It causes abortions, stillbirths and malformations in newborn animals. The disease is transmitted by biting midges (Culicoides species). The Schmallenberg virus treatment market comprises drugs and vaccines that are used to treat and prevent infections in animals. Rising concerns over livestock health and productivity losses due to Schmallenberg virus infections are the primary factors driving increased adoption of treatment products.
The global Schmallenberg Virus Treatment Market is estimated to be valued at US$ 110 Mn in 2024 and is expected to exhibit a CAGR of 5.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increasing prevalence of Schmallenberg virus infections is one of the major factors accelerating the growth of this market. As per estimates, around 60,000 cattle were infected with the virus in Europe in 2012 alone. Moreover, according to data by Centre for Agriculture and Bioscience International, Schmallenberg virus has been identified in around 24 European Union countries till date. As there is no authorized vaccine available for treatment in the EU, focus on development and approval of effective vaccines is expected to open new avenues for market players over the forecast period. In March 2022, European Medicines Agency accepted an application for a Schmallenberg virus vaccine manufactured by Ceva Animal Health. This is anticipated to boost the vaccine segment once approved.
Segment Analysis
The Global Schmallenberg virus treatment market size is dominated by antiviral therapy segment, owing to higher efficacy and quick recovery from the illness. Antiviral therapy involves the use of antiviral drugs such as ribavirin that fights against viral infection. It is highly effective in treating symptoms associated with Schmallenberg virus and help recover livestock quickly. This helps reduce financial losses for farmers.
Key Takeaways
The global Schmallenberg virus treatment market is expected to witness high growth at a CAGR of 5.4% during the forecast period of 2023-2030. The global Schmallenberg Virus Treatment Market is estimated to be valued at US$ 110 Mn in 2024 and is expected to exhibit a CAGR of 5.4% over the forecast period 2023 to 2030.
Regional analysis shows that Europe is currently the dominating as well as the fastest growing regional market. Countries like Germany, France, and Italy have reported the highest cases of Schmallenberg infections in recent years, driving the need for effective treatment options.
Key players operating in the Schmallenberg virus treatment market are ABB Ltd, Toshiba International Corporation, Hitachi Ltd, Emerson Electric Company, Robert Bosch GmbH, Panasonic Corporation, Omron Corporation, Honeywell International Inc., Siemens AG, Rockwell Automation, Schneider Electric SE, and Mitsubishi Electric Corporation. These companies are focused on developing new antiviral drugs with higher efficacy and new diagnostic tools for early detection of the virus. This is expected to further aid market growth in coming years.
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