Canada Biochip Market Size & Outlook, 2023-2030
Canada biochip market, 2018-2030 (US$M)
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Canada biochip market highlights
- The Canada biochip market generated a revenue of USD 438.5 million in 2023 and is expected to reach USD 1,075.8 million by 2030.
- The Canada market is expected to grow at a CAGR of 13.7% from 2024 to 2030.
- In terms of segment, dna chips was the largest revenue generating type in 2023.
- Lab-on-chip is the most lucrative type segment registering the fastest growth during the forecast period.
Biochip market data book summary
| Market revenue in 2023 | USD 438.5 million |
| Market revenue in 2030 | USD 1,075.8 million |
| Growth rate | 13.7% (CAGR from 2023 to 2030) |
| Largest segment | Dna chips |
| Fastest growing segment | Lab-on-chip |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Tissue Arrays, Cell Arrays, DNA Chips, Lab-on-chip, Protein Chips |
| Key market players worldwide | Agilent Technologies Inc, PerkinElmer, Illumina Inc, Bio-Rad Laboratories Inc, Standard BioTools Inc, GE HealthCare Technologies Inc Common Stock, Thermo Fisher Scientific Inc, Qiagen NV, Randox |
Other key industry trends
- In terms of revenue, Canada accounted for 3.9% of the global biochip 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. biochip 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 1,075.8 million by 2030.
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Biochip Market Scope
Biochip Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Canada biochip market outlook
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 biochip market will help companies and investors design strategic landscapes.
Dna chips was the largest segment with a revenue share of 40.23% in 2023. Horizon Databook has segmented the Canada biochip market based on tissue arrays, cell arrays, dna chips, lab-on-chip, protein chips covering the revenue growth of each sub-segment from 2018 to 2030.
The country’s strong healthcare system, ample natural resources, regulated food sectors, and diverse ecosystems have positioned the country as a leader in genomics technologies. The Canadian Institutes of Health Research has undertaken a Personalized Medicine Initiative to support the translation, validation, and discovery of targets, genomic signatures, & biomarkers, which can be used for disease & risk prevention.
Such initiatives are anticipated to drive the biochips market in the region. Moreover, an increase in R&D in biotechnology due to growing funding by government organizations has led to increased demand for genomics, thus boosting the market share.
In 2018, Genome Canada, a nonprofit organization funded by the Canadian government, announced its collaboration with various Canadian provinces and organizations to invest a total of USD 204.4 million in two initiatives related to the advancement of genomic technology and precision medicine.
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Our clientele includes a mix of biochip market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of country-level data and insights on the Canada biochip market, including forecasts for subscribers. This country databook contains high-level insights into Canada biochip market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Canada biochips market size, by type, 2018-2030 (US$M)
Canada Biochip Market Share, 2023 & 2030 (US$M)
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