Canada Clinical Biomarkers Market to be dominated by safety biomarkers through 2028
The rising
prevalence of cancer is expected to drive the growth of the Canada clinical
biomarkers market during the forecast period, 2024-2028.
According to
TechSci Research report, “Canada Clinical Biomarkers Market - By
Region, Competition, Forecast and Opportunities, 2018-2028”, the Canada
clinical biomarkers market is anticipated to grow at an impressive rate during
the forecast period, 2024-2028. This can be ascribed to the growing
relevance of companies’ diagnostics along with rising global prevalence of
cancer across the region. Similarly, the growing demand for accurate result
compared to traditional diagnostic tools along with growing demand for advanced
data management technology and key imaging will further propel the growth of
the Canada clinical biomarkers market over the years. Additionally, growing
geriatric population and increasing incidences of diabetes and rising funds,
investments, and grants for research on clinical biomarkers will escalate the
growth of the Canada clinical biomarkers market in the coming years. Besides,
the launch of innovative products and growing awareness about new biomarkers
among healthcare providers will support the growth of the Canada clinical
biomarkers market during the forecast period.
However, the
high cost of research and development may limit the number of companies that
can enter the market, which can lead to a lack of competition and higher prices
for consumers. Similarly, the development and commercialization of clinical
biomarkers are subject to strict regulatory requirements, which may hamper the
growth of the Canada clinical biomarkers market during the forecast period.
Also, the reimbursement landscape for clinical biomarkers is complex and varies
depending on the type of biomarker and the indication that can further restrict
the growth of the Canada clinical biomarkers market.
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market data Figures spread through 70 Pages and an in-depth TOC on "Canada Clinical Biomarkers Market.”
The Canada
clinical biomarkers market can be segmented by product, services, technology,
clinical area, application, end user, and region.
Based on
product, the Canada clinical biomarkers market can be segmented into efficacy
biomarkers, safety biomarkers, and validation biomarkers. The safety biomarkers
segment dominated the Canada clinical biomarkers market in 2022 and is expected
to continue maintaining its dominance during the forecast period. This can be
ascribed to rise in the use of safety biomarkers in drug discovery &
development and an increase in the population that is at high risk of
developing various diseases, such as kidney disorders, cancer, and
cardiovascular conditions.
Based on
application, the Canada clinical biomarkers market can be segmented into
translational research v/s clinical diagnostics. The clinical diagnostics
segment is expected to dominate the Canada clinical biomarkers market during
the forecast period due to an increase in the demand for rapid & accurate
diagnostic tools, a rise in the global incidence of cancer, and an increase in
the demand for personalized medicines, coupled with growing collaborations
between pharmaceutical and diagnostic companies.
Major
companies operating in the Canada clinical biomarkers market are:
- Agilent
Technologies Canada
- Hoffmann-La
Roche Limited.
- QIAGEN NV
- PerkinElmer
Canada Inc
- Thermo Fisher
Scientific Inc.
- Bio-Rad
Laboratories Canada Ltd.
- Abbott Medical
Canada Inc.
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“Canada
clinical biomarkers market is expected to create a significant growth during
the forecast period due to the high disease burden along with growing consumer
awareness about biomarkers for development of new drugs. Similarly, growing
government initiatives for the development of new drugs is expected to drive
the growth of the Canada clinical biomarkers market during the forecast period.
Also, technological advancements in biomarkers development will further propel
the growth of the Canada clinical biomarkers market during the forecast period.
Furthermore, the presence of key players in the region and various organic and
inorganic developments undertaken by them is a major factor influencing the
growth of the Canada clinical biomarkers market over the years. Besides,
increasing geriatric population and investment expenditure in the healthcare
industry is expected to create a lucrative growth of the Canada clinical
biomarkers market during the forecast period,” said Mr. Karan Chechi, Research
Director with TechSci Research, a research-based global management consulting
firm.
“Canada
Clinical Biomarkers Market - Product (Efficacy Biomarkers, Safety Biomarkers,
Validation Biomarkers), By Services (Genomic Biomarker Service, Tissue
Biomarker Service, Cell Service, Proteomics Service),By Technology (Next
Generation Sequencing, Polymerase Chain Reaction, Immunohistochemistry,
Enzyme-Linked Immunosorbent Assay, Others), By Clinical Area (Cancer Biomarker,
Cardiac Biomarker, Neurological Biomarker, Infectious Disease Biomarker,
Others), By Application (Translational Research v/s Clinical Diagnostics), By
End User (Biotechnology & Pharmaceutical Companies, Diagnostic Centers,
Academic & Research Institutions, Others) and By Region and Competition”, has evaluated the future growth
potential of the Canada clinical biomarkers market and provides statistics
& information on market size, structure, and future market growth. The
report intends to provide cutting-edge market intelligence and help decision
makers take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in the Canada clinical biomarkers market.
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