The Schmallenberg virus causes fever, decreased milk production, and reproductive issues in cattle. Effective treatments can help alleviate symptoms and support recovery.
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 key trends:
Growing cattle population and rising infections are expected to drive the Schmallenberg Virus Treatment Market over the forecast period. According to estimates, there are around 1.4 billion cattle globally, the majority concentrated in Asia. Higher cattle densities increase transmission risks of the virus. While widespread vaccination programs have curbed outbreaks in Europe since 2012, warmer temperatures extend the active transmission window. Developing regions like Africa and South America also face infection threats due to inadequate monitoring. Rising demand for effective vaccines and therapeutics, especially in high risk developing regions, will boost the Schmallenberg Virus Treatment Market in the coming years.
Segment Analysis
The global Schmallenberg virus treatment market is segmented based on type, application, end user and geography. Based on type, the market is classified into vaccine, antiviral, analgesic and others. Among these, the vaccine segment dominates the market and is expected to continue its dominance over the forecast period. This is attributed to effective results shown by the vaccines for preventing schmallenberg virus infection in cattle.
The global schmallenberg virus treatment market, by application, is categorized into cattle, sheep & goat and others. The cattle segment holds maximum share in the market owing to the high prevalence rate of schmallenberg virus infection in cattle. Based on end user, the market is divided into veterinary hospitals, veterinary clinics and others. Veterinary hospitals hold a significant share as these are the primary points of contact between veterinarians and animals.
Key Takeaways
The Global Schmallenberg Virus Treatment Market Growth is expected to witness high growth over the forecast period of 2023-2030. 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.
Regional analysis shows that Europe dominates the global market and is expected to continue its dominance. This is attributed to several outbreaks of Schmallenberg virus reported in European countries like Germany, France and Belgium. The livestock industry in these countries forms a major share of their agriculture, which drives the demand for Schmallenberg virus treatment.
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. The key players are increasingly focusing on expanding their presence and offer better services across various regions to strengthen their market position. For instance, Americold Logistics acquired Agro Merchants Group, a major cold storage provider in Europe in 2022, to enhance its operations in the region.
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