Cutting edge: The aging population and innovation will spur growth, despite regulatory pressure
IBISWorld’s Medical Device Manufacturing market research report is a comprehensive guide to market size and growth prospects. Our industry reports offer strategic industry analysis of the factors influencing companies, including new product developments, economic, lifestyle and demographic influences, distribution and supply chain factors and pricing issues. Full analysis accompanies our data forecasts to illustrate how the market responds to emerging industry trends.
Industry Statistics & Market Size
Annual Growth 09-14
Annual Growth 14-19
Industry Analysis & Industry Trends
The five years to 2014 have been difficult for the Medical Device Manufacturing industry. While industry products are nondiscretionary, the recession and its effects on key exports markets along with slow growth in total health expenditure negatively affected the industry. However, because Canada houses some of the world's best scientific research institutions as well as a great deal of experienced researches, the next five years are expected to generate better conditions for the industry overall... purchase to read more
Industry Report - Starting a New Business Chapter
Access to capital
Obtaining stable and sustained financing through initial prototype and product development phase can serve as another barrier for start-up medical device companies. About 10.0% of Canadian medical device companies emerge as a result of a spin-off from universities, laboratories and other companies. Consequently, cash-strapped operators seek partnerships with universities and academic institutions, where the majority of government-provided funding is concentrated. However, due to the structure and the size of academic and clinical centres, new players may face difficulty in achieving collaboration, which is essential to the survival and growth of any medical device company... purchase to read more
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.
Spinal devicesCardiovascular devicesNeuromodulation devicesIrradiation devicesAnesthesia and respiratory devices
Researching and developing medical, diagnostic and therapeutic apparatusFabricating medical, diagnostic and therapeutic apparatusMarketing, distributing and selling medical, diagnostic and therapeutic apparatus