Europe Antivenom Market is expected to reach USD 340.3 million by 2021 from USD 264.0 million in 2016, growing at a CAGR of 5.21% during the forecast period 2016-2021. Antivenom is described as the biological product that detoxifies poisoning of venomous bites. Antivenom is prepared from the milking venom of animals such as snakes, spiders, scorpions, and other venomous animals. Venomous bites result in certain clinical conditions such as secretion of excessive saliva, muscle weakness, breathing problems, and other difficulties that may lead to death also. It is estimated that, approximately 15,000-20,000 people die with snake bites annually in Europe. To overcome poisonous effects after venomous bites the manufacturers developed number of Antivenom products including vaccines and hyperimmune sera.
Growing involvement of research institutes to support the development of effective antivenom products, existence of established medical care system, and development of effective antivenom products against multiple venomous animals are driving the growth Europe Antivenom Market. However, stringent regulatories, high cost of the products, and limited accessibility of antivenom products are restraining the growth Europe Antivenom Market.
Europe Market for Antivenom broadly categorized into type and animal. On the basis of type, Europe Antivenom market is segmented into Vaccines and Hyperimmune Sera (Homologous & Heterologous). Based on animal the market is segmented into Snakes, Scorpions, Spiders, and Others. Geographically, Europe Antivenom market is segmented into United Kingdom, Germany, France, Italy, and Spain.
Key market players in the Antivenom market include Instituto Bioclon, S.A. de C.V. (Mexico), Pfizer AG (Switzerland), CSL Limited (Australia), F. Hoffmann-La Roche Ltd. (Switzerland), Merck & Co., Inc. (U.S.), Rare Disease Therapeutics, Inc. (U.S.), Vins Bioproducts Limited (India), BTG Plc (U.K.), Incepta Vaccine Ltd. (Bangladesh), and Bharat Serum and Vaccines Limited (BSV) (India).