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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 2017

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

IBISWorld’s Medical Device Manufacturing market research report provides the latest industry statistics and industry trends, allowing you to identify the products and customers driving revenue growth and profitability. The industry report identifies the leading companies and offers strategic industry analysis of the key factors influencing the market.

Report Snapshot
Market Share of Companies
There are no companies with a dominant market share
Industry Statistics & Market Size
Revenue
$4bn
Annual Growth 12-17
-0.1%
Annual Growth 17-22
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Profit
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Employment
16,316
Businesses
781
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 grow in the five years to 2022. 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 - Starting a New Business Chapter

Access to capital

Obtaining stable and sustained financing through the initial prototype and product development phase can serve as another barrier for start-up medical device companies. 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.

Furthermore, start-up companies find it more difficult today than in the past to acquire the capital required to commercialize new products. In .. 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
Cardiovascular devicesNeuromodulation devicesIrradiation devicesAnesthesia and respiratory devicesDiabetes DevicesSpinal 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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