Canada Rapid Medical Diagnostic Kits Market Size & Outlook
Canada rapid medical diagnostic kits market, 2018-2030 (US$M)
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Canada rapid medical diagnostic kits market highlights
- The Canada rapid medical diagnostic kits market generated a revenue of USD 754.9 million in 2023 and is expected to reach USD 1,259.9 million by 2030.
- The Canada market is expected to grow at a CAGR of 7.6% from 2024 to 2030.
- In terms of segment, otc rdt was the largest revenue generating product in 2023.
- OTC RDT is the most lucrative product segment registering the fastest growth during the forecast period.
Rapid medical diagnostic kits market data book summary
| Market revenue in 2023 | USD 754.9 million |
| Market revenue in 2030 | USD 1,259.9 million |
| Growth rate | 7.6% (CAGR from 2023 to 2030) |
| Largest segment | Otc rdt |
| Fastest growing segment | OTC RDT |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | OTC RDT, Professional RDT |
| Key market players worldwide | ACON Laboratories, Abbott Laboratories, BD, BioMerieux SA, Bio-Rad Laboratories Inc, Danaher Corp, Cardinal Health Inc, Creative Diagnostics, Roche, McKesson Corp, Meridian Bioscience, Trinity Biotech PLC ADR, Zoetis Inc Class A, Artron Bioresearch, Alfa Medical Group, BioNTech SE ADR, Sight Diagnostics |
Other key industry trends
- In terms of revenue, Canada accounted for 3.9% of the global rapid medical diagnostic kits 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. rapid medical diagnostic kits 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 1,259.9 million by 2030.
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Rapid Medical Diagnostic Kits Market Scope
Rapid Medical Diagnostic Kits Market Companies
| Name | Profile | # Employees | HQ | Website |
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Canada rapid medical diagnostic kits 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 rapid medical diagnostic kits market will help companies and investors design strategic landscapes.
Otc rdt was the largest segment with a revenue share of 63.05% in 2023. Horizon Databook has segmented the Canada rapid medical diagnostic kits market based on otc rdt, professional rdt covering the revenue growth of each sub-segment from 2018 to 2030.
Increasing number of initiatives being undertaken by local players and growing penetration of key players in the Canadian market to fulfill the growing demand for rapid COVID-19 diagnostic tests are among factors anticipated to propel the market growth.
For instance, Sona Nanotech, Inc., a Canadabased life sciences company, is developing a rapid lateral flow test for diagnosis of COVID-19. On March 31, 2020, the company received USD 4.1 million funding from NGen, a not-for-profit organization, for development and commercialization of rapid tests for COVID-19.
BTNX, Inc., a Canada-based biotechnology company, has developed and launched a rapid test for COVID-19 diagnosis. Moreover, on March 31, 2020, South Korea-based 1drop, Inc. and its partner Luminarie Canada, Inc. received Health Canada authorization to import and market 1drop’s COVID-19 Kit in Canada. Following this approval, 1drop, Inc. started marketing its rapid COVID-19 test in the Canadian market.
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Horizon Databook provides a detailed overview of country-level data and insights on the Canada rapid medical diagnostic kits market , including forecasts for subscribers. This country databook contains high-level insights into Canada rapid medical diagnostic kits market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Canada rapid medical diagnostic kits market size, by product, 2018-2030 (US$M)
Canada Rapid Medical Diagnostic Kits Market Outlook Share, 2023 & 2030 (US$M)
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