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HEALTHCARE & PHARMACEUTICAL

Nordic Veterinary Diagnostics Market Segmentation by Product (Consumables, Reagents & Kits, Instruments & Devices, and Software & Services); by Technology (Hematology Tests, Clinical Chemistry, Immunodiagnostics, Molecular Diagnostics, Diagnostic Imaging, and Others); by Animal Type (Livestock, and Companion Animals); by Disease Type (Infectious Diseases, Non-Infectious Diseases, and Others); and by End-Users – Demand Analysis & Opportunity Outlook 2020-2030

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Extensive insights into the Growth of Nordic Veterinary Diagnostics Market amidst COVID-19

Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.

Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.

We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.

In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months.                                                         Request Insights

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IN THE NEWS

  • June 30th, 2021: Bio-Rad Laboratories, Inc. announced that it has partnered with the global leader in multiplex molecular diagnostics, Seegene, Inc. The partnership is aimed at the development and commercialization of products for the molecular diagnosis of infectious diseases.

  • June 2nd, 2021: IDEXX Laboratories, Inc. announced that it has acquired the fast-growing innovative practice information management system (PIMS) software provider ezyVet. The acquisition would allow IDEXX to expand its cloud software offerings for veterinary practitioners as the software would enable vets to have more effective communication with the pet owners.

Nordic Veterinary Diagnostics Market Highlights Over 2020 - 2030

The Nordic veterinary diagnostics market is estimated to garner a revenue of USD 166.80 Million by the end of 2030, by growing with a CAGR of 7.42% over the forecast period, i.e., 2021 – 2030. Moreover, in the year 2020, the market in the region generated a revenue of USD 81.69 Million. The growth of the market can primarily be attributed to the rising concern for the increasing incidences of zoonotic diseases in the region, and therefore the need for the diagnosis of the disease in animals. Besides this, the rising advancement in veterinary healthcare, followed by the growing research and development for point-of-care diagnostic devices, such as nucleic acid non-PCR techniques, biosensors, fluorescence polarization technology, whole-genome sequencing (WGS), biomarkers, nanotechnology, and others in the veterinary diagnostics space are some of the key opportunities estimated to boost the market growth. Additionally, the rising use of wearables and the surge in use of diagnostic apps are also projected to contribute to the growth of the market in the coming years.

Nordic Veterinary Diagnostics Market GraphMoreover, rising adoption of pets in the Nordic countries, i.e., Denmark, Finland, Iceland, Norway, and Sweden, backed by the rising disposable income of the individuals, along with the surge in the number of animal population in these countries, are also expected to drive the market growth. According to the statistics by The European Pet Food Industry (FEDIAF), the total dog population in Denmark, Finland, Norway, and Sweden in the year 2020 was 607000, 755000, 480000, and 890000 numbers respectively. Moreover, cat population in these countries in the same year was 670000, 965000, 770000, and 1480000 numbers respectively. CLICK TO DOWNLOAD SAMPLE REPORT

Dog and Cat Population Graph

Nordic Veterinary Diagnostics Market Regional Synopsis

By country, the Nordic veterinary diagnostics market is segmented into Denmark, Finland, Iceland, Norway, and Sweden. Out of these, the market in Sweden is expected to generate the largest revenue of USD 58.55 Million by the end of 2030, up from a revenue of USD 27.77 Million in the year 2020. The market in the nation is also expected to grow with the highest CAGR of 7.76% during the forecast period. The growth of the market in the country can be attributed to the rising initiatives by the governmental organizations for animal and pet safety, along with the increasing pet ownership in the country. In the other statistics by the FEDIAF, the total number of households owning at least one cat and one dog was 16% and 16% respectively. The Swedish National Veterinary Institute (SVA) is the largest and only recognized veterinary medicine laboratory in the country, and is also a part of the Ministry of Agriculture. Each year, the institute publishes a report on the surveillance activities carried out in the country for zoonotic agents in humans, food, feed and animals, along with animal diseases.

Growth Drivers and Challenges Impacting the Growth of the Nordic Veterinary Diagnostics Market

Growth Drivers

  • Growing Number of Companion and Livestock Animal Population
  • Rising Incidence of Zoonotic Diseases

Challenges

  • High Cost of Pet Care
  • Lack of Availability of Skilled Veterinarians

Nordic Veterinary Diagnostics Market Segmentation Synopsis

The Nordic veterinary diagnostics market is segmented by product into consumables, reagents & kits, instruments & devices, and software & services. Out of these, the consumables, reagents & kits segment is expected to generate the largest revenue of USD 86.68 Million by the end of 2030, up from a revenue of USD 41.98 Million in the year 2020. Further, the market is segmented by technology into hematology tests, clinical chemistry, immunodiagnostics, molecular diagnostics, diagnostic imaging, and others. Out of these, the immunodiagnostics segment registered the largest revenue of USD 20.03 Million in the year 2020, and is further projected to touch USD 43.14 Million by the end of 2030. By animal type, the market is segmented into companion animals, and livestock animals. Out of these, the companion animals segment is expected to grow with the highest CAGR of 7.52% during the forecast period. Further, by disease type, the market is segmented into infectious diseases, non-infectious diseases, hereditary, congenital, and acquired diseases, general ailments, and structural & functional disease. Out of these, the non-infectious diseases segment is expected to generate the largest revenue of USD 55.17 Million by the end of 2030, and also grow with the highest CAGR of 7.95% during the forecast period. Moreover, the market is also segmented by end-user into laboratories, veterinary hospitals & clinics, point-of-care/in-house testing, and research institutes & universities. Out of these, the point-of-care/in-house testing segment is projected to grow with the highest CAGR of 8.23% during the forecast period.

Key Companies Dominating the Market

Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the Nordic veterinary diagnostics market that are included in our report are Zoetis Inc., IDEXX Laboratories, Inc., Thermo Fisher Scientific Inc., bioMérieux SA, LifeAssays Ab, Bio-Rad Laboratories, Inc., INDICAL BIOSCIENCE GmbH, Alertix Veterinary Diagnostics AB, Heska Corporation, scil animal care company GmbH, DiaSystem Scandinavia AB, Boule Diagnostics AB, Lifetest Vet Equipment ApS, and others.

Key Reasons to Buy Our Report

  • The report covers detailed analysis comprising market share attained by each market segment and its sub-segments.
  • It covers market dynamics including growth drivers, trends, potential opportunities, price trend analysis and challenges that impact the market growth.
  • The report includes detailed company profiles of the major players dominating the market.
  • We use effective research methodologies to calculate the market numbers and provide value-added assessment for overall growth.
  • We provide customized reports as per the clients’ requirement helping them to see possible and unexpected challenges and unforeseen opportunities in order to help them reach their goal.

FREQUENTLY ASKED QUESTIONS

  1. Market Definition
    1. Definition
    2. Market Segmentation
  2. Assumptions and Acronyms
  3. Research Methodology
    1. Research Process
    2. Primary Research
    3. Secondary Research
    4. Market Size Estimation
  4. Executive Summary – Nordic Veterinary Diagnostics Market
  5. Market Dynamics
    1. Market Drivers
    2. Market Trends
  6. Key Market Opportunities
  7. Major Roadblocks for the Market Growth
  8. Regulatory and Standards Landscape
  9. Industry Risk Analysis
  10. Impact of COVID-19 on the Nordic Veterinary Diagnostics Market
  11. Pricing Analysis
  12. Analysis on Disease Type
  13. Comparative Analysis
  14. Competitive Landscape
    1. Market Share Analysis, 2020
    2. Competitive Benchmarking
    3. Company Profiles
      1. Zoetis Inc.
      2. IDEXX Laboratories, Inc.
      3. Thermo Fisher Scientific Inc.
      4. bioMérieux SA
      5. LifeAssays Ab
      6. Bio-Rad Laboratories, Inc.
      7. INDICAL BIOSCIENCE GmbH
      8. Alertix Veterinary Diagnostics AB
      9. Heska Corporation
      10. scil animal care company GmbH
      11. DiaSystem Scandinavia AB
      12. Boule Diagnostics AB
      13. Lifetest Vet Equipment ApS
  15. Nordic Veterinary Diagnostics Market 2020-2030
    1. Market Overview
    2. By Value (USD Million)
  16. Nordic Veterinary Diagnostics Market – Segmentation Analysis 2020-2030
    1. Product
      1. Consumables, Reagents & Kits, 2020-2030F (USD Million)
      2. Instruments & Devices, 2020-2030F (USD Million)
      3. Software & Services, 2020-2030F (USD Million)
    2. Technology
      1. Hematology Tests, 2020-2030F (USD Million)
      2. Clinical Chemistry, 2020-2030F (USD Million)
      3. Immunodiagnostics, 2020-2030F (USD Million)
      4. Molecular Diagnostics, 2020-2030F (USD Million)
      5. Diagnostic Imaging, 2020-2030F (USD Million)
      6. Others, 2020-2030F (USD Million)
    3. Animal Type
      1. Companion Animals, 2020-2030F (USD Million)
        1. Dogs, 2020-2030F (USD Million)
        2. Cats, 2020-2030F (USD Million)
        3. Others, 2020-2030F (USD Million)
      2. Livestock Animals, 2020-2030F (USD Million)
        1. Cattle, 2020-2030F (USD Million)
        2. Swine, 2020-2030F (USD Million)
        3. Poultry, 2020-2030F (USD Million)
        4. Others, 2020-2030F (USD Million)
    4. Disease Type
      1. Infectious Diseases, 2020-2030F (USD Million)
      2. Non-Infectious Diseases, 2020-2030F (USD Million)
      3. Hereditary, Congenital, and Acquired Diseases, 2020-2030F (USD Million)
      4. General Ailments, 2020-2030F (USD Million)
      5. Structural and Functional Disease, 2020-2030F (USD Million)
    5. End-Users
      1. Laboratories, 2020-2030F (USD Million)
      2. Veterinary Hospitals and Clinics, 2020-2030F (USD Million)
      3. Point-of-Care/In-House Testing, 2020-2030F (USD Million)
      4. Research Institutes and Universities, 2020-2030F (USD Million)
    6. Country
      1. Norway
      2. Denmark
      3. Sweden
      4. Finland
      5. Iceland

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