Medical Device Manufacturing in Canada - Industry Market Research Report
Medical Device Manufacturing in Canada
Canadian medical device manufacturers have endured volatile performance through the current period. Given the essential nature of medical devices, higher total health expenditure and the Canadian dollar's depreciation were boons for manufacturers. While steady demand from the healthcare sector and an aging population often insulates manufactures from large economic fluctuations, the pandemic created notable disruptions; healthcare providers shifted resources to battle the pandemic, contributing to an overall drop in revenue. Ongoing supply chain issues for key components of medical devices, especially semiconductors, also weighed on performance. As the broader economy and healthcare sector recovers, medical device manufacturers will swiftly rebound. Revenue contracted at an expected CAGR of 0.7% to $6.5 billion through the current period, despite a 3.7% rally in 2023 as demand for medical devices recovers.
The industry primarily comprises manufacturers of electromedical and electrotherapeutic apparatus, such as magnetic resonance imaging equipment, medical ultrasound equipment, pacemakers, hearing aids, electrocardiographs and electromedical endoscopic equipment. The industry also manufactures environmental controls and regulators, signal testing apparatus, drafting instruments, industrial process control instruments and surveying and geophysical instruments.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
ABOUT THIS INDUSTRY
Industry Definition Main Activities Similar Industries Additional Resources
INDUSTRY AT A GLANCE
INDUSTRY PERFORMANCE
Executive Summary Key External Drivers Current Performance Industry Outlook Industry Life Cycle
PRODUCTS & MARKETS
Supply Chain Products & Services Demand Determinants Major Markets International Trade Business Locations
COMPETITIVE LANDSCAPE
Market Share Concentration Key Success Factors Cost Structure Benchmarks Basis of Competition Barriers to Entry Industry Globalization
MAJOR COMPANIES
OPERATING CONDITIONS
Capital Intensity Technology & Systems Revenue Volatility Regulation & Policy Industry Assistance