Canadian Med Tech Sector Hot 2012-2015
The health care industry in Canada has experienced steady growth in the past decade, driven by universal access to health care, an aging population, rise of lifestyle disease rates, and advances in the pharmaceutical and medical technologies. Key challenges facing the Canadian health care sector include extended wait times leading to limited access to services and a rising health care financing deficit. Part of the complex solution for solving both challenges includes the adoption of advanced medical technologies, which can have a long term result of lower per-treatment cost and duration, as well as better health outcomes.
The outlook for medical technology sector looks very bullish. The med tech sector is trending the same way as the Israel, Ireland, China, India, Brazil and US medtech sectors.
US med tech sector is going to be in demand as innovation is all time high across the sectors. The impact of obesity and obesity related problems has created new opportunities in the weight loss, cardiovascular, spine and orthopedic market.
Also, following the US regulatory system may do more harm to the Canadian med tech sector. Following the EU system is the most ideal system.
The United States remains overwhelmingly the primary market for Canadian medical device exports and the destination for approximately 71% of all medical device exports in 2010.
Many of the large international medical device manufacturers are represented in the market, though relatively few have set up manufacturing plants locally, preferring to maintain only their sales team in Canada. The Canadian medical device market is estimated at $6 B in 2010, is primarily an import market; with 52% of all imports destined for the US.
No comments:
Post a Comment