8. Emerging Markets Beyond Human Indications:
While antiVenX plans to focus initially on drug-based treatments for
humans, we anticipate pursuing the veterinary marketplace as a strong
secondary commercial position. The later also shoulders far less
regulatory burden and therefore products in this category may come to
market earlier than those intended exclusively for human use. Finally, the wider
anti-toxin/anti-venom
market space, which includes not only dangerous reptiles, but also
insects, arachnids, poisonous
plants and microorganisms is currently estimated to exceed US$15B
annually. Finally, and perhaps most significantly, is the fact that the
venom antidote marketplace is not restricted to only those unfortunate
people who are actually bitten. It also includes the much larger
market space of outdoor enthusiasts, rural workers, farmers and hikers
around the globe who would choose to purchase a stable and affordable
kit for field treatment, if it were available. In 2017, it was estimated that in the US alone there were nearly 45 million individuals who engaged in hiking activities.
Assuming a kit retails for US$95 + taxes, and 25% of hikers made a
purchase, the gross estimated income for the US market alone would be
>US$1.0 billion.
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