Canada Lateral Flow Assays Market Size & Outlook
Canada lateral flow assays market, 2018-2030 (US$M)
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Canada lateral flow assays market highlights
- The Canada lateral flow assays market generated a revenue of USD 681.5 million in 2023 and is expected to reach USD 924.0 million by 2030.
- The Canada market is expected to grow at a CAGR of 4.4% from 2024 to 2030.
- In terms of segment, kits & reagents was the largest revenue generating product in 2023.
- Kits & Reagents is the most lucrative product segment registering the fastest growth during the forecast period.
Lateral flow assays market data book summary
| Market revenue in 2023 | USD 681.5 million |
| Market revenue in 2030 | USD 924.0 million |
| Growth rate | 4.4% (CAGR from 2023 to 2030) |
| Largest segment | Kits & reagents |
| Fastest growing segment | Kits & Reagents |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Kits & Reagents, Lateral Flow Readers |
| Key market players worldwide | Abbott Laboratories, Thermo Fisher Scientific Inc, Roche, Bio-Rad Laboratories Inc, BioMerieux SA, QuidelOrtho Corp, Hologic Inc, PerkinElmer, Merck KGaA, BD, Siemens Healthineers AG ADR, Danaher Corp, Qiagen NV |
Other key industry trends
- In terms of revenue, Canada accounted for 6.7% of the global lateral flow assays 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. lateral flow assays 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 924.0 million by 2030.
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Lateral Flow Assays Market Scope
Lateral Flow Assays Market Companies
| Name | Profile | # Employees | HQ | Website |
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Canada lateral flow assays 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 lateral flow assays market will help companies and investors design strategic landscapes.
Kits & reagents was the largest segment with a revenue share of 68.35% in 2023. Horizon Databook has segmented the Canada lateral flow assays market based on kits & reagents, lateral flow readers covering the revenue growth of each sub-segment from 2018 to 2030.
The COVID-19 pandemic has attracted large amounts of investments for development of rapid testing methods and purchase of lateral flow tests on a large scale. For instance, in November 2020, Health Canada authorized the use of Becton, Dickinson and Company’s rapid SARS-CoV-2 antigen test and the Canadian Government ordered 7.6 million of these tests for driving its COVID-19 testing strategy.
Similarly, in September 2020, the Ontario government invested more than USD 1 billion for expansion of COVID-19 testing and contact tracing activities in the region. Such initiatives are expected to positively affect the market growth in the country.
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Horizon Databook provides a detailed overview of country-level data and insights on the Canada lateral flow assays market , including forecasts for subscribers. This country databook contains high-level insights into Canada lateral flow assays market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Canada lateral flow assays market size, by product, 2018-2030 (US$M)
Canada Lateral Flow Assays Market Outlook Share, 2023 & 2030 (US$M)
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