Schmallenberg Virus Treatment Is Estimated To Witness High Growth Owing To Opportunity Of Development Of New Drugs And Vaccines

Schmallenberg Virus Treatment Market

Schmallenberg virus (SBV) is an orthobunyavirus that affects domestic and wild ruminants such as cattle, sheep and goats. The virus causes fever, diarrhea and decreased milk production in adult animals. In newborn animals, the virus can lead to arthrogryposis-hydranencephaly syndrome, which causes malformations of the limbs and heads. While there is currently no treatment for SBV infection, supportive treatment measures such as nutritional supplements can help address symptoms such as diarrhea and reduced milk production. Researchers are developing preventive drugs and vaccines to control the spread of the virus.

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 Opportunity:

The key opportunity for growth in the Schmallenberg virus treatment market lies in the development of new drugs and vaccines. Currently, there is no approved treatment or vaccine against SBV infection. Pharmaceutical companies and research institutes are actively working on candidate drugs and vaccines. Some of the promising vaccine candidates are in advanced stages of clinical trials. The approval and commercialization of effective vaccines against SBV infection will drive significant market revenues over the forecast period. This is expected to reduce spread of the virus in animal populations and boost demand for preventive treatment measures.

Porter's Analysis

Threat of new entrants: The Schmallenberg virus treatment market requires high R&D investment for development of new therapies. Stringent regulatory norms also act as a barrier for new companies.

Bargaining power of buyers: The availability of limited treatment options gives bargaining power to buyers in the form of competitive prices.

Bargaining power of suppliers: Major suppliers in this market are research institutes and pharma companies who have specialized expertise and technologies. This gives them strong bargaining power.

Threat of new substitutes: Currently, there are no effective substitutes for Schmallenberg virus treatment. However, ongoing R&D may lead to new alternative therapies.

Competitive rivalry: Large players dominate the market making it highly competitive. Pricing pressure and new product launches further intensify competition.

SWOT Analysis

Strength: Established distribution channels and supply chains of major players. Availability of sizable R&D budgets.

Weakness: Heavy dependence on few regional markets for growth. High costs associated with manufacturing and storage of therapies.

Opportunity: Untapped growth potential in emerging Asian and Latin American countries. Rising investments in livestock healthcare globally.

Threats: Threat from alternative treatment therapies. Stringent regulations can delay new product approvals.

Key Takeaways

The Global Schmallenberg Virus Treatment Market Growth is expected to witness high growth during the forecast period of 2023 to 2030. 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.

The rapidly growing livestock industry across Asia Pacific and Latin America will drive the demand for effective treatment and prevention of this viral disease amongst cattle. North America and Europe currently dominate the global market due to widespread prevalence of the virus in these regions and supportive government policies. However, Asia Pacific is emerging as the fastest growing regional market with China, India and other Southeast Asian countries expected to offer lucrative opportunities.

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 focusing on expanding their geographical footprints through strategic collaborations with regional distributors.

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