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The Medical Device Market: Canada
Espicom Business Intelligence Ltd, Sep 2009, Pages: 122
This in-depth medical device market report is ideal for executives wanting to understand the key drivers in medical markets and have access to a wealth of statistical data. Each report opens with an outlook section that provides analysis of the market, 5-year market forecasts, national data projections, market outlook and key developments such as regulation, health facilities and government policy. The report also provides extensive background information, population trends, health status, health expenditure, organisation & administration, hospital services, medical personnel, healthcare development, market access information, trade data and essential industry contacts. Included with the report are 3 free quarterly updated outlook reports, enabling you to keep up to date with market developments for a year.
Executive Summary
Canada is geographically one of the world’s largest countries, but only has a population of 33 million. The economy is highly developed, and GDP per capita, at US$39,710 in 2009, is on a par with the US or EU.
In 2009, the Canadian Medical market is estimated at US$4.8 billion which, considering the size of the population, makes it one of the world’s richest medical markets. Much of it is supplied by imports, largely from the USA. Espicom expects the market to increase by a CAGR of 7.7% to reach US$6.9 billion in 2014. However, Canada does need to invest in innovation in order to keep its market share.
In 2009, the USA has added Canada to its priority watch list over concerns over IPR protection and enforcement.
In contrast to the USA, Canada’s healthcare system is very much based on public funding and provision, as in the UK. Expenditure is generally high, at around 11% of GDP in 2009, although inefficiencies remain. Health provision is the responsibility of provincial governments, which often have widely differing targets and priorities.
There is also very little private involvement in the hospital sector. Private expenditure tends to concentrate on non-physician specialist services and pharmaceuticals.
Also in common with the UK, Canadian patients suffer from waiting times for treatment. The problem is not helped by the ban on private health insurance in public facilities. This was overturned in Quebec in June 2005, although its longer term national effects remain unclear.
A major Ten Year Plan to strengthen healthcare was agreed between the national government and the provinces in September 2004. Costing C$41 billion, it is focusing on areas such as waiting times, health personnel, home care and primary care.
In December 2008, opposition parties tried to bring a vote of no confidence in the minority Conservative government. They said that the government was failing to tackle Canada’s economic problems, reacting inadequately to the financial crunch. The conservatives were re-elected in October but failed to secure a majority. Stephen Harper managed to secure a suspension of Parliament from the Governor General from December until the 26th January 2009, when the first Parliament business resumed.
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