Canadian medical device manufacturers have endured volatile performance through the current period. Given the essential nature of medical devices, higher total health expenditure and the Canadian dollar's depreciation were boons for manufacturers. While steady demand from the healthcare sector and an aging population often insulates manufactures from large economic fluctuations, the pandemic created notable disruptions; healthcare providers shifted resources to battle the pandemic, contributing to an overall drop in revenue. Ongoing supply chain issues for key components of medical devices, especially semiconductors, also weighed on performance. As the broader economy and healthcare sector recovers, medical device manufacturers will swiftly rebound. Revenue contracted at an expected CAGR of 0.7% to $6.5 billion through the current period, despite a 3.7% rally in 2023 as demand for medical devices recovers. The industry primarily comprises 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 environmental controls and regulators, signal testing apparatus, drafting instruments, industrial process control instruments and surveying and geophysical instruments. This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.Saving lives: Consolidation activity will be spurred by large companies acquiring new technology
Table of Contents
ABOUT THIS INDUSTRY- Industry Definition
- Main Activities
- Similar Industries
- Additional Resources
INDUSTRY PERFORMANCE
- Executive Summary
- Key External Drivers
- Current Performance
- Industry Outlook
- Industry Life Cycle
- Supply Chain
- Products & Services
- Demand Determinants
- Major Markets
- International Trade
- Business Locations
- Market Share Concentration
- Key Success Factors
- Cost Structure Benchmarks
- Basis of Competition
- Barriers to Entry
- Industry Globalization
OPERATING CONDITIONS
- Capital Intensity
- Technology & Systems
- Revenue Volatility
- Regulation & Policy
- Industry Assistance
- Industry Data
- Annual Change
- Key Ratios
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Medtronic PLC
Methodology
LOADING...