The production of Scientific R&D in Canada is forecasted to rise steadily from 2024 to 2028, reaching CAD 11.70 billion by 2028. The value in 2023 was CAD 10.74 billion. Year-on-year variations show a consistent growth rate of approximately 1.8% annually. When examining the Compound Annual Growth Rate (CAGR) over the next five years, it averages around 1.76% per year.
Future trends to watch for include advancements in technology and increased government funding, which could potentially accelerate growth rates. Additionally, increasing collaborations between academia and industry may further drive this sector's expansion.
