Canadian Medical Devices Market Analysis
MarketReportsOnline.com adds "The Medical
Device Market: Canada" report to its research store.
Canada is geographically one of the world's largest
countries, but has a population of just 35.0mn. The population is unevenly
spread, with 90% of Canadians living near the US border. The economy is highly
developed, GDP per capita is on a par with the US.
Canada imported medical equipment and supplies valued at
US$5.5bn in 2012. This marked an increase of 8.1% over 2011.
In 2013, the Canadian Medical market is estimated at
US$7.3bn which, considering the size of the population, makes it one of the
world's richest medical markets. Much of the market is supplied by imports,
largely from the USA.
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The Canadian economy is predicted to grow at between 1.9%
and 2.5% in each of the next five years, and has been less affected by the
global economic crisis than other leading economies due to Canada's more stable
and regulated banking sector. Canada is the only one of the seven major
industrialised nations expected to return to having a surplus in its economy by
2015 according to the IMF.
Long waiting times for treatment have long been a problem in
Canada, exacerbated by the widespread ban on private health insurance in public
facilities. Since 2009, C$250mn has been made available annually through a Wait
Times Reduction Transfer to address the waiting times in five key areas.
In contrast to the USA, Canada's healthcare system is based
on public funding and provision, as in the UK. Expenditure is generally high
although inefficiencies remain. Health provision is the responsibility of
provincial governments, which often have widely differing targets and
priorities.
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There is very little private involvement in the hospital
sector. Private expenditure tends to concentrate on non-physician specialist
services and pharmaceuticals. Around 38% of medical device domestic producers
operate in the hospital supplies & equipment sector.
Explore more reports
on Medical Devices Industry at http://www.marketreportsonline.com/cat/medical-devices-market-research.html.
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