The import value of artificial body parts, aids, and appliances to Canada is forecasted to increase from $318.06 million in 2024 to $340.63 million in 2028. From 2024 to 2025, the market is expected to grow by 1.83%, while from 2025 to 2026, an increment of 1.76% is projected. The pace continues with a 1.70% increase from 2026 to 2027 and a 1.64% rise from 2027 to 2028. Overall, the Compound Annual Growth Rate (CAGR) for 2024 to 2028 is estimated at approximately 1.73%.
Future trends to watch for:
- Advancements in medical technology driving demand for innovative prosthetics and aids.
- Potential policy changes impacting import tariffs and regulations.
- Demographic shifts, including an aging population, likely increasing demand.