The private non-profit expenditure on R&D in natural sciences in Canada is forecasted to show a steady increase from CAD 56 million in 2024 to CAD 61 million in 2028. In 2023, the expenditure stood at CAD 55 million. Year-on-year, the expenditure is expected to grow by 1.8% from 2024 to 2025 and 3.5% from 2025 to 2026, followed by smaller increases of 1.7% in each of the subsequent years, 2027 and 2028. The compound annual growth rate (CAGR) over the five-year period is anticipated to be approximately 2.1%.
Key trends to watch for include:
- Increased emphasis on sustainable and climate-focused research, which could draw more funding and interest.
- Potential for partnerships with technology firms to boost research capabilities and outcomes.
- Impact of economic conditions on funding availability and allocation.
- Growing role of AI and digital tools in shaping new research methodologies.
