Canada In-Vitro Diagnostics Market - Segmented by Technique, Product, Applications, End User - Growth, Trends and Forecasts (2018 - 2023)
The Canada In-Vitro Diagnostics Market is expected to witness a CAGR of 9.6%. Currently, North America dominates the global market, with the market yet to reach saturation.
Rapid Adoption of Advanced Diagnostics
The rapid adoption of the numerous number of innovative IVD methods such as digital PCR, mass spectrophotometry, chromosome analysis, tissue microarrays, next generation sequencing and cell signaling pathway testing are currently driving the growth of the market. In the next-generation sequencing based IVDs, several sequencing-based diagnostic tests and test services have been recently launched, including Althea Diagnostics’ BRAF mutations test, Sequenta’s LymphoSIGHT, and Enzo’s MultiGEN multiplex DNA sequencing.
The other factors also includes increasing incidences of chronic diseases, increasing government healthcare expenditure and consumer's healthcare spending
Opportunities Arising From Increasing Investment in the Sector
The common trend that is being observed here is that the leading players are acquiring the smaller technological companies to produce the companion diagnostic tests; while the pharmaceutical companies, attracted by the opportunities in the IVD market, both are investing and collaborating with diagnostic devices companies to extend their drugs market after major patent expirations. Roche Diagnostics and Abbott Laboratories are an example of the major companies in the market, which focus on achieving the synergy between their diagnostic solutions and pharmaceutical solutions.
The other factors also includes unfavorable reimbursement policies and stringent regulatory framework.
Canada is the gradually becoming the market leader in both the global and North American market. This is due to the advances on the technology forefront and the higher GDP of the nation. This growth is developing the need to analyze, review, and forecast the growth of the in vitro diagnostics market.
The market has been segmented by technique, product, applications and end users. The market segmentation by technique includes clinical chemistry, immunoassays, point of care diagnostics, hematology, molecular diagnostics, coagulation and microbiology.
Key Developments in the Market
September 2016: Thermo Fisher Scientific completed the acquisition of FEI Company.
August 2016: Thermo Fisher Scientific partnered with Hamilton Bonaduz AG to accelerate automation platforms access for forensic customers.
September, 2016: Roche announced the launch of its DISCOVERY 5-Plex procedure and reagents for immunohistochemistry (IHC) research applications. It is the first pre-optimized, fully automated multiplex procedure available on the VENTANA DISCOVERY ULTRA2 instrument.
Major Players- ABBOTT LABORATORIES INC., JOHNSON & JOHNSON, BECTON, DICKSON AND COMPANY, DANAHER CORPORATION, THERMO FISHER SCIENTIFIC, INC., BIO-RAD LABORATORIES, INC., ROCHE DIAGNOSTICS LIMITED AND SIEMENS HEALTHCARE, amongst others.
Reasons to Purchase this Report
Current and future Canada in vitro diagnostics market outlook in the developed and emerging markets
Analyzing various perspectives of the market with the help of Porter’s five forces analysis
The segment that is expected to dominate the market
Regions that are expected to witness fastest growth during the forecast period
Identify the latest developments, market shares and strategies employed by the major market players.
3 months analyst support along with the Market Estimate sheet (in Excel).
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