Schmallenberg Virus Treatment Is Estimated To Witness High Growth Owing To Increasing Disease Prevalence
The Schmallenberg virus is an Orthobunyavirus of the family Bunyaviridae that predominantly affects cattle, sheep and goats. Similar to influenza viruses, Schmallenberg virus can cause fever, reduced milk production, and diarrhoea in adult animals. In newborn animals, the virus can lead to malformations like arthrogryposis and hydopcephalus. The virus is transmitted by biting midges of the Culicoides type. With the growing epidemic of the disease and its impact on animal health and welfare, the demand for effective prevention and treatment options has increased substantially.
The global Schmallenberg Virus Treatment Market is estimated to be valued at US$ 110 Mn in 2023 and is expected to exhibit a CAGR of 15% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
The growing prevalence of the Schmallenberg virus disease is a key driver contributing to the growth of this market.According to studies, the virus has rapidly spread across Europe since its emergence in 2011, affecting a large cattle population. It has been reported in over 20 countries across Europe. As there is no vaccine currently available against the disease, treatment mainly involves supportive care of clinical symptoms. This is increasing the demand for antiviral drugs and other therapeutic products that can help combat infection and reduce complications in newborn animals. Furthermore, rising awareness among farmers about the economic impact of the disease is also prompting them to focus on effective prevention and control,thus propelling the market growth over the forecast period.
SWOT Analysis
Strength: The Schmallenberg virus treatment market has high prospects for growth over the forecast period due to the rising demand for treatment drugs and vaccines. Several major drug companies are investing heavily in research and development of effective antiviral drugs and vaccines to control Schmallenberg virus infection.
Weakness: There is currently no approved vaccine or specific treatment for Schmallenberg virus infection. Most cases are mild and usually do not require any medical treatment as the virus infection can be self-limiting. However, outbreaks can cause severe economic losses to cattle farmers.
Opportunity: The development of an effective vaccine against Schmallenberg virus will open up major opportunities to prevent infections in cattle and reduce losses to livestock industries. Governments and international animal health organizations are supporting research to develop low-cost treatment options.
Threats: Unknown epidemiology and transmission dynamics of the Schmallenberg virus pose challenges to control measures. Variation in disease manifestations and lack of permanent immunity also threaten efforts to develop long-lasting treatment solutions. Climate change may aid the geographical spread of the virus to new regions.
Key Takeaways
The Global Schmallenberg Virus Treatment Market Growth is expected to witness high growth over the forecast period of 2023-2030. The market size was valued at US$ 110 million in 2023 and is expected to grow at a CAGR of 15% through 2030.
Regional analysis: Europe dominates the global Schmallenberg virus treatment market currently with over 60% share as the infection was first reported in Germany in 2011 and spread across other European countries. However, demand is fast emerging in Asia Pacific and Latin America as well due to rise in cross-border livestock trade and increasing trade ties between European and other nations. Countries with active cattle populations and weak livestock health monitoring systems are more vulnerable to outbreaks.
Key players: Key players operating in the Schmallenberg virus treatment market are Americold Logistics, Lineage Logistics, AGRO Merchants Group, Nichirei Corporation, Preferred Freezer Services, Swire Cold Storage, Kloosterboer, DHL Global Forwarding, UPS Cold Chain Solutions, FedEx Custom Critical, Burris Logistics, and Maersk Line. These companies offer supply chain and cold chain logistics solutions that are vital to distribute temperature-sensitive samples and drugs during outbreaks and clinical trials.
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