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(Medical-NewsWire.com, August 23, 2017 ) Middle-East & Africa Anti-venom Market is expected to reach USD 124.2 million by 2021 from USD 89.9 million in 2016, growing at a CAGR of 6.67% during the forecast period 2016-2021. Antivenom is described as the biological product that detoxifies poisoning of venomous bites.
Antivenom Market 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 35,000-55,000 people are recorded with snake bites annually in Africa. To overcome poisonous effects after venomous bites the manufacturers developed number of Antivenom products including vaccines and hyperimmune sera.
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Growing number of venomous animals bite cases, rising demand for antivenom products, emergence of new Pan-African polyvalent antivenom products using modern proteomic & antivenomic tools, and presence of antivenom financing systems are driving the growth of the Middle-East & Africa Antivenom Market. However, dearth of antivenom products, high manufacturing costs of antivenom products, decreasing antivenom production, and limited adoption of antivenom products are hampering the growth of Middle-East & Africa Antivenom Market.
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Middle-East & Africa Antivenom is broadly categorized into type and animal. On the basis of type, Middle-East & Africa Antivenom market is segmented into Vaccines and Hyperimmune Sera (Homologous & Heterologous). Based on animal the market is segmented into Snake, Scorpion, Spider, and Others. Based on geography, Middle-East & Africa Antivenom market is segmented into Middle-East and Africa.
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).
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