The global anti-venom market size was valued at US$ 504.9 Mn in 2018, and is expected to witness a CAGR of 4.7% during the forecast period (2018 – 2026).

Anti-venom is a medication used to treat poisonous animal bites, such as those from snakes, scorpions, spiders, jellyfish, stonefish, and other dangerous creatures. Monovalent and polyvalent anti-venoms are the two types of anti-venoms. Monovalent anti-venoms, also known as monospecific anti-venoms, are anti-venoms that are limited in use to a single species of venomous snake or a few closely related species whose venoms show clinically effective cross-neutralization with anti-venom, according to the World Health Organization (WHO). Anti-venoms developed by fractionating plasma from animals inoculated with a mixture of venoms from various species of venomous snakes are known as polyvalent anti-venoms.

The worldwide anti-venom market is predicted to increase due to a strong pipeline and frequent approval of new anti-venoms.

The University of Arizona is working on polyvalent F(ab)2 Equine, an anti-venom market that will be used to treat the bite of a North American coral snake (Micrurus). The medicine is currently undergoing a phase 3 clinical trial and is likely to receive FDA approval in the near future. The presence of such novel medications in the pipeline is projected to assist the growth of the global anti-venom market throughout the forecast period.

During the forecast period, approvals and launches of novel medications in key regions are expected to be a prominent factor driving the anti-venom market growth. For example, Silanes Laboratories got FDA clearance for Anavip, an anti-venom drug, in October 2018.

Furthermore, prominent market participants are concentrating on improving shelf life and extending the expiration date of their products. For example, BTG plc. stated in September 2018 that the US Food and Drug Administration (FDA) had approved an extension of the shelf life of CroFab Crotalidae Polyvalent Immune Fab (Ovine) to 60 months.

Pfizer, Inc. collaborated with the US Food and Drug Administration (FDA) in 2018 to extend the expiration date of Antivenin Lot No. L67530 by a year.

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