Canada Biosensors Market Size & Outlook, 2022-2030
Canada biosensors market, 2018-2030 (US$M)
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Canada biosensors market highlights
- The Canada biosensors market generated a revenue of USD 1,701.6 million in 2022 and is expected to reach USD 3,390.3 million by 2030.
- The Canada market is expected to grow at a CAGR of 9% from 2023 to 2030.
- In terms of segment, electrochemical was the largest revenue generating technology in 2022.
- Electrochemical is the most lucrative technology segment registering the fastest growth during the forecast period.
Biosensors market data book summary
| Market revenue in 2022 | USD 1,701.6 million |
| Market revenue in 2030 | USD 3,390.3 million |
| Growth rate | 9% (CAGR from 2022 to 2030) |
| Largest segment | Electrochemical |
| Fastest growing segment | Electrochemical |
| Historical data | 2018 - 2021 |
| Base year | 2022 |
| Forecast period | 2023 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Thermal, Electrochemical, Piezoeletric, Optical |
| Key market players worldwide | Bio-Rad Laboratories Inc, Medtronic PLC, Abbott Laboratories, Biosensors, Pinnacle Financial Partners Inc, DuPont Nutrition & Biosciences, Johnson & Johnson, Koninklijke Philips NV, Nova Biomedical, Koch Industries, TDK Corp, Siemens AG |
Other key industry trends
- In terms of revenue, Canada accounted for 6.3% of the global biosensors market in 2022.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In North America, U.S. biosensors 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 3,390.3 million by 2030.
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Biosensors Market Scope
Biosensors Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Canada biosensors 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 biosensors market will help companies and investors design strategic landscapes.
Electrochemical was the largest segment with a revenue share of 69.52% in 2022. Horizon Databook has segmented the Canada biosensors market based on thermal, electrochemical, piezoeletric, optical covering the revenue growth of each sub-segment from 2018 to 2030.
Sedentary lifestyle and unhealthy food habits are considered to be major factors driving the market growth in Canada. Unhealthy lifestyle has led to a significant increase in the prevalence of obesity and diabetes in the country.
For instance, according to International Diabetes Federation, in 2020, the prevalence of diabetes in Canada was around 10.1% in adults with around 2,793,500 cases of diabetes being reported in 2019. Since medical biosensors are generally used for routine diagnosis and management, high incidence of such diseases is anticipated to boost the market demand.
The recent outbreak of COVID-19 has also resulted in an increase in the demand for biosensors, as they are widely used for testing purposes. For instance, the Canadian government has funded 49 additional COVID-19 research projects, which include “Development of a rapid point-of-care diagnostic test for COVID-19” as one of the projects.
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Our clientele includes a mix of biosensors 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 biosensors market , including forecasts for subscribers. This country databook contains high-level insights into Canada biosensors market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Canada biosensors market size, by technology, 2018-2030 (US$M)
Canada Biosensors Market Outlook Share, 2022 & 2030 (US$M)
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