Anti-Venom Market Size

Anti-Venom Market size was valued at USD 674.8 million in 2023 and is set to cross USD 1.99 billion by 2036, expanding at more than 8.7% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of anti-venom is evaluated at USD 721.77 million. The growth of the market can be attributed to the rising technological innovation in the treatment for venomous bite, along with the increasing investment in development of new drugs. Moreover, the growing incidences of snakebites across the globe, is anticipated to further boost the market growth. According to the data by the World Health Organization (WHO), around 5.4 million people are bitten by snakes each year. Moreover, up to 2.7 million people are envenomed yearly. This has resulted in a very high demand for anti-venoms, which is estimated to drive the anti-venom market growth. Along with this, the government concerns to reduce deaths caused by envenoming, and initiatives to produce novel anti-venoms, are projected to boost the market growth. However, several challenges lie with the production of anti-venoms as several countries around the globe do not have regulatory norms to control and monitor the production of these anti-venoms.