The production of medical and dental instruments and supplies in Canada showed a steady increase from 3.23 billion CAD in 2013 to 5.11 billion CAD in 2023. Notable variations in annual growth include 2016’s significant 17.95% increase, largely contributing to overall upward trends. Despite some fluctuations, there has been stable year-on-year growth, particularly consistent from 2019 to 2023, with a CAGR of 2.23% over the last five years. From 2024 onward, production is forecasted to continue its rise, reaching 5.62 billion CAD by 2028, reflecting a forecasted 5-year CAGR of 1.53%.
Future trends to watch for:
- Technological advancements and innovation in medical devices.
- Impact of healthcare policy changes.
- Increasing global demand and export opportunities.
- Regulatory changes and their implications on production costs and efficiency.
