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Canada's clinical diagnostics is expected to witness significant growth from $3.9 Bn in 2022 to $4.9 Bn in 2030 with a CAGR of 3.1% for the year 2022-30.
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A sample report on Canada Clinical Diagnostics Market Analysis
This report presents a strategic analysis of the Canada Clinical Diagnostics Market and a forecast for its development in the medium and long term. It provides a comprehensive overview of the market value, dynamics, segmentation, main players, growth and demand drivers, challenges & future outlook, etc. This is one of the most comprehensive reports about the Canada Clinical Diagnostics Market, and offers unmatched value, accuracy, and expert insights.
Report Scope Click on the icon to know the detailed methodology
1.1 Statistics at a Glance: Status of Clinical Diagnostics in the World Prevalence of Clinical Diagnostics • Please be aware that this sample report is intended to provide you with a brief overview of the kind of information and analysis that will be presented in the final report • In this section you will get an understanding of the topic, which includes the prevalence of the disease, the application of medical devices, new technology, and other details related to the topic • In order to obtain access to all of the information that you are seeking, you will need to purchase the final report • Final report will be comprehensive and detailed, and it will include data, analysis, trends, and other relevant information related to the topic or subject matter of interest $76.2 Bn Was the market size of Global Clinical Diagnostics in 2022 8.56% Can be the exhibiting CAGR of the Clinical Diagnostics Market from 2022-2028 17-20% Is the expected increase in revenue of the diagnostic companies 55% Of the most downloaded clinically rated apps are linked to biosensors $7 Bn/year Is the amount saved using the health apps by monitoring and diagnosing health condition associated with diabetes prevention and care, asthma, and cardiac and pulmonary rehabilitation
1.1 Statistics at a Glance: The Status of Clinical Diagnostics in the World (continued) Europe ~Revenue to reach $xx Bn by 2027 Asia -Has the Fastest CAGR of xx % Canada Market ~$xx Mn North America ~ Market Size of $xx Bn Africa ~Market Size of $xx Bn Illustrative
1.2 Canada Overview • Please be aware that this sample report is intended to provide you with a brief overview of the kind of information and analysis that will be presented in the final report • In this section you will get an understanding of the demographics of the country/region, which includes the population, GDP, healthcare expenditure and other details related to the topic • In order to obtain access to all of the information that you are seeking, you will need to purchase the final report • Final report will be comprehensive and detailed, and it will include data, analysis, trends, and other relevant information related to the topic or subject matter of interest 38.45 Mn Is the population of Canada, in 2022 $1.99 Tn Is the Gross Domestic Product (GDP) in Canada in 2021 41 years Is the median age in Canada, in 2022 $8019 per capita was the amount of national health expenditures in 2021
1.3 Economic Overview: Canada Population of Canada, (2020-2030) GDP of Canada, (2020-2030) Population Split (2023) • In this section you will get an understanding of the demographics of the country/region, which includes the population, GDP, healthcare expenditure and other details related to the topic • In order to obtain access to all of the information that you are seeking, you will need to purchase the final report • Final report will be comprehensive and detailed, and it will include data, analysis, trends, and other relevant information related to the topic or subject matter of interest By Gender By Age Group 0-14 15-24 25-54 55-64 65+ Illustrative
1.4 Statistics at a Glance: Glance at Canada Clinical Diagnostics Market • Please be aware that this sample report is intended to provide you with a brief overview of the kind of information and analysis that will be presented in the final report • In this section you will get an understanding of the topic, which includes the prevalence of the disease, the application of medical devices, new technology, and other details related to the topic in Canada • In order to obtain access to all of the information that you are seeking, you will need to purchase the final report • Final report will be comprehensive and detailed, and it will include data, analysis, trends, and other relevant information related to the topic or subject matter of interest $3.9 Bn Was the market size of Canada Clinical Diagnostics Market in 2022 3.1% Is the expected CAGR of the Canada Clinical Diagnostics Market for period of 2022-2030 7,307 Is the number of medical and diagnostic laboratory companies are present in Canada 50 to 82 days Is the average waiting period for CT scans in Canada 90% Is the rate of approval for the in-vitro diagnostics test application submitted for getting the diagnostic test done in Canada
1.5 Healthcare Services in Canada • Canada Healthcare Services Market Forecast, 2022-2030 (in $Bn) • Please be aware that this sample report is intended to provide you with a brief overview of the kind of information and analysis that will be presented in the final report • In this section you will get an understanding of the overall Healthcare Services market in Canada, which includes the market size, current trends and other details related to the topic • In order to obtain access to all of the information that you are seeking, you will need to purchase the final report • Final report will be comprehensive and detailed, and it will include data, analysis, trends, and other relevant information related to the topic or subject matter of interest Illustrative
1.6 Healthcare Scenario in Canada • Clinical diagnostics Process: The process of developing a clinical diagnostics drug is complex and involves many stages, from preclinical research to clinical trials to regulatory approval. Here is a simplified diagram of the clinical diagnostics drug development process: • Preclinical Research: Researchers identify potential drug candidates and test them in the lab • Phase 1 Clinical Trials: Small studies are conducted to test the safety and dosage of the drug in humans • Phase 2 Clinical Trials: Larger studies are conducted to test the effectiveness of the drug in treating clinical diagnostics • Phase 3 Clinical Trials: Even larger studies are conducted to compare the new drug to standard treatments and evaluate its safety and effectiveness • Regulatory Approval: The drug is reviewed by regulatory agencies such as the FDA and approved for use in the US market FDA has developed several approaches to making drugs available as quickly as possible, while still ensuring their safety and effectiveness. Here are four of these approaches: Illustrative
1.6 Healthcare Scenario: Diagnostic Process Patient Journey Patient sees family doctor or specialist Results get sent to pathologist/ radiologist for review and analysis Physician sends patient for medical imaging Patient Laboratory Test/Imaging Test/Molecular Diagnostic Next StepBased on the radiologist's report, the referring physician decides on the next steps for patient Pathologist/Radiologist Report contains summary of findings, possible diagnoses, and recommended next steps Pathologist/Radiologist produces a report and sends it to referring physician Physician
1.7 Health Insurance Coverage: Canada Number of people with health insurance in Canada in 2020, by coverage type (in Mn) Number of People By Health Insurance Coverage (for illustrative purpose) • There are four main types of health insurance in Canada: • Public insurance • Private local insurance • International insurance • Travel insurance • Public insurance offers free healthcare. Eligibility and coverage differ among provinces. To be eligible for public insurance in Canada, you need to be physically present in Canada for over 183 days • Out of 37.5 Mn citizens, most are insured by the government, yet 25 Mn Canadians have opted for additional insurance • For public insurance, the cost of health insurance will be paid indirectly through your tax. On average, 10% of your income will go to public insurance • Local private insurance can cost around $100-$200 a month, while international insurance costs around $200-$300 a month Illustrative
1.8 Budget of Canada Government for Public Insurance • National Health Expenditures (NHE) grew 2.7% to $4.3 trillion in 2021, or $12,914 per person, and accounted for 18.3% of Gross Domestic Product (GDP) • Medicare spending grew 8.4% to $900.8 billion in 2021, or 21% of total NHE • Medicaid spending grew 9.2% to $734.0 billion in 2021, or 17% of total NHE • Private health insurance spending grew 5.8% to $1,211.4 billion in 2021, or 28% of total NHE • Out of pocket spending grew 10.4% to $433.2 billion in 2021, or 10% of total NHE • Other Third Party Payers and Programs and Public Health Activity spending declined 20.7% in 2021 to $596.6 billion, or 14% of total NHE • Hospital expenditures grew 4.4% to $1,323.9 billion in 2021, slower than the 6.2% growth in 2020 • Physician and clinical services expenditures grew 5.6% to $864.6 billion in 2021, slower growth than the 6.6% in 2020 • Prescription drug spending increased 7.8% to $378.0 billion in 2021, faster than the 3.7% growth in 2020 • Largest shares of total health spending were sponsored by the federal government (34%) and the households (27%). The private business share of health spending accounted for 17% of total health care spending, state and local governments accounted for 15%, and other private revenues accounted for 7% Illustrative
1.9 Mergers and Acquisitions RCM M&A Deal Value Trend ($Bn) RCM M&A Deal Volume Trend Buyer Composition: Strategic Vs Financial (2020) Buyer Type by Deal Size ($Mn) Strategic Buyers Financial Buyers $100+ $50-$100 $25-$50 $0- $25 57% of the total deal volume are done by strategic buyers and the rest 43% are done by financial buyers in 2020 Illustrative
1.9 Mergers and Acquisitions (continued) Latest Deals In Canada
1.9 Mergers and Acquisitions (continued) Latest Deals In Canada Illustrative
2.1 Market size and forecasts (Excel and Methodology) Click on the icon to know the methodology and assumption • Canada Clinical Diagnostics Market Forecast, 2022-2030(in $Bn) • Please be aware that this sample report is intended to provide you with a brief overview of the kind of information and analysis that will be presented in the final report • In this section you will get an understanding of the overall Healthcare Insurance market in Malaysia, which includes the market size, current trends and other details related to the topic • In order to obtain access to all of the information that you are seeking, you will need to purchase the final report • Final report will be comprehensive and detailed, and it will include data, analysis, trends, and other relevant information related to the topic or subject matter of interest CAGR~ XX% Illustrative
2.2 Snapshot of Clinical Diagnostics Market Segmentation By Test By Product By End-User Lipid Panel Instruments Hospital Laboratory Liver Panel Reagents Diagnostic Laboratory Renal Panel Others Point-of-care Testing Complete Blood Count Others Electrolyte Testing Infectious Disease Testing Others • In this section you will get an understanding of the segmentations which will cover the Canada Clinical Diagnostics Market • In order to obtain access to all of the information that you are seeking, you will need to purchase the final report
2.2.1 Market Segmentation: By Test Canada Clinical Diagnostics Market Share, By Test (2022) • Lipid Panel market in Canada is a significant component of the overall clinical diagnostics treatment market • It has the maximum market share in Canada clinical diagnostics market with approximately xx% • Please be aware that this sample report is intended to provide you with a brief overview of the kind of information and analysis that will be presented in the final report • In order to obtain access to all of the information that you are seeking, you will need to purchase the final report • Final report will be comprehensive and detailed, and it will include data, analysis, trends, and other relevant information related to the topic or subject matter of interest Illustrative
2.2.2 Market Segmentation: By Product Canada Clinical Diagnostics Market Share, By Product (2022) • Instruments clinical diagnostics market in Canada is a significant component of the overall clinical diagnostics market • It has the maximum market share in Canada clinical diagnostics market with approximately xx% • Please be aware that this sample report is intended to provide you with a brief overview of the kind of information and analysis that will be presented in the final report • In order to obtain access to all of the information that you are seeking, you will need to purchase the final report • Final report will be comprehensive and detailed, and it will include data, analysis, trends, and other relevant information related to the topic or subject matter of interest Illustrative
2.2.3 Market Segmentation: By End User Canada Clinical Diagnostics Market Share, By End User (2022) • Hospital Laboratories have the maximum market share in Canada clinical diagnostics market with approximately xx% • Please be aware that this sample report is intended to provide you with a brief overview of the kind of information and analysis that will be presented in the final report • In order to obtain access to all of the information that you are seeking, you will need to purchase the final report • Final report will be comprehensive and detailed, and it will include data, analysis, trends, and other relevant information related to the topic or subject matter of interest Illustrative
3.1 Laboratory Test Top most commonly ordered laboratory tests in Canada Community Inpatient Emergency The data presented here includes over 51 commonly ordered laboratory tests by percentage in Canada (Appendix 3)
3.2 Imaging Test • Imaging tests in Canada include: X-rays, CT (Computed Tomography) scans, MRI (Magnetic Resonance Imaging) scans Ultrasound, PET (Positron Emission Tomography) scans, Nuclear imaging & Mammogram • In 2022, it was estimated that 28,600 Canadian women will be diagnosed with breast cancer ultimately raising the demand for Mammography Imaging as well as services • In August 2022, through a collaboration with Synthesis Health, Pelican Narrows and two additional Peter Ballantyne Cree Nation (PBCN) towns, Deschambault Lake and Southend, the first ultra portable X-ray equipment was installed in Canada Number of diagnostics expected to be performed in Canada (in Mn)
3.3 Molecular Diagnostics Molecular diagnostic tests are laboratory tests that employ molecular biology techniques to detect particular genetic material (DNA or RNA) or protein or other molecule linked with a condition or disorder from the sample of tissue, blood, or other body fluids Molecular Diagnostic methods Molecular Diagnostics applications Oncology ( BRCA1, BRCA2, HER2, EGFR, KRAS) Polymerase chain reaction (PCR) Real-Time RT-PCR Infectious diseases (SARS-CoV-2,Flu A/B & RSV) Next-generation sequencing (NGS) Inherited genetic disorders (cystic fibrosis, sickle cell anaemia, down's syndrome and Huntington's disease) In-situ hybridization (ISH) Disease progression monitoring Fluorescence In-Situ Hybridization (FISH) Chromogenic in situ hybridization (CISH) Personalized medicine formulation Immunohistochemistry Reproductive Testing – Non-invasive Prenatal Tests (NIPT), IVF, New born screening Array-based comparative genomic hybridization
3.4 Point-Of-Care Testing POC Diagnostics Market Share By Indication Key Insights • Increased prevalence of diabetes and cancer, the use of novel point-of-care diagnostics, and the preference for at-home glucose testing all contribute to the expansion of the blood glucose monitoring market • 8.9% of the population of Canada, or more than 3 Mn people, have diabetes, and after accounting for population ageing over time, the prevalence has been rising at an average rate of 3.3% each year • Considerable risk of acquiring type 2 diabetes is also posed by the 6.1% prevalence of prediabetes in Canadian adults • On the other side, the category for infectious disorders is expected to develop at the quickest rate • Market segment for infectious diseases is anticipated to expand significantly over the forecast period due to the rising prevalence of various infectious disorders Other*- Hyperthyroidism, Oxygen Testing, assessment for developing contrast-induced nephropathy (CIN), Colorectal cancer screening, Dipstick urinalysis
3.4 Point-Of-Care Testing (continued) Community-based point-of-care testing policy (British Columbia) British Columbia Ministry of Health (the Ministry) regulates and influences the provision and utilization of POCT in particular medical/clinical domains through accreditation standards for diagnostic service providers and scope of practice regulations that specify which healthcare professionals are allowed to perform tests, interpret results, make diagnoses, and manage treatments. This is done to ensure the quality and safety of care in these settings Scope:
4.1 Market growth drivers 3.1.1 Increasing Prevalence of Health Morbidities like Cancer, Chronic & Infectious Diseases. 44% of adults have at least 1 of 10 common chronic conditions in Canada Incidence of Diseases in Canada • Incidence of diseases is increasing in Canada, with more than 1.8 Mn new clinical diagnostics cases expected to be diagnosed in 2023 • This is driving the demand for clinical diagnostics treatments and creating opportunities for growth in the clinical diagnostics market • Please be aware that this sample report is intended to provide you with a brief overview of the kind of information and analysis that will be presented in the final report • In order to obtain access to all of the information that you are seeking, you will need to purchase the final report • Final report will be comprehensive and detailed, and it will include data, analysis, trends, and other relevant information related to the topic or subject matter of interest xx% Illustrative
4.1 Market growth drivers (continued) 3.1.2 Growing awareness about early detection & screening of diseases. The Canadian Task Force on Preventative Health Care recommends mammogram screening for women over the age of 50 Top countries that are leveraging technology in their fight against clinical diagnostics • Canada has a long history of investing in clinical diagnostics research and treatment, and as a result, has become a world leader in the field • IT has a robust healthcare infrastructure, including world-renowned research institutions, hospitals, and clinics, that are dedicated to clinical diagnostics treatment and research • One of the key factors that has allowed Canada to stay ahead in the field of clinical diagnostics research and treatment is the high level of investment in clinical diagnostics-related research • In order to obtain access to all of the information that you are seeking, you will need to purchase the final report • Final report will be comprehensive and detailed, and it will include data, analysis, trends, and other relevant information related to the topic or subject matter of interest Illustrative
4.1 Market growth drivers (continued) 3.1.3 Government initiatives and investments in increasing number of equipment in diagnostic facility. Venture capital investment into health diagnostics companies peaked in 2020 with $4.8 Bn going into the sector. Since 2017, investors have infused nearly $20.3 Bn into this sector Fundings from government and other organizations • Canada government provides significant support and funding for clinical diagnostics research and treatment, which is driving innovation and growth in the clinical diagnostics market • Please be aware that this sample report is intended to provide you with a brief overview of the kind of information and analysis that will be presented in the final report • In order to obtain access to all of the information that you are seeking, you will need to purchase the final report • Final report will be comprehensive and detailed, and it will include data, analysis, trends, and other relevant information related to the topic or subject matter of interest Illustrative
4.2 Market restraints 3.2.3 Data Privacy Concerns. More than 400 hospitals in Canada and the US have been subject to ransomware attacks since the beginning of the pandemic 3.2.1 Delayed in Diagnosis. 61.6% of Canadians with a mood and/or anxiety disorder had their diagnosis more than a year after symptom onset 3.2.2 Shortage of Diagnosis Equipment. 35.5% of Canadian Medical Imaging equipment is 10 or more years old • There is a shortage of oncologists in Canada, which can limit access to clinical diagnostics treatments and create barriers to growth in the clinical diagnostics market • Oncologists are physicians who specialize in the diagnosis and treatment of clinical diagnostics • With the aging population and the increasing incidence of clinical diagnostics, there is a growing demand for oncologists • However, the supply of oncologists is not keeping pace with the demand • Clinical diagnostics treatments can be very expensive and can lead to financial burden for patients and healthcare systems • Cost of clinical diagnostics treatment varies depending on the type of clinical diagnostics, stage of clinical diagnostics, and treatment options • Some common clinical diagnostics treatments, such as chemotherapy and radiation therapy, can cost tens of thousands of dollars • Requirements for clinical diagnostics treatments can be very stringent, which can slow down the approval process and limit access to new treatments • Regulatory bodies, such as Canada Food and Drug Administration (FDA), require extensive clinical trials and safety data before approving new clinical diagnostics treatments • This can be a lengthy and costly process, which can delay the availability of new treatments for patients Our analysis will thoroughly investigate the key restraints that may significantly impact business operations and growth. Illustrative
5.1 Major Market Share Revenue of Major players in Canada clinical diagnostics Market ($ Mn) • Canada clinical diagnostics market is a highly competitive space, with many companies developing and marketing clinical diagnostics treatments • Some of the top companies in Canada clinical diagnostics market based on revenue and market share include • In order to obtain access to all of the information that you are seeking, you will need to purchase the final report • Final report will be comprehensive and detailed, and it will include data, analysis, trends, and other relevant information related to the topic or subject matter of interest Illustrative
5.2 Key Company Profile Key Note: 1 Dynacare • Here is the list of top 10 companies which will cover in the final report • Each company will have slides for • Overview • Key details • Offerings • Name of products • Recent activities/ Press Coverage • Distribution and Vendor Partners • Mergers, Acquisitions and Collaboration • Financials • If there are specific companies that you would like to be included in the report, please let us know via email • In order to obtain access to all of the information that you are seeking, you will need to purchase the final report 2 LifeLabs Medical Laboratory Services 3 SickKids 4 MIC Medical Imaging 5 Public Health Ontario 6 Biron 7 Akumin Inc 8 AlphaLabs 9 EFW Radiology 10 Spartan Bioscience:
5.2.1 Dynacare Founded in: 1959 HQ: Ontario, Canada Type: Private Revenue: $977.9 Mn Website: www.dynacare.ca • Dynacare provides a comprehensive variety of laboratory testing services • It includes regular and specialized tests in hematology, clinical chemistry, immunology, and genetics • It has over 165 patient care centers across Quebec, Ontario, Manitoba, Alberta and British Columbia in Canada • Company is owned by Lab Corp, an American company based out of Burlington, North Carolina Services Offered Recent Activity / Press Coverage
5.2.1 Dynacare (continued) Partnerships Ecosystem Major Partners Major Companies
5.2.1 Dynacare (continued) Important Deals - Mergers and Acquisitions
5.2.1 Dynacare (continued) Revenues ($Bn), 2020-2030 • $977.9 Mn was the revenue generated by Dynacare in 2022 • They are profitable in a wide range of laboratory testing services including routine and specialty tests in areas such as hematology, clinical chemistry, immunology, molecular diagnostics and genetics • Revenue generated by Dynacare in 2020 reflects the company's continued growth and success in the healthcare industry • In order to obtain access to all of the information that you are seeking, you will need to purchase the final report Breakdown of Net Revenue by Segment, 2022 Illustrative
5.2.2 Company 2 Founded in: HQ: Type: Revenue: Website: Drugs for clinical diagnostics Recent Activity / Press Coverage Illustrative
