In recovery: The aging population and a relatively weak Canadian dollar will support growth

The Medical Instrument and Supply Manufacturing ndustry's broad range of medically necessary products largely shields revenue from sharp fluctuations based on changes in specific downstream demand environments. However, pressure from imports is an omnipresent threat that has encouraged domestic operators to embrace product innovation over standardized manufacturing. Several large demographic and economic factors catalyze demand for industry products. Canadians aged 65 and older spend nearly five times as much per capita on healthcare than all younger demographics combined, according to the Canadian Institute for Health Information. Therefore, growth in this demographic benefits industry revenue...read more.

Industry Statistics & Market Size
Revenue
$4bn
Annual Growth 13-18
3.3%
Forecast Growth 18-23
Profit
Employment
19,048
Businesses
2,240
Market Share of Companies
There are no companies with a dominant market share in this industry

Industry Threats & Opportunities

  • Elderly Canadians spend nearly five times as much per capita on healthcare than all younger demographics combined
  • Import penetration has shaped the industry over the past five years
  • International trade is forecast to remain an important component of the industry environment
  • Industry Report - Industry Investment Chapter

    Capital intensity for the Medical Instrument and Supply Manufacturing industry is relatively low. For every dollar the industry spends on labour, $0.08 is spent on capital expenses, which has remained relatively stable over the five-year period due to the countervailing influence of high salaries on capital expenditures. This discrepancy indicates high industry wages rather than a lack of need for capital equipment in the industry. In addition to hiring workers to oversee production lines, industry manufacturers must also hire skilled medical research and product design personnel, keeping salaries high relative to depreciation, a proxy for capital costs. Sin...purchase to read more.

    Additional Insights for the Medical Instrument & Supply Manufacturing Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Medical Instrument & Supply Manufacturing Industry are

  • Undertaking technical research and development
  • Establishment of export markets
  • Economies of scale
  • IBISWorld analysts also discuss how external factors such as Number of adults aged 65 and older and Research and development expenditure in the Medical Instrument & Supply Manufacturing industry impact industry performance..

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    What's in this report

    What is the Medical Instrument & Supply Manufacturing Industry?

    Operators in this industry primarily research, develop and produce nonelectronic medical, surgical, dental and veterinary instruments and apparatus, such as syringes, anesthesia apparatus, blood transfusion equipment, catheters, surgical clamps and medical thermometers. The industry does not manufacture electromedical and electrotherapeutic apparatus, laboratory instruments, X-ray apparatus, nonmedical thermometers or ophthalmic goods (such as contact lenses and eyeglasses).

    Industry Products
  • Diagnostic apparatuses
  • Consumables
  • Patient aids
  • Orthopedic and prosthetic products
  • Dental products
  • Industry Activities
  • Designing medical, surgical, veterinary and dental instruments and supplies
  • Manufacturing medical, surgical, veterinary and dental instruments and supplies
  • Marketing medical, surgical, veterinary and dental instruments and supplies
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Number of adults aged 65 and older
  • Research and development expenditure
  • Total health expenditure
  • Canadian-dollar effective exchange rate index

  • Current Performance
  • Demand at home and abroad
  • The shape of the industry
  • Chart: Revenue Growth

  • Industry Outlook
  • Trade growth
  • Trends at home
  • Table: Medical Instrument & Supply Manufacturing Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Medical Instrument & Supply Manufacturing Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Medical Supplies Wholesaling in Canada
  • Veterinary Services in Canada
  • Primary Care Doctors in Canada
  • Specialist Doctors in Canada
  • Dentists in Canada
  • Hospitals in Canada

  • Key Selling Industries
  • Glass Product Manufacturing in Canada
  • Plastic Pipe & Parts Manufacturing in Canada
  • Rubber Product Manufacturing in Canada
  • Tire Manufacturing in Canada

  • Products & Services
  • Other
  • Diagnostic apparatuses
  • Consumables
  • Patient aids
  • Orthopedic and prosthetic products
  • Dental products
  • Chart: Medical Instrument & Supply Manufacturing Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • Exports
  • Hospitals
  • Physicians
  • Other institutions
  • Dentists
  • Other health professionals
  • Vision care specialists
  • Chart: Major Market Segmentation for the Medical Instrument & Supply Manufacturing Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Profit
  • Purchases
  • Wages
  • Other
  • Chart: Cost Structure Benchmarking – Sector vs Medical Instrument & Supply Manufacturing

  • Basis of Competition
    Barriers to Entry
  • Table: Barrier to Entry Checklist for the Medical Instrument & Supply Manufacturing Industry

  • Industry Globalization
    There are no major players in this industry. This report includes analysis of other companies.
    Capital Intensity
  • Chart: Level of Capital Intensity for the Medical Instrument & Supply Manufacturing Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Medical Instrument & Supply Manufacturing Industry
    Includes:
  • Industry Revenue (2009-2023)
  • Industry Gross Product (2009-2023)
  • Establishments (2009-2023)
  • Businesses (2009-2023)
  • Employment (2009-2023)
  • Exports (2009-2023)
  • Imports (2009-2023)
  • Wages (2009-2023)
  • Research and development expenditure (2009-2023)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Catheter
  • A medical grade tube inserted into the body for any one of several functions, including drainage, the administration of medicine or to open a blockage.
  • Orthopedic Surgery
  • The branch of surgery focusing on the musculoskeletal system.
  • Stent
  • A small mesh tube used to treat narrow or weak arteries.
  • What Our Customers Say

    Why buy this report?

    IBISWorld’s Medical Instrument & Supply Manufacturing market research report is a comprehensive guide to market size and growth prospects. Our industry reports offer strategic industry analysis of the factors influencing companies, including new product developments, economic, lifestyle and demographic influences, distribution and supply chain factors and pricing issues. Full analysis accompanies our data forecasts to illustrate how the market responds to emerging industry trends.

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Medical Instrument & Supply Manufacturing:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Medical Instrument & Supply Manufacturing market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Medical Instrument & Supply Manufacturing, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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