Canada Cancer Diagnostics Market, By Product (Consumables, Instruments), Technology (IVD Testing, Imaging, and Biopsy), Application (Breast Cancer, Lung Cancer, Colorectal Cancer, and Others), End User (Hospitals & Clinics, Diagnostic Laboratories, and Others), By Region Competition Forecast and Opportunities, 2028
Published Date: November - 2024 | Publisher: MIR | No of Pages: 320 | Industry: Healthcare | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationCanada Cancer Diagnostics Market, By Product (Consumables, Instruments), Technology (IVD Testing, Imaging, and Biopsy), Application (Breast Cancer, Lung Cancer, Colorectal Cancer, and Others), End User (Hospitals & Clinics, Diagnostic Laboratories, and Others), By Region Competition Forecast and Opportunities, 2028
Canada cancer diagnostics market is anticipated to witness impressive growth during the forecast period, thanks to the growing number of private diagnostic centers. The rising prevalence of various types of cancer, such as breast cancer and lung cancer, is aiding the market substantially.
. According to the Canadian Cancer Society, in 2022, around 233,900 people in Canada were expected to be diagnosed with cancer, and 85,100 cancer-related deaths were anticipated.
Growing Incidence of Cancer
The rising incidence of cancer is one of the key drivers of growth in the Canadian cancer diagnostics market. As the population continues to age, the incidence of cancer is expected to increase, which will drive demand for cancer diagnostics. With the rising incidence of cancer, there is a growing demand for cancer screening, which is one of the most effective ways to detect cancer at an early stage. This is driving the growth of the market as more people are being screened for cancer. The rising incidence of cancer is increasing demand for diagnostic technologies such as imaging, molecular diagnostics, and genetic testing. This is driving innovation in the market as companies develop new and improved technologies to meet the growing demand. Early detection of cancer is critical for improving patient outcomes and survival rates. As a result, there is a growing emphasis on the importance of early detection, which is driving demand for cancer diagnostics. The Canadian government has implemented several initiatives aimed at improving cancer screening and early detection, such as funding for cancer research and improving access to cancer screening programs. This is driving the growth of the market by increasing awareness of the importance of cancer screening and early detection.
Advancements in Diagnostic Technology
Advancements in diagnostic technologies are a major driver of growth in the Canada cancer diagnostics market. As new and improved diagnostic technologies are developed, they are improving the accuracy of cancer diagnosis and increasing the chances of successful treatment. Advancements in diagnostic technologies, such as imaging, molecular diagnostics, and genetic testing, are improving the accuracy of cancer diagnosis. This enables healthcare providers to detect cancer at an earlier stage and develop more effective treatment plans.
Personalized medicine is an approach to cancer treatment that uses diagnostic testing to identify specific genetic mutations in a patient's cancer cells. This enables healthcare providers to develop personalized treatment plans that are tailored to the patient's individual needs. Advancements in diagnostic technologies are enabling personalized medicine to become more widespread, which is driving the growth of the market. As the accuracy of diagnostic tests improves, there is a growing demand for these tests from both healthcare providers and patients. This is driving the growth of the market as more diagnostic tests are being ordered and performed.
Advancements in diagnostic technologies are driving innovation and competition in the market as companies develop new and improved technologies to meet the growing demand. This is driving the growth of the market by spurring innovation and improving the quality of diagnostic tests.
Increasing Awareness About Cancer Screening
Increasing awareness about cancer screening is a major driver of growth in the Canadian cancer diagnostics market. As more people become aware of the importance of cancer screening, they are more likely to undergo screening and seek diagnostic testing if necessary. With increasing awareness about the importance of cancer screening, the demand for cancer screening services is also increasing substantially. This is driving the growth of the market as more people are being screened for cancer. Increased awareness about cancer screening is also improving access to screening programs. This is important for underserved populations, who may not have been aware of the availability of screening programs or the importance of cancer screening.
As more people are undergoing cancer screening, there is a growing demand for diagnostic tests to confirm or rule out cancer. This is driving the growth of the market as more diagnostic tests are being ordered and performed. The Government of Canada has implemented several initiatives aimed at increasing awareness about the importance of cancer screening, such as funding for public education campaigns and improving access to screening programs. This is driving the growth of the market by increasing awareness and improving access to screening programs. The increasing awareness about cancer screening is ultimately improving patient outcomes by enabling early detection and treatment of cancer. This is driving the growth of the market by increasing demand for cancer screening and diagnostic tests.
Growing Government Initiatives
Government initiatives play a significant role in driving the growth of the Canadian cancer diagnostics market. The government of Canada has implemented several initiatives aimed at improving cancer prevention, detection, and treatment, which are driving the growth of the market. The government provides significant funding for cancer research, which is driving innovation and technological advancements in the cancer diagnostics market. This funding is helping to improve the accuracy of diagnostic tests and develop new diagnostic technologies.
The Government of Canada has implemented several initiatives aimed at improving access to cancer screening programs. This is important for underserved populations who may not have had access to these programs before. Improved access to screening programs is driving the growth of the market by increasing demand for cancer screening and diagnostic tests. The government has implemented several public education campaigns aimed at increasing awareness about the importance of cancer prevention, detection, and treatment. These campaigns are helping to increase awareness about the importance of cancer screening and diagnostic testing, which is driving the growth of the market by increasing demand for these services.
The government has implemented regulations aimed at improving the quality of cancer diagnostics. These regulations help to ensure that diagnostic tests are accurate and reliable, which is important for patient safety. This is driving the growth of the market by improving the quality of diagnostic tests. The government has also established several public-private partnerships aimed at driving innovation in the cancer diagnostics market. These partnerships are helping to develop new diagnostic technologies and improve the accuracy of diagnostic tests.
Advancement of Healthcare Infrastructure
Healthcare infrastructure is a crucial factor in driving the growth of the Canadian cancer diagnostics market. The availability of healthcare facilities, such as hospitals and diagnostic centers, is a key factor driving the growth of the market. As the number of healthcare facilities increases, there is a growing demand for cancer screening and diagnostic testing, which is driving the growth of the market. The availability of skilled healthcare professionals, such as radiologists and pathologists, is also important for the growth of the market. Skilled professionals are required to interpret the results of diagnostic tests accurately, which is important for patient care. The availability of advanced diagnostic technologies, such as magnetic resonance imaging (MRI) and positron emission tomography (PET) scanners, is important for the growth of the market. Advanced technologies help to improve the accuracy of diagnostic tests, which is important for patient care. The availability of cancer treatments, such as chemotherapy and radiation therapy, is also important for the growth of the market. As more people undergo cancer screening and are diagnosed with cancer, there is a growing demand for cancer treatments, which is driving the growth of the market. Government funding for healthcare infrastructure is also important for the growth of the market. As the government invests in healthcare infrastructure, there is a growing demand for cancer screening and diagnostic testing, which is driving the growth of the market.
Partnerships and Collaborations with Different Companies
Partnerships and collaborations with different companies play a significant role in driving the growth of the Canadian cancer diagnostics market. Collaboration between companies allows sharing of technologies and expertise, which can lead to the development of new and innovative diagnostic tests. This is driving the market by improving the accuracy and reliability of diagnostic tests. Such alliances can provide companies with increased access to resources, such as funding and research facilities. This can lead to the development of new diagnostic technologies and the expansion of existing diagnostic tests.
With partnerships, companies aim at expansion of product portfolios, as companies work together to develop new diagnostic tests or improve existing ones. This can increase the availability of diagnostic tests and drive the market. Partnerships and collaborations can also increase market reach, as companies work together to expand their distribution networks and reach new customers. This can lead to increased demand for diagnostic tests and drive the growth of the market. Partnerships and collaborations can also lead to strategic alliances between companies, which can help to drive the growth of the market. Strategic alliances can involve joint ventures, licensing agreements, or other partnerships that allow companies to work together to develop and commercialize new diagnostic technologies.
Recent Developments
- FoundationOne Liquid CDx In August 2020, Foundation Medicine launched FoundationOne Liquid CDx, a liquid biopsy test that analyzes circulating tumor DNA in the blood to identify genetic mutations associated with cancer. The test guide treatment decisions for patients with solid tumors and is designed to be more convenient and less invasive than traditional tissue-based biopsies.
- Oncotype MAP In February 2021, Genomic Health launched Oncotype MAP, a genomic profiling test that analyzes tumor tissue to identify potential targets for personalized cancer treatment. The test can be used for patients with advanced or metastatic cancer and is designed to help oncologists select targeted therapies that are most likely to be effective for individual patients.
- Roche Cobas HPV In January 2019, Roche launched the Cobas HPV test, a molecular diagnostic test that detects the presence of high-risk human papillomavirus (HPV) DNA in cervical samples. The test screens women for cervical cancer and is designed to be more accurate than traditional cytology-based screening methods.
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Market Segmentation
The Canada cancer diagnostics market can be segmented by product, technology, application, end user, and region. Based on product, the market can be divided into consumables and instruments. Based on technology, the market can be segmented into IVD testing, imaging, and biopsy. Based on application, the market can be grouped into breast cancer, lung cancer, colorectal cancer, and others. Based on end user, the market can be differentiated into hospitals & clinics, diagnostic laboratories, and others.
Market Players
GE Healthcare Canada Inc, Becton Dickinson Canada Inc., Roche Diagnostics Corp, Abbott Medical Canada Inc, FUJIFILM Canada Inc., Hologic Inc., and Agilent Technologies Canada Inc. are some of the leading players operating in the Canada cancer diagnostics market.
| Attribute | Details |
| Base Year | 2022 |
| Historic Data | 2018 – 2021 |
| Estimated Year | 2023 |
| Forecast Period | 2024 – 2028 |
| Quantitative Units | Revenue in USD Million, and CAGR for 2018-2022 and 2023-2028 |
| Report Coverage | Revenue forecast, company share, competitive landscape, growth factors, and trends |
| Segments Covered | By Product By Technology By Application By End User By Region |
| Regional scope | Ontario region; Quebec region; Alberta region; British Columbia region; Saskatchewan and Manitoba region; Rest of Canada |
| Key companies profiled | GE Healthcare Canada Inc, Becton Dickinson Canada Inc., Roche Diagnostics Corp, Abbott Medical Canada Inc, FUJIFILM Canada Inc., Hologic Inc., Agilent Technologies Canada Inc. |
| Customization scope | 10% free report customization with purchase. Addition or alteration to country, regional & segment scope. |
| Pricing and purchase options | Avail customized purchase options to meet your exact research needs. Explore purchase options |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
Report Scope
In this report, the Canada cancer diagnostics market has been segmented into the following categories, in addition to the industry trends which have also been detailed below
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Competitive Landscape
Company Profiles
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Company Information
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