Canada Precision Medicine Market Size & Outlook, 2023-2030
Canada precision medicine market, 2018-2030 (US$M)
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Canada precision medicine market highlights
- The Canada precision medicine market generated a revenue of USD 3,722.2 million in 2023 and is expected to reach USD 11,408.5 million by 2030.
- The Canada market is expected to grow at a CAGR of 17.4% from 2024 to 2030.
- In terms of segment, therapeutics was the largest revenue generating application in 2023.
- Diagnostics is the most lucrative application segment registering the fastest growth during the forecast period.
Precision medicine market data book summary
| Market revenue in 2023 | USD 3,722.2 million |
| Market revenue in 2030 | USD 11,408.5 million |
| Growth rate | 17.4% (CAGR from 2023 to 2030) |
| Largest segment | Therapeutics |
| Fastest growing segment | Diagnostics |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Diagnostics, Therapeutics |
| Key market players worldwide | Roche, Siemens Healthineers AG ADR, Janssen Pharmaceuticals, Illumina Inc, Quest Diagnostics Inc, 23andMe Holding Co Class A, NeoDiagnostix, International Business Machines Corp, Myriad Genetics Inc, Medtronic PLC, GE HealthCare Technologies Inc Common Stock, Abbott Laboratories, Dakota Software, Biogen Inc, Qiagen NV, ImmunityBio Inc Ordinary Shares |
Other key industry trends
- In terms of revenue, Canada accounted for 4.3% of the global precision medicine 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. precision medicine 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 11,408.5 million by 2030.
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Precision Medicine Market Scope
Precision Medicine Market Companies
| Name | Profile | # Employees | HQ | Website |
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Canada precision medicine 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 precision medicine market will help companies and investors design strategic landscapes.
Therapeutics was the largest segment with a revenue share of 85.51% in 2023. Horizon Databook has segmented the Canada precision medicine market based on diagnostics, therapeutics covering the revenue growth of each sub-segment from 2018 to 2030.
In Canada, a major barrier to advancing PM is the sharing and combining of data across jurisdictions, rather than the data collection itself. The promise of personalized medicine is within reach through the Canadian Partnership for Tomorrow’s Health project (Can Path), the largest population health cohort in Canada.
Can Path has made significant progress in integrating clinical, environmental, and population level health data across all provinces, providing a national access point to deeply characterized and longitudinal health and lifestyle information, unmatched by any other entity in Canada.
In partnership with Adela, CanPath will generate genomic data to be hosted alongside clinical and population data of consented participants from across Canada within a secure digital framework. This Digital Secure Health platform has the potential to position Canada at the forefront of genomic medicine globally, supporting the development of the biotechnology sector, industry research, and harmonization with leading precision medicine programs.
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Our clientele includes a mix of precision medicine market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of country-level data and insights on the Canada precision medicine market , including forecasts for subscribers. This country databook contains high-level insights into Canada precision medicine market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Canada precision medicine diagnostics therapeutics market size, by application, 2018-2030 (US$M)
Canada Precision Medicine Market Outlook Share, 2023 & 2030 (US$M)
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