In 2023, Canada's total intramural expenditure on R&D in all fields stood at 44.89 billion CAD. From 2024 to 2028, this expenditure is forecasted to increase annually, reaching 50.66 billion CAD by 2028. The year-on-year growth rates for 2025 and 2026 are approximately 2.49% and 2.41%, respectively. Over the five-year period from 2024 to 2028, the compound annual growth rate (CAGR) is about 2.42%.
Future trends to watch for include:
- Potential shifts in government policy affecting R&D funding.
- Impact of economic conditions on the private sector's R&D investments.
- Emerging technologies and industries driving increased R&D focus and spending.
