The import of medical needles, catheters, and cannulae to Canada exhibited moderate growth from 2013 to 2023. In 2023, the import value stood at $518.69 million, reflecting a year-on-year increase of 1.71%. Over the last two years (2022-2023), the imports grew by an average of 1.74% per year, while the CAGR over the past five years (2018-2023) was 1.56%. Historically, the import values have shown variability with some years of decline and recovery, but the overall trend has been positive, especially post-2018.
Looking forward, the forecasted data suggests continued growth in the import of these medical supplies to Canada. The five-year CAGR from 2023 to 2028 is expected to be 1.2%, leading to a total growth rate of 6.16% over this period. This indicates a steady but modest increase in demand.
Future trends to watch for:
- Technological advancements in medical devices that might alter the import landscape.
- Policy changes in healthcare and medical device regulations impacting import procedures.
- Global supply chain dynamics and their influence on the availability and cost of medical imports.
- Potential shifts towards local manufacturing in response to supply chain risks.
