Nordic Veterinary Diagnostics Market to Touch USD 166.80

New York, Feb. 15, 2022 (GLOBE NEWSWIRE) — According to the statistics by the European Pet Food Industry (FEDIAF), 38% or 88 Million households in the European Union owned at least one pet animal. Moreover, in Sweden, the total number of dog and cat population in the year 2020 was 890000 and 1480000 numbers respectively. On the other hand, the production of rainbow trout fish in the year 2017 in Denmark, Finland, Iceland, Norway, and Sweden, recorded was 43573 Tonne, 13580 Tonne, 4629 Tonne, 66999 Tonne, and 11361 Tonne respectively. Additionally, in Norway, the production of salmon in the same year was 1236354 Tonne, which increased to 1281872 Tonne in the year 2018.

Research Nester has recently added a report on “Nordic Veterinary Diagnostics Market: Demand Analysis & Opportunity Outlook 2020-2030”, which is studied for the forecast period, ie, 2021-2030. The report includes a detailed analysis of the key players operating in the market, and also focuses on the latest market developments. Further, a brief synopsis of the impact of COVID-19 is also included in this report.

The population of companion animals and other livestock animals in the Nordic countries is growing exponentially. Moreover, in recent years, with the increasing household disposable income of the individuals in these countries, which according to the statistics by the Organization for Economic Co-operation and Development (OECD), touched USD 41770/capita (gross adjusted) in Norway, USD 36716/capita in Denmark, USD 36269/capita in Finland, and USD 35359/capita in Sweden in the year 2020, the adoption of pets amongst the population has grown multi-fold. Backed by the rising concern for zoonotic diseases, there is a growing need amongst the owners of these pets as well as the owners of livestock animals, to diagnose and treat the infectious disease. According to the statistical report titled “The Norwegian Zoonoses Report 2019”, by the Norwegian Veterinary Institute, out of the 2108 numbers of broiler chicken flocks tested in Norway, 103 numbers of them were found to be positive for campylobacteriosis. Moreover, out of the 118 dogs tested in the country, 20 of them were found to be positive by the same infecting agent. Such a factor is estimated to drive the growth of the Nordic veterinary diagnostics market in the coming years. The Nordic veterinary diagnostics market, which registered a revenue of USD 81.69 Million in the year 2020, is further expected to touch USD 166.80 Million by the end of 2030, by growing with a CAGR of 7.42% during the forecast period. Moreover, the market is expected to witness a YoY growth rate of 7.60% in the year 2030 from its previous year.

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The Nordic veterinary diagnostics market is segmented on the basis of country into Denmark, Finland, Iceland, Norway, and Sweden. Amongst the market in these countries, the market in Sweden generated the largest revenue of USD 27.77 Million in the year 2020 and is further estimated to touch USD 58.55 Million by the end of 2030. The market in the country is also projected to grow with the highest CAGR of 7.76% during the forecast period. On the other hand, the market in Denmark is projected to hold the second-largest revenue of USD 35.70 Million by the end of 2030, up from a revenue of USD 17.97 Million in the year 2020.

The Nordic veterinary diagnostics market is segmented on the basis of technology into hematology tests, clinical chemistry, immunodiagnostics, molecular diagnostics, diagnostic imaging, and others. Amongst all these segments, the immunodiagnostics segment is expected to generate the largest revenue of USD 43.14 Million by the end of 2030 by growing with the highest CAGR of 8.00% during the forecast period. Additionally, in the year 2020, the segment generated a value of USD 20.03 Million. In Sweden, the segment garnered the the largest of USD 6.83 Million in the year 2020 and is further expected to grow with the highest CAGR of 8.36% during the forecast period to touch USD 15.22 Million in the year 2030. On the other hand, in Denmark, the segment is expected to grow with the highest CAGR of 7.76% during the forecast period and further attaining revenue of USD 9.28 Million by the end of 2030.

“The Final Report will cover the impact analysis of COVID-19 on this industry.”

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The Nordic veterinary diagnostics market is further segmented by disease type into infectious diseases, non-infectious diseases, hereditary, congenital, and acquired diseases, general ailments, and structural & functional disease. Amongst all these segments, the non-infectious disease segment is projected to grow with the highest CAGR of 7.95% during the forecast period, and further attaining the largest revenue of USD 55.17 Million by the end of 2030, up from USD 25.73 Million in the year 2020. In Sweden, the non-infectious diseases segment is projected to attain the largest revenue of USD 19.26 Million by the end of 2030, and further grow with the highest CAGR of 8.20% during the forecast period, while in Finland, the segment registered the largest revenue of USD 5.36 Million in the year 2020, and is further expected to touch USD 11.46 Million by the end of 2030.

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The Nordic veterinary diagnostics market is also segmented on the basis of product, animal type, and by end-users.

Nordic Veterinary Diagnostics Market, Segmentation by Product

  • Consumables, Reagents & Kits
  • Instruments & Devices
  • Software & Services

Nordic Veterinary Diagnostics Market, Segmentation by Animal Type

  • Companion Animals
  • Livestock Animals

Nordic Veterinary Diagnostics Market, Segmentation by End-Users

  • Laboratories
  • Veterinary Hospitals & Clinics
  • Point-of-Care/In-House Testing
  • Research Institutes & Universities

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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.

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