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Scientific Research & Development in Canada - Industry Market Research Report

Scientific Research & Development in Canada - Industry Market Research Report

  • June 2019
  • 32 pages
  • ID: 4248846
  • Format: PDF
  • By Ibisworld

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Lab work: The industry is expected to return to growth as corporate profit and business sentiment improve

Abstract

Scientific Research & Development in Canada
The Scientific Research and Development industry in Canada includes organizations conducting physical, engineering and life sciences research, but does not include private research and development (R&D) conducted in-house at corporations. Private enterprises represent the majority of industry clients and funding. However, due to low corporate profit margins during much of the period, enterprise investment remained low for much of the five years to 2019. Government funding for R&D is expected to grow as the current administration has made investment in Canadian research a priority. New enterprises have entered the market, encouraged by targeted funding toward technological and innovative research areas. This has led to fragmentation in the industry. Recently, there have been signs that the industry will experience a change in fortune, particularly as the current administration has indicated an intention to increase R&D funding under its Innovation Agenda. This is expected to encourage private enterprises to allocate more money for product development.

This industry conducts physical, engineering or life sciences research and development (RandD). This industry does not include operators such as pharmaceutical or manufacturing companies that may undertake RandD to support operations. Government entities are also excluded from this industry.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.

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