Scrub up: Rising operating costs will likely hinder stronger industry profit growth
The Medical Instrument and Supply Manufacturing industry in Canada produces a variety of nonelectric medical, dental and veterinary products for personal and professional use. The industry'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 operators to embrace product innovation over standardized manufacturing. Despite pressures, industry revenue is forecast to increase at a CAGR of 1.0% to $5.8 billion, including an anticipated decline of 3.8% in 2023 alone.
Operators in this industry primarily research, develop and produce nonelectronic medical, surgical, dental and veterinary instruments and apparatuses, such as syringes, anesthesia apparatuses, blood transfusion equipment, catheters, surgical clamps and medical thermometers. The industry does not manufacture electromedical and electrotherapeutic apparatuses, laboratory instruments, X-ray apparatuses, nonmedical thermometers or ophthalmic goods, such as contact lenses and eyeglasses.
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's key players and their market shares.
Table of Contents
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Baxter International Inc.
Methodology
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