Report ID: 10352407 |
Published Date: 21 Mar 2025 |
Report Format: |
Delivery Timeline: 48-72 Business Hours
NORDIC Veterinary Diagnostics Market Report Scope
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Base Year |
2021 |
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Forecast Year |
2022-2031 |
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CAGR |
~7% |
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Base Year Market Size (2021) |
~ USD 82 .0Million |
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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
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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.
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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.
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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.
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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
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High Cost for the Treatment of Pets
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Lack of Skilled Veterinary Doctors
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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:
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By Disease Type |
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By Technology |
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By End Users |
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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
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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.
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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
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The report covers detailed analysis comprising market share attained by each market segment and its sub-segments.
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It covers market dynamics including growth drivers, trends, potential opportunities, price trend analysis and challenges that impact the market growth.
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The report includes detailed company profiles of the major players dominating the market.
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We use effective research methodologies to calculate the market numbers and provide value-added assessment for overall growth.
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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 Question
The market is segmented by disease type, technology, and by end users.
The infectious diseases segment is anticipated to garner the largest market size by the end of 2031 and display significant growth opportunities.
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Report ID: 10352407 |
Published Date: 21 Mar 2025 |
Report Format: |
Delivery Timeline: 48-72 Business Hours
