Canada Oncology Companion Diagnostic Market Size & Outlook
- Clinical Diagnostics
- In Vitro Diagnostics
- oncology companion diagnostics market
- In Vitro Diagnostics
Global Market
Related Markets
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Canada oncology companion diagnostic market highlights
- The Canada oncology companion diagnostic market generated a revenue of USD 237.2 million in 2023 and is expected to reach USD 394.8 million by 2030.
- The Canada market is expected to grow at a CAGR of 7.5% from 2024 to 2030.
- In terms of segment, product was the largest revenue generating product & service in 2023.
- Service is the most lucrative product & service segment registering the fastest growth during the forecast period.
Oncology companion diagnostic market data book summary
| Market revenue in 2023 | USD 237.2 million |
| Market revenue in 2030 | USD 394.8 million |
| Growth rate | 7.5% (CAGR from 2024 to 2030) |
| Largest segment | Product |
| Fastest growing segment | Service |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Product, Service |
| Key market players worldwide | Agilent Technologies Inc, Illumina Inc, Qiagen NV, Thermo Fisher Scientific Inc, ARUP Laboratories, Abbott Laboratories, Myriad Genetics Inc, BioMerieux SA, Roche Holding AG ADR |
Other key industry trends
- In terms of revenue, Canada accounted for 5.0% of the global oncology companion diagnostic market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In North America, U.S. oncology companion diagnostic market is projected to lead the regional market in terms of revenue in 2030.
- Canada is the fastest growing regional market in North America and is projected to reach USD 394.8 million by 2030.
The rise in targeted therapy development and clinical implementation over recent decades are driving the growth of Companion Diagnostics (CDx). These diagnostics guide drug selection and dosing to enhance efficacy and safety. This precision medicine approach can potentially improve patient outcomes and alleviate the burden on the healthcare system.
In 2021, a study conducted by the Canadian Cancer Survivor Network was part of an awareness campaign highlighting the status of CDx in Canada. Clinical studies and data from registries have demonstrated significant variability in patient responses to the same drug therapy, with up to 75% of cancer patients not responding favorably to the same prescribed treatment.
Companion diagnostic tests offer crucial information for the safe and effective use of corresponding drugs or biological products. These tests can prevent unnecessary treatment-related toxicities and disease progression by identifying patients who do not match the molecular or genetic criteria for a specific therapy.
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Publish Date: Jan 17, 2025
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Oncology Companion Diagnostics Market
Oncology Companion Diagnostics Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| Roche Holding AG ADR | View profile | 103,605 | Grenzacherstrasse 124, Basel, Switzerland, 4070 | www.roche.com |
| Abbott Laboratories | View profile | 114,000 | 100 Abbott Park Road, Abbott Park, IL, United States, 60064-6400 | www.abbottinvestor.com |
| BioMerieux SA | View profile | 13,982 | Marcy l’Etoile, Lyon, France, 69280 | www.biomerieux.com |
| Thermo Fisher Scientific Inc | View profile | 122,000 | 168 Third Avenue, Waltham, MA, United States, 02451 | www.thermofisher.com |
| Illumina Inc | View profile | 9,300 | 5200 Illumina Way, San Diego, CA, United States, 92122 | www.illumina.com |
| Agilent Technologies Inc | View profile | 17,700 | 5301 Stevens Creek Boulevard, Santa Clara, CA, United States, 95051 | www.agilent.com |
| Qiagen NV | View profile | 5,900 | Hulsterweg 82, Venlo, LI, Netherlands, 5912 PL | www.qiagen.com |
| Myriad Genetics Inc | View profile | 2,700 | 320 Wakara Way, Salt Lake City, UT, United States, 84108 | www.myriad.com |
| ARUP Laboratories | View profile | 1001-5000 | Salt Lake City, Utah, United States, North America | www.aruplab.com |
Canada oncology companion diagnostics market
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to Oncology Companion Diagnostic Market Outlook will help companies and investors design strategic landscapes.
Product was the largest segment with a revenue share of 65.81% in 2023.
Horizon Databook has segmented the Canada oncology companion diagnostic market based on product, service covering the revenue growth of each sub-segment from 2018 to 2030.
The rise in targeted therapy development and clinical implementation over recent decades are driving the growth of Companion Diagnostics (CDx). These diagnostics guide drug selection and dosing to enhance efficacy and safety. This precision medicine approach can potentially improve patient outcomes and alleviate the burden on the healthcare system.
In 2021, a study conducted by the Canadian Cancer Survivor Network was part of an awareness campaign highlighting the status of CDx in Canada. Clinical studies and data from registries have demonstrated significant variability in patient responses to the same drug therapy, with up to 75% of cancer patients not responding favorably to the same prescribed treatment.
Companion diagnostic tests offer crucial information for the safe and effective use of corresponding drugs or biological products. These tests can prevent unnecessary treatment-related toxicities and disease progression by identifying patients who do not match the molecular or genetic criteria for a specific therapy.
- Canada Oncology Companion Diagnostic Market Product & Service Outlook (Revenue, USD Million , 2018-2030)
- Product
- Service
- Canada Oncology Companion Diagnostic Market End Use Outlook (Revenue, USD Million , 2018-2030)
- Hospital
- Pathology/Diagnostic laboratory
- Academic medical center
- Canada Oncology Companion Diagnostic Market Disease Type Outlook (Revenue, USD Million , 2018-2030)
- Breast cancer
- Non-small cell lung cancer
- Colorectal cancer
- Leukemia
- Melanoma
- Prostate cancer
- Others
- Canada Oncology Companion Diagnostic Market Technology Outlook (Revenue, USD Million , 2018-2030)
- Polymerase chain reaction (PCR)
- Next-generation sequencing (NGS)
- Immunohistochemistry (IHC)
- In situ hybridization (ISH)/Fluorescence in situ hybridization (FISH)
- Other technologies
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Target buyers of oncology companion diagnostics market databook
- Our clientele includes a mix of oncology companion diagnostics market companies, investment firms, advisory firms & academic institutions.
- 30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
- Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
- The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of country-level data and insights on the Canada oncology companion diagnostics market, including forecasts for subscribers. This country databook contains high-level insights into Canada oncology companion diagnostics market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
Canada Oncology Companion Diagnostic Market, 2018-2030 (US$M)
Canada oncology companion diagnostics market statistics, by product & service, 2018-2030 (US$M)
