The value added of medical and dental instruments and supplies in Canada saw varying trends from 2013 to 2023. In 2023, the sector stood at 2.31 billion CAD, reflecting a moderate annual growth rate. From 2013 to 2015, the sector experienced fluctuations, with notable growth starting in 2016. Strong year-on-year growth was seen in the subsequent years, with some minor declines. From 2018 to 2023, the sector exhibited a steady upward trend with year-on-year variations stabilizing around 2% in recent years. The five-year CAGR leading up to 2023 averaged about 2.2%, showing consistent growth.
Looking forward, from 2024 to 2028, the value is forecasted to continue its upward trajectory, although at a slower pace with a forecasted five-year CAGR of 1.46%. Factors such as technological advancements, increased healthcare demand, and enhanced medical procedures will influence future trends. Key areas to watch include innovations in medical technology, regulatory changes, and shifts in healthcare policies.
