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Medical Device Manufacturing in Canada: Market Research Report

Market Research • Market Size • Industry Statistics • Industry Analysis • Industry Trends

Medical Device Manufacturing in Canada Market Research Report | NAICS 33451bCA | Feb 2015

Cutting edge: The aging population and innovation will spur growth, despite regulatory pressure

IBISWorld’s Medical Device Manufacturing market research report can be used to help you: understand market size and growth potential; major companies; draft business plans and pitch books; and conduct benchmarking and SWOT analysis. Our industry analysis highlights macro industry trends in the overall sector and micro trends faced by companies that do business in the industry. The industry report also provides key industry statistics and 5-year forecasts to anticipate future industry prospects so you can decide with confidence.

Report Snapshot
Market Share of Companies
There are no companies with a dominant market share
Industry Statistics & Market Size
Revenue
$4bn
Annual Growth 10-15
-2.3%
Annual Growth 15-20
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Profit
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Employment
17,991
Businesses
626
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 Investment Chapter

The industry has a medium level of capital intensity; for every $1.00 spent on wages, $0.06 is invested in capital improvements. Medical device manufacturers produce a range of products for highly specialized applications. Not all products can be manufactured on an automated production line, so the need for hands-on work increase labour costs. Skilled specialists are needed to research and develop medical devices, and these employees command salaries well above the manufacturing sector's average wage. Wages account for about 29.2% of revenue.

Depreciation costs represent about 1.8% of revenue. The larger firms within the industry frequently acquire small firms to broaden their range of products and markets, which raises capital expenditure... purchase to read more

 


Industry ProductsRelated ReportsTable of Contents

What is the Medical Device Manufacturing Industry?

This industry includes 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 irradiation apparatus and tubes for medical diagnosis, medical therapy, industrial research and scientific evaluation.

Industry Products
Spinal devicesCardiovascular devicesNeuromodulation devicesIrradiation devicesAnesthesia and respiratory devices
 
Industry Activities
Researching and developing medical, diagnostic and therapeutic apparatusFabricating medical, diagnostic and therapeutic apparatusMarketing, distributing and selling medical, diagnostic and therapeutic apparatus


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