Industry Analysis & Industry Trends
Given its financial stability and abundant resources, Canada has the potential to grow into a hub for medical device innovation. Canada is home to some of the world's most recognized scientific research institutions and a large number of experienced, highly trained researchers. These strengths, coupled with government tax incentives for medical technology development, will lead to revenue to growth in the five years to 2020. Consolidation activity will likely remain robust, although not due to the economic hurdles the industry faced in the past; instead, most acquisitions will be spurred on by a desire on behalf of large companies to acquire the most cutting edge technological developments... purchase to read more
Industry Report - Industry Analysis Chapter
Medical device manufacturers have struggled over the five years to 2015. Medical devices have an essential role in the healthcare sector, but low growth in total health expenditure and capital investments in recent years has hampered growth for a number of industry operators. During the five years to 2015, IBISWorld expects industry revenue to contract at an average annual rate of 2.3% to $4.0 billion. However, revenue is expected to fall just 0.4% in 2015 as a result of the improving industry climate.
Demographics drive demand
Despite the industry's setbacks, the aging population has contributed to market growth; as individuals age, they are more prone to develop chronic diseases that require medical treatment... purchase to read more