Nordic Veterinary Diagnostics Market Analysis 2020-2030
Veterinary diagnostic refers to the monitoring of disease progression and screening of underlying diseases in animals. The Nordic veterinary diagnostics market is anticipated to grow with a CAGR of 7.42% over the forecast period, i.e., 2021 – 2030. Factors such as the rising incidences of zoonotic diseases, surge in the availability of companion animals in the Nordic countries, and the rapid advancements in veterinary healthcare are estimated to boost the market growth. Moreover, factors such as the rising adoption of pets and the increasing utilization 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. The Nordic veterinary diagnostics market is estimated to garner a revenue of about USD 170 Million by the end of 2030, up from a revenue of around USD 80 Million in the year 2020.
The Nordic veterinary diagnostics market is segmented by numerous segments, which include segmentation by product, technology, animal type, disease type, end-users, and by country. On the basis of product, the market is segmented into consumables, reagents & kits, instruments & devices, and software & services. Amongst these, the consumables, reagents & kits segment generated the largest revenue of close to USD 40 Million in the year 2020, and is further expected to cross USD 80 Million by the end of 2030.
By country, the Nordic veterinary diagnostics market is segmented into Denmark, Finland, Iceland, Norway, and Sweden. In the year 2020, the market in Sweden generated the largest revenue of about USD 30 Million, and is further expected to generate the largest revenue of around USD 60 Million by the end of 2030. Moreover, the market in the country is anticipated to grow with the highest CAGR of 8% approximately during the forecast period.
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.