Canada has a sophisticated and well established medical device market which ranks eighth inthe world in terms of value. The market will register moderate growth in US dollar terms over the forecastperiod, which reflects a subdued economic outlook.
Latest Updates And Key Forecasts
We maintain our forecast that the market will grow at a 2016-2021 CAGR of 5.0% in local currencyterms and 5.7% in US dollars, which should see it rise to CAD10.7bn (USD8.3bn) by 2021. This willreflect an improving subdued economic outlook.
We expect import values in US dollar terms to recover as the rate of decline in the value of the Canadiandollar slows. After contracting y-o-y in every quarter since 2013, imports stabilised in Q416 andincreased by 6.0% y-o-y to USD1.3bn in Q117. After a weak performance at the beginning of the period,imports fell by 0.3% to USD5.1bn over the 12 months to March 2017.