The forecast for private non-profit expenditure on R&D in Canada from 2024 to 2028 indicates a gradual decline. In 2023, the expenditure was higher than the projected figures for subsequent years. Year-on-year changes show a consistent downward trend, with expenditures decreasing by approximately 0.71% per year, leading to a compound annual growth rate (CAGR) of approximately -0.69% over five years.

Future trends to watch for include:

Potential impacts of government policies or incentives that could alter R&D funding dynamics.
Sector-specific innovations that might drive renewed interest and funding in R&D.
Global economic conditions that could affect expenditure through exchange rates or relative purchasing power.