Canada Biotechnology Market Size & Outlook, 2023-2030
Canada biotechnology market, 2018-2030 (US$M)
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Canada biotechnology market highlights
- The Canada biotechnology market generated a revenue of USD 90,373.6 million in 2023 and is expected to reach USD 206,813.8 million by 2030.
- The Canada market is expected to grow at a CAGR of 12.6% from 2024 to 2030.
- In terms of segment, health was the largest revenue generating application in 2023.
- Bioinformatics is the most lucrative application segment registering the fastest growth during the forecast period.
Biotechnology market data book summary
| Market revenue in 2023 | USD 90,373.6 million |
| Market revenue in 2030 | USD 206,813.8 million |
| Growth rate | 12.6% (CAGR from 2023 to 2030) |
| Largest segment | Health |
| Fastest growing segment | Bioinformatics |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Health, Food & Agriculture, Natural reseources & Environment, Industrial Processing, Bioinformatics, Others Applications |
| Key market players worldwide | AstraZeneca PLC, Gilead Sciences Inc, Bristol-Myers Squibb Co, Sanofi SA, Biogen Inc, Abbott Laboratories, Pfizer Inc, Amgen Inc, Novo Nordisk A/S ADR, Merck KGaA, Johnson & Johnson, Novartis AG ADR, Roche Holding AG, Lonza Group Ltd |
Other key industry trends
- In terms of revenue, Canada accounted for 5.8% of the global biotechnology 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. biotechnology 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 206,813.8 million by 2030.
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Biotechnology Market Scope
Biotechnology Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Canada biotechnology 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 biotechnology market will help companies and investors design strategic landscapes.
Health was the largest segment with a revenue share of 44.06% in 2023. Horizon Databook has segmented the Canada biotechnology market based on health, food & agriculture, natural reseources & environment, industrial processing, bioinformatics, others applications covering the revenue growth of each sub-segment from 2018 to 2030.
Canada is recognized for its advanced healthcare and life sciences solutions. The country is home to highly skilled and experienced life sciences professionals. It hosts an innovative environment for the life sciences industry, with broad research networks, abundant partnership opportunities, first-rate academic institutions, and lower costs.
The biotechnology market in Canada is expected to register significant growth throughout he forecast period owing to the ongoing advancements by institutions such as the Ontario University for development of molecular and companion diagnostics using applications of next-generation sequencing.
Furthermore, technological advancements in applications such as noninvasive prenatal testing and large-scale population sequencing projects are also expected to drive demand through to 2030. The capital raised by Canadian biotechnology companies has increased significantly in recent years.
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Our clientele includes a mix of biotechnology 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 biotechnology market , including forecasts for subscribers. This country databook contains high-level insights into Canada biotechnology market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Canada biotechnology market size, by application, 2018-2030 (US$M)
Canada Biotechnology Market Outlook Share, 2023 & 2030 (US$M)
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