In 2022, the global bee venom extract market is estimated at US$ 327.5 Million. The market is likely to reach nearly US$ 540 Million by 2032, with a growing CAGR of 5.1% from 2022 to 2032.
Apitoxin, or bee venom, is a colourless and bitter liquid. According to the American Apitherapy Association, Apitherapy is the medicinal use of honeybee products such as venom extract and bees. The bee venom treatment employs bee venom to cure diseases that do not respond to regular western medicine. Curing arthritis, anti-inflammatory, pain relief, and additional claims include acne, psoriasis, and scarring from skin cancer are just a few of the activities of bee venom. One gramme of bee venom requires around 10,000 bee stings. As a result, venom is about seven times more precious than gold.
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Global Bee Venom Extract Market: Drivers and Restraints
One of the major factor driving the bee venom market is the extensive usage of the medicinal products. For instance, bee venom is used majorly in Europe from several decades especially for the treatment of rheumatic diseases. The live bees, as well as the venom extracts, are used for the treatment in Europe.
People are also entering the bee venom business as it is one of the most profitable companies and the collector can increase his income by almost 200%. Another major factor, affecting the bee venom market is the innovation in the bee extraction equipment’s which makes it easy for the manufacturers to extract the bee venom from the hive. The device fits under brood chamber of a colony of the bees.
However, the major restraint while collecting the bee venom is the holder techniques and this results in the death of the bee if not handled properly. As a result, dropping its stinger in the collecting device. Earlier the bees were caught when the bees return to their hive. They are given shock waves with electricity and pressed between the rolls so that they sting. However, during this process many of the bees are crushed and also the venom gets contaminated. In another method, the bees are triggered to sting into the plastic or rubber dam.
Global Bee Venom Extract Market: Segmentation Overview
The Bee venom is used in the recovery of many diseases, and few of the major diseases are completely healed. The bee venom is used for the treatment of rheumatic diseases, multiple sclerosis, rheumatic fever, high blood pressure, sciatica, psoriasis, hematomas, various skin conditions, and burns, among other. According to the Russian Institute, the bee venom cures cancer and destroy the AIDS virus. The powder form of venom is gaining traction in the market. The venom bee is costlier and costs around $ 80 per gram. Bee venom has numerous therapeutic applications. The bee venom has a stimulating effect on the heart muscles and also controls the cholesterol levels of the body. Bee venom also has antibiotic properties.
Global Bee Venom Extract Market: Regional Outlook
The global bee venom market is segmented by regions into North America, Latin America, Western Europe, Eastern Europe, Middle East & Africa (MEA), Asia-Pacific excluding Japan (APEJ), and Japan. Bee venom is not much used in the U.S. The primary reason being the lack of availably of beehives in the country. Honey bees are never available in sufficient quantities in the country for analysis and clinical testing. Bee venom is mostly used in Russia, Japan, America, New Zealand, and in the eastern countries where their apitherapy is irreplaceable owing to the variety of products offered.
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Global Bee Venom Extract Market: Prominent vendors
Few of the prominent players in the global bee venom extract market are Bee Whisper, ApiHealth NZ Ltd, Fernz, and Abeeco Pure, among others. Few of the strategies adopted by the key players in the market are partnership and collaboration with other operators, expansion into the untapped market, and joint ventures with the organizations in emerging countries to gain the strong foothold in the market.
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Regional analysis for Market includes
- North America
- Latin America
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Global Bee Venom Extract Market: Segmentation
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