Navigation Links
Medical Device Manufacturing in Canada Industry Market Research Report Now Available from IBISWorld
Date:2/23/2013

Los Angeles, CA (PRWEB) February 23, 2013

The past five years have been rocky for the Medical Device Manufacturing industry. Despite the indispensable nature of medical devices, the recession and slower growth in total health expenditure and capital investments took a toll on a number of operators. As a result, a wave of large medical device manufacturers closed underperforming plants. “The exodus has been largely attributed to the lack of incentives to grow and develop in this market, as well as regulatory pressure,” says IBISWorld industry analyst Anna Son. “Indeed, some international companies have avoided entering the Canadian medical devices market due to this difficult operating environment.” The Medical Device Manufacturing industry is primarily composed of small- and medium-size enterprises. Small operators typically specialize in developing technology and products for a niche area. Larger players frequently seek to acquire these firms to expand their product offerings or gain access to a particular technology. Two of the industry’s larger players include Medtronic Inc. and Stryker Corporation.

During the five years to 2013, IBISWorld estimates revenue will contract at an average annual rate of 3.6% to $3.8 billion. As the economic and regulatory climate improves, however, revenue is expected to grow 2.6% in 2013, signaling a turnaround for the Medical Device Manufacturing industry.

“Driven by cost containment and reduction across the healthcare sector, healthcare providers have been seeking competitive pricing to cut costs and manage budgets,” says Son. “Therefore, many health agencies have joined group purchasing organizations, which have power to negotiate prices with medical device manufacturers and other providers of goods and services.” Over the past five years, these pricing pressures and downstream consolidation have spurred mergers and acquisitions within the industry. Meanwhile, shorter product life cycles and the high cost of developing new technology have provided further impetus for industry operators to consolidate.

Given its financial stability and abundant resources, Canada has potential to grow into a hub for medical device innovation. Canada is home to some of the world's most recognized and cutting-edge scientific research institutions, as well as a large number of experienced, highly trained researchers. In addition to its considerable strength in the information technology sector, Canada also holds a strong track record for conducting clinical trials, which stimulate innovations in the healthcare and medical devices sector. Still, despite these advantages, the industry will have to overcome a number of hurdles, such as a shortage of public and private investment, lack of sufficient incentives to attract and retain industry participants, and stringent regulations that constrain industry growth. For more information, visit IBISWorld’s Medical Device Manufacturing in Canada industry report page.

Follow IBISWorld on Twitter: https://twitter.com/#!/IBISWorld
Friend IBISWorld on Facebook: http://www.facebook.com/pages/IBISWorld/121347533189

IBISWorld industry Report Key Topics

This industry includes manufacturers of electromedical and electrotherapeutic apparatus, such as magnetic resonance imaging equipment, medical ultrasound equipment, pacemakers, hearing aids, electrocardiographs and electromedical endoscopic equipment. The industry also manufactures irradiation apparatus and tubes for applications such as medical diagnostic, medical therapeutic, industrial, research and scientific evaluation.

Industry Performance
Executive Summary
Key External Drivers
Current Performance
Industry Outlook
Industry Life Cycle
Products & Markets
Supply Chain
Products & Services
Major Markets
Globalization & Trade
Business Locations
Competitive Landscape
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Barriers to Entry
Major Companies
Operating Conditions
Capital Intensity
Key Statistics
Industry Data
Annual Change
Key Ratios

About IBISWorld Inc.
Recognized as the nation’s most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every US and Canadian industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Los Angeles, IBISWorld serves a range of business, professional service and government organizations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.ca or call 1-800-330-3772.

Read the full story at http://www.prweb.com/releases/2013/2/prweb10462300.htm.


'/>"/>
Source: PRWeb
Copyright©2012 Vocus, Inc.
All rights reserved

Related medicine news :

1. Physician Groups Call for Fewer Medical Tests
2. Weill Cornell Medical College establishes Center for Healthcare Informatics and Policy
3. CAM therapy combined with conventional medical care may improve treatment of lower back pain
4. Image share project gives patients and physicians anytime, anywhere access to medical images
5. Researchers determine vitamin D blood level for reducing major medical risks in older adults
6. Biomedical researchers receive Hartwell Foundation awards
7. Columbia University Medical Center and NY-Presbyterian experts at APA meeting
8. Fitness in Middle Age Lowers Medical Costs Later: Study
9. Ben-Gurion U. and Cincinnati Childrens Hospital to develop pediatric-specific medical technologies
10. Gene Tests May Not Drive Patients to More Medical Care
11. University studies and career expectations of medical students
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/8/2016)... ... February 08, 2016 , ... Local insurance agency ... Venice, FL area, has initiated a fundraiser for a two year old little ... days after Christmas. To support this beautiful child who is facing life’s journey ...
(Date:2/8/2016)... ... February 08, 2016 , ... Eating disorders ... significant number of women and men with eating disorders report a history of ... predicts the development of an eating disorder. , At the 2016 iaedp ...
(Date:2/8/2016)... ... February 08, 2016 , ... ... this important news! AHCC and the Home Health and Hospice ICD-10 Transition Workgroup ... for official ICD coding guidance and clarifications, to address concerns over the use ...
(Date:2/8/2016)... ... ... The schedule is now online for the largest and most ... being held May 25-29 at the Loews Chicago O’Hare Hotel, continues to give the ... chronic illness in children. , Very recent articles have cited 1 child in 20 ...
(Date:2/7/2016)... Dallas, Texas (PRWEB) , ... February 07, 2016 ... ... its new MyDecision™ program. MyDecision™ empowers employers and organizations with the tools and ... , MyDecision™ combines three elements to cut the cost of providing employee healthcare ...
Breaking Medicine News(10 mins):
(Date:2/8/2016)... , Feb. 8, 2016  Avista Pharma Solutions ... Eric Setzer as Chief Financial Officer (CFO). Mr. Setzer ... years of experience in various roles within growing technology ... he served as the Executive Director of Finance at ... Raleigh, NC . Previously, Mr. Setzer ...
(Date:2/8/2016)... DUBLIN , Feb. 8, 2016 /PRNewswire/ ... announced the addition of the "Label-Free ... Global Forecasts to 2020" report to ... has announced the addition of the ... - Global Forecasts to 2020" report ...
(Date:2/8/2016)... , Feb. 8, 2016  Unilife Corporation ("Unilife" or "Company") ... of injectable drug delivery systems, today announced that it will ... ended December 31, 2015 after market close on February 9, ... conference call to discuss these financial results.    ... --> About Unilife Corporation ...
Breaking Medicine Technology: