Global Antidote Market to Record Significant Rise in Revenue Share Owing to the Augmenting Demand in COVID-19 Pandemic and Forecast 2016-2024

The use of Antidotes is since the early history of medicine. Antidote is agent that counters the effects of poison or over dosage by another drug. It helps in neutralizing the dangerous effects of a poison in body and has scientific approaches that have been taken to assess the therapeutic value of antidotes. Most important development are related to the role of antidotes in the management of poisoning cases that have incurred in past few years. Various studies for instances, toxicodynamic and toxicokinetic is expected to help in improving the approach taken for the development and evaluation of antidotes. In addition due to increasing global concern for the effectiveness of antidotes has resulted in the exchange of knowledge, scientific information and clinical experience between health care professionals and scientists from different parts of the world. The evolution of antidotal therapy has been characterized with the help of new antidotes such as monoclonal antibodies, also by accurate scientific approach for the effectiveness and the complications that may occur, by novel applications of existing pharmaceuticals, and by increased cooperation and collaboration at global level.

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According to the World Health Organization (WHO) it is projected per year there more than 5 Mn people globally are bitten by snakes, out of which around 100,000 develop severe sequelae. In India mortality is around 30,000 and in the U.S. it was around 50,000 cases of bites out of which 7,000 cases were by venomous snakes. Some key factors such as rising awareness and studies that are conducted for development in identifying toxins in venom bites that by government and companies for better knowledge of these drugs and antidotes is likely to drive the growth of antidote market over forecast period. Identification of snakes is highly important so as to know whether it is snake- specific anti-venoms which are less hazardous as compared to polyvalent anti-venoms. However antidote market has some restraints such as low product of anti-venoms due to rising prices of anti-venoms repressed demand resulting the treatment has declined significantly or even disappeared in some areas is expected to hinder the growth of the antidote market.

How the Coronavirus Threat has Taken Global Business into Uncharted Waters

The global antidote market is segmented on the basis of antidote type, route of administration, and regional presence:

Segmentation based on Antidote Type:

Chemical Antidotes
Physical Antidotes
Pharmacological Antidotes

Segmentation based on Route of Administration:

Orally

Capsules/Tablets
Syrup

Injectable

Rise in the incidence of snake bites is expected to boost the antidote market over the forecast period. In addition with better awareness among general population, significance of this condition and better understanding of these antidotes is expected to drive the antidote market during the forecast period.

Geographically the antidote market is segmented into five key regions: North America, Latin America, Europe, Asia Pacific and MEA region.

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MEA followed by Asia Pacific is dominating the antidote market as high number of cases found in these regions. According to WHO in Africa there are around 1 Mn snake bites annually with 50,000 in need of treatment, 25,000 deaths and another 25,000 permanent disabilities. This is majorly due to poor reliable reporting system in these regions and failure to report the injury to health care facilities, these numbers are uncertain. In Asia Pacific region the antidote market is expected to deliver significant growth owing to high population density and extensive agricultural activities, this is expected to boost the demand for antidote market over the forecast period. However unsatisfactory market growth in the region such as Latin America owing to lack of functional snake bite control programs and snake bite management is unsatisfactory in this region. North America and Europe is expected to deliver healthy growth due to increasing knowledge of snake venoms' composition, sufficient product of anti-venoms and better knowledge of clinical features of envenoming.

Some of the companies in the Antidote market are ,

Boehringer Ingelheim Pharmaceuticals
AstraZeneca
Novartis International AG
Eli Lilly and Company

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