Dublin, May 15, 2025 (GLOBE NEWSWIRE) -- The "Crofab Market Report 2025: Epidemiology, Pipeline Analysis, Market Insights & Forecasts" report has been added to ResearchAndMarkets.com's offering.
This Crofab market report delivers an in-depth analysis of the market's key characteristics, including size, growth potential, and segmentation. It provides a detailed breakdown of the market across major regions and leading countries, highlighting historical data and future growth projections. The report also examines the competitive landscape, market share insights, emerging trends, and strategic developments shaping the market.
Market growth during the historic period can be attributed to a rise in snakebite incidents, government initiatives promoting antivenoms, and supportive regulatory policies. The growth projected for the forecast period is driven by increased healthcare spending, heightened awareness of snakebites, and advancements in research and development. Key trends during this period include the development of monoclonal antibodies, next-generation biologic antivenoms, synthetic biology, cell-based immunotherapies, and humanized biologics.
Carofab plays a crucial role in managing snakebite incidents by acting as a rapid and effective antidote to venom, neutralizing toxins, and preventing severe complications. This reduces the risk of death and improves patient outcomes in critical cases. For example, a report published by the National Library of Medicine in October 2023 highlighted that Australia experiences approximately 3,000 snakebites annually, resulting in around 500 hospitalizations and an average of two fatalities each year. Consequently, the increasing frequency of snakebites is fueling the expansion of the carofab market.
The growing expenditure on healthcare is another factor expected to accelerate the growth of the carofab market. Healthcare expenditure encompasses the total financial resources spent on healthcare services and products over a specific period, typically a year. This rise in expenditure is attributed to an aging population, the increasing prevalence of chronic diseases, advancements in medical technology, higher pharmaceutical costs, and expanded access to healthcare services.
Increased healthcare spending benefits carofab by supporting research, production, and distribution of this essential antivenom, ensuring it is accessible to those in need. It also promotes ongoing advancements in treatment methods and strengthens healthcare system sustainability. For instance, the Centers for Medicare & Medicaid Services reported in December 2023 that U.S. healthcare spending grew by 4.1% in 2022, reaching $4.5 trillion, marking an accelerated rise compared to the 3.2% growth in 2021. Thus, the rise in healthcare expenditure is significantly contributing to the growth of the carofab market.
The expansion of emergency care facilities is also anticipated to boost the carofab market's growth. Emergency care facilities provide immediate medical attention for acute illnesses or injuries that require urgent care. The growth of these facilities is driven by the increasing prevalence of acute and chronic illnesses, improved healthcare access, and the need for timely interventions in critical situations.
CroFab, an antivenom designed to treat venomous snakebites from North American pit vipers, supports these facilities by enabling rapid venom neutralization, reducing symptom severity, preventing complications, and improving patient outcomes in critical cases. For example, a report by the Royal College of Emergency Medicine in September 2023 revealed that during the 2022/23 period, accident and emergency departments across England recorded approximately 25.3 million attendances, reflecting a 4% increase from the previous year. This growth in emergency care facilities is driving the demand for carofab in the market.
The key company operating in the crofab market is SERB Specialty Pharmaceuticals. North America was the largest region in the crofab market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The crofab market consists of sales of products including antigen-binding fragment (Fab), and polyclonal antibodies. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
Key Topics Covered:
1. Executive Summary
2. Crofab Market Characteristics
3. Crofab Market Biologic Drug Characteristics
3.1. Molecule Type
3.2. Route of Administration (ROA)
3.3. Mechanism of Action (MOA)
3.4. Safety and Efficacy
4. Crofab Market Trends and Strategies
5. Crofab Market -Macro Economic Scenario Including the Impact of Interest Rates, Inflation, Geopolitics, and the Recovery from COVID-19 on the Market
6. Global Crofab Growth Analysis and Strategic Analysis Framework
6.1. Global Crofab PESTEL Analysis (Political, Social, Technological, Environmental and Legal Factors, Drivers and Restraints)
6.2. Analysis of End Use Industries
6.3. Global Crofab Market Growth Rate Analysis
6.4. Global Crofab Historic Market Size and Growth, 2019-2024, Value ($ Million)
6.5. Global Crofab Forecast Market Size and Growth, 2024-2029, 2034F, Value ($ Million)
6.6. Global Crofab Total Addressable Market (TAM)
7. Global Crofab Pricing Analysis & Forecasts
8. Crofab Market Segmentation
8.1. Global Crofab Market, Segmentation by Clinical Indication, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Million
- Hemotoxic Effects
- Local Tissue Damage
- Systemic Toxicity
8.2. Global Crofab Market, Segmentation by Distribution Channel, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Million
- Hospital Pharmacies
- Retail Pharmacies
- Specialty Pharmacies
8.3. Global Crofab Market, Segmentation by End Users, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Million
- Hospitals
- Clinics
- Ambulatory Care
- Home Care
9. Global Crofab Epidemiology of Clinical Indications
9.1. Drug Side Effects
9.2. Incidence and Prevalence of Clinical Indications
10. Crofab Market Regional and Country Analysis
10.1. Global Crofab Market, Split by Region, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Million
10.2. Global Crofab Market, Split by Country, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Million
For more information about this report visit https://www.researchandmarkets.com/r/tv5iqw
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