BMI Industry View : Canada has a sophisticated and well established medical device market which ranks ninth in the world in terms of value. The market is e xpected to grow at a CAGR of 4.0% over the 2014-2019 period. This steady growth should see the balance of trade deficit widen owing to Canada's reliance upon imports.
|Total (USDmn)||Per Capita (USD)||Total (Local Currency mn)||Per Capita (Local Currency)||Exchange Rate (Local Currency/USD)|
Latest Updates And Key Forecasts
We forecast that the market will grow at a 2014-2019 CAGR of 4.0% in US dollar terms, which will increase the market value from USD6.7bn in 2014 to USD8.2bn in 2019. The lower US dollar growth reflects a weakening of the Canadian dollar against the US dollar at the start of our forecast period.
Imports will continue to decline in US dollar terms, having exhibited a y-o-y fall for seven successive quarters. Imports fell by 7.3% y-o-y to USD1,228.9mn over the third quarter of 2015.
Canadian exports are exhibiting growth, having increased over the two quarters against a backdrop of currency depreciation. Exports increased by 1.8% y-o-y in US dollar terms to USD408.3mn over the third quarter of 2015.
The healthcare market will benefit from the newly elected government's ease off on austerity. Private spending on healthcare will marginally outpace that of the public sector and account for a growing percentage of the market. Anticipated higher fiscal spending and tax cuts will reduce economic pressure on households and boost private healthcare expenditure.
The Canada Medical Devices Report features market forecasts supported by trade, production and healthcare estimates by Espicom, a BMI Research's company. These forecasts and estimates focus on six product areas: Consumables, Diagnostic Imaging, Dental Products, Orthopaedics & Prosthetics, Patient Aids and Other Medical Devices.
Detailed product breakdown for market, trade and production data in Canada provides industry professionals, strategists, company executives and analysts with independent forecasts and competitive intelligence on the Canada Medical Devices industry.
- Benchmark BMI's Medical Devices market forecasts, which take into account macroeconomic and industry-specific forecasts for Canada, to test analysis as it is a key input for budgeting and strategic business planning. Use our standardised data to gain a better understanding of market performance in Canada.
- Target Business Opportunities in the Canada Medical Devices market by using our assessments and projections for demographic trends, regulatory developments, investment dynamics and domestic demand in Canada.
- Assess the activities and market position of your competitors via our assessments of domestic production, national and multinational manufacturers, along with the trade and distribution outlets of multinationals, key company developments and future growth prospects.
BMI Industry View
Provides industry, political and economic views. Briefly analyses the medical devices market, taking into account the latest industry forecasts, healthcare indicators and industry trends & developments.
SWOT analyses of the medical devices market, the political environment, the economic landscape and the business environment.
Evaluates and analyses the medical devices market in terms of historical and forecast trends, covering six product areas: Consumables, Diagnostic Imaging, Dental Products, Orthopaedics & Prosthetics, Patient Aids and Other Medical Devices. Additionally, presents annual and monthly import and export trade data.
Presents macroeconomic forecasts impacting the medical devices market.
Industry Risk Reward Index
Risk Reward Indices tool, which provides a globally comparative and numerically based assessment of the medical devices market’s attractiveness.
Assesses the medical devices market in the current year. Additionally, covers healthcare trends shaping the market, focusing on health status, healthcare system, healthcare funding, healthcare resources, healthcare activity and healthcare personnel. Includes historical healthcare data.
Industry Trends & Developments
Analyses the latest industry trends and developments shaping the market, in terms of monthly trade performance, forecast trends, production changes, regulatory developments, competitive strategies, political events and economic performance.
A focus on government healthcare reforms, epidemiological trends, mergers and acquisitions, product launches, market entries, FDI activity, R&D, biotechnology, clinical trials and supply chain issues.
Values historical medical devices production, and analyses the presence of national and multinational manufacturers operating in the market. Also, compares the presence of leading multinational company operations, either via sales & marketing, distribution or manufacture. Finally, takes into account market access drivers, including major distribution channels, trade associations and trade shows.
Carefully explains the medical devices market methodology, trade classifications, Risk Reward Index methodology and sources used in the medical devices market Report.