anti-venom market size and actionable market insights on each segment that will assist in planning business strategies.
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Some of the key topics covered in the report include:
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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Anti-Venom Market Scope | |
Report Coverage | Details |
Page number | 120 |
Base year | 2021 |
Forecast period | 2022-2026 |
Growth momentum & CAGR | Accelerate at a CAGR of 7.82% |
Market growth 2022-2026 | USD 481.51 million |
Market structure | Fragmented |
YoY growth (%) | 7.10 |
Regional analysis | North America, Asia, Europe, and ROW |
Performing market contribution | North America at 40% |
Key consumer countries | US, China, Japan, India, and Germany |
Competitive landscape | Leading companies, competitive strategies, consumer engagement scope |
Companies profiled | Bharat Serums and Vaccines Ltd., Boehringer Ingelheim International GmbH, CSL Ltd., Haffkine bio pharmaceutical Corp. Ltd., Merck KGaA, Pfizer Inc., Rare Disease Therapeutics Inc., SERB Sarl, Serum Institute of India Pvt. Ltd., and VINS Bioproducts Ltd. |
Market Dynamics | Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID19 impact and future consumer dynamics, market condition analysis for forecast period, |
Customization purview | If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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