Canada clinical
biomarkers market is anticipated to witness impressive growth during the
forecast period. This can be ascribed to the increasing significance of
companion diagnostics along with the rising prevalence of cancer and increasing
investments in biomarker research and significant innovations for ongoing
research. Similarly, technological advancements in the development of
biomarker-based diagnostics are expected to drive the growth of the Canada
clinical biomarkers market during the forecast period. It was predicted
that, in 2021, there would be around 84,600 deaths due to cancer in Canada. According
to the latest figures, there is about a 26 percent chance that a male in Canada
will die from some type of cancer and a 22 percent chance for females.
Increasing
prevalence of chronic diseases
The increasing
prevalence of chronic diseases is one of the key factors driving the growth of
the Canada clinical biomarkers market. Chronic diseases, such as cancer,
diabetes, and cardiovascular diseases, are a major public health concern in
Canada, and they are responsible for a significant burden on the healthcare
system. Clinical biomarkers play a critical role in the early diagnosis,
monitoring, and treatment of chronic diseases. Biomarkers are measurable
indicators of disease, and they can help to identify individuals who are at
high risk of developing a disease or who have already developed a disease.
Biomarkers can also be used to monitor disease progression, predict treatment
response, and assess the efficacy of a therapy. The increasing prevalence of
chronic diseases is driving the demand for clinical biomarkers in Canada.
Biomarkers are becoming an essential tool for disease diagnosis and management,
and their adoption is expected to increase in the coming years. The use of
biomarkers can help to improve patient outcomes, reduce healthcare costs, and
increase the efficiency of the healthcare system. The growing demand for
personalized medicine is also contributing to the growth of the Canada clinical
biomarkers market. Personalized medicine involves the use of biomarkers to
identify patients who are likely to respond to specific therapies. Biomarkers
can help to predict treatment response, monitor treatment efficacy, and select
the most appropriate therapy for a patient. Personalized medicine is likely to
become more prevalent in the future, which is expected to drive the demand for
clinical biomarkers during the forecast period.
Growing
demand for personalized medicine
The growing
demand for personalized medicine is a significant driver of the Canada clinical
biomarkers market. Personalized medicine involves the use of biomarkers to
identify patients who are likely to respond to specific therapies, making the
treatment more effective and efficient. Biomarkers are measurable indicators of
disease or physiological processes, and they can help to predict treatment
response, monitor treatment efficacy, and select the most appropriate therapy
for a patient. The use of clinical biomarkers is critical to the success of
personalized medicine. Biomarkers can help to identify patients who are most
likely to respond to a specific therapy, reducing the need for trial and error
in the treatment selection process. Biomarkers can also help to monitor the
response to therapy, allowing clinicians to make adjustments as needed to optimize
treatment outcomes. The growing demand for personalized medicine is expected to
drive the adoption of clinical biomarkers in Canada during the forecast period.
The healthcare industry is shifting toward a more personalized approach to
treatment, and the use of biomarkers is expected to become increasingly
prevalent in the coming years. The development of new biomarkers and the
improvement of existing ones will be critical to the success of personalized
medicine, and the Canada clinical biomarkers market is poised to play a key
role in this shift. The adoption of clinical biomarkers in personalized
medicine has the potential to improve patient outcomes, reduce healthcare
costs, and increase the efficiency of the healthcare system. Clinical
biomarkers can help to identify patients who are most likely to respond to a
specific therapy, reducing the need for expensive and potentially ineffective
treatments. The use of biomarkers can also help to identify patients who are at
high risk of developing a disease, allowing for early intervention and improved
outcomes.
Technological
advancements
Technological
advancements are driving the growth of the Canada clinical biomarkers market.
Advances in technology have led to the development of new biomarkers, as well
as improvements in the sensitivity and specificity of existing biomarkers.
These technological advancements have expanded the range of biomarkers that can
be used for clinical diagnosis and treatment monitoring and have improved the
accuracy and reliability of biomarker-based tests. One key technological
advancement in the field of clinical biomarkers is the use of high-throughput
screening technologies. These technologies allow for the rapid and simultaneous
analysis of large numbers of biomarkers, enabling clinicians to identify
biomarker profiles that are indicative of specific diseases or conditions.
High-throughput screening technologies have greatly expanded the range of
biomarkers that can be used for clinical diagnosis and treatment monitoring and
have facilitated the development of personalized medicine approaches. Another
important technological advancement in the field of clinical biomarkers is the
development of multiplexed assay technologies. These technologies enable the
simultaneous analysis of multiple biomarkers in a single sample, providing a
more comprehensive profile of a patient's disease status. Multiplexed assay
technologies have improved the accuracy and efficiency of biomarker-based tests
and have facilitated the development of personalized medicine approaches. In
addition to these advancements in technology, the growing availability of big
data analytics tools and artificial intelligence (AI) is also driving the
growth of the Canada clinical biomarkers market. These tools enable the analysis
of large amounts of data to identify biomarker profiles and to develop
predictive models for disease diagnosis and treatment monitoring. The use of
big data analytics and AI is expected to revolutionize the field of clinical
biomarkers, enabling more accurate and efficient disease diagnosis and
treatment monitoring.
Increasing
healthcare expenditure
The increasing
healthcare expenditure is a significant driver for the growth of the Canada
clinical biomarkers market. Healthcare expenditure refers to the total amount
of money spent on healthcare services, including diagnosis, treatment, and
prevention of diseases. As healthcare expenditure increases, there is a
corresponding increase in the demand for advanced diagnostic tools and
personalized treatment options, which includes the use of clinical biomarkers.
Clinical biomarkers play an essential role in the diagnosis, treatment, and
monitoring of various diseases. They provide important information about a
patient's disease status, response to treatment, and potential side effects. As
the demand for advanced diagnostic tools and personalized treatment options
continues to increase, the use of clinical biomarkers is expected to grow in
parallel. The increasing healthcare expenditure is also driving the development
and adoption of new biomarkers, which is further contributing to the growth of
the Canada clinical biomarkers market. The development of new biomarkers
requires significant investment in research and development, which is often
funded through healthcare expenditure. With increased funding, researchers are
able to develop new biomarkers that can be used for early disease detection,
personalized treatment, and improved patient outcomes. Furthermore, the
increasing healthcare expenditure is leading to the adoption of advanced
healthcare technologies, including clinical biomarkers. Healthcare providers are
investing in new diagnostic tools and treatment options that are more
efficient, accurate, and cost-effective. Clinical biomarkers offer a highly
targeted and personalized approach to diagnosis and treatment, which aligns
with the goals of the healthcare industry to provide high-quality and
cost-effective care to patients.
Government
initiatives
Government
initiatives play a significant role in driving the growth of the Canada
clinical biomarkers market. The Canadian government has implemented several initiatives
to promote the development and use of clinical biomarkers in healthcare. One
such initiative is the Strategic Innovation Fund, which provides funding to
support research and development activities in a variety of sectors, including
healthcare. This funding can be used to support the development of new
biomarkers, as well as the validation and commercialization of existing
biomarkers. The Strategic Innovation Fund has helped to spur innovation in the
clinical biomarkers industry, leading to the development of new and improved
biomarkers that can be used for diagnosis and treatment monitoring. Another
government initiative that is driving the growth of the Canada clinical
biomarkers market is the Canadian Institutes of Health Research (CIHR). The CIHR
provides funding for research in various areas of health, including the
development of new biomarkers. This funding has helped to support the
development of new biomarkers that can be used for diagnosis and treatment
monitoring and has led to the advancement of personalized medicine approaches.
The Canadian government has also implemented regulations and guidelines to
ensure the safety and effectiveness of clinical biomarkers. For example, Health
Canada regulates the approval and use of medical devices, including biomarkers,
to ensure their safety and efficacy. These regulations and guidelines help to
promote the development of high-quality biomarkers that can be used safely and
effectively in healthcare. Furthermore, the Canadian government has implemented
initiatives to improve access to healthcare services, including the use of
clinical biomarkers. For example, the Canada Health Infoway initiative has been
implemented to promote the adoption of digital health technologies, including
the use of biomarkers, to improve healthcare delivery and patient outcomes.
Recent
Development
- VeriMARK: In 2021, Prostate Cancer
Canada and Exact Imaging launched VeriMARK, a clinical biomarker test that
helps to improve the accuracy of prostate cancer diagnosis. VeriMARK measures
levels of a protein called PSA, as well as other biomarkers, to help
doctors determine if a biopsy is necessary.
- ImmuSOB-R: In 2020, BioCanRx
launched ImmuSOB-R, a clinical biomarker test that helps to identify
patients with advanced cancer who are likely to respond to immunotherapy
treatments. ImmuSOB-R measures levels of immune system biomarkers in a
patient's blood to help doctors determine the best course of treatment.
- MyCarePath: In 2019, Thermo Fisher
Scientific launched MyCarePath, a clinical biomarker test that helps to
guide treatment decisions for patients with non-small cell lung cancer.
MyCarePath measures levels of biomarkers in a patient's tumor tissue to
help doctors determine which targeted therapies are most likely to be
effective.
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Market
Segmentation
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. Based on services, the Canada clinical
biomarkers market can be segmented into genomic biomarker service, tissue
biomarker service, cell service, and proteomics service. Based on technology,
the Canada clinical biomarkers market can be segmented into next generation
sequencing, polymerase chain reaction, immunohistochemistry, enzyme-linked
immunosorbent assay, and others. Based on clinical area, the Canada clinical
biomarkers market can be segmented into cancer biomarker, cardiac biomarker,
neurological biomarker, infectious disease biomarker, and others. Based on
application, the Canada clinical biomarkers market can be divided into
translational research v/s clinical diagnostics. Based on end user, the Canada
clinical biomarkers market can be segmented into biotechnology &
pharmaceutical companies, diagnostic centers, academic & research
institutions, and others.
Market
Players
Agilent
Technologies Canada, Hoffmann-La Roche Limited., QIAGEN NV, PerkinElmer Canada
Inc, Thermo Fisher Scientific Inc., Bio-Rad Laboratories Canada Ltd., and
Abbott Medical Canada Inc. are some of the leading players operating in the
Canada clinical biomarkers market.
Report
Scope:
In this report,
the Canada clinical biomarkers market has been segmented into the following
categories, in addition to the industry trends which have also been detailed
below:
·
Canada
Clinical Biomarkers Market, By Product:
o
Efficacy
Biomarkers
o
Safety
Biomarkers
o
Validation
Biomarkers
·
Canada
Clinical Biomarkers Market, By Services:
o
Genomic
Biomarker Service
o
Tissue
Biomarker Service
o
Cell
Service
o
Proteomics
Service
·
Canada
Clinical Biomarkers Market, By Technology:
o
Next
Generation Sequencing
o
Polymerase
Chain Reaction
o
Immunohistochemistry
o
Enzyme-Linked
Immunosorbent Assay
o
Others
·
Canada
Clinical Biomarkers Market, By Clinical Area:
o
Cancer
Biomarker
o
Cardiac
Biomarker
o
Neurological
Biomarker
o
Infectious
Disease Biomarker
o
Others
·
Canada
Clinical Biomarkers Market, By Application:
o
Translational
Research
o
Clinical
Diagnostics
·
Canada
Clinical Biomarkers Market, By End User:
o
Biotechnology
& Pharmaceutical Companies
o
Diagnostic
Centers
o
Academic
& Research Institutions
o
Others
·
Canada
Clinical Biomarkers 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 clinical biomarkers 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
Clinical Biomarkers 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]