The Value Added of Medical Equipment and Supplies Manufacturing in Canada has exhibited significant growth from 1.7751 billion CAD in 2013 to 3.8387 billion CAD in 2023. Early fluctuations were noted with a decrease of 6.64% in 2014 followed by various increases, including a notable 18.07% rise in 2016. From 2018 onwards, steady growth is observed, culminating in a 7.4% increase in 2023. The compound annual growth rate (CAGR) from 2018 to 2023 was approximately 10.01%. Projected values for 2024-2028 show a moderate but consistent growth with a 5-year forecasted CAGR of 4.55%, reaching 5.1222 billion CAD in 2028.
Future trends to watch for include:
- Technological advancements in medical equipment.
- Increased focus on telemedicine and remote patient monitoring.
- Growing demand for wearable health devices.
- Enhanced healthcare infrastructure and investment.
