Dublin, Feb. 08, 2023 (GLOBE NEWSWIRE) -- The "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, By Company and By Region" report has been added to ResearchAndMarkets.com's offering.

The global venom-based drugs market is anticipated to observe impressive growth during the forecast period, 2023-2027

The major factors include growing incidences of various diseases, and rise in initiatives by government and private organizations, which are curbing the growth of the market. Venom is a compound which is secreted by an animal.

It is a poisonous compound which intended to harm or disable their prey or enemy. When venom is produced through organisms, it includes variety of bioactive components which produce toxic effects. Only those active components of these venoms are isolated, purified, and screened which may have desirable therapeutic properties.

The other factors supporting the market's growth are, the extensive research and development, large number of clinical trials, increasing awareness, and government investments, large number of venomous animals, ease in approval of new venom-based drugs, and technological advancements in this field.

Increasing Use of Venom in Numerous Diseases

Venom derived drugs are very useful in treating various diseases such as cancer, heart attack, hypertension, acute coronary syndrome, and other, due to their potential therapeutic values, which propels the growth of the market. Several venom-based drugs are already in use such as captopril, integrilin, reptilase, exanta and others.

Moreover, these venom-based drugs are used as diagnostic tools, cosmeceuticals and for drug discovery. For instance, in 2020, a study concluded that bee venom therapy might be useful in treating inflammatory forms of arthritis. Similarly, captopril is a type of drug used to cure high blood pressure and reduce the risk of heart failure after a heart attack. It is derived from a species of pit viper which is found in Brazil.

Technological Advancements and Rise in R&D activities

Owing to rising number of patients suffering from variety of diseases, the surge in demand for the treatment, is augmenting the growth of the market, globally. Various R&D activities are carried by researchers in order to treat these diseases using venom from various animals. The toxins from venom such as proteins, peptides, carbohydrates, and other components are important research tools.

Subsequently, other reasons that make animal venoms attractive to researchers across the globe are the specialization, richness, and efficiency of the components present. Also, advancement in genomics, transcriptions and proteomics helps in study of these toxins, which further aids scientists to understand the venoms and their target.

For instance, tozuleristide, a diagnostic drug obtained from the venom of the Israeli deathstalker scorpion, is now in clinical trials. An element of the venom, called chlorotoxin, binds to tumor cells. Researchers at the Fred Hutchinson Cancer Research Center re-engineered this protein and attached a fluorescent tag to it, resulting in a diagnostic tool that seeks out and illuminates tumors.

Competitive Landscape

Company Profiles: Detailed analysis of the major companies

• 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.

Voice of Customer

• Benefits of Using Venom Based Drugs

• Commonly Used Animals for Deriving Venom Based Drugs

• Demand for Venom Based Drugs, By Therapeutic Area

• Barriers to Adoption of Venom Based Drugs

Report Scope:

Venom Based Drugs Market, By Animal Type:

• Snake

• Spider

• Bee

• Others

Venom Based Drugs Market, By Source:

• Whole Venom

• Synthetic

• Recombinant

• Others

Venom Based Drugs Market, By Therapeutic Area:

• Hypertension

• Cardiovascular Diseases

• Neurological Disorders

• Pain Management & Arthritis

• Others

Venom Based Drugs Market, By Region:

• North America

• United States

• Canada

• Mexico

• Asia-Pacific

• China

• India

• Japan

• Australia

• South Korea

• Europe & CIS

• Germany

• France

• United Kingdom

• Spain

• Italy

• South America

• Brazil

• Argentina

• Colombia

• Middle East & Africa

• South Africa

• Saudi Arabia

• UAE

For more information about this report visit https://www.researchandmarkets.com/r/2cde9z-based-drugs?w=12

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