by Schmallenberg virus causes fever, diarrhea and decreased milk production in adult animals. It also leads to abortions and birth defects in newborn animals. The virus infects cattle, sheep and goats and is transmitted by insects such as midges and culicoides. Schmallenberg virus was first detected in Germany in late 2011 and has since spread across parts of Europe. Symptomatic treatment includes administration of anti-inflammatory drugs and nutritional supplements to aid recovery. Vaccines developed against the virus provide protective antibodies that prevent infection and disease.
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
Increasing Research Activities to Develop Effective Vaccines: Significant research is being conducted around the world to develop effective vaccines against Schmallenberg virus. Researchers in Europe have recently developed modified live-attenuated and inactivated vaccines that have demonstrated protection in animal studies. This is expected to boost the demand for Schmallenberg virus treatment solutions over the forecast period.
Growing Consumer Awareness Regarding Diseases Affecting Livestock: Rising awareness among farmers and veterinarians about zoonotic diseases that can infect livestock as well as humans has been a major driver for the Schmallenberg virus treatment market. Farmers are more inclined towards preventive healthcare of livestock to avoid financial losses due to morbidities and mortality in animals. This is positively impacting the sales of diagnostic tests and vaccines in the market.
Segment Analysis
Schmallenberg Virus Treatment Market is segmented into product, animal type, and end user. The product segment is further divided into vaccine and drugs. The vaccine segment dominates the market and accounts for around 70% share owing to increasing adoption of vaccination to prevent Schmallenberg virus infection in cattle and small ruminants. The animal type segment includes cattle, sheep, and goats. Among them, the cattle segment holds the largest market share due to high prevalence of the disease in cattle population. The end user segment is bifurcated into veterinary hospitals, veterinary clinics, animal health institutes, and others. The veterinary hospitals segment dominates as it is the primary contact point for companion animal owners and farmers for disease treatment and prevention.
PEST Analysis
Political: Governments across Europe are increasing funding for research on Schmallenberg virus and developing effective treatments. Various regulations have been implemented to control and prevent the spread of the disease.
Economic: The market is witnessing strong growth owing to rising prevalence of Schmallenberg virus infection in cattle population and increasing adoption of vaccination programs by livestock owners and government organizations.
Social: Growing importance of livestock farming and rising consumption of dairy products have raised awareness about Schmallenberg virus among farmers and veterinarians. Various non-profit organizations are conducting educational programs to control the spread of the disease.
Technological: Advancements in vaccine production technologies are helping manufacturers develop cost-effective and long-lasting vaccines. Immune-stimulating adjuvants are being added to vaccines to enhance immune response and durability of protection.
Key Takeaways
The Global Schmallenberg Virus Treatment Market Growth is expected to witness high growth over the forecast period owing to rising prevalence of the disease in cattle population worldwide. 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.
Regionally, Europe dominates the market currently and is expected to continue its dominance during the forecast period. Countries including Germany, France, and Netherlands have reported high number of outbreaks and are major markets.
Key players operating in the market are Americold Logistics, Lineage Logistics, AGRO Merchants Group, Nichirei Corporation, Preferred Freezer Services, Swire Cold Storage, Kloosterboer. The key players are focused on expanding their production facilities and vaccine portfolios to cater to the increasing demand.
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 players are focused on research & development of new vaccines and drugs to expand their product offerings.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
