Canada Clinical Laboratory Tests Market Size & Outlook
Canada clinical laboratory tests market, 2018-2030 (US$M)
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Canada clinical laboratory tests market highlights
- The Canada clinical laboratory tests market generated a revenue of USD 6,225.7 million in 2023 and is expected to reach USD 12,960.1 million by 2030.
- The Canada market is expected to grow at a CAGR of 11% from 2024 to 2030.
- In terms of segment, lipid panel tests was the largest revenue generating type in 2023.
- HGB/HCT tests is the most lucrative type segment registering the fastest growth during the forecast period.
Clinical laboratory tests market data book summary
| Market revenue in 2023 | USD 6,225.7 million |
| Market revenue in 2030 | USD 12,960.1 million |
| Growth rate | 11% (CAGR from 2023 to 2030) |
| Largest segment | Lipid panel tests |
| Fastest growing segment | HGB/HCT tests |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Complete blood count, HGB/HCT tests, Basic metabolic panel, BUN creatinine tests, Electrolytes testing, HbA1c tests, Comprehensive metabolic panel tests, Liver panel tests, Renal panel tests, Lipid panel tests |
| Key market players worldwide | Quest Diagnostics Inc, Abbott Laboratories, Labcorp Holdings Inc, ARUP Laboratories, OPKO Health Inc, Clinical Reference Laboratory, Sonic Healthcare Ltd, Cinven, Unilabs |
Other key industry trends
- In terms of revenue, Canada accounted for 5.4% of the global clinical laboratory tests 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. clinical laboratory tests 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 12,960.1 million by 2030.
Lipid panel tests was the largest segment with a revenue share of 12.34% in 2023. Horizon Databook has segmented the Canada clinical laboratory tests market based on complete blood count, hgb/hct tests, basic metabolic panel, bun creatinine tests, electrolytes testing, hba1c tests, comprehensive metabolic panel tests, liver panel tests, renal panel tests, lipid panel tests covering the revenue growth of each sub-segment from 2018 to 2030.
Canada's clinical laboratory tests market is expected to grow at a lucrative rate during the forecast period. The Canadian government is undertaking initiatives by collecting public feedback and formulating plans to eliminate unnecessary tests and make testing cost-effective. For instance, the low cost tests initiative is run by the government.
Increasing investment in laboratories is anticipated to propel the growth of clinical laboratory testing. The rise in public-private investments in the laboratory sector has increased the number of labs in Canada, making laboratory tests a fragmented and competitive market.
The increasing prevalence of chronic diseases such as hypertension, diabetes, and heart disease is expected to fuel market growth during the forecast period. For instance, as per Hypertension Canada, seven and a half million people, about 1 in 5 adults, live with hypertension in Canada.
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Clinical Laboratory Tests Market Scope
Clinical Laboratory Tests Market Companies
| Name | Profile | # Employees | HQ | Website |
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Canada clinical laboratory tests market size, by type, 2018-2030 (US$M)
Canada Clinical Laboratory Tests Market Outlook Share, 2023 & 2030 (US$M)
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