Venom Based Drugs Market to be dominated by Rising Research and Development activities through 2027
Growing awareness and
increasing occurrences of diseases to drive the venom-based drugs market in the
forecast period, 2023-2027.
According to TechSci Research report, “Venom
Based Drugs Market - Global Industry Size, Share, Trends, Opportunity,
and Forecast, 2017-2027”, the global venom based drugs market is anticipated
to grow at a significant rate in the forecast period, 2023-2027. The increase in
prevalence of various kinds of diseases, and extensive research and development
are the primary factors driving the demand for the global venom based drugs
market. Growing technological advancements, rising livestock population base, large
number of clinical trials, and rising investments on R&D activities are expected
to influence the market demand. Also, the ease in approval of new venom-based
drugs is a key factor for increasing the growth of the venom based drugs market,
globally.
However, the drug development from animal venom
is an expensive, dangerous, and often unprofitable venture which may likely
hamper the growth of the global venom based drugs market.
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data Figures spread through 110 Pages and an in-depth TOC on "Venom Based Drugs Market"
The global venom-based drugs
market is segmented into animal type, source, therapeutic area,
and company.
Based
on animal type, the market is divided into snake, spider, bee, and others. The
snake segment is expected to witness the significant growth in the upcoming
years. This is ascribed to the large abundance of snake species, and it has
potential therapeutic effects.
Based on source, the market
is divided into whole venom, synthetic, recombinant, and others. The whole
venom sub-segment is expected to hold the considerable market share.
Based on therapeutic area,
the market is segmented into hypertension, cardiovascular diseases,
neurological disorders, pain management & arthritis, and others. The cardiovascular diseases
segment is expected to witness largest market share. This is attributed to the rise
in number of patients suffering from cardiovascular diseases.
Major operating companies
operating in global venom based drugs market are:
- AstraZeneca Plc.
- Bristol-Myers Squibb Company
- Merck & Co., Inc.
- Pentapharm Limited
- Medicure Inc
- Millennium Pharmaceuticals, Inc.
- Bausch Health Companies, Inc.
- Novartis AG
- Elan Pharmaceuticals, Inc.
- Beijing Tobishi Pharmaceutical Co., Ltd.
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“North America region dominates the
market in 2021 and is expected to maintain its dominance in the coming years
due to increased research and innovations in venom based drugs. The huge
investments by government and non-government organization on healthcare sector
and rise in skilled expertise are propelling the market growth. Also, rise in number
of venomous animals in the region are expected to propel the global Venom Based
Drugs market growth till 2027” said Mr. Karan Chechi, Research Director with
TechSci Research, a research based global management consulting firm.
“Venom Based Drugs Market
- Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027 Segmented
By Animal Type (Snake, Spider, Bee, Others), By Source (Whole Venom, Synthetic,
Recombinant, Others), By Therapeutic Area (Hypertension, Cardiovascular
Diseases, Neurological Disorders, Pain Management & Arthritis, Others), By
Company and By Region”, has evaluated the future growth potential of global venom
based drugs market and provides statistics & information on market size,
structure, and future market growth. The report intends to provide cutting-edge
market intelligence and help decision makers take sound investment decisions.
Besides, the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in global venom based drugs
market.
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