In 2023, the Higher Education Expenditure on R&D in Natural Sciences and Engineering in Canada is estimated at approximately 9.92 Billion US Dollars PPP. Forecasts suggest a consistent annual increase, reaching 10.41 Billion USD by 2028. This pattern indicates a steady year-on-year growth rate of about 1% from 2024 onwards. Over the six-year period from 2023 to 2028, the compound annual growth rate (CAGR) is projected to be around 1% as well.
Trends to watch for in the future include:
- Potential fluctuations due to economic changes affecting public and private funding.
- The impact of technological advancements on research methods and expenditure.
- Policy shifts that may alter the focus areas within natural sciences and engineering research.
- Increased collaboration with international research bodies.
