The
Canada breast cancer diagnostics market is expected to experience significant
growth over the forecast period. This can be attributed to the increasing
prevalence of breast cancer and advancements in imaging technology, such as 3-D
mammography, which are improving early detection and screening capabilities.
Additionally, there is a growing demand for various diagnostic tests, including
mammograms, breast magnetic resonance imaging, and biopsies, driven by the availability
of highly effective medications. The demand for advanced mammography devices is
also expected to contribute to the lucrative growth of the Canadian breast
cancer diagnostics market. However, the presence of key market players
expanding their operations in the country may limit market growth. For example,
in 2020, approximately 27,400 women in Canada were diagnosed with breast
cancer.
Increasing
Breast Cancer Incidences
The
increasing incidence of breast cancer in Canada has a significant impact on the
growth of the Canada Breast Cancer Diagnostics Market. The growing number of
breast cancer cases translates into a larger patient population requiring
treatment. This expanded patient base creates a higher demand for breast cancer
therapeutics, including surgery, radiation therapy, chemotherapy, targeted
therapies, and hormonal therapies. The rising incidence of breast cancer
contributes to the expansion of the market size and generates increased revenue
opportunities for pharmaceutical companies, healthcare providers, and other
stakeholders involved in breast cancer therapeutics. The market growth is
driven by the need to cater to the growing patient population and provide effective
treatment options. The increasing breast cancer incidence motivates greater
investments in research and development (R&D) efforts focused on
understanding the disease, discovering new treatment modalities, and improving
existing therapies. Pharmaceutical companies, academic institutions, and
government organizations allocate resources to develop innovative therapeutics
to meet the growing demand for effective treatments. The rise in breast cancer
incidence has led to a deeper understanding of the molecular and genetic basis
of the disease. This knowledge has facilitated the development of targeted
therapies that specifically act on cancer cells, reducing off-target effects
and improving treatment outcomes. The demand for targeted therapies increases
as the incidence of breast cancer rises, driving research and innovation in
this area. The increasing incidence of breast cancer necessitates the conduct
of more clinical trials to evaluate the safety and efficacy of novel
therapeutics. These trials generate valuable data that contribute to the
evidence base supporting the use of specific treatment options. The
availability of robust clinical trial data is crucial in gaining regulatory
approvals and facilitating the adoption of new therapeutics in clinical
practice.
Growing
Technological Advancements
Technological
advancements have a profound impact on the growth of the Canada Breast Cancer
Diagnostics Market. Technological advancements in breast imaging techniques,
such as digital mammography, magnetic resonance imaging (MRI), and molecular
breast imaging, have improved the accuracy and early detection of breast
cancer. These advanced imaging modalities enable healthcare professionals to
detect tumors at smaller sizes and at earlier stages, leading to more effective
treatment outcomes. Consequently, the demand for therapeutics targeting
early-stage breast cancer increases, driving market growth. Technological
advancements have facilitated the growth of precision medicine approaches in
breast cancer treatment. Genetic profiling and molecular testing techniques,
such as next-generation sequencing, allow healthcare providers to identify
specific genetic alterations and biomarkers associated with breast cancer. This
information enables the development of personalized treatment plans tailored to
individual patients, maximizing treatment efficacy while minimizing side
effects. The adoption of precision medicine strategies leads to the development
of targeted therapies and fuels market growth. Technological advancements have
facilitated the development of targeted therapies and immunotherapies in breast
cancer treatment. These therapies specifically target cancer cells or boost the
body's immune response against cancer. Advancements in molecular biology,
genomics, and immunology have paved the way for the identification of
therapeutic targets and the development of drugs that precisely target these
specific molecules or immune checkpoints. The availability of targeted
therapies and immunotherapies enhances treatment options, improves patient
outcomes, and contributes to market growth. Technological advancements in drug
delivery systems have improved the efficiency and effectiveness of breast
cancer therapeutics. Novel drug delivery methods, such as nanotechnology-based
systems, liposomal formulations, and targeted drug delivery vehicles, enable
the precise delivery of therapeutics to tumor sites, enhancing their efficacy
while reducing off-target effects. These advancements in drug delivery systems
offer new avenues for treatment and contribute to market growth. Technological
advancements in remote monitoring and telemedicine have gained prominence,
especially in the context of the COVID-19 pandemic. These technologies allow
healthcare providers to remotely monitor patients, provide virtual
consultations, and deliver supportive care services. Remote monitoring and
telemedicine enable timely interventions, reduce the burden on healthcare
systems, and improve patient access to care. The adoption of these technologies
in breast cancer care contributes to market growth and enhances patient
outcomes. In 2022, Abemaciclib (Verzenios) was approved by the National
Institute for Health and Care Excellence (NICE) to treat some people with
breast cancer that has a high-risk of returning. The new drug combination will
be available to adults with hormone receptor-positive, HER-2 negative, node
positive breast cancer, on the NHS in England.
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Research
and Development
Research
and development (R&D) play a pivotal role in driving the growth of the
Canada Breast Cancer Diagnostics Market. R&D efforts contribute to a deeper
understanding of the underlying biology of breast cancer. Research studies aim
to unravel the genetic, molecular, and cellular mechanisms involved in breast
cancer development, progression, and response to treatment. These insights help
identify novel therapeutic targets and pathways, leading to the development of
innovative treatment strategies and driving market growth. R&D activities
focus on the discovery and development of new therapeutics for breast cancer.
This includes the identification of potential drug candidates, preclinical
testing, and subsequent clinical trials to evaluate safety and efficacy.
Advances in drug development methodologies, such as high-throughput screening,
computational modeling, and drug repurposing, expedite the discovery process
and contribute to an expanding portfolio of treatment options. R&D efforts
have led to the development of targeted therapies and personalized medicine
approaches in breast cancer treatment. By understanding the genetic alterations
and molecular profiles of breast cancer subtypes, researchers can design
therapies that specifically target these molecular abnormalities. Targeted
therapies exhibit higher efficacy and improved patient outcomes. The
integration of personalized medicine in breast cancer diagnostics drives market
growth and enhances treatment options. R&D activities involve the conduct
of clinical trials to assess the safety and efficacy of new therapeutic
interventions. Clinical trials generate valuable data that support regulatory
approvals and provide evidence for the adoption of novel treatments. The availability
of robust clinical trial data is crucial in establishing the effectiveness of
therapeutics, influencing treatment guidelines, and driving market growth. R&D
in the field of breast cancer diagnostics relies on collaboration among
researchers, pharmaceutical companies, academic institutions, and healthcare
organizations. Collaborative efforts foster knowledge exchange, pooling of
resources, and expertise sharing. These collaborations accelerate the pace of
research, promote innovation, and contribute to the development of new
therapeutics. Public-private partnerships and academic-industry collaborations
play a crucial role in driving market growth. In 2023, January clinical
trials of Phase 1b/2, an Open-Label Umbrella Study to evaluate the safety and
efficacy of Elacestrant in Various Combination In Patients With Metastatic
Breast Cancer have started.
Growing
Demand for Personalized Medicine
The
growing demand for personalized medicine has a significant influence on the
growth of the Canada Breast Cancer Diagnostics Market. Recent developments in personalized
medicine aim to provide tailored treatment approaches based on an individual's
unique characteristics, including genetic makeup, tumor biology, and other
relevant factors. In the context of breast cancer, personalized medicine allows
healthcare providers to select treatment options that are more likely to be
effective for specific patient subgroups. This demand for personalized
treatment drives the development and availability of a wide range of targeted
therapies, biomarker-driven therapies, and other personalized medicine
interventions. Personalized medicine in breast cancer diagnostics enhances
treatment efficacy. By understanding the specific genetic alterations and
molecular signatures of a patient's tumor, healthcare providers can select
therapies that target these specific abnormalities. This approach improves
treatment response rates, reduces treatment resistance, and enhances overall
treatment outcomes. The demand for personalized medicine is fueled by the
desire for more effective treatments and improved patient outcomes. Personalized
medicine approaches in breast cancer treatment help minimize adverse effects by
tailoring therapies to individual patients. By considering a patient's genetic
profile, biomarker status, and other factors, healthcare providers can identify
treatments that are more likely to be well-tolerated and have fewer side
effects. This reduction in treatment-related adverse effects leads to improved
patient quality of life and satisfaction. Personalized medicine relies on the
identification of biomarkers associated with specific tumor characteristics or
treatment responses. The growing demand for personalized medicine has spurred
research efforts to identify relevant biomarkers in breast cancer. These
biomarkers can be used in the development of companion diagnostics, which aid
in the selection of appropriate therapies for individual patients. The
availability of companion diagnostics enhances treatment decision-making and
contributes to market growth. The increasing demand for personalized medicine
is closely tied to advancements in genomic sequencing technologies.
Next-generation sequencing and other genomic profiling techniques enable
comprehensive analysis of a patient's tumor, identifying genetic alterations,
mutations, and molecular subtypes. These advancements in genomic sequencing
technologies have expanded the scope of personalized medicine in breast cancer
treatment and have driven the development of targeted therapies and precision
medicine approaches.
Growing Collaboration
and Partnerships
Collaboration
and partnerships play a vital role in influencing the growth of the Canada Breast
Cancer Diagnostics Market. Collaboration among researchers, pharmaceutical
companies, academic institutions, and healthcare organizations fosters
knowledge sharing, resource pooling, and expertise exchange. These
collaborative efforts accelerate the pace of R&D activities, leading to
advancements in understanding breast cancer biology, the discovery of new
therapeutic targets, and the development of innovative treatment approaches.
Collaborative R&D initiatives drive innovation, fuel market growth, and
contribute to the expansion of treatment options. Collaborative partnerships
enable the sharing of resources, infrastructure, and expertise among different
stakeholders in the Canada Breast Cancer Diagnostics Market. Pharmaceutical
companies often collaborate with academic institutions and research
organizations to access specialized expertise, patient cohorts, and facilities
for conducting clinical trials and preclinical studies. Such collaborations
optimize resource utilization, enhance research capabilities, and expedite the
development and commercialization of new therapies. Collaboration among
multiple healthcare institutions and research centers enables the recruitment
of larger patient cohorts for clinical trials. Collaborative clinical trials
generate robust data sets that provide valuable insights into the safety and
efficacy of new therapies. Additionally, collaborations promote data sharing
among researchers and clinicians, leading to a more comprehensive understanding
of treatment outcomes, disease progression, and patient response. The
availability of shared clinical trial data supports evidence-based treatment
decisions and contributes to market growth. Collaborative partnerships
facilitate technology transfer and the commercialization of innovative
technologies and therapies. Academic-industry collaborations, for example,
allow academic institutions to transfer their research findings and
intellectual property to pharmaceutical companies for further development and
commercialization. These partnerships expedite the translation of scientific
discoveries into clinical applications, leading to the availability of novel
therapies in the market. Partnerships can be formed to ensure the availability
and affordability of therapies to a larger patient population. Collaborations
with healthcare systems, hospitals, and clinics help ensure the seamless
integration of new treatments into clinical practice and enhance patient access
to innovative therapies.
Government Initiatives
and Support
Government
initiatives and support play a crucial role in influencing the growth of the
Canada Breast Cancer Diagnostics Market. Governments provide significant
funding for breast cancer research and development, which fuels innovation in
therapeutics. Funding is often allocated to research institutions, academic centers,
and pharmaceutical companies to support studies focused on understanding breast
cancer biology, discovering new treatment targets, and developing novel
therapies. This financial support drives R&D activities, accelerates the
development of effective treatments, and contributes to the growth of the
market. Government regulatory bodies, such as Health Canada, play a critical
role in ensuring the safety and efficacy of breast cancer therapeutics. These
agencies provide support and guidance to pharmaceutical companies during the
drug development process, facilitating the regulatory approval of new
therapies. Government initiatives, such as expedited review processes and
fast-track designations, help streamline the approval process for promising
breast cancer drugs, allowing quicker access to innovative treatments for
patients and stimulating market growth. Governments invest in healthcare
infrastructure and support initiatives to improve access to breast cancer care.
This includes the establishment of comprehensive cancer centers, the expansion
of screening and diagnostic services, and the enhancement of treatment
facilities. Government support ensures that patients have timely access to
high-quality healthcare services, including the latest advancements in breast
cancer therapeutics. Improved infrastructure and access to care contribute to
market growth by increasing the demand for and utilization of breast cancer
treatments. Governments initiate public awareness and education campaigns to
promote breast cancer screening, early detection, and treatment options. These
campaigns aim to raise awareness about the importance of early diagnosis,
encourage regular screenings, and educate the public about available treatment
modalities. By promoting breast cancer awareness and education, governments
help in early detection, leading to timely interventions and improved treatment
outcomes. Increased awareness and education contribute to the growth of the
market as more individuals seek medical attention and engage in breast cancer
care.
Recent Development
- Enhertu
is an antibody-drug conjugate developed by AstraZeneca and Daiichi Sankyo.
It received approval from Health Canada in November 2020. Enhertu is
indicated for the treatment of HER2-positive, unresectable or metastatic
breast cancer in patients who have received prior treatment with
trastuzumab and a taxane. It combines the HER2-targeting properties of
trastuzumab with a cytotoxic payload to deliver a more potent treatment
option.
- Trodelvy
is an antibody-drug conjugate developed by Immunomedics that received
approval from Health Canada in December 2020. It is indicated for the
treatment of metastatic triple-negative breast cancer (mTNBC) in patients
who have received at least two prior therapies for metastatic disease.
Trodelvy combines an anti-Trop-2 antibody with a cytotoxic payload,
allowing targeted delivery of chemotherapy to cancer cells.
Market
Segmentation
The
Canada Breast Cancer Diagnostics Market can be segmented by type, product,
application, end use, region, and competitive landscape. In terms of type, the
market is segmented into imaging, biopsy, genomic tests, blood tests, and
others. The product segment comprises platform-based products and
instrument-based products. Applications of breast cancer diagnostics in Canada
include screening, diagnostic and predictive, prognostic, and research. The end
use sectors encompass hospitals & clinics, diagnostic centers and medical
laboratories, and others.
Market
Players
Philips
Canada Ltd, Danaher Corp, Hologic Inc, Becton Dickinson Canada Inc, Thermo
Fisher Scientific Inc, Genomic Health Inc, Argon Medical Devices Inc,
Hoffmann-La Roche Ltd are some of the leading players operating in the Canada Breast
Cancer Diagnostics Market.
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Attribute
|
Details
|
|
Base Year
|
2022
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|
Historic
Data
|
2018 – 2021
|
|
Estimated Year
|
2023
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Forecast
Period
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2024 – 2028
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|
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
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|
Segments Covered
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By Type
By Product
By Application
By End Use
By Region
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Regional
scope
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Ontario;
Quebec; Alberta; British Columbia; Saskatchewan and Manitoba; Rest of Canada
|
|
Key companies profiled
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Philips Canada Ltd, Danaher Corp,
Hologic Inc, Becton Dickinson Canada Inc, Thermo Fisher Scientific Inc,
Genomic Health Inc, Argon Medical Devices Inc, Hoffmann-La Roche Ltd
|
|
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 Breast Cancer Diagnostics Market has been segmented into
the following categories, in addition to the industry trends which have also
been detailed below:
- Canada Breast Cancer Diagnostics Market,
By Type:
o Imaging
o Biopsy
o Genomic Tests
o Blood Tests
o Others
- Canada Breast Cancer Diagnostics Market,
By Product:
o Platform-based Products
o Instrument-based Products
- Canada Breast Cancer Diagnostics Market,
By Application:
o Screening
o Diagnostic & Predictive
o Prognostic
o Research
- Canada Breast Cancer Diagnostics Market,
By End Use:
o Hospitals & Clinics
o Diagnostic Centers and Medical Laboratories
o Others
- Canada Breast Cancer Diagnostics Market,
By Region:
o Ontario
o Quebec
o Alberta
o British Columbia
o Saskatchewan & Manitoba
o Rest of Canada
Competitive
Landscape
Company
Profiles: Detailed
analysis of the major companies present in Canada Breast Cancer Diagnostics Market.
Available
Customizations:
With
the given market data, TechSci Research offers customizations according to a
company’s specific needs. The following customization options are available for
the report:
Company
Information
- Detailed analysis and profiling of
additional market players (up to five).
Canada Breast Cancer
Diagnostics Market is an upcoming report to be released soon. If you wish an
early delivery of this report or want to confirm the date of release, please
contact us at [email protected]