NORDIC Veterinary Diagnostics Market Analysis by Disease Type (Non-Infectious, Infectious Diseases and Others); by Technology (Diagnostic Imaging, Immunodiagnostics, Clinical Chemistry, Hematology Test, and Others); and by End Users (Clinical Laboratories, Hospitals, Research Institutes, and Others)-Supply & Demand Analysis & Opportunity Outlook 2022-2031

  • Product Code:
    RP-ID-10352407
  • Published Date:
    20 Sep 2022
  • Region:
    Global
  • Category:
    Healthcare & Pharmaceuticals
  • Publisher:
    Pub-ID-54

Impact Analysis on the Growth of Market

Inflation and Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.

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The Research Report is Updated with 2021 Base Year, 2022 Estimated year and Forecast till 2031 with Market Insights.


With the dip in global production, the GDP has contracted in 2020 and impacted the market across the world. Upon placing a Sample Request, you will receive an updated report with 2021 as base year, 2022 as estimated year and forecast to 2031. This will have market drivers, recovery rate in the market, insights and competitive analysis.



Market Overview:

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NORDIC Veterinary Diagnostics Market Report Scope

 

Base Year

2021

Forecast Year

2022-2031

CAGR

~7%

Base Year Market Size (2021)

 ~ USD 82 .0Million

Forecast Year Market Size (2031)

~ USD 167.0 Million

NORDIC Veterinary Diagnostics Market Size, Forecast, and Trend Highlights Over 2022 - 2031

The NORDIC veterinary diagnostics market is estimated to garner a revenue of ~USD 167 million by the end of 2031 by growing at a CAGR of ~7% over the forecast period, i.e., 2022 – 2031. Further, the market generated a revenue of ~USD 82 million in the year 2021. The growth of the market can be attributed to the rising cat and dog population. For instance, as per the European Pet Food Industry, nearly 38 per cent of the households representing 88 million owned at least one pet animal.

 

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NORDIC veterinary diagnostics market are non-invasive methods for examining symptoms and identifying specific diseases in animals.  The market is divided on the basis of end users, such as clinical laboratories, hospitals, research institutes, and others.  Moreover, people across the region are opting for veterinary careers in order to treat the illnesses of the animals through proper diagnostics and treatment. Therefore, the surge in the number of veterinarians is projected to increase the growth of the NORDIC veterinary diagnostics market. As per the Federation of Veterinarians of Europe, the number of veterinarians in Sweden, Norway, and Finland accounting to 3,326, 3,000, and 2,500 respectively.

NORDIC Veterinary Diagnostics Market: Growth Drivers and Challenges

Growth Drivers

  • High Prevalence of Campylobacteriosis Diseases – Several diseases are outbreaking in animals that is anticipated to surge the growth of the NORDIC veterinary diagnostics market. As per the data provided by the Norwegian Zoonoses Report 2019, out of 118 dogs in Norway diagnostics, 20 were found positive with campylobacteriosis diseases in Norway.

  • Increasing Household Disposable Income-As per the data provided by the Organization for Economic Co-operation and development, the household disposable income has reached USD 36269 per capita in Finland in the year 2020.

  • Growth of Animal Health Sector- Many facilities are being provided related to the pets in the region that is expected to drive the growth of the NORDIC veterinary diagnostics market. More than one million dogs are being insured by their owners in Sweden.

  • Rising Demand for Healthy Meats- There has been a rise in the demand for healthy meats, as people in the region are eating in regular diets. Hence, it is expected to drive the growth of the NORDIC veterinary diagnostics market.  In the year 2019, the total meat consumption in Norway was more than 55 kg per person.

Challenges

  • High Cost for the Treatment of Pets

  • Lack of Skilled Veterinary Doctors

  • Need for More Research and Development for the Pets Treatment

The NORDIC veterinary diagnostics market is segmented and analyzed for demand and supply by disease type into non-infectious, infectious diseases, and others. Out of these, the infectious diseases segment is anticipated to hold the largest share over the forecast period owing to the rise in the zoonoses diseases among animals. According to the Norwegian Zoonoses Report 2019, the number of positive zoonoses cases was 103 out of 2108 number tested of broiler chicken flocks in Norway.

Market Segmentation

Our in-depth analysis of the NORDIC veterinary diagnostics market includes the following segments:

By Disease Type

  • Infectious Diseases

  • Non-Infectious Diseases

  • Others

By Technology

  • Diagnostic Imaging

  • Immunodiagnostics

  • Clinical Chemistry

  • Hematology Test

  • Others

By End Users

  • Clinical Laboratories

  • Hospitals

  • Research Institutes

  • Others

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Key Companies Dominating the NORDIC Veterinary Diagnostics 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 Thermo Fisher Scientific Inc., Bio-Rad Laboratories, Inc., Heska Corporation, Boule Diagnostics AB, IDEXX Laboratories, Inc., Zoetis Inc, bioMérieux, INDICAL BIOSCIENCE GmbH, Scil animal care company GmbH, DiaSystem Scandinavia AB, and others.

NORDIC Veterinary Diagnostics Market: Latest Developments

  • June, 2021: Bio-Rad Laboratories Inc., announced it partnership with Seegene, Inc., for the clinical development and commercialization related to infectious disease molecular diagnostic products.

  • August, 2020: Boule Diagnostics AB announced the partnership with its OEM clients’ for providing products and services for the hematology platform.

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.


Geography Analysis:


The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:

  • North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys  & Opportunity Outlook
  • Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
  • Middle East and Africa  (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook

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  1. Thermo Fisher Scientific Inc.
  2. Bio-Rad Laboratories Inc.
  3. Heska Corporation
  4. Boule Diagnostics AB
  5. IDEXX Laboratories, Inc.
  6. Zoetis Inc
  7. bioMérieux
  8. INDICAL BIOSCIENCE GmbH
  9. Scil animal care company GmbH
  10. DiaSystem Scandinavia AB
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