Canada Microfluidics Market Size & Outlook, 2023-2030
Canada microfluidics market, 2018-2030 (US$M)
Related Markets
Canada microfluidics market highlights
- The Canada microfluidics market generated a revenue of USD 1,233.3 million in 2023 and is expected to reach USD 2,570.8 million by 2030.
- The Canada market is expected to grow at a CAGR of 11.1% from 2024 to 2030.
- In terms of segment, medical was the largest revenue generating technology in 2023.
- Medical is the most lucrative technology segment registering the fastest growth during the forecast period.
Microfluidics market data book summary
| Market revenue in 2023 | USD 1,233.3 million |
| Market revenue in 2030 | USD 2,570.8 million |
| Growth rate | 11.1% (CAGR from 2023 to 2030) |
| Largest segment | Medical |
| Fastest growing segment | Medical |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Medical, Non-Medical |
| Key market players worldwide | Illumina Inc, Roche Holding AG ADR, PerkinElmer, Agilent Technologies Inc, Bio-Rad Laboratories Inc, Danaher Corp, Abbott Laboratories, Thermo Fisher Scientific Inc, Standard BioTools Inc |
Other key industry trends
- In terms of revenue, Canada accounted for 3.8% of the global microfluidics 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. microfluidics 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 2,570.8 million by 2030.
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Microfluidics Market Scope
Microfluidics Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Canada microfluidics 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 microfluidics market will help companies and investors design strategic landscapes.
Medical was the largest segment with a revenue share of 83.99% in 2023. Horizon Databook has segmented the Canada microfluidics market based on medical, non-medical covering the revenue growth of each sub-segment from 2018 to 2030.
Limited laboratory resources coupled with an increasing number of sample specimens for testing and less research funding is a challenge for Canadian medical laboratories. Regarding these challenges, some laboratories have adopted six sigma and process automation.
These labs are the ones to innovate genetic and new molecular testing. Moreover, mergers and acquisitions are consolidating the microfluidics industry in Canada. For instance, in November 2021, The Centre for Research and Applications in Fluidic Technologies (CRAFT), as part of a partnership with the National Research Council of Canada and the University of Toronto, launched a new research facility at the University of Toronto St. George campus.
The Device Foundry was to bring together clinicians, entrepreneurs, researchers, and industry collaborators to advance micro-nanofluidic device production. The rising presence of microfluidics service providers in the country is expected to encourage Canadian manufacturers to launch novel microfluidics.
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Horizon Databook provides a detailed overview of country-level data and insights on the Canada microfluidics market , including forecasts for subscribers. This country databook contains high-level insights into Canada microfluidics market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Canada microfluidics market size, by technology, 2018-2030 (US$M)
Canada Microfluidics Market Outlook Share, 2023 & 2030 (US$M)
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