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Canada In-vitro Diagnostics Market – Growth, Trends, and Forecast (2019-2024)

Healthcare Published by: Mordor Intelligence Market: Canada
68 pages Published: 09-07-2019
  • Healthcare
  • Mordor Intelligence
  • Canada
  • 68 pages
  • Published: 09-07-2019

Market Overview

 

The Canadian in-vitro diagnostics market is expected to register a CAGR of 5.2% over the forecast period. A few factors that are responsible for the growth of this market include the increasing use of Point-of-Care (POC) diagnostics, advanced technologies, and increasing awareness and acceptance of personalized medicine and companion diagnostics.

 

IVDs are extremely valuable for disease prevention, detection, and management. They have the ability to influence almost two-thirds of clinical decision making while accounting for just 2% of healthcare spending. The emerging technological innovations in healthcare, such as bio-sensors, lab-on-a-chip, wearable devices, and POC diagnostics, are increasingly becoming an important part of the healthcare landscape. POC diagnostics are no longer limited to simple tests and can now be used for diagnosing serious conditions. For example, the POC test for Prostate-specific Antigen (PSA) is used for the diagnosis of prostate cancer in men. Similarly, several POC diagnostic products have been developed to be used on a patient’s bedside in hospitals, to get instant results without the need of sending the samples to the lab. Owing to the ease of use and ability to provide instant results, combined with ease of procurement, the use of POC diagnostics in Canada is increasing rapidly, and this, in turn, is promoting the growth of the IVD market in the country.

 

Scope of the Report

 

In-vitro diagnostics involves medical devices and consumables that are utilized to perform in vitro tests on various biological samples. They are used for the diagnosis of various medical conditions, such as chronic diseases.

 

Key Market Trends

 

Infectious Disease is Expected to Hold the Highest Revenue Share in the Application Segment

 

The infectious disease segment holds the major revenue share in the IVD application due to the presence of a high number of infectious disease cases. As per the World Health Organization, nearly 17 million deaths are caused each year by infectious diseases. They account for nearly 30% of the annual mortality rate, worldwide. And for certain infectious diseases like influenza, the point-of-care is well established across the developed markets, such as Canada. For infectious diseases identification, molecular diagnostics, including microarray analysis, mass spectrometry, and nucleic acid amplification is the fastest-growing segment. A large number of companies are investing for opportunistic growth in essential IVD list (EDL) by WHO, including syphilis and human papillomavirus infections. Several large companies have welcomed the EDL list of 2018 by the WHO, such as Qiagen and Thermo Fisher Scientific. These companies have technology advanced testing products for a range of infectious diseases. All these factors are helping to grow positively over the forecast period.

 

Competitive Landscape

 

The Canadian in-vitro diagnostics market is moderately competitive and consists of several major players. In terms of market share, a few of the major players currently dominate the market. In addition, the rising need for diagnostics due to the rising prevalence of diseases and the advances in IVD is helping the few other smaller players in entering the market. Some of the major players of the market are Becton Dickinson and Company, BioMerieux, Bio-Rad Laboratories Inc., Danaher Corporation, and Thermo Fisher Scientific, among others.

 

Reasons to Purchase this report:

– The market estimate (ME) sheet in Excel format

– Report customization as per the client’s requirements

– 3 months of analyst support

1 INTRODUCTION

1.1 Study Deliverables

1.2 Study Assumptions

1.3 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS

4.1 Market Overview

4.2 Market Drivers

4.2.1 Increasing Use of Point-of-Care (POC) Diagnostics

4.2.2 Advanced Technologies

4.2.3 Increasing Awareness and Acceptance of Personalized Medicine and Companion Diagnostics

4.3 Market Restraints

4.3.1 Stringent Regulations

4.3.2 Cumbersome Reimbursement Procedures

4.4 Porter’s Five Force Analysis

4.4.1 Threat of New Entrants

4.4.2 Bargaining Power of Buyers/Consumers

4.4.3 Bargaining Power of Suppliers

4.4.4 Threat of Substitute Products

4.4.5 Intensity of Competitive Rivalry

5 MARKET SEGMENTATION

5.1 By Technique

5.1.1 Immunochemistry

5.1.2 POC Diagnostics

5.1.3 Molecular Diagnostics

5.1.4 Hematology

5.1.5 Tissue Diagnostics

5.1.6 Microbiology

5.1.7 Self-blood Glucose Monitoring

5.1.8 Other Techniques

5.2 By Product

5.2.1 Instrument

5.2.2 Reagent

5.2.3 Data Management System

5.3 By Usability

5.3.1 Disposable IVD Devices

5.3.2 Reusable IVD Devices

5.4 By Application

5.4.1 Infectious Disease

5.4.2 Diabetes

5.4.3 Cancer/Oncology

5.4.4 Cardiology

5.4.5 Autoimmune Disease

5.4.6 Nephrology

5.4.7 Drug Testing

5.4.8 HIV/AIDS

5.4.9 Other Applications

5.5 By End Users

5.5.1 Laboratory

5.5.2 Hospital

5.5.3 Other End Users

6 COMPETITIVE LANDSCAPE

6.1 Company Profiles

6.1.1 BioMerieux

6.1.2 Danaher Corporation

6.1.3 F. Hoffmann-La Roche AG

6.1.4 Becton, Dickinson and Company

6.1.5 Bio-Rad Laboratories Inc.

6.1.6 Abbott Laboratories

6.1.7 Arkray Inc.

6.1.8 Hologic

6.1.9 Thermo Fischer Scientific Inc.

7 MARKET OPPORTUNITIES AND FUTURE TRENDS

MARKET SEGMENTATION

 

By Technique

Immunochemistry

POC Diagnostics

Molecular Diagnostics

Hematology

Tissue Diagnostics

Microbiology

Self-blood Glucose Monitoring

Other Techniques

 

By Product

Instrument

Reagent

Data Management System

 

By Usability

Disposable IVD Devices

Reusable IVD Devices

 

By Application

Infectious Disease

Diabetes

Cancer/Oncology

Cardiology

Autoimmune Disease

Nephrology

Drug Testing

HIV/AIDS

Other Applications

 

By End Users

Laboratory

Hospital

Other End Users

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Canada Hospital Supplies Market – Growth, Trends, and Forecast (2019 – 2024)

Healthcare Published by: Mordor Intelligence Market: Canada
68 pages Published: 09-07-2019
  • Healthcare
  • Mordor Intelligence
  • Canada
  • 68 pages
  • Published: 09-07-2019

Market Overview

 

Canada’s hospital supplies market is poised to reach USD 28.8 billion by 2024, growing at a CAGR of 6.6%. Hospital medical equipment and supplies include various devices, tools, instruments, and medical consumables that are used in hospitals and healthcare establishments.

 

The Canadian hospital supplies market is increasing at a substantial rate due to the upsurge in the number of hospitals, rapidly increasing aging population, and the increasing awareness about hospital-acquired infections (HAIs).

 

Scope of the Report

 

Hospital supplies are medical equipment and consumables that are used in hospitals and clinics for the treatment, transportation, disinfection, and preliminary diagnosis of patients. Hospital supplies include medical products, such as gowns, drapes, gloves, procedure trays, operating room tables, operating room lights, needles syringes, thermometers, stethoscopes, stretchers, wheel chairs, sterilization equipment, and syringes and needles.

 

There have been advancements in technology which have improved the functionality of hospital supplies, resulting in the increased adoption of hospital supplies, such as needles and syringes, gloves, drapes, and gowns. Almost all procedures in hospitals include some type of hospital supplies, underlining the importance of the hospital supplies market.

 

Key Market Trends

 

Patient Examination Devices led the market in 2018

 

Based on the type of product, the market is led by patient examination devices. The growing geriatric population and increasing incidence of hospital acquired infection is fuelling the growth of this product segment.

 

The patient examination devices are capital equipment which requires high initial capital. Consequently, their replacement rate is fairly low and over the forecast period, the growth rate of this product segment will lower significantly.

 

Disposable Hospital Supplies to have the highest growth

 

Over the forecast period, the fastest growing sub-segment under the type of product segmentation is expected to be disposable hospital supplies. The growth in the number of outpatient visits in Canada is primarily due to the increasing prevalence of acute infections and is the main propellant for the high growth of disposable hospital supplies. 

 

Competitive Landscape

 

The leading vendors of hospital supplies in the Canadian region include Cardinal Health Inc. and 3M Healthcare. Other leading vendors include Boston Scientific and B. Braun Melsungen. The disposable hospital supplies market in Canada includes both big companies as well as many small companies. The companies have presences in different segments, including gowns, gloves, drapes, and procedure trays.

 

Reasons to Purchase this report:

– The market estimate (ME) sheet in Excel format

– Report customization as per the client’s requirements

– 3 months of analyst support

1 INTRODUCTION

1.1 Study Deliverables

1.2 Study Assumptions

1.3 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS

4.1 Market Overview

4.2 Market Drivers

4.2.1 Increase in Geriatric Population

4.2.2 Technological Advancements

4.3 Market Restraints

4.3.1 Lack of Guidelines concerning Disinfections and Sterilisation

4.3.2 Growing Popularity of Home Care Services

4.4 Porter’s Five Forces Analysis

4.4.1 Threat of New Entrants

4.4.2 Bargaining Power of Buyers/Consumers

4.4.3 Bargaining Power of Suppliers

4.4.4 Threat of Substitute Products

4.4.5 Intensity of Competitive Rivalry

5 MARKET SEGMENTATION

5.1 Type of Product

5.1.1 Patient Examination Devices

5.1.2 Operating Room Equipment

5.1.3 Mobility Aids and Transportation Equipment

5.1.4 Sterilization and Disinfectant Equipment

5.1.5 Disposable Hospital Supplies

5.1.6 Syringes and Needles

6 COMPETITIVE LANDSCAPE

6.1 Company Profiles

6.1.1 3M Healthcare

6.1.2 Advanced Sterilization Products Services

6.1.3 B Braun

6.1.4 Baxter International

6.1.5 Becton Dickinson

6.1.6 Boston Scientific Group

6.1.7 Cardinal Health

6.1.8 Covidien

6.1.9 GE Healthcare

6.1.10 Johnson & Johnson

6.1.11 Kimberly-Clark Corporation

6.1.12 Medtronic

6.1.13 Smith & Nephew

6.1.14 Stryker Corporation

6.1.15 Thermo Fisher Scientific

7 MARKET OPPORTUNITIES AND FUTURE TRENDS

MARKET SEGMENTATION

 

Type of Product

Patient Examination Devices

Operating Room Equipment

Mobility Aids and Transportation Equipment

Sterilization and Disinfectant Equipment

Disposable Hospital Supplies

Syringes and Needles

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