The Schmallenberg virus is an emerging arthropod-borne viral disease primarily affecting domestic and wild ruminants. The virus causes miscarriages, stillbirths and severe malformations in newborn animals. Treatment of the disease involves vaccination and supportive care of infected animals. Live attenuated and inactivated vaccines are available to control outbreaks and limit economic losses for farmers and producers. The global Schmallenberg virus treatment market consists of drugs and vaccines administered to cattle, sheep and goats. Treatment with antiviral drugs aids in reducing clinical symptoms and faster recovery of infected livestock. Vaccination helps in building immunity and preventing severe impacts of the virus.
The global Schmallenberg Virus Tr and eatment Market is estimated to be valued at US$ 110 Mn in 2023 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 key trends:
One of the key trends in the Schmallenberg virus treatment market is the development of novel vaccines with improved efficacy. Researchers are focusing on designing vaccines that can provide longer lasting protection and work against evolving virus strains. Advanced vaccine technologies like DNA vaccines and recombinant vaccines are being explored. This would help farmers in controlling outbreaks more effectively with fewer doses. Another trend is the focus on developing rapid diagnostic tests that can detect the presence of virus within hours instead of days. This enables timely treatment intervention and isolation of infected livestock to contain the spread.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderate as the biopharmaceutical industry requires extensive R&D investment and clinical trials for new product development.
Bargaining power of buyers: The bargaining power of buyers is moderate since there are no substitutes currently available for Schmallenberg virus treatment.
Bargaining power of suppliers: The bargaining power of suppliers is low given the proprietary ingredients and formulations required for Schmallenberg virus treatment drugs.
Threat of new substitutes: The threat of new substitutes is high as researchers are exploring alternative treatment strategies like vaccines.
Competitive rivalry: The competitive rivalry is high among existing players to gain more market share.
Key Takeaways
The Global Schmallenberg Virus Treatment Market Growth is expected to witness high growth over the forecast period. 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.
Europe is currently dominating the market due to the high prevalence of the virus in the region. Outbreaks were first reported in Germany, Netherlands and Belgium in 2011. North America is expected to be the fastest growing market due to increasing research activities focused on developing effective therapeutics. The US and Canada are investing heavily in drug development to address unmet medical needs.
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 are focused on gaining approvals for new drugs and expanding their geographical presence through strategic collaborations.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it