The Schmallenberg virus (SBV) is an orthobunyavirus that primarily infects ruminant animals. Symptoms of the virus can include diarrhea, reduced milk production, miscarriages and malformations. Due to increasing prevalence of the virus among livestock, research organizations and pharmaceutical companies are ramping up investments into development of effective antiviral drugs and vaccines to treat and prevent infections.
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:
Rising research and development investments
Increasing investments into research and development of effective treatment options has been a key trend bolstering growth of the Schmallenberg virus treatment market. Governments and private organizations are focusing on development of antiviral drugs that can help cure infections as well as vaccines to prevent outbreaks of the virus among cattle. For instance, the Institute for Animal Health in the UK received funding of US$ 2.5 Mn in 2021 for developing antiviral drugs targeting the virus. Such initiatives are serving to strengthen the product pipeline and drive market revenues over the forecast period.
Strength: The Schmallenberg virus treatment market has opportunities for growth due to increasing research funding for the development of novel drugs. The emergence of the virus in Europe has increased focus on effective treatment options.
Weakness: Limited approved treatment options currently exist for Schmallenberg virus infections. Most initiatives involve symptomatic relief with existing drugs. Development of specific drugs requires extensive research and clinical trials.
Opportunity: Rising incidence rates of Schmallenberg virus infections create a need for effective prevention and care protocols. Growing livestock industry and global trade in animals expands the target population base.
Threats: Entry of new viruses with similar symptoms poses challenges in disease diagnosis and management. Resource constraints can hamper research investments required for novel drug discovery. Stringent regulations prolong market approval timelines.
The Global Schmallenberg Virus Treatment Market Growth is expected to witness high growth over the forecast period supported by increasing research funding from governments and pharmaceutical companies. 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 Americas region currently dominates the market with largest research investments. However, the Asia Pacific region is expected to emerge as the fastest growing market due to the expansion of local livestock industries and growing meat consumption in countries like China and India.
Key players operating in the Schmallenberg virus treatment market include veterinary pharmaceutical companies focusing on developing effective antiviral drugs and vaccines. Currently, there are no FDA approved treatments specifically for Schmallenberg virus infections. Most treatments involve generic antivirals and vaccinations against related viruses. Leading pharmaceutical companies are conducting clinical trials evaluating efficacy of existing antivirals against Schmallenberg virus. Smaller biotech firms are collaborating with research institutes for novel drug candidate screening as well.
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it