In recovery: Pressure from imports encouraged domestic operators to embrace product innovation

The Medical Instrument and Supply Manufacturing industry in Canada produces a variety of nonelectric medical, dental and veterinary products for personal and professional use. The industry's broad range of medically necessary products largely shields revenue from sharp fluctuations based on changes in specific downstream demand environments. However, pressure from imports is an omnipresent threat that has encouraged domestic operators to embrace product innovation over standardized manufacturing. Several large demographic and economic factors catalyze demand for industry products. The Canadian population aged 65 and older is expected to grow over the 10 years to 2024, boosting overall demand for healthcare services, and in turn, medical instruments and supplies...read more.

Industry Statistics & Market Size
Revenue
$4bn
Annual Growth 14-19
5.8%
Forecast Growth 19-24
Profit
Employment
20,935
Businesses
2,362

Industry Threats & Opportunities

  • The aging Canadian population and rising healthcare expenditure are expected to bolster revenue
  • International trade has acted as a major contributor to growth
  • Growing production in emerging markets will spur import competition
  • Industry Report - Industry SWOT Analysis Chapter

    The Medical Instrument and Supply Manufacturing industry in Canada is in the growth phase of its economic life cycle. Industry value added (IVA), which measures an industry’s contribution to the overall Canadian economy, is expected to increase at an annualized rate of 4.8% over the 10 years to 2024, while Canada’s GDP is forecast to increase an annualized 1.7% during the same period. Not...purchase to read more.

    Additional Insights for the Medical Instrument & Supply Manufacturing Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Medical Instrument & Supply Manufacturing Industry are

  • Undertaking technical research and development
  • Establishment of export markets
  • Economies of scale
  • IBISWorld analysts also discuss how external factors such as Number of adults aged 65 and older and Research and development expenditure in the Medical Instrument & Supply Manufacturing industry impact industry performance..

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    What's in this report

    What is the Medical Instrument & Supply Manufacturing Industry?

    Operators in this industry primarily research, develop and produce nonelectronic medical, surgical, dental and veterinary instruments and apparatuses, such as syringes, anesthesia apparatuses, blood transfusion equipment, catheters, surgical clamps and medical thermometers. The industry does not manufacture electromedical and electrotherapeutic apparatuses, laboratory instruments, X-ray apparatuses, nonmedical thermometers or ophthalmic goods, such as contact lenses and eyeglasses.

    Industry Products
  • Diagnostic apparatuses
  • Consumables
  • Patient aids
  • Orthopedic and prosthetic products
  • Dental products
  • Industry Activities
  • Designing medical, surgical, veterinary and dental instruments and supplies
  • Manufacturing medical, surgical, veterinary and dental instruments and supplies
  • Marketing medical, surgical, veterinary and dental instruments and supplies
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Number of adults aged 65 and older
  • Research and development expenditure
  • Total health expenditure
  • Canadian effective exchange rate index

  • Current Performance
  • Demand at home and abroad
  • The shape of the industry
  • Chart: Revenue Growth

  • Industry Outlook
  • Trade growth
  • Trends at home
  • Table: Medical Instrument & Supply Manufacturing Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Medical Instrument & Supply Manufacturing Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Medical Supplies Wholesaling in Canada
  • Veterinary Services in Canada
  • Primary Care Doctors in Canada
  • Specialist Doctors in Canada
  • Dentists in Canada
  • Hospitals in Canada

  • Key Selling Industries
  • Glass Product Manufacturing in Canada
  • Plastic Pipe & Parts Manufacturing in Canada
  • Rubber Product Manufacturing in Canada
  • Tire Manufacturing in Canada

  • Products & Services
  • Other
  • Diagnostic apparatuses
  • Consumables
  • Patient aids
  • Orthopedic and prosthetic products
  • Dental products
  • Chart: Medical Instrument & Supply Manufacturing Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • Exports
  • Hospitals
  • Physicians
  • Other institutions
  • Dentists
  • Other health professionals
  • Vision care specialists
  • Chart: Major Market Segmentation for the Medical Instrument & Supply Manufacturing Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
    WagesPurchasesProfitDepreciationMarketingRentUtilitiesOther
  • Chart: Cost Structure Benchmarking – Sector vs Medical Instrument & Supply Manufacturing

  • Basis of Competition
    Barriers to Entry
  • Table: Barrier to Entry Checklist for the Medical Instrument & Supply Manufacturing Industry

  • Industry Globalization
    Baxter International Inc., Becton, Dickinson and Company,
  • Table: Baxter International Inc. - financial performance
  • Table: Becton, Dickinson and Company - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Medical Instrument & Supply Manufacturing Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Medical Instrument & Supply Manufacturing Industry
    Includes:
  • Industry Revenue (2010-2024)
  • Industry Gross Product (2010-2024)
  • Establishments (2010-2024)
  • Businesses (2010-2024)
  • Employment (2010-2024)
  • Exports (2010-2024)
  • Imports (2010-2024)
  • Wages (2010-2024)
  • Wages (2010-2024)
  • Purchases (2010-2024)
  • Profit (2010-2024)
  • Depreciation (2010-2024)
  • Marketing (2010-2024)
  • Rent (2010-2024)
  • Utilities (2010-2024)
  • Other (2010-2024)
  • Research and development expenditure (2010-2024)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Catheter
  • A medical grade tube inserted into the body for any one of several functions, including drainage, the administration of medicine or to open a blockage.
  • Orthopedic Surgery
  • The branch of surgery focusing on the musculoskeletal system.
  • Stent
  • A small mesh tube used to treat narrow or weak arteries.
  • What Our Customers Say

    Why buy this report?

    The Medical Instrument & Supply Manufacturing market research report provides key industry analysis and industry statistics, measures market size, analyzes current and future industry trends and shows market share for the industry’s largest companies. IBISWorld publishes the largest collection of industry reports so you can see an industry’s supply chain, economic drivers and key buyers and markets.

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Medical Instrument & Supply Manufacturing:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Medical Instrument & Supply Manufacturing market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Medical Instrument & Supply Manufacturing, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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