In the biotechnology sector in Canada, the number of patents grew from 268.05 in 2013 to 299.46 in 2023. This reflects a moderate upward trend with some fluctuations over the years. Significant changes occurred in 2020, showing a year-on-year increase of 17.03%. However, growth was more stable from 2021 to 2023, with an overall Compound Annual Growth Rate (CAGR) of 1.04% during this period.
Future trends indicate a continued, albeit slow, growth in the number of patents, with a forecast 5-year CAGR of 0.77%, reaching 314.58 units by 2028. Key factors to monitor include advancements in biotech innovations, changing regulatory environments, and increased investment in research and development.
