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 - Industry Analysis Chapter
Medical device manufacturers have struggled over the five years to 2014. Medical devices have an essential role in the healthcare sector, but the recession, coupled with declining total health expenditure and capital investments, has hampered growth for a number of industry operators. During the five years to 2014, IBISWorld expects industry revenue to contract at an average annual rate of 2.3% to $4.0 billion. However, revenue is expected to grow 3.6% in 2014 as a result of the improving economic 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