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.
The
increasing technological advancements supporting the imaging of cancerous
cells, improved equipment for cancer type identification, and the increase in
result efficiency are likely to drive the Canada cancer diagnostics market
during the forecast period. The rise in government initiatives and other
private organizations to spread awareness regarding early diagnosis and
prevention of cancer is expected to create a lucrative growth prospect for the
Canada cancer diagnostics market during the forecast period. Similarly, growth
in the number of diagnostics laboratories in the country has significantly increased
the demand for devices during the forecast period. 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:
·
Canada
Cancer Diagnostics Market, By Product:
o
Consumables
o
Instruments
·
Canada
Cancer Diagnostics Market, By Technology:
o
IVD
Testing
o
Imaging
o
Biopsy
·
Canada
Cancer Diagnostics Market, By Application:
o
Breast
Cancer
o
Lung
Cancer
o
Colorectal
Cancer
o
Others
·
Canada
Cancer Diagnostics Market, By End User:
o
Hospitals
& Clinics
o
Diagnostic
Laboratories
o
Others
·
Canada
Cancer Diagnostics Market, By Region:
o
Ontario
Region
o
Quebec
Region
o
Alberta
Region
o
British
Columbia Region
o
Saskatchewan
and Manitoba Region
o
Rest
of Canada
Competitive
Landscape
Company
Profiles: Detailed
analysis of the major companies present Canada 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).
The Canada
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]